You can now call our toll-free number or send an SMS showing your interest in the home loan. Nonetheless, the easy and best way to apply for a home loan is online.
PNB Housing Finance Home Loan
PNB Housing Finance Limited (PNBHFL) provides home loans starting at 8.60% per annum for terms of up to 30 years, with loan amounts covering up to 90% of the property’s worth. The HFC provides Roshni Home Loans, unique affordable housing loan programs tailored for low-income applicants who possess sufficient home loan repayment ability, regardless of having formal income documentation or not.
PNB Housing Finance Home Loan Highlights
| Particulars | Details |
|---|---|
| Interest Rate | 8.60% per annum onwards |
| Loan Amount | Rs 8 lakh onwards |
| LTV Ratio | Up to 90% of property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | Up to 0.25% of loan amount + GST |
| Minimum Monthly Income | Rs 15,000 |
| Minimum Credit Score | 611 and above |
Table of Contents
PNB Housing Home Loan Rate of Interest
PNB Housing Finance’s Home Loan interest rates begin at 8.60% per annum, varying according to the loan amount, credit rating, type of employment, and the specific home loan scheme available to applicants. Listed below are the home loan interest rates established by PNB Housing Finance for its different home loan programs.
Compare Kotak Home Loan Interest rates with Banks/NBFCs
| Banks/NBFCs | Interest Rate (%) | Action |
|---|---|---|
| Aadhar Housing Pvt Ltd | 10.50% onwards | Apply Now |
| Axis Bank | 8.55% onwards | Apply Now |
| Bajaj Housing Finance | 8.50% onwards | Apply Now |
| HSBC | 8.45% onwards | Apply Now |
| Godrej Housing Finance | 8.75% onwards | Apply Now |
| Capri Global Housing Finance Ltd | 10% onwards | Apply Now |
| Bank of Baroda | 8.40% onwards | Apply Now |
| DBS Bank | 8.50% onwards | Apply Now |
| Edelweiss Housing Finance Ltd | 8.70% onwards | Apply Now |
| Indiabulls | 8.80% onwards | Apply Now |
| Federal Bank | 8.60% onwards | Apply Now |
| HDFC Ltd. | 8.60% onwards | Apply Now |
| ICICI Bank | 8.65% onwards | Apply Now |
| ICICI Home Finance | 8.90% onwards | Apply Now |
| Kotak Mahindra Bank | 8.50% onwards | Apply Now |
| PNB Housing Finance | 8.60% onwards | Apply Now |
| State Bank of India | 8.45% onwards | Apply Now |
| IIFL | 8.90% onwards | Apply Now |
| Aditya Birla Housing Limited | 8.75% onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% onwards | Apply Now |
| Piramal Housing Finance Ltd | 10.50% onwards | Apply Now |
Types of PNB Housing Finance Home Loan
Some of the types of PNB Housing Finance Home Loan are mentioned below:
1. Home Loan Purchase
- Purpose: This loan gives financial aid to those wishing to purchase a new or a pre-owned home.
- LTV Ratio: Up to 90% of property value
- Tenure: Up to 30 years
2. Home Construction Loan
- Purpose: PNB Housing offers Home Construction Loan tailored to applicant’s budgets and construction needs. It is for individuals who want to construct their home rather than buy a pre-built one.
- Tenure: Up to 30 years
3. Home Improvement Loans
Purpose: PNB Housing offers Home Improvement Loan to carry out upgradation or repair or tiling or flooring/roofing/water-proofing/plumbing/false-ceiling/electrical work/wood work/wood work of existing residential properties.
4. Home Extension Loan
Purpose: Applicants can avail Home Extension Loans from PNB Housing Finance for adding more space to their existing house.
5. Plot Loan
Purpose: Plot loans allow you to finance a residential plot. However, the interest rates on plot loans are slightly higher than house loans for purchase.
LTV Ratio: Up to 70-75% of plot’s market value.
6. Home Loan for NRIs
Purpose: Plot loans allow you to finance a residential plot. However, the interest rates on plot loans are slightly higher than house loans for purchase.
LTV Ratio: Up to 70-75% of plot’s market value.
