Punjab National Bank Home Loan are the most consumer oriented home loans and the reason for many choosing PNB Home Loans for taking care of the financial demands during Construction, purchasing repairing or furnishing their homes. PNB home loan interest rate varies depending on tenure and as per PNB home loan eligibility, PNB home loan review almost 80% of the cost for purchasing, repairing or renovating.

More Details On Punjab National Bank Home Loan Are Below:

PNB home loan interest rate: According to PNB home loan review are available at fixed rate of interest as well as floating rate of interest.

According To Fixed Option For PNB Home Loan Eligibility Upto 20 Lacs Is :

• Upto 5 Years the PNB home loan interest rate is 9.25%
• Upto 10 Years PNB home loan interest rate 10.00%
• Upto 20 Years PNB home loan interest rate 10.50%
• Upto 25 years PNB home loan interest rate 10.75%

Fixed Option For PNB Home Loan  Rate Above 20 Lacs Is :

• Upto 5 Years PNB home loan interest rate 10.00%
• Upto 10 Years PNB home loan interest rate 10.25%
• Upto 20 Years PNB home loan interest rate 10.75%
• Upto 25 years PNB home loan interest rate 11.00%

Floating Option For PNB Home Loan Rate Upto 20 Lacs:

• Upto 5 Years the PNB home loan review states that interest rate is 8.75%
• Upto 10 Years PNB home loan interest rate 9.00%
• Upto 20 Years PNB home loan interest rate 9.25%
• Upto 25 years PNB home loan interest rate 9.50%

Floating Option For PNB Home Loan Rate Above 20 Lacs:

• Upto 5 Years PNB home loan interest rate 9.50%
• Upto 10 Years PNB home loan interest rate 9.50%
• Upto 20 Years PNB home loan interest rate 9.75%
• Upto 25 years PNB home loan interest rate 10.00%

PNB home loan eligibility:

• Punjab National Bank Home Loan is available to residents of India or NRI’s with permanent service or own business with repaying capacity.
• Punjab National Bank Home Loan is available to applicant of age not more than 60 Years for service class.
• Punjab National Bank Home Loan is available to applicant of age not more than 65 Years for self employed or businessman.

PNB home loan can be applied for easily by providing the common documents below:

• Application form
• Copy of income proof
• Copy of residence proof
• Bank statements

Salaried:

• Salary certificate
• Latest salary slip
• Identity proof 
• Form 16.

Self Employed:

• IT returns
• Computation of income and statements of accounts certified by C.A.
• Proof Of Business existence
• Balance Sheet and Profit and Loss Account

PNB Home Loan Review :

 Shows that PNB home loan provides life insurance on one time premium. Maximum Loan amount for repairs renovations etc is Rs. 20 lacs and for furnishing is Rs. 2 lacs. Punjab National Bank Home Loan can be repaid within 25 Years or till borrowers age is 65 Years and maximum 10 Years in case loan is for repairs, renovation etc. PNB home loan rate and various attractive features of PNB home loan have made this loan a safe bet for people looking for some extra finance to fulfill their home needs. PNB Home Loans have helped many make their abode the place to be.

Procedure and options to apply for the loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre Closure Process: In case a customer of PNB home loan wishes to close his loan before the agreed period or term is termed as pre closure. The rate of pre closure is 2%.

Tax Benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.