PNB home loan rates, Punjab National Bank Home Loan Rates

Punjab National Bank(PNB) home loan rates are one of the best rates that are offered by the public sector commercial banks India. Interest rates offered by Punjab National Bank are affordable to suit the budget of every borrower.

 

About Punjab National Bank Home Loan Rates

When you’re searching for a home loan product with the most affordable rate, you should think about the innovative range of home loan products offered by Punjab National Bank. Punjab National Bank home loan rates are attractive and devised to make the repayment of the entire loan convenient for the borrowers.
 

 Upfront fee for Punjab National Bank home loans

The upfront fee payable for Punjab National Bank home loans is as follows:
 

• In case of loans upto Rs. 300 lakhs - 0.50% of the loan amount subject to a ceiling of Rs. 20,000
• In case of a loan amount of more than Rs. 300 lakhs - 0.90% of the amount of loan.

 

Documentation fees for Punjab National Bank home loans

For availing a Punjab National Bank home loan, you need to pay a documentation fee which is equivalent to Rs.1,350 along with education cess and service tax.

 

Mode of repayment of PNB home loans

You can repay your PNB home loan through equated monthly installments (EMIs) within a term of 25 years or before you reach the age of 65 years.

In case of repayment of loan taken for renovation/maintenance/extension/

modification has nevertheless been limited to 10 years.
 

Prepayment penalties for PNB home loans

 You don’t have to pay prepayment penalties if you prepay the loan from your own sources. You also don’t need to pay prepayment penalties if you resort to any other bank within a period of 30 days from the circulation of a notice for rising adjustment in the interest rate to be charged on your account or alteration in other terms of approval.

You will need to pay a prepayment penalty of 2% where your loan account has been taken over by any other bank or financial institution through securing a loan from such banks or financial institutions.

 

The table given below will give you a better understanding of Punjab National Bank home loans rates:

Note: With effect to change in RBI's policies PNB has also hiked BPLR and Base rate to 14.25% and 10.75% respectively from
Aug 1,2011
 

Rate of Interest
For repayment period	Fixed Option for loans (Upto Rs.20 lakhs)	Fixed Option for loans (Over Rs.20 lakhs)	Floating Option for loans (Upto Rs.20 lakhs)	Floating Option for loans (Over Rs.20 lakhs)
i) Upto 5 years	9.25%	10.00%	8.75%	9.50%
ii) Over 5 & upto 10 years	10.00%	10.25%	9.00%	9.50%
iii) Over 10 & upto 20 years	10.50%	10.75%	9.25%	9.75%
iv) Over 20 years & upto 25 years.	10.75%	11.00%	9.50%	10.00%

 

How your loan will be disbursed?

In case of outright purchase of flat/house, the loan amount will be send to the vendor as a one time payment. 

 In case of flats/houses under construction, the amount of loan will be disbursed in phases in line with advancement of construction/requirement by vendor.