Owning a home is a milestone many aspire to achieve, but the financial hurdles can seem daunting. Punjab National Bank (PNB) and its housing finance arm, PNB Housing Finance, offer tailored home loan solutions to turn this dream into reality. The focus on low EMIs ensures borrowers can manage repayments comfortably while building equity in their property.
The interest rate on home loans by PNB Housing Finance is a critical factor in determining the overall cost of your loan. PNB Housing Finance structures rates based on borrower profiles, credit scores, and loan types, ensuring transparency and competitiveness.
| Borrower Category | Starting Interest Rate | Highest Interest Rate (Based on Credit Score/Assessment) | Notes |
| Salaried Borrowers | 8.25% p.a. | Up to 9.75% p.a. (for credit scores ≥825) | Lower rates for stronger credit profiles |
| Self-employed Professionals | 8.55% p.a. | Up to 10.05% p.a. | Rate varies with financial assessment |
| Self-employed Non-professionals / Businessmen | 8.80% p.a. | Higher slabs for lower credit scores | Based on business stability and creditworthiness |
For specialised products:
| Loan Type | Starting Interest Rate | Purpose |
| Plot Loan | 9.25% p.a. | For purchasing land and future construction |
| Home Renovation Loan | 8.25% p.a. (floating) | For home repairs, upgrades, and improvement work |
Disclaimer: The interest rates shown in these tables are indicative and may change based on PNB Housing Finance’s internal policies, credit assessment, and regulatory revisions. Borrowers should verify the latest rates before applying.
Interest rates vary by:
One of the standout features of home loans by PNB Housing Finance is the emphasis on affordable EMIs. With tenures extending to 30 years, monthly installments are spread out, easing financial strain.
EMI (Equated Monthly Installment) comprises principal and interest, calculated using the formula:
EMI = [P × R × (1+R)^N] / [(1+R)^(N-1)]
Where P = Principal, R = Monthly Interest Rate, N = Number of Months.
PNB Housing Finance’s online EMI calculator simplifies this process. Inputs include:
To qualify for a home loan from PNB Housing Finance, applicants must meet straightforward criteria designed for broad accessibility.
These criteria vary by employment type and help determine how much you can borrow:
| Category | Key Criteria |
| Salaried | Minimum 1 year experience; employer in approved list. |
| Self-Employed | 2-3 years in business; ITRs for the last 2 years. |
| NRIs | Employment abroad; minimum 2 years experience. |
Disclaimer: The eligibility details in this table are indicative and may vary based on PNB Housing Finance’s internal policies and verification procedures.
Applying for a house loan is streamlined at PNB Housing Finance, with digital options for convenience.
For instant pre-approval, upload basics online which is ideal for first-time buyers. Avoid common pitfalls like incomplete documents to ensure smooth processing.
PNB home loans combine low pnb home loan interest rate, affordable EMIs, and hassle-free processes to realise your homeownership dreams. Whether constructing anew or renovating, these options provide financial peace of mind. Start by using the EMI calculator and eligibility tools on the PNB Housing website. Apply online for a house loan by PNB Housing Finance today and step closer to your ideal home that is affordable, secure, and tailored just for you.
