Punjab National Bank Home Loan-2025
Punjab National Bank housing loan is a trusted option for financing your dream home. With competitive interest rates, easy eligibility, and quick approvals, Punjab National Bank home loan makes owning, building, or renovating a house affordable and stress-free.
Punjab National Bank offers a diverse range of home loan schemes up to 1 crore at competitive interest rates commencing at 8.80% p.a. Punjab National Bank home loans are tailored to meet the needs of salaried individuals, non-salaried professionals, and NRIs, providing reliable options for aspiring homeowners. With a repayment tenure maximum of 30 years, these home loans ensure minimal paperwork and swift disbursal.
Starting to gather information about home loan information could be a tedious task, especially for first-time aspiring homeowners. With the help of all the information given below, clients will be able to navigate their way through and will be able to get a better understanding of Punjab National Bank’s home loan proceedings. The guide below walks you through all the required information making it smoother and easier.
Punjab National Bank Home Loan Highlights
Punjab National Bank is renowned for its home loans, which come with attractive features and flexible options to ensure a smooth and affordable home-buying experience. PNB and PNB Housing Finance offer home loans for purchasing newly built homes, plots, properties under construction, or previously owned homes. Applicants can also use the loan amount to develop or renovate a house. Additionally, the loan amount can be increased in case of cost escalation.
Following is a tabulated illustration defining the key features of Punjab National Bank home loans to help individuals make informed decisions:
| Particulars | Details |
| PNB Home Loan Interest Rate | Fixed Interest Rates- 9.40%- 11.75% p.a.
Floating Interest Rates- 8.40% – 10.25% p.a. |
| Loan Amount | The eligibility of the applicant |
| Loan Tenure | Maximum of 30 years |
| Processing Charges | Waived off from 05.06.2024 to 31.03.2025 |
| Rate Packages | Fixed/ Floated |
| Prepayment/ Foreclosure Charges | Fixed: No prepayment charges
Floated: 2% prepayment charges |
Punjab National Bank Home Loan Types
The bank furnishes a wide selection of home loans. Let us delve into the details for improved understanding:
1. PNB Max Saver Housing Finance Scheme
The PNB Max Saver is a home loan scheme that allows people to save the most while buying a home. Customers can deposit surplus funds into an overdraft account and withdraw them when required, up to the drawing power. It comes with a repayment period of 30 years.
Here are some salient features of the PNB Max Saver Housing Finance Scheme:
- A minimum of ₹10 lakhs is available for loan.
- The interest rate is 8.55% p.a.
2. PNB Pride Housing Loan
PNB Pride Housing Loan is exclusively for permanent government employees, be it central, state or paramilitary forces. Its flexible repayment tenure provides applicants with optimum peace of mind allowing them to schedule the period, if needed.
Here are the prime features of this home loan:
- The repayment tenure including the moratorium period is 15 years maximum for any home-related repairs, renovations or alterations. For any other reason, the tenure can be extended up to 30 years.
- The interest rates are 8.50% for loan amounts up to ₹75 lakhs and 8.55% for a home loan of more than ₹75 lakhs.
3. Public Housing Loan
A Public Housing Loan at PNB comes at attractive interest rates allowing everyone to build a house of their own. This loan does not have a maximum value capping for purchasing a house or flat. The available amount is subjected to maintenance of the specified loan-to-value ratio (LTV).
Have a look at some of the features of Public Housing Loan:
- Individuals who have a regular source of income are eligible for this scheme.
- The maximum capping is ₹50 lakhs for land purchasing or house renovations.
4. PNB Gen-Next Housing Finance Scheme
This Punjab National Bank home loan is for salaried individuals. To be eligible for this loan, applicants must be within 40 years with more than 3 years of professional experience, possessing a monthly salary of ₹35000 or more.
Some of its features are:
- The minimum limit is ₹20 lakhs and the maximum limit depends on the applicant’s need.
- The required collateral for availing this loan is the registered mortgage of the property or anything equitable.
5. Roshni Home Loans
This affordable loan scheme is an offering of PNB Housing Finance. It is for low to middle-income groups with a monthly income of a minimum ₹10000. This loan is available across the Tier 1 and Tier 2 cities.
Here are some of its top features:
- It is eligible for first-time credit borrowers, self-employed and low to middle-income family groups.
- This scheme offers home loans from ₹5 lakhs to ₹30 lakhs according to the total household income of applicants.
6. Punjab National Bank (PNB) Pradhan Mantri Awas Yojana
The Punjab National Bank home loan aids individuals from the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle-Income Group for purchasing, constructing, and expanding a house. These loans are offered through the Credit-Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) scheme. Depending on the category under which the beneficiary falls, the interest subsidy is available at rates of up to 6.5% p.a.
Here is a tabulated illustration highlighting the category, annual family income and interest subsidy under CLSS:
| Category | Annual Family Income | Interest Subsidy |
| Middle Income Group – I | ₹6 lakh to ₹12 lakh | 4% |
| Middle Income Group – II | ₹12 lakh to ₹18 lakh | 3% |
| Low Income Group (LIG) | ₹3 lakh to ₹6 lakh | 6.50% |
| Economically Weaker Section (EWS) | Up to ₹3 lakh | 6.50% |
Please note: All values mentioned above are dynamic, kindly refer to the official website of the Punjab National Bank or visit your nearest branch to get up-to-date information.
Punjab National Bank Home Loan Details
Punjab National Bank is renowned for its home loans, which come with attractive features and flexible options to ensure a smooth and affordable home-buying experience. Let’s delve into the important details of Punjab National Bank Home Loans:
- Interest Rate: Punjab National Bank offers borrowers competitive interest rates on their home loans, making them more affordable.
