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PNB Housing Finance Limited (PNB Housing) is an Indian housing finance company registered with National Housing Bank (NHB), PNB Housing is promoted by Punjab National Bank (PNB), The company offers Home Loans & Property Lending as part of its product portfolio and also holds a license to accept public deposits, The Bank has over 7000 branches with 600 well-trained and experienced employees to make the process of housing loans easy, quick and smooth.
PNB Housing Finance
Make your dream home a reality with PNB Housing Loan PNB offers a wide range of financial facilities like home loans that finance up to 90%* of the cost of your property, you can also avail loans to build a new home on your existing property, PNB also allows you to apply for a housing loan scheme as an individual or as co-applicants with others.
PNB Housing Finance also offers “Credit Link Subsidy Scheme” or Pradhan Mantri Awas Yojana for Economically Backward Sections (EWS) of the society, A home loan comes with great benefits like attractive interest rates, minimum documentation, long repayment period, quick disbursal and prompt customer service.
PNB Housing offers a comprehensive and easy process of availing housing loan schemes and repaying the said loans, whether you want to buy or build or renovate a home, apply for PNB Home Loan and enjoy a hassle-free process.
Offering a variety of different repayment schemes to suit customer needs and requirements as per income and financial status, with 30 years of experience and customer trust, PNB Housing offers low-interest home loans as per your budget.
PNB Housing Loan Eligibility Criteria
PNB Housing offers benefits to all those who are looking to fulfill their aspirations of buying or building their dream home Whether you meet the appropriate eligibility criteria for a PNB home loan depends on several factors.
Age is a key factor in determining your home loan eligibility, your age should not be more than 70 years by the time your home loan matures, a younger age allows you to avail higher loan amount for a longer period of time as young people have more financial capacity to repay the loan than adults and senior citizens.
Whether you are a salaried person or a self-employed person, PNB Housing has one main criterion, PNB Housing has won the favor of customers with the lowest home loan interest rates in the market, check the table below to find out if you are eligible for a PNB Housing Loan.
| FACTOR | SALARIED | SELF-EMPLOYED/BUSINESS OWNERS |
|---|---|---|
| Age | Minimum Age 21 Year Maximum Age 70 Years | Minimum Age 21 Years Maximum Age 70 Years |
| Work Experience | 3+ Year | 3+ Year |
| Business Continuity | – | 3+ Year |
| CIBIL Score | 611+ | 611+ |
| Minimum salary | 15000 | – |
| Loan Amount | 8 Lakh Onwards | 8 Lakh Onwards |
| Maximum Tenure | 30 | 20 |
| Nationality | Indian / NRI | Indian |
CIBIL Score Eligibility for PNB Home Loan
When you start with the home loan process, you must know some terms, before applying for a home loan you must know the credit score, knowing your CIBIL score beforehand will know whether you are eligible for a loan, knowing what is a good credit score for a PNB home loan will help you apply for a loan. It will help you to improve your loan eligibility before doing so.
Your PNB will check your CIBIL score before giving you a loan, finance for home loan ranges from lakhs to crores and for long term, CIBIL score is one of the important factors considered by the lender while disbursing a home loan, Manages credit scores of each individual based on your credit history, your CIBIL score reveals your ability to repay any loan, CIBIL score 700+ is considered a good CIBIL score for home loans
If your loan application is rejected by any bank based on your credit score, you cannot reapply for a home loan in another bank, if you keep applying for houses with different financial institutions your credit score will go down further, without clearing your debts in the form of unnecessary personal loans or high credit limits. You cannot improve your financial situation
The normal range of CIBIL scores is between 300 to 900, while a CIBIL score of 800 is considered an ideal CIBIL score for a home loan, less than 550 is considered a bad CIBIL score, the minimum credit score you need for home loan approval at PNB is 650 or above.
PNB Housing Home Loan EMI Calculator
Being able to buy own house is one of the biggest achievements in one’s life, but for buying a house one needs financial assistance in the form of a home loan, banks fund a home loan to a person on the basis of income, which sees whether the person has the ability to repay the loan.
PNB has created Home Loan Affordability Calculator keeping in mind several factors that help you estimate the property value you can afford and your eligible home loan amount, PNB Housing Loan EMI Calculator is an online tool that helps you calculate your eligibility based on your inputs.
If you are a home buyer, you can quickly input these fields in the calculator and easily check your eligibility for PNB Home Loan Calculator, PNB Housing takes income, tenure, other monthly income sources, pre-existing debts and affordable EMIs to determine your eligibility.
PNB Home Loan Processing Fee
When a financial institution grants a home loan, they may charge a processing charge for the home loan, though the amount varies between different financial institutions, but PNB Housing Loan Processing Fee is up to 1%.
Applying for PNB Home Loan must be well aware of the amount to be paid to the lending bank, while applying for Home Loan, it is important for the applicant to be aware of the following fees and charges.
| Home Loan Schemes | Processing Fee |
| PNB HFL Housing Loan for Public | 0.35% plus Service Tax (Minimum Rs. 2500, Maximum Rs. 15,000) |
| PNBHFL Housing Loan for Government Employees | 0.35% plus Service Tax (Minimum Rs. 2500, Maximum Rs. 15,000) |
| PNBHFL Max-Saver (Housing Finance Scheme for Public) | 0.35% plus Service Tax (Minimum Rs. 2500, Maximum Rs. 15,000) |
| PNBHFL PMAY Scheme (Housing Loan For Public) | 0.35% plus Service Tax (Minimum Rs. 2500, Maximum Rs. 15,000) |
| PNBHFL PMAY Scheme (For Middle Income Group) | 0.35% plus Service Tax (Minimum Rs. 2500, Maximum Rs. 15,000) |
| PNB Gen-Next Housing Finance Scheme for Public | 0.35% plus Service Tax (Minimum Rs. 2500) |
Documents Required for PNB Home Loan
Getting a housing loan is crucial for aspiring homeowners who need a large amount of funds to make their home purchase, documentation is a key part of the home loan application process, as it is a way for lenders to evaluate customers in a better way.
