PNB Housing Finance (PNBHFL) Home Loan Interest Rates
Last Updated : Jan. 29, 2025, 6:33 p.m.
What makes one housing loan different from another is the interest rate. PNB Housing Finance (PNBHFL) Home Loan Interest Rates vary based on the scheme, making it a key factor in choosing the right option. PNBHFL is a renowned name in the industry for providing funds for various purposes, with rates subject to change depending on the loan type. Both salaried and self-employed professionals can apply for a home loan , ensuring flexibility. Now, let’s explore the home loan interest rates and other charges related to PNBHFL.
PNB Housing Finance Home Loan Interest Rate February 2025
The information below includes the most important details about the PNB housing loan. With the help of these, you will understand the home loan offered by PNBHFL in a better way.
| Particulars | Details |
|---|---|
PNBHFL Interest Rate | 8.50% - 11.45% p.a. |
Loan Amount | Up to 90% of the house value |
Tenure | Up to 30 years |
Processing Fees | A low processing fee that is highly competitive in the market |
CIBIL Score | Minimum 611 |
Factors That Affect PNB Housing Finance Home Loan Interest Rates
Everyone wants the lowest possible home loan interest rate. By using a home loan EMI calculator, you can estimate your interest costs, which depend on several key factors:
- Income: A stable, high income lowers risk for lenders, leading to better rates.
- Loan Amount: Higher loan amounts often come with higher interest rates.
- Interest Rate Type: Fixed rates offer stability while floating rates fluctuate with the market.
- Credit Score: A 750+ CIBIL score improves eligibility for lower interest rates.
- Employment Type: Salaried applicants usually get lower rates than self-employed individuals.
- Type of Home Loan: Specialized loans (e.g., plot or top-up loans) may have higher rates.
Understanding these factors can help you negotiate a more favorable home loan interest rate.
Avail of PNB Housing Finance (PNBHFL) Home Loan at Low Interest Rate
Several factors influence home loan interest rates in India, including income, loan amount, employment type, and credit score. Here are some tips to secure the best rates:
- Increase Down Payment & Tenure: A higher down payment reduces the loan amount, and a longer tenure (15-20+ years) lowers EMI burdens.
- Choose the Right Interest Type: Fixed rates offer stable EMIs while floating rates vary with market trends.
- Improve Income & Employment Status: A stable income and employment with a reputed company or PSU can help secure better rates.
- Enhance Credit Score: A score of 750+ improves loan eligibility and interest rates.
- Apply with a Female Co-Applicant: Many lenders offer lower rates for women borrowers.
- Consider a Balance Transfer: Shift your loan to another lender offering better terms.
- Watch for Offers & Promos: Festive discounts and lender tie-ups can provide lower rates.
Eligibility Criteria of PNB Housing Finance (PNBHFL) Home Loan
Here are the eligibility criteria for salaries and self-employed/ business owners. Check the table to learn more about it -
| Description | Salaried | Self-employed/ Business owners |
|---|---|---|
Age | All salaried applicants must be at least 21 years old at the time of loan commencement and should not exceed 70 years at the time of loan maturity. | Applicants must be at least 21 years old when applying for a home loan and should not exceed 70 years at the time of loan maturity. |
Residency | Applicants must be a permanent resident of India. | Must be a permanent resident of India. |
Work Experience | A minimum of 3 years of work experience is required. | A minimum of 3 years of continuous business operation is required. |
Salary | The minimum monthly wage should be Rs.15,000 or more. | Starts from Rs.8 lakh. |
Loan Amount | Starts from Rs.8 lakh. | Up to 20 years. |
Tenure | Up to 30 years. | Up to 90%. |
LTV (Loan-to-Value Ratio) | Up to 90%. | Applicants must file income tax returns. |
Credit Score Requirement | 611 or above. | A minimum credit score of 611 is required to apply for a home loan. |
Calculate EMI with PNB Housing Finance (PNBHFL) Home Loan Calculator
Here is an example of a different EMI with a loan tenure of up to 30 years with a home loan of Rs. 35,00,000 and interest rates ranging from 8.50% - 11.45% p.a. You can easily get an idea of your monthly EMIs for the home loans availed from PNB Housing Finance (PNBHFL) Home Loan .
You can simply put the following details -
- Loan Amount
- Tenure
- Interest Rate
| Tenure (In Years) | EMI (at 8.50% interest rate) | EMI (at 11.45% interest rate) |
|---|---|---|
5 | Rs.71,808 | Rs.76,886 |
10 | Rs.43,395 | Rs.49,108 |
15 | Rs.34,466 | Rs.40,775 |
20 | Rs.30,374 | Rs.37,205 |
25 | Rs.28,183 | Rs.35,449 |
30 | Rs.26,912 | Rs.34,527 |
Documents Required for PNB Housing Finance (PNBHFL) Home Loan
Here is the list of documents needed for the Housing Loan of PNB Housing Finance (PNBHFL) for Salaried and self-employed/ business owners -
| Title | Salaried | Self Employed/ business owners |
|---|---|---|
Address Proof | Aadhaar Card, Passport, Driving License, Telephone Bill, Ration Card, Voter ID, or any other certificate issued by a Statutory Authority. | Aadhaar Card, Passport, Driving License, Telephone Bill, Ration Card, Voter ID, or any other certificate issued by a Statutory Authority. |
Age Proof | PAN Card, Passport, or any other certificate issued by a Statutory Authority. | PAN Card, Passport, or any other certificate issued by a Statutory Authority. |
Income Proof | Salary slips for the last 3 months. | Income Tax Returns (ITR) and business financial statements. |
Other Charges on PNB Housing Finance (PNBHFL) Home Loan
Processing fees | Up to 1% of the loan amount |
CERSAI Charges | A fee of Rs.50 + GST is charged on a loan amount of Rs.5 Lakhs. a fee of Rs.100 + GST will be applied for loans over Rs.5 Lakhs. |
Overdue Charge | 24% p.a. on overdue EMI for the delay period. |
Loan Pre-closure statement | Rs 750/- + GST |
ROI Change - Fixed to Floating | 3% of POS + GST |
ROI Change - Floating to Floating | 0.5% of POS + GST |
ROI Change - Fixed/Floating to Fixed | 3% of POS + GST |
Swap of Property Fee | Rs 25000/- + GST |
Fee for EMI payment in cash/single cheque | Rs 1000/- + GST |
Summary!
PNB Housing Finance (PNBHFL) Home Loan Interest Rates vary based on the loan scheme, applicant profile, and market conditions. The company offers competitive rates to both salaried and self-employed individuals, ensuring flexible financing options. With loan amounts starting from Rs.8 lakh and tenures of up to 30 years, borrowers can choose repayment plans that suit their needs. Additionally, PNBHFL provides home loans with high loan-to-value (LTV) ratios of up to 90%, making homeownership more accessible. Interest rates are subject to periodic revisions, so applicants should check the latest rates before applying.
Frequently Asked Questions (FAQs)
