Updated on: Jun 7th, 2024
|
4 min read
Punjab National Bank (PNB) is an Indian multinational bank, It is a government corporation founded in 1894. PNB Home Loans offer attractive options and quick services with documentation, processing and other requirements for home loan financing.
Housing Finance Scheme For Public – PNB Max-Saver | This scheme allows you to deposit surplus funds in the overdraft account and withdraw the same up to the drawing power as per your needs. The minimum loan amount is Rs.10 lakh. |
PNB Pride Housing Loan For Government Employees | This scheme is dedicated for government employees, i.e. Central/State Governments/Defence Personnel & Paramilitary Forces – Individuals or Joint owners |
Housing Loan For Public | This scheme is available for all for the purpose of purchase/construction of house/flat, under-construction unit from housing board/development authorities/co-operative societies, etc., addition to house/flat, repair/renovation, and more. |
Pradhan Mantri Awas Yojana – EWS & LIG | This scheme aims at providing housing for economically weaker and low-income groups. |
Pradhan Mantri Awas Yojana – MIG | To ensure housing for middle income groups I and II at attractive interest rates. |
PNB Gen-Next Housing Finance Scheme For Public | The scheme provides home financing to Gen-Next salaried individuals, such as IT professionals, PSBs, PSUs, and government employees. Get 1.25 times the loan amount as calculated for a regular housing loan. |
Housing Loan
Loan Amount | Up To Rs.30 Lakh | Above Rs.30 Lakh Upto Rs.75 Lakh | Above Rs. 75 Lakh | |
---|---|---|---|---|
Floating | LTV Up To 80% | LTV of 80%-85% | LTV Up To 80% | LTV Up To 75% |
PNB Pride (Irrespective Of Risk Profile) | RLLR+ 0.15% i.e., 6.95% | RLLR+ 0.30% i.e., 7.10% | RLLR+ 0.40% i.e., 7.20% | |
Other Schemes | ||||
CIC Score of 750 and above | RLLR+ 0.15% | RLLR+ 0.30% | RLLR+ 0.30% | |
CIC Score of 700 up to 749 | RLLR+ 0.35% | RLLR+ 0.45% | RLLR+0.55% | |
CIC Score of 650 up to 699 | RLLR+ 0.60% | RLLR+ 0.70% | RLLR+ 0.85% | RLLR+ 0.95% |
Women Borrower** With CIC Score Of 800 and above & LTV up to 70% | RLLR |
*RLLR here is Repo Rate Linked Lending Rate and is at 6.80% with effect from 1 September 2020.
PNB Max-Saver
PNB Pride
Housing Loan for Public
PMAY – EWS and LIG
PMAY – MIG
PNB Gen-Next Housing Finance Scheme for Public
Salaried employee | Self-Employed |
Filled up loan application form | Filled up loan application form |
2 Passport Size Photo | 2 Passport Size Photo |
Identity Proof – Passport/ Driving Licence/ Voter ID/PAN | Identity Proof – Passport/ Driving License/Voter ID/PAN |
Residential Address Proof – Leave and License/Registered Rent Agreement/Utility Bill (last 3 months), Passport | Residential Address Proof – Leave and License/Registered Rent Agreement/Utility Bill (last 3 months), Passport |
Income Documents – 6 months’ payslip, 2 years’ Form 16, 6 months bank statement showing salary credit and any EMI debit | Business proof such as VAT/service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile |
Processing Fees* | Documentation Charges* |
---|---|
0.35% of the loan amount Minimum- Rs.2,500 Maximum- Rs.15,000 Full waiver of upfront/processing fees and documentation charges During PNB New Year Bonanza-2021 (from 01.01.2021 to 31.03.2021) | Rs.1,350 Full waiver of upfront/processing fees and documentation charges During PNB New Year Bonanza-2021 (from 01.01.2021 to 31.03.2021) |
Take over of Loan Rs.2,500 Full waiver of upfront/processing fees and documentation charges During PNB New Year Bonanza-2021 (from 01.01.2021 to 31.03.2021) | Rs.1,350/- Full waiver of upfront/processing fees and documentation charges During PNB New Year Bonanza-2021 (from 01.01.2021 to 31.03.2021) |
Pradhan Mantri Awas Yojana (Economically Weaker Section/ Low Income Group) | |
Loan up to Rs.6 lakh- NIL For additional loan amounts beyond the eligible loan amount as above As per the existing housing loan scheme to the public. | Nil |
Pradhan Mantri Awas Yojana (Middle Income Group) Loan up to Rs.9 lakh in MIG-I - NIL Loan up to Rs.12 lakh in MIG - II - NIL For additional loan amounts beyond the eligible loan amount as above- As per the existing housing loan scheme to the public. | |
PNB Max Saver In case the customer has paid Upfront Fees & Documentation Charges at the time of availing Housing Loan: One time charges of Rs.2,500. In case the customer has not paid Upfront Fees & Documentation Charges at the time of availing Housing Loan: Charges as per Housing Loans | |
PNB Pride: Nil |
We offer an important tool, home loan EMI calculator, to help you evaluate and plan your budget for a home loan.
The margin offered on PNB home loans are as follows:
Housing Loan Upto Rs.30 lakh | 20% (15% in certain cases*) |
Housing Loan Above Rs.30 lakh and up to Rs.75 lakh | 20% |
Housing Loan Above Rs.75 lakh | 25% |
Purchase of Land/Plot for House Building | 25% |
Pensioners of Central and State government bodies can apply for a home loan under PNB Pride home loan scheme. Contact the bank for more details on the same as the facility may be subject to conditions.
No. The financing is available only if you are purchasing the plot to construct a house. If you just want to purchase a plot, financing will not be provided.
The margin offered on PNB home loans are as follows:
Here is everything you need to know about credit-linked subsidy scheme:
Punjab National Bank (PNB) offers various home loan schemes including PNB Max-Saver, PNB Pride, PMAY for EWS & LIG, PMAY for MIG, and Gen-Next Housing Finance Scheme. The bank provides loans for different income groups like government employees, Gen-Next salaried, EWS, and more. Interest rates are based on CIC scores and loan amounts. Besides, PNB offers concessions for women applicants and up to 30 years repayment tenure.