Punjab National Bank (PNB) offers home loans with competitive interest rates starting from 8.55% p.a., designed to suit the needs of various borrowers. With tenures extending up to 30 years and loan amounts covering up to 90% of the property’s value, PNB home loans provide flexible repayment options.
The bank also offers specialized schemes, such as balance transfer facilities for existing home loan borrowers from other banks, and top-up loans. PNB home loans are available for salaried individuals, self-employed professionals, and non-salaried applicants looking to purchase, construct, or renovate residential properties. Special concessions are offered to women borrowers and applicants from select professions.
| HDFC Bank Home Loan Highlights | |
| Particulars | Details |
| Interest Rate | Floating Interest Rates- 8.40% – 10.25% p.a.Fixed Interest Rates- 9.40%- 11.75% p.a. |
| Loan Amount | As per the borrower’s eligibility |
| Tenure | Up to 30 years |
| Processing Fee | Waived off till 31st March 2025 |
Types of Home Loans
| Type of Home Loan | Purpose | LTV Ratio | Tenure | Special Features |
| PNB Home Loan | Purchase/Construction/Renovation | Up to 90% | Up to 30 years | – Flexible repayment options – Tax benefits under Section 24(b) and Section 80C of the Income Tax Act |
| PNB Max Saver | Purchase/Construction/Renovation | Up to 90% | Up to 30 years | – Overdraft facility – Interest savings on higher balance in savings account |
| PNB Suvidha | Purchase/Construction/Extension | Up to 80% | Up to 30 years | – Fast processing – Doorstep service for application |
| PNB Pradhan Mantri Awas Yojana (PMAY) | Affordable housing under PMAY | Up to 90% | Up to 30 years | – Subsidy on interest rates – Available for Economically Weaker Sections (EWS) and Lower Income Groups (LIG) |
| PNB Home Loan for NRIs | Purchase/Construction/Renovation | Up to 80% | Up to 30 years | – Loan in INR- Easy repatriation of funds- Flexible EMI options |
Table of Contents
Why Choose Punjab National Bank Home Loan?
Punjab National Bank Home Loan Features & Benefits
- Get financing on construction/purchase of house/flat, purchase of under-construction residential units, purchase of plot for construction of house, repair/renovation of housing units, and more.
- Women applicants get a concession on interest rate subject to certain conditions.
- Specific schemes are designed for different sections of the society, such as government employees, Gen-Next salaried individuals, economically weaker sections, and more.
- Get a repayment tenure up to 30 years on home loans
- The home loan schemes promote the aim of ‘housing for all’.
Punjab National Bank Home Loan Interest Rate
| Customer Type | Effective Rate Of Interest |
| For Salaried | 8.40% – 10.25% p.a |
| For Self-employed | 8.55% – 10.35% p.a |
Eligibility Criteria for Punjab National Bank Home Loan
| Requirements | Salaried | Self-Employed |
| Residency | Indian/NRI | Indian/NRI |
| Age | 21 to 60 years | 21 to 70 years |
| Minimum Monthly Income | Rs35,000 (Gen- Next Scheme) | As per bank’s norms |
PNB Home Loan Processing Fee and Charges
| Loan Slab | Processing Fee |
| Up to Rs. 25 lakh | 0.50% of loan amount plus GST, maximum Rs. 50,000 plus GST |
| Above Rs. 25 lakh | 0.50% of loan amount plus GST, maximum Rs. 50,000 plus GST |
Other Charges on Home Loans
| Service | Charges |
| Prepayment Charges | Under floating rates- NIL; Under fixed rates- NIL if paid through own sources |
| Penal Charges | 2% per month on defaulted installments |
| Document retrieval charges | Rs 2,000 |
| Providing document list | Rs 500 |
| Photocopies of title documents | Rs 1,000 |
| Cheque bounce charges | Rs 500 |
| ECS/NACH dishonor charges | Rs 300 |
Documents Required for Punjab National Bank Home Loan
| Documents | Salaried Individuals | Self-Employed Professionals |
|---|---|---|
| Aadhaar Card | ✔ | ✔ |
| Voter ID Card | ✔ | ✔ |
| PAN Card | ✔ | ✔ |
| Driving License | ✔ | ✔ |
| Passport (mandatory for NRIs) | ✔ | ✔ |
| Passport-size Photographs | ✔ | ✔ |
| Last 3 month’s Salary Slips | ✔ | ✖ |
| Last 6 months’ Bank Statements | ✔ | ✔ |
| Latest Form-16 and IT returns | ✔ | ✖ |
| Income Tax Returns (last 3 years) | ✖ | ✔ |
| Balance Sheet and Profit & Loss A/c Statements | ✖ | ✔ |
| Proof of business existence | ✖ | ✔ |
| Duly signed application form | ✔ | ✔ |
| Job confirmation proof | ✔ | ✖ |
| Proof of ownership of property | ✔ | ✔ |
| Allotment letter from society if flat/apartment | ✔ | ✔ |
| Up to date tax paid receipt | ✔ | ✔ |
| Cheque for processing fee favoring PNB | ✔ | ✔ |
| Business Profile | ✖ | ✔ |
| Latest Form 26 AS | ✖ | ✔ |
| List of Directors and Shareholders with shareholding certified by a CA | ✖ | ✔ |
| Memorandum and Articles of Association of the Company | ✖ | ✔ |
| Partnership deed | ✖ | ✔ |
| Details of ongoing loans | ✔ | ✔ |
For Salaried Employees
Address proof : Aadhar card, Passport, Driving License, Telephone Bill, Ration Card, Election Card, any other certificate from Statutory Authority
Age Proof : PAN Card, Passport, any other certificate from Statutory Authority
Income Proof: salary slips of last 3 months
For Self-Employed
Address proof – Aadhar card, Passport, Driving License, Telephone Bill, Ration Card, Election Card, any other certificate from Statutory Authority,
Age Proof – PAN Card, Passport, any other certificate from Statutory Authority
Income Proof for business and ITR
How to Apply for a Home Loan at the Punjab National Bank?
You can apply in two ways:
- Through the official Punjab National Bank Ltd. portal by filling out the application form and tracking the application status online.
- Contact Us at +91 636909 5433 or Visit Grow Associates for more convenient option
Punjab National Bank Home Loan Interest Rates vs Other Banks & HFCs
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. |
| SBI Bank | 8.5% p.a. onwards | 8.5% p.a. onwards | 8.5% p.a. onwards |
| HDFC Bank | 8.7% p.a. onwards | 8.7% p.a. onwards | 8.7% p.a. onwards |
| ICICI Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