7. Roshni Home Loan
- Purpose: PNB Housing Roshni Home Loan is an economical housing loan program designed for individuals who are new to credit or self-employed with informal earnings from a low/middle income bracket and a monthly household income of at least Rs 10,000.
- Loan Amount: Rs 5 lakh to Rs 50 lakh
- LTV Ratio: Up to 90%
- Tenure: Up to 30 years
Eligibility Criteria for PNB Housing Finance Home Loan
For Salaried Applicants
- Age: All salaried applicants must be above the age of 21 years at the time of commencement of loan. Additionally, your age should not exceed 70 years at the time of the maturity of the loan.
- Residency: You should be a permanent resident of India.
- Work experience: You should have a minimum work experience of 3 years.
- Salary: Minimum salary required Rs 15,000 per month or more
- Loan amount: Rs 8 lakh onwards
- Tenure: Up to 30 years
- LTV: Up to 90%
- Required Credit Score: 611+
For Self-Employed/Business Owners
- Age: Applicants should be 21 years or above at the time of applying for a home loan. Age should not exceed 70 years at the time of home loan maturity.
- Residency: You should be a permanent resident of India.
- Work Experience: You should have at least 3 years of business continuity.
- Loan Amount: Rs 8 Lakh onwards.
- Tenure: Up to 20 years.
- LTV: Up 90%
- Additional: You apply for income tax returns.
- Credit Score: Minimum credit score of 611 is needed to apply for a Home Loan.
Documents Required for PNB Housing Loan
The documents required for home loan from PNB Housing Finance for different are mentioned below:
For Developer property (Direct Allotment from the Developer)
- Allotment letter
- Builder buyer agreement
- Payment receipt
- Permission to mortgage from the respective authority
- Regulatory guidelines
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 (Housing Loan)
- Address proof: Aadhar card, Telephone Bill, Ration Card, Election Card, Passport, Driving License, Any other Certificate from Statutory Authority
- Age Proof: PAN Card, Passport, Any other Certificate from Statutory Authority
- Income Proof: salary slips of last 3 months, latest 6 months’ bank statement, Form 16 for last 2 years
For Self Employed
- Age Proof: Passport, PAN Card, Any other Certificate from Statutory Authority
- Address proof: Aadhar card, Driving License, Telephone Bill, Passport, Election Card, Ration Card, Any other Certificate from Statutory Authority,
- Income Proof: Pertaining to business and ITR, such as proof of business existence, accountant-certified balance sheets, last 3 years’ income tax returns, and last 12 months’ bank account statement
PNB Housing Loan EMI Calculator
Applicants for home loans from PNB Housing Finance can utilize the Home Loan EMI Calculator to determine their overall interest cost and EMI by experimenting with different combinations of loan amount, interest rate, and loan duration. Therefore, people intending to apply for a home loan with PNB Housing loan can select their ideal tenures according to their repayment ability.
How to Apply for a Home Loan Through OneNDF
When seeking a mortgage loan at OneNDF, you won’t need to navigate a pile of paperwork or endure a tedious process. Here’s the approach to take:
- Visit the official website of OneNDF and register or login.
- Register on the funds using your mobile number and generate a one time password.
- Upload any required financial or identification documents.
- Complete the mortgage application form.
- Through OneNDF, you will get in touch with numerous lenders that are ready to provide you with great rates on their mortgages.
That’s all! Your application has been sent. A member of our team will reach out to you soon to assist you with the upcoming steps.
FAQs
The home loan applicants need to have a minimum credit score of 611 for availing home loans from PNB Housing Finance.
Indeed, it is possible to obtain two home loans simultaneously. Nonetheless, it is essential to possess sufficient repayment ability to manage two home loans.
PNB Housing typically takes 5-7 days to approve home loan applications. Nevertheless, if the applicant does not provide the income or property documentation, the approval process could experience delays.
The duration of the loan can be adjusted upon the customer’s request. It is always possible to prepay the principal amount of the loan to shorten the loan duration. PNB Housing will assess your loan statement and latest income documents to adjust the requested loan duration.
Yes, PNB Housing Finance offers reduced home loan interest rates to applicants with better credit scores. For example, PNB Housing Finance offers the lowest interest rate tiers for applicants with credit scores of 800 or higher, while the highest rate tiers are designated for those with credit scores of 650 or below.