While applying for a home loan, submit all the required Documents Required Apart from the rejection of the loan application, to get a home loan the applicant must submit some mandatory documents mentioned below to get a home loan.
As per PNB housing finance rules, providing these Documents Required helps the lender to build trust in the applicant and lend risk-free, here is the list of documents that one must submit to get a home loan from PNB, below you will find the documents required to apply for a housing loan in India.
| Document for Salaried Employees | Document for Self Employed/Professionals |
| Please ensure that the application form is fully completed and includes a photograph. | Please ensure that the application form is fully completed and includes a photograph. |
| Address Proof – Aadhar / Passport / Driving Licence / Telephone Bill / Ration Card / Election Card | Address Proof – Aadhar / Passport / Driving Licence / Telephone Bill / Ration Card / Election Card |
| Age Proof – PAN Card, Passport, Do you have any other certificates from a statutory authority) | Age Proof – PAN Card, Passport, Do you possess any additional certificates issued by a government agency or regulatory body) |
| Education Qualification – Latest Degree | Education Qualification – Latest Degree (for professionals) |
| Latest Salary-slips for 3 months | Certificate & Proof of business existence along with Business Profile |
| Income Proof – Includes salary slips of last 3 months, Form 16 for last 2 years, and latest 6 months bank statement | Income Proof – Pertaining to business and ITR, such as proof of business existence, last 3 years income tax returns, accountant-certified balance sheets, and last 12 months bank account statement |
| Last 6 months Bank Statements(salary account) | Last 12 months Bank Account Statements (self & business) |
| Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ | Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ |
| Photocopy of Title Documents of the Property, Approved Plan | Photocopy of Title Documents of the Property, Approved Plan etc. |
| Official Website | https://www.pnbhousing.com/loan-against-property/documents-required/ |
PNB Home Loan Interest Rate
Punjab National Bank offers home loans for self-employed and salaried individuals, financing your new home purchase, construction or renovation has never been easier at PNB Housing as home loan interest rates are as low and affordable as possible.
Punjab National Bank at 8.50% p.a. with a maximum loan of Rs.1 crore. offers a variety of home loan schemes at competitive rates ranging from, having the flexibility to extend the loan repayment tenure up to 30 years, and a processing fee of 0.35% of the applicable loan amount plus GST.
The lowest interest rates offered by PNB Housing start from 8.75%* for salaried & 8.80%* for self-employed persons, subject to your credit score Check the table below for more details on current home loan rates on offer
PNB Home Loan Interest Rate for Amounts up to 35 Lakh
| Credit Score | Salaried / Self – employed professional (SEP) | Self – employed non – professional (SENP) |
|---|---|---|
| >=825 | 8.75% to 9.25% | 8.9% to 9.3% |
| >800 to 825 | 9.10% to 9.25% | 9.65% to 9.4% |
| >775 to 799 | 9.10% to 9.6% | 9.65% to 10.15% |
| >750 to <=775 | 9.25% to 9.75% | 9.80% to 10.30% |
| > 725 to < =750 | 9.55% to 10.05% | 10.25% to 10.75% |
| > 700 to <= 725 | 9.85% to 10.35% | 10.55% to 11.05% |
| > 650 to <= 700 | 10.25% to 10.75% | 10.75% to 11.25% |
| upto 650 | 10.25% to 10.75% | 10.75% to 11.25% |
| NTC Cibil >=170 | 10.25% to 10.75% | 10.75% to 11.25% |
| NTC Cibil <170 | 10.15% to 10.65% | 10.75% to 11.25% |
PNB Housing Loan Interest Rate for Amounts Above 35 Lakh
| Credit Score | Salaried / Self – employed professional (SEP) | Self – employed non – professional (SENP) |
|---|---|---|
| >=825 | 8.75% to 9.25% | 8.8% to 9.3% |
| >800 to 825 | 8.75% to 9.25% | 8.90% to 9.40% |
| >775 to 799 | 9.20% to 9.70% | 9.80% to 10.30% |
| >750 to <=775 | 9.35% to 9.85% | 10.15% to 10.65% |
| > 725 to < =750 | 9.70% to 10.20% | 10.30% to 10.80% |
| > 700 to <= 725 | 10.05% to 10.55% | 10.75% to 11.25% |
| > 650 to <= 700 | 10.45% to 10.95% | 10.95% to 11.45% |
| upto 650 | 10.45% to 10.95% | 10.95% to 11.45% |
| NTC Cibil >=170 | 10.45% to 10.95% | 10.95% to 11.45% |
| NTC Cibil <170 | 10.35% to 10.85% | 10.85% to 11.35% |
NOTE – Punjab National Bank home loan rate vary according to the bank’s discretion, the information given here is only the current interest rates given by the bank, when you want to apply for a home loan in Punjab, you should visit the https://www.pnbhousing.com/home-loan/interest-rates bank’s official website and confirm.