55 Lakh PNB Home Loan

PNB Housing Finance can be your partner in achieving homeownership with their ₹55 lakh loan option. This substantial amount can help you finance a significant portion of your desired property. Their home loans cater to salaried individuals and self-employed applicants. PNB offers flexible repayment plans for up to 30 years, allowing you to choose a comfortable EMI option. Whether you're a first-time homebuyer or looking to upgrade, a ₹55 lakh PNB home loan could bridge the gap to your dream home. Explore the details and see if this aligns with your financial goals. 

55 Lakh Home Loan From Punjab National Bank – Highlights

55 Lakh Home Loan EMI For 5 Years From PNB Bank

The following table showcases the EMI for 55 Lakh home loan for 5 years at 8.5% p.a interest rate.

55 Lakh Home Loan EMI for 10 years From PNB Bank

55 Lakh Home Loan EMI For 15 Years From PNB Bank

The following table showcases the EMI for 55 Lakh home loan for 15 years at 8.5% p.a interest rate.

55 Lakh Home Loan EMI for 20 years From PNB Bank

55 Lakh Home Loan EMI For 25 Years From PNB Bank

The following table showcases the EMI for 55 Lakh home loan for 25 years at 8.5% p.a interest rate.

55 Lakh Home Loan EMI For 30 Years From PNB Bank

The following table showcases the EMI for 55 Lakh home loan for 30 years at 8.5% p.a interest rate.

Pro Tip : Get instant EMI estimates with PNB Home Loan EMI Calculator.

55 Lakh PNB Home Loan – Fees and Charges  

55 lakh PNB Home Loan – Documents Required

Applicant Documents:

• Duly filled Loan Application Form: Obtained from the bank.
• Photographs: Passport-sized recent photographs of all applicants.
• Identity Proof: Documents like PAN Card, Passport, Voter ID Card, and Aadhaar Card (mandatory for loans above ₹10 lakh).
• Residence Proof: Similar documents are needed for identity proof (rental agreement, if applicable).
• Age Proof: PAN Card, Passport, or other documents issued by a government authority.
• Educational Qualification Proof: Though not always mandatory, it may sometimes be requested.

Income Documents (Salaried Individuals):

• Salary Slips: The last 3 months’ salary slips with deductions mentioned.
• Form 16: Most recent Income Tax Return (ITR) acknowledgement and Form 16.
• Bank Statements: The bank statements for the last 6 months show salary credits.

Income Documents (Self-Employed Individuals):

• Proof of Business: Business registration documents, licenses, etc.
• Income Tax Returns: ITRs with audited financial statements for the past 3 years.
• Bank Statements: The bank statements for the last 6 months show business income.

Property Documents:

• Sale Deed or Agreement: Original documents for the property being purchased.
• No Objection Certificate (NOC): From housing society or relevant authorities.
• Property Tax Receipts: Up-to-date property tax receipts.
• Building Approvals and Completion Certificates: If applicable for new constructions.
• Encumbrance Certificate: Verifying the property is free from legal or financial claims.

Additional Documents:

• Processing Fee challan (if applicable).
• Co-applicant documents (if applicable) follow the same pattern.

55 lakh PNB Home Loan – Eligibility Criteria

• Minimum Age: 21 years at application, shouldn’t exceed 70 years at loan maturity
• Residency: Permanent resident of India
• Minimum Credit Score: 611 (higher score leads to better interest rates)
• Work Experience:
  • Salaried: Minimum 3 years
  • Self-employed: Minimum 3 years of business continuity
• Minimum Salary: ₹15,000 per month (though higher income may be needed for a ₹55 lakh loan)
• Loan Tenure: Up to 30 years
• Loan-to-Value (LTV): Up to 90% of the property’s market value (meaning you might need a down payment of 10%)