- Loan Amount: Punjab National Bank provides a wide range of loan amounts to suit individual requirements, based on eligibility.
- Processing Fees: Punjab National Bank charges nominal processing fees for home loan applications, keeping them reasonable for borrowers.
- Prepayment/Foreclosure Charges: Punjab National Bank allows borrowers to make prepayments or foreclose their home loans with minimal charges.
- Maximum Tenure: Punjab National Bank offers extended tenures for home loans, making repayment easier over a longer period.
- Rate Packages Available: Punjab National Bank caters to diverse preferences by offering various rate packages, including fixed rates, floating rates, and hybrid options.
Punjab National Bank Home Loan Eligibility
To be eligible for a Punjab National Bank Home Loan, certain criteria must be met. The eligibility requirements may vary based on the loan scheme and applicant type. Here are some key factors considered by Punjab National Bank for home loan eligibility:
1. Age – The minimum age requirement is 18 years, and the maximum age limit is usually 70 years, subject to the borrower’s repayment capacity.
2. Income – Punjab National Bank assesses the applicant’s income stability and repayment capability to determine the loan amount eligibility.
3. Employment Type – Punjab National Bank considers the applicant’s employment type, whether salaried, self-employed or a professional while evaluating the loan application.
4. Credit Score – A good credit score enhances the chances of loan approval and favourable interest rates. Punjab National Bank evaluates the creditworthiness of the applicant.
5. Property Documents – The property being financed must meet the legal and technical requirements specified by Punjab National Bank.
Meeting these eligibility criteria increases the likelihood of getting your Punjab National Bank Home Loan approved.
Documents Required for Punjab National Bank Home Loan Application
When applying for a Punjab National Bank Home Loan, you need to submit certain documents. The documentation requirements may vary based on the applicant type and loan scheme. Here are some common documents required:
1. Identity Proof
- PAN Card
- Aadhaar Card
- Passport
- Voter ID
- Driving Licence
2. Address Proof
- Aadhaar Card
- Passport
- Voter ID
- Utility Bills
- Rental Agreement
3. Income Proof
- Salary slips
- Bank statements
- Income tax returns
- Audited financial statements for self-employed individuals
4. Property Documents
- Sale agreement
- Property title deed
- Approved building plan
- Property tax receipts
5. Other Documents
- Passport-size photographs
- Bank statements
- Employment proof
Submitting accurate and complete documents is crucial for a smooth loan application process.
How to Apply for Punjab National Bank Home Loan
Applying for a Punjab National Bank housing loan is a simple process, especially with NoBroker Home Loan services. Here’s a step-by-step guide to help you apply for a Punjab National Bank Home Loan with NoBroker:
1. NoBroker Home Loan Services:
Now you can avail Punjab National Bank Home Loan easily and conveniently with NoBroker Home Loan services. To avail Punjab National Bank Home Loan login to the NoBroker Home Loan website and select the lender.
2. Details and Documents
Once you login, fill in all the necessary details like name, phone number, contact details, income, employment/business details, and the desired loan amount. And Upload the necessary documents, including proof of identity, address, income, property details, and more
3. Submit Application
Once you fill in all the details and required documents, review your application and submit the application for processing the home loan.
4. Application Review
Once the home loan application is submitted, the Bank will review your application and may request additional documents if necessary.
5. Loan Approval and Disbursement
Once the application is approved, the loan amount will be disbursed to your bank account.
Before applying for Punjab Bank Home Loan, you can check your eligibility for home loan with NoBroker Home Loan Eligibility Calculator. You can also now calculate how much you need to pay as EMI for the amount you are taking the loan with NoBroker Home Loan EMI Calculator.
By following these steps, you can complete the Punjab National Bank Home Loan application process conveniently and efficiently with NoBroker Home Loan services.
Tips to Avail Low-interest PNB Home Loans
Considering the various factors impacting housing loan interest rates in India, such as income, loan amount, employment type, CIBIL score, etc., customers can be eligible for a reduced interest rate. Following are some tips to avail PNB home loans at low interest rates:
1. Increase Loan Tenure and Down Payment:
You can get a lower interest rate for home loan amounts up to Rs. 35 lakh. To achieve this, try making a larger down payment to reduce your loan amount. Also, opt for a longer repayment period, typically more than 15-20 years, to decrease your monthly payment burden.
2. Interest Type Selection:
While a fixed interest rate remains the same for a specific period, a floating interest rate will change your payment period based on market interest rate changes. Generally, the floating rate is slightly higher than the fixed rate. Fixed-interest home loans are available at Punjab National Bank, thus select wisely.
3. Total Income and Employment Status:
An individual applying for a home loan must have a steady, sufficient income and 3 years of professional experience to qualify for low-interest-rates home loans.
4. Improve Credit Score:
If your credit score is 750 or higher, lenders are more likely to approve your home loan application. So, elevate your credit score before applying for a low-interest home loan.
5. Offers and Promotions:
Always be on the lookout for special offers, partnerships, or promotions when choosing a home loan. These deals often offer a slightly better interest rate than the market rate.
Punjab National Bank Home Loan Customer Care
If you have any queries or require assistance regarding Punjab National Bank Home Loans, contact their customer care team. Here are the contact details for Punjab National Bank Home Loan Customer Care:
| Toll-Free Number | 1800 180 2222 |
Feel free to contact them for any information or support related to your Punjab National Bank Home Loan journey.
Conclusion
Take advantage of Punjab National Bank’s home loan offerings, which include competitive interest rates, flexible loan options, and a wide range of schemes, to fulfil your dream of owning a home. This blog has provided insights into Punjab National Bank’s home loan details, interest rates, eligibility requirements, the application process, and customer care contacts. Utilise this information and embark on your journey to homeownership with Punjab National Bank Home Loans.
