Punjab National Bank is a banking and financial service bank owned by the government of India with its headquarters is in New Delhi, India. The bank was founded in 1894 and is the second largest public sector bank in India, both in terms of business and its network.
Punjab National Bank (PNB) is one of the top banks in India. The bank provides a vast array of financial products to the customers. One of them is a home loan. A home Loan is the best option available at cheaper interest rates for any individual.
Home Loan is offered to individuals who wish to purchase or construct a house. The property is mortgaged to the land or as a security till the repayment of the loan. Punjab National Bank offers a wide range of products to its customers to fulfil their dreams. It is available for constructing or buying a home and providing a loan amount from Rs.10 lakh upto Rs.1 crore. You can apply for a home loan from Punjab National Bank by either applying for it online or by visiting the nearest branch of the bank with proper documents. Punjab National Bank home loan offers an attractive interest rate to its customers starts at 7.00% per annum with the flexibility of the repayment tenures.
Punjab National Bank Home Loan Purposes
Construction of house or flat
Purchase of build house or flat
Expansion of flat or house
Purchase of land or plot
1. Wide range of home loan schemes to suit every customers needs
2. Customer have a regular source of income
3. Flexibility to extend the repayment tenure upto 30 years
4. Overdraft and top up facility for all the customers
5. Special concession on interest for women borrowers
6. Simplified loan procedures
7. Available for both individuals and joint owners
To apply for a home loan you have to pay fees and charges applied by the Punjab National Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from Indusind Bank i.e processing fee, prepayment / foreclosure charges, documentation charges etc.
|
TYPE |
CHARGES |
|
Processing fee |
0.35% of the loan amount plus GST |
|
Part payment and foreclosure charges |
NIL |
|
Documentation charges |
Upto Rs.2500 |
|
Security verification / Inspection charges |
Rs.250 plus GST |
Before applying for a home loan from Indusind bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the Punjab National Bank home loan application the salaried individuals and joint owners are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
1. The minimum age of the customer is 18 years at the time of avail a loan
2. The maximum age of the customer is 70 years at the time of loan maturity
3. Available for both individuals and joint owners.
4. Customer have a regular source of income
5. Minimum income is Rs.25000 per month
6. Must be an Indian Resident
Any applicant who is going to avail a home loan must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
1. Fully filled signed application form
2. Passport size photograph
3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id
4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id
5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited
6. For Self employed individuals / professionals = 2 years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.
Punjab National Bank Home Loan Schemes
1. PNB Housing Loan for Public
PNB Housing Loan for public Scheme is available for the purchase of new house or flat, construction of house or flat, renovation of existing house or flat, purchase of residential flat or plot.
|
Loan Amount |
Interest Rate |
Tenure |
|
Upto Rs.1 crore |
7.00% to 7.40% |
Upto 30 years |
2. PNB Max Saver
PNB Max Saver is a housing loan in the form of overdraft. This scheme is availed for all purposes except for the purchase of land / plot.
|
Loan Amount |
Interest Rate |
Tenure |
|
Rs.10 lakh to Rs.1 crore |
7.00% onwards |
Upto 30 years |
3. PNB Gen- Next Housing Finance Scheme for public
This scheme is availed for home purchase or home construction.
|
Loan Amount |
Interest Rate |
Tenure |
|
Minimum Rs.20 lakh |
7.00% onwards |
Upto 30 years |
4. PNB Pride Housing Loan
PNB Pride Housing Loan is available for the purchase of a new house/ flat/ plot, construction of a new house, renovation or repair of the existing house/ flat.
|
Loan Amount |
Interest Rate |
Tenure |
|
Minimum Rs.10 lakh |
7.00% onwards |
Upto 30 years |
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
1. Punjab National Bank Car Loan
2. Punjab National Bank Home Loan
3. Punjab National Bank Personal loan
4. Punjab National Bank Gold Loan
There are two ways to apply for home loans from Punjab National Bank :
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of Punjab National Bank
In retail section go to the “loans”
Now click in home loan
After that go to “Home loan”
Now click on apply now and fill application form
Punjab National Bank Customer Care
Contact number : 18001802222 / 18001032222
Email id : care@pnb.co.in
The following formula is used to calculate EMI of Indusind Bank Home Loan :
EMI = [PXRX(1+R)^N] / [(1+R)^N-1]
Where,
P stands for Loan Amount
R stands for Interest Rate
N stands for tenure in number of months
Financials products offered by Bank :
You can repay the amount on EMI or bullet payment basis. Payments can also be made online by using the net-banking feature.
To check the status of your home loan, you can contact the bank via their customer care number. You can also personally visit the branch and meet the officer who is in charge of your application to know the status of your loan.
The interest rate provided by Punjab National Bank for home loan starts at 7.00% per annum.
The minimum loan amount provided by Punjab National Bank for home loan is Rs.10 lakh and the maximum loan amount provided by Punjab National Bank for home loan is Rs.1 crore.
The processing fee provided by Punjab National Bank for home loan is 0.35% of the loan amount plus GST.
Last Updated on : 20/Aug/2020Know More About
You're eligible for a Punjab National Bank Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Punjab National Bank Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 7% - 0% |
| Processing Fees | 0.35% of the loan amount plus GST |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator