Punjab National Bank Home Loan
A home loan is a secured borrowing used to fund the purchase of a ready or under-construction house or flat, the construction of a home on owned land, the purchase of a plot for house building, or additions, repairs, renovation and furnishing of an existing dwelling. The loan is repaid over a long horizon in monthly instalments and is secured by a mortgage on the financed property, which is why interest costs are usually lower than on unsecured credit.
Punjab National Bank, a public sector bank founded in 1894 and headquartered in New Delhi, offers housing finance through a family of schemes rather than a single product. Alongside its general housing loan for the public, the bank runs a digital housing loan that can be applied for online with reduced paperwork, a Max-Saver variant that pairs the loan with an overdraft so idle surplus funds can lower interest and be withdrawn when needed, and targeted schemes such as PNB Pride for government employees and PNB Gen-Next for salaried professionals.
Eligibility can be strengthened by adding a spouse, earning children, joint owners or parents as co-borrowers. The bank emphasises balance transfer of an existing home loan into PNB, doorstep service and a callback facility, and it lists housing loans linked to the government's Pradhan Mantri Awas Yojana. Sanction, margin and final terms depend on the borrower's profile, property and credit assessment and are not guaranteed.
At 7.5%, Punjab National Bank has one of the lowest starting rates of the 20 lenders we track for home loans.
Eligibility
The upper age limit is set so the loan closes by retirement.
Loan terms
- A Max-Saver variant that links the loan to an overdraft so surplus funds reduce interest and can be withdrawn when required
- A digital housing loan that can be applied for online with reduced paperwork and faster processing
- Balance transfer of an existing home loan from another lender into PNB
- Dedicated schemes for specific segments, including PNB Pride for government employees and PNB Gen-Next for salaried professionals
- Co-borrower flexibility allowing spouse, earning children, joint owners or parents to be added to strengthen the application
Documents
- Loan application form duly completed with photograph
- Identity proof
- Address / residence proof
- Age proof
- Educational qualification proof
- Income proof - Salaried: latest salary certificate (gross and net), Income Tax Return / Form 16 for last 2 years, bank statement of salary account for last 6/12 months; Agriculturist: record of land holding & cropping pattern or other proof of income; All other individuals: ITRs and audited balance sheets (where applicable) for last 2 years, bank statement for last 6/12 months
- Income proof of spouse / earning children / parents, where their income is considered for determining the loan amount
- Property documents as per PNB's property check-list (proof of title of the vendor, approved plan, agreement to sell with payment receipts, non-encumbrance certificate, etc.; the exact set varies by purpose)
- Statement of assets and liabilities with supporting documents
Fees & charges
Tax: principal up to ₹1.5L under 80C and interest up to ₹2L under 24(b) per year for a self-occupied home (subject to conditions). Confirm with a tax adviser.
FAQ
Most home loans are floating (EBLR/repo-linked). Floating-rate loans to individuals carry no foreclosure charge, so you can prepay freely — usually the better choice unless you specifically need rate certainty.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.