PNB Home Loan Interest Rates

In our previous post, we discussed the SBI Home loan interest rates. Not only SBI but also PNB and many other banks provide Home loans to fulfill your dream of making a home. PNB offers attractive home loan interest rates which start from 8.50% p.a. which depend upon many factors e.g. CIBIL Score, salaried people, non-salaried people, credit score, etc. Basically, PNB Housing offers home loans at floating interest rates.

PNB Home Loan Interest Rate for Amounts up to 35 Lakh

Credit Score	Salaried Public	Non Salaried Public
>=825	8.5% to 9%	8.8% to 9.3%
>800 to 825	8.5% to 9%	8.9% to 9.4%
>775 to 799	9.1% to 9.6%	9.65% to 10.15%
>750 to <=775	9.25% to 9.75%	9.8% to 10.3%
> 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%	10.55% to 11.05%

Home Loan Interest Rate for Amounts Above 35 Lakh

Credit Score	Salaried Public	Non Salaried Public
>=825	8.5% to 9%	8.8% to 9.3%
>800 to 825	8.5% to 9%	8.9% to 9.4%
>775 to 799	9.2% to 9.7%	9.8% to 10.3%
>750 to <=775	9.35% to 9.85%	10.15% to 10.65%
> 725 to < =750	9.7% to 10.2%	10.3% to 10.8%
> 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%	10.85% to 11.35%
NTC Cibil <170	10.35% to 10.85%	10.75% to 11.25%

Commercial Property Purchase Loan Interest Rates

Credit Score (Any loan amount)	Loan for purchase of non-residential property (NRP)
>=825	9.25% to 9.75%
>800 to 825	9.35% to 9.85%
>775 to 799	10.3% to 10.8%
>750 to <=775	10.9% to 11.4%
> 725 to < =750	11.3% to 11.8%
> 700 to <= 725	11.75% to 12.25%
> 650 to <= 700	11.95% to 12.45%
upto 650	11.95% to 12.45%
NTC Cibil >=170	11.85% to 12.35%
NTC Cibil <170	11.75% to 12.25%

Loan Against Property: Interest Rates

Credit score (any loan amount)	Loan Against Commercial Property	Loan Against Residential Property (LAP)	Loan against Plot/ Loan against Special Property* (Residential/Commercial)
>=825	9.25% to 9.75%	9.25% to 9.75%	9.25% to 9.75%
>800 to 825	9.35% to 9.85%	9.35% to 9.85%	9.35% to 9.85%
>775 to 799	10.3% to 10.8%	10.3% to 10.8%	10.3% to 10.8%
>750 to <=775	10.9% to 11.4%	10.9% to 11.4%	10.9% to 11.4%
> 725 to < =750	11.3% to 11.8%	11.3% to 11.8%	11.3% to 11.8%
> 700 to <= 725	11.75% to 12.25%	11.75% to 12.25%	11.75% to 12.25%
> 650 to <= 700	11.95% to 12.45%	11.95% to 12.45%	11.95% to 12.45%
upto 650	11.95% to 12.45%	11.95% to 12.45%	11.95% to 12.45%
NTC Cibil >=170	11.85% to 12.35%	11.85% to 12.35%	11.85% to 12.35%
NTC Cibil <170	11.75% to 12.25%	11.75% to 12.25%	11.75% to 12.25%

Lease Rental Discounting Loan Interest Rate

Credit Score (Any loan amount)	Lease Rental Discounting (LRD)
>=825	9.25% to 9.75%
>800 to 825	9.35% to 9.85%
>775 to 799	10.3% to 10.8%
>750 to <=775	10.9% to 11.4%
> 725 to < =750	11.3% to 11.8%
> 700 to <= 725	11.75% to 12.25%
> 650 to <= 700	11.95% to 12.45%
upto 650	11.95% to 12.45%
NTC Cibil >=170	11.85% to 12.35%
NTC Cibil <170	11.75% to 12.25%

Features & Benefits of PNB Home Loan

• Attractive Interest Rate
• Home Loan up to a 30-year Tenure
• Easy Finance
• Low Processing Fee
• Customer-Friendly Features & Convenience

Eligibility Criteria for PNB Home Loan

Factor	Salaried	Self-Employed/Business Owners
Age	21 to 70	21 to 70
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	up to 30 years	up to 20 years
Nationality	Indian/NRI	Indian

Types of PNB Home Loan

Home Construction Loan

A home construction loan is a type of home loan that allows customers to obtain the necessary funds to finance the construction of residential house property on a piece of land. Basically, PNB has 30 years of expertise in home loans and offers affordable EMIs and a hassle-free online application process. In this scheme, Multiple Repayment Options are also available.

Home Extension Loan

PNB Home extension loan offers Loans when you want to add more space to your existing home. As your family grows, you may need an extra space for your children, a reading room for study and a guest room for your guests, etc. So, PNB makes it easy for you to extend your existing home as per your needs.

Home Improvement Loan

A Home Improvement Loan or a Home Renovation Loan gives finance to customers for renovation, refurbishment, or repair of their property. Customers can use this money to modernize their homes, fix any issues, and also add new furniture.

Basically, PNB offers competitive Home Improvement Loan interest rates not only for salaried but also for self-employed or businessmen to help them renovate their homes.

Plot Loan

A plot loan is a type of home loan that allows you to finance the loan for a residential plot. This is the land on which you will be able to build a dream home later. Plots can be purchased by direct allotment in real estate housing societies or directly from development authorities.

Most financial institutions, including PNB Housing, will finance in the range of  70-75% of the plot’s market value price. Interest rates of land purchase loans are slightly higher (usually 1% higher ) than typical house loans, and tenor range from (10 to 15 years). 

Home Loan for NRI

PNB offers a wide range of home loan products to NRIs (Non-Resident Indians) and PIOs (Persons of Indian Origin) for the purchase, construction, repair, and renovation of residential property in India.

PMAY (Pradhan Mantri Awas Yojana)

PNB Housing Finance offers “Credit Linked Subsidy Scheme (CLSS) ” for EWS (Economical Weaker Section), LIG (Lower Income Group), and MIG (Middle Income Group) categories under Pradhan Mantri Awas Yojana.

Under the PMAY scheme, the Customer (i.e. the beneficiary) is eligible to avail interest subsidy on the purchase/construction/enhancement of a house.

Commercial Property Loan

PNB offers a wide range of loans for purchase, and construction of commercial property in approved areas. This includes loans for office space, shops, etc.

Loan Against Property

PNB provides loans against mortgage of existing residential, and commercial immovable property in their branch locations. The end use of the loan may be towards the expansion of business, foreign travel, personal requirements such as education, marriage of children, family function, medical expenses, furnishing of the house, buying high-cost consumer durable, etc. However, funds should be used for only a legitimate purpose.

Roshni Home Loans

PNB Housing Finance has launched the Roshni Home Loan scheme which is very affordable and supports an individual’s dream of owning a home. PNB Housing Finance Ltd gives the opportunity to applicants who are new to credit, self-employed with informal income from a low/middle-income group with a monthly household income of Rs. 10,000.

Document Required for Home Loan

Documents for home loans will depend upon the nature of the property. The common documents checklist is given below:-

For Developer property

• Allotment letter
• Builder buyer agreement
• Payment receipt
• Permission to mortgage from the respective authority

For Resale Property

• Agreement to sell
• All prior deeds from the first allotment of the property
• Sale deed/Conveyance deed in favor of the seller
• Approved map of the property
• Possession certificate and land tax receipt from relevant authorities
• Builder or society provided No Objection Certificate

For Salaried Employees

• Proof of Address –Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, etc. 
• Proof of Age – PAN Card, Passport, Any other Certificate from Statutory Authority
• Proof of Income – Salary slips for the last 3 months, Form 16 for the last 2 years, and also need the latest 6 months bank statement.

For Self Employed

• Proof of Address – Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority, 
• Proof of Age – PAN Card, Passport, Any other Certificate from Statutory Authority
• Proof of Income – 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.

For more information about PNB Home Loan visit the official site Click Here.