Pnb home loan interest rate

Punjab National Bank offers a variety of home loan schemes at competitive rates starting from 8.60% p.a.with a maximum loan of Rs.1 crore. You have the flexibility to extend the repayment tenure to 30 years (maximum). The processing fee applicable is 0.35% of the loan amount plus GST. EWS, LIG, and MIG applicants can enjoy subsidised rates under the PMAY scheme through PNB. More Punjab National Bank, one of the public sector banks in the country offers a variety of home loans. Some of the housing loans offered are – PNB Max Saver, PNB Gen-Next Housing Finance, PNB Pride Housing loan. The bank offers home loan in excess of Rs.75 lakh at attractive interest rates. • • There is no cap on the maximum loan amount that can be availed, subject to maintenance of the prescribed Loan to Value (LTV) ratio • The repayment period for the loan is 30 years • Can be availed by IT professionals, PSBs/PSUs/Government employees Compare: Processing fee: 0.35% of the loan amount (Min of Rs.2,500 and Max of Rs.15,000) • • Allow beneficiaries to deposit their surplus funds in the overdraft account • A minimum of Rs.10 lakh can be availed as loan • The present outstanding of the loan amount is taken into consideration for conversion of the loan under this variant • Interest Rate: 8.75% p.a. • • Can be availed at attractive rates. • The loan can be repaid over 30 years inclusive of the moratorium period. • A maximum of Rs.50 lakh. • Processing fee:0.35% of the loan amount • Interest rate starting ...

Synopsis Apart from State Bank of India (SBI), ICICI Bank, mortgage lender HDFC Ltd., the Punjab National Bank (PNB) has also announced the hike in the home loan interest rate from October 1, 2022. As per the announcement made via bank's website, the bank has announced the hike in repo linked lending rate, MCLR and base rate. Here's all you need to know about it. Punjab National Bank (PNB) has hiked the interest rate on home loans. The bank has hiked the repo-linked lending rate (RLLR) by 50 basis points (100 bps = 1%) from 7.70% to 8.40%. Along with this, the bank has also hiked the marginal cost of funds lending rate (MCLR) by 0.05% on all tenures. The bank has announced a hike in base rate by 5 bps. “The Base rate has been revised from 8.75% to 8.80% w.e.f. 01-10-2022,” said the bank’s website. How much home loan EMI will increase? All the home loans disbursed by banks are currently linked to an external benchmarking lending rate (RLLR). With the latest hike in RLLR by 50 bps, here is an example showing how much your EMI outgo is likely to impact. Suppose Mr X has taken a home loan of Rs 30 lakh for a tenure of 25 years. The old interest rate charged on a home loan is 7.90% and the new interest rate is 8.40%. As per RBI guidelines, “The Marginal Cost of Funds based Lending Rate (MCLR) prevailing on the date of first disbursement, whether partial or full, shall be applicable till the next reset date, irrespective of the changes in the benchmark during the interim. Future...

Similar to other banks like ICICI Bank, Bank of India who did not change their lending rates in May 2023, Punjab National Bank did not change its marginal cost of lending rates. Punjab National Bank has not changed the MCLR for the month of May. According to the PNB website, PNB's overnight benchmark marginal cost of lending is at 8 percent, the rates for one month, three months, and six months at 8.10 percent, 8.20%, and 8.40 percent, respectively. The one-year MCLR stands at 8.50 percent, while the three-year MCLR is 8.80 percent. PNB Base Rate The base rate of PNB is 9.50% effective from April 1, 2023. MCLR rates will take more time to peak Home loan borrowers under the MCLR regime appear to be better off keeping to the regime since they will be paying reduced EMIs for a longer period of time as the rising interest rate regime is anticipated to continue for some time. Their loan rates will gradually increase to levels that are comparable to the increased repo rate. They can prepare to transition to EBLR, which is quicker at passing on the advantage of interest rate reductions, once the interest rate cycle peaks or rates begin to decline. New borrowers can get better rate In contrast to existing borrowers, who have few options for escaping the grip of rising interest rates, new borrowers will generally do better since they can obtain loans at lower rates. According to data from the RBI, the WALR on new rupee loans made by SCBs climbed by 2 basis points (bps), from 8.86% ...

Particulars Details Interest Rate 8.60% - 9.95% Loan Amount 75%-80% of the property cost Loan Tenure Up to 30 years Processing Fee 0.50% of the loan amount, subject to a maximum of INR 50,000 Prepayment Charges NIL PNB Home Loan Balance Transfer Rates Since a home loan goes for as long as 30 years, it makes a case for PNB Home Loan Documents Required Here’s a list of the following documents you must submit to get the nod for a home loan. Proofs Salaried Self -employed/Professionals Age Proof Passport/PAN Card or Any Other Certificate from Statutory Authority Passport, PAN Card or Any Other Certificate from Statutory Authority Identity Proof PAN Card/Passport/Voter ID/Driving License PAN Card/Passport/Voter ID/Driving License Residence Proof Passport/Driving License/Voter ID/Ration Card/Telephone Bill Passport/Driving License/Voter ID/Ration Card/Telephone Bill Income Proof Salary Slips for Past 3 Months Form 16 for Past 2 Years Last 6-month Bank Statement ITR for Last 3 Years CA-certified Profit & Loss Account and Balance Sheet of Last 3 Years 1-year Bank Statement (Both Self & Business) Processing Fee Cheque Applicable Applicable Property Documents Photocopy of Property Title Document Photocopy of Property Title Document Frequently Asked Questions 1. What is the current PNB home loan rate?