Punjab National Bank or PNB is regarded among the renowned financial institutions in India. It was founded in the year 1894 and is the second-largest public sector bank in the country in terms of network and commerce.

PNB offers several financial products, deposit schemes and other financial services that cater to requirements of salaried and self-employed customers adequately. They also offer product-specific financial tools like PNB home loan calculator to help individuals make an informed financial decision.

PNB Home Loan Calculator

A PNB home loan calculator is essentially a financial tool that helps users to compute their housing loan EMI readily. Typically, it helps users to find out the monthly instalment and interest on loan more accurately. It helps them to compare home loans better and further helps them to improve their financial management.

How is PNB Home Loan EMI Calculated?

Typically, home loan EMI is determined using this formula –

EMI = [P x R x (1 + R) n] / [(1 + R) n-1]


P = Principal amount

R = Interest rate

N = Repayment Tenure (in months)

Suppose Kanish avails a home loan from PNB. The loan details are tabulated below –

Principal loan amount Rs. 10 lakh
Rate of Interest 9%
Repayment Tenure 20 years

With the help of the formula discussed above –

EMI = [P x R x (1 + R)^n] / [(1 + R)^n-1]

= [100000 x 9 x (1 + 9)^240] / [(1 + 9)^(240-1)]

= Rs. 8997

In the case of PNB housing loan EMI calculator, the mathematical formula is fed into the online calculator beforehand, which eliminates the need for a manual calculation.

Nonetheless, to use this financial tool users must input details pertaining to –

  • The loan amount
  • Current interest rate
  • Repayment tenure

What are the Factors that Influence Home Loan EMIs?

These are among the prominent factors that affect home loan EMIs –

  • Interest rates: The loan interest rate is among the essential factors that contribute to EMI determination. A higher rate of interest attracts a higher loan EMI, whereas a low rate facilitates easy repayment via reduced EMIs.
  • Tenure: The longer is the tenor, the less is the monthly instalment amount. Though it facilitates easy repayment, an extended tenure also means borrowers have to pay a higher interest amount on their loan value.
  • Loan amount: The principal loan amount is also a decisive factor here. Typically, a higher loan amount leads to a higher EMI amount. Also, if borrowers pick a longer tenure, it means the number of instalments undergoes an increase too.
  • Borrower repayment capability: Also, the factor’s like borrowers – age, current financial standing, monthly income and creditworthiness influence home loan EMIs.

Benefits of PNB Home Loan Emi Calculator

Here is a list of benefits of using PNB housing loan calculator –

  • It eliminates the need for manual calculations. In turn, it also minimizes the risk of erring while estimating the EMIs.
  • The financial tool provides quick results and helps save time and energy.
  • The PNB home loan calculator 2020 allows users to make multiple adjustments to the variables of formula. It helps to choose a suitable tenor and loan amount combination.
  • Gaining a clear idea about the loan EMI in advance helps to plan and manage finances better.

Thorough financial planning, along with a robust repayment strategy, always comes in handy for managing home loans efficiently. Nonetheless, by using the PNB home loan calculator individuals can make an informed decision about the same.