60 Lakh PNB Home Loan

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Are you ready to turn your dream of homeownership into reality? Punjab National Bank (PNB) offers a home loan scheme specifically designed to help you achieve that goal. This blog delves into the details of PNB's 60 lakh home loan, providing a comprehensive guide for potential borrowers.

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Table of Content

1. Highlights of PNBs 60 Lakh Home Loan

2. EMI Calculations for PNBs 60 Lakh Home Loan

3. Fees and Charges Associated with the Loan

4. Documents Required for PNBs 60 Lakh Home Loan Application

5. Eligibility Criteria for PNBs 60 Lakh Home Loan

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Highlights of PNB’s 60 Lakh Home Loan

Feature Description
Loan Amount Up to ₹ 60 lakh
Purposes Covered Purchase of a new home, resale property, construction of a house, or renovation of an existing property
Repayment Tenure Up to 30 years
Interest Rates Competitive rates ranging from 8.5%  to 11.45%

EMI Calculations for PNB’s 60 Lakh Home Loan

You can estimate your monthly payments using Urban Money online EMI calculators. Here’s a detailed breakdown of the yearly EMI, total interest, and total payment for a ₹60 lakh PNB home loan with tenures of 10 and 20 years:

Tenure (Years) Yearly EMI (INR) Total Interest (INR) Total Payment (INR)
10 ₹8,92,696.96 ₹29,26,969.60 ₹89,26,969.60
20 ₹6,24,832.73 ₹64,96,654.56 ₹1,24,96,654.56

Fees and Charges Associated with the Loan

  • Processing Fee: Typically 0.35% of the loan amount (minimum ₹2500, maximum ₹15000).
  • Other Charges: There might be additional fees for legal/valuation charges and documentation.

Documents Required for PNB’s 60 Lakh Home Loan Application

  • KYC documents (PAN card, ID proof, and address proof)
  • Income proofs (salary slips, bank statements, ITRs for self-employed)
  • Property documents (sale deed, allotment letter, etc.)

Eligibility Criteria for PNB’s 60 Lakh Home Loan

  • Age: Between 21 and 60 years
  • Minimum Income: Varies depending on your location and employment type
  • Credit Score: A good credit history is preferred

Frequently Asked Questions (FAQs)

What is the EMI for a 60 Lakh Home Loan for 20 years in PNB?

The exact EMI depends on the final interest rate offered based on your profile. You can use an online EMI calculator to get an estimate.

Who is eligible for a 60 Lakh Home Loan in PNB?

Salaried individuals, self-employed professionals, and even NRIs (Non-Resident Indians) can apply, subject to meeting the eligibility criteria.

What is the monthly interest rate of a 60 Lakh home loan in PNB?

PNB offers competitive interest rates starting at 8.5% going upto 11.45%.

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