Punjab National Bank Home Loan

 

About Punjab National Bank Home Loans

Punjab National Bank (PNB) was founded in the year 1894 and has emerged as a prominent Indian multinational banking and financial services company. Based out of New Delhi, India, PNB is a state owned corporation, which has 6937 branches and 10,600 ATMs spread all over India. The bank serves more than 18 million customers with the help of its 70,000+ employees. Having an asset base of ₹ 4.97 trillion Punjab National Bank is considered the third largest bank in India.

Punjab National Bank offers a wide range of home loan products to cater to the unique needs of Indian borrowers. These home loan products are: Housing Finance Scheme for Public – PNB Max Saver, Housing Loan for Public, PNB Pride Housing Loan for Govt. Employees, Housing Loan under Pradhan Mantri Awas Yojana, PNB Gen-Next Housing Finance Scheme and Private Builders Approved Projects on PAN India Basis. Out of all these, PNB Housing Loan for Public is their most sought-after product targeted at the general public looking to fulfil their housing dreams. You can refer to the below-provided details for updated information on Punjab National Bank Home Loan eligibility criteria, features and charges.

Home Loan Eligibility Criteria for Salaried / Self-Employed

The eligibility criteria for Punjab National Bank Home Loans might vary from product to product. The loan can be applied for by anyone (individual or joint owners) as long as the applicant(s) has/have a regular source of income through employment or self-employment. The age of the applicant(s) should not be less than 18 years, and no more than 70 years (at the time of loan maturity). Other specific and updated details on Punjab National Bank Home Loan eligibility criteria can be found below.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

6 – 10 yearsk

Overall Employment

6 – 10 years

Tenure Current Employment

750 Points

CIBIL Score (=>)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income
(Doctors/ CA)

5 – 10 Years

Post Qualification experience a
(Doctors / CA)

5 – 10 Years

Post Qualification experience a
(CS / Architect)

750 Points

CIBIL Score (=>)

Punjab National Bank Home Loan Features / Details

As there are multiple variants of Punjab National Bank Home Loan, their features and details might also vary from product to product. On the whole, you can avail their home loan for construction of a new apartment/house or purchase of an already existing property. The availed home loan amount can even be used for renovation and repairs of an already existing home. The repayment tenure is normally capped at 30 years. Punjab National Bank is very transparent in its dealings and there are no hidden charges. You can find up to date details on Punjab National Bank Home Loan features below.

8.40%

Interest Rate (Min)

5 – 30 Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

Punjab National Bank Home Loan Fees / Charges

A processing fee is of 0.5% is applied on home loans of up to ₹ 3 crore (maximum ₹ 20,000). There are no pre-closure charges. Other pertinent charges like late payment fee, cheque bounce charges, duplicate document charges, amortization schedule charges, loan cancellation charges etc. might come into application depending upon the situation and the requirement of the borrower. Updated details on all such charges are provided below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees