Punjab National Bank Home Loan Calculator

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 home loan is one of the best financial products offered by the lender among deposit schemes and other financial services at attractive interest rates. One can calculate the monthly EMI installments by using the PNB Home loan calculator. The lowest EMI on home loans starts from Rs. 662, one of the lowest EMI offered in the banking sector.

PNB Home Loan Calculator – Key Features

  • Punjab National Bank offers home loan to salaried and self-employed individuals. Also, women, senior citizen and NRI borrowers are privileged with special rates of interest.
  • Individuals who are 21 to 60 years old can apply for a loan at PNB
  • The borrower can mortgage a property that they are planning to purchase, renovate or construct for security
  • Loan to Value Ratio is 80%.
  • The loan tenure of PNB ranges from 5 to 30 years.
  • Interest rates range from 6.95% to 7.75%.
  • PNB home loan EMI per lakh starts is Rs. 662. The EMI can