PNB Home Loan Your Support in Home Finance Punjab National Bank is a well known public sector bank in India that is providing home loans to the customers for their easy housing finance. PNB home loan interest rate is attractive and you can pay the loan installments up to maximum 30 years. The loan amount can be used for the house or property purchase, construction of house and renovation of the existing property. To know in detail about the PNB home loan read the given article. What is the PNB home loan interest rate charged by the bank? The bank charges an interest rate on your borrowed loan amount based on the marginal cost of fund-based lending rate (MCLR) or Repo linked lending rate (RLLR). You can choose a fixed or flexible PNB home loan interest rate on your loan amount. The interest rate depends on your loan eligibility and it can be higher if you are less eligible for the loan amount. If you meet the loan eligibility criteria and have a minimum home loan CIBIL score then you can negotiate for a lower interest rate. PNB home loan interest rate is starting from 7.95% and you can pay the borrowed amount and the applied rate of interest in equated monthly loan installments. Documents required for the PNB home loans You need to submit certain documents to the bank during the loan application procedure such as ID proof, income documents, and address proof. By submitting all the documents you are under the verification process. The bank checks the documents carefully and matches it with the loan eligibility criteria. And, if you meet the criteria then your loan application gets approved and you will receive a message or call on your registered mobile number from the bank regarding PNB home loan approval. So, submit the documents like Aadhar Card, PAN card, loan application form and salary slip or bank statement to your nearest PNB branch. Apply for the PNB home loan using the bank online services The customer can easily apply for the PNB home loan by visiting the bank official website. If you are an existing bank customer then apply for the loan by logging into your account. You just need to submit your details like name, email address, mobile number, PAN details, etc. in the online loan application form. And, if your loan application is fit for the PNB home loan then you will get a message on your registered number regarding the loan process. You can track the status of your loan application by using the PNB online banking services. Just enter your application number, date of birth and security code to track the loan status. For the PNB home loan, you also have to pay a processing fee to the bank that is 0.35% of your borrowed amount. The amount you have borrowed from the bank for your house funding expenses can be repaid
in maximum 30 years of tenure in EMIs using any of the suitable payment methods like ECS, PDCs or auto-debit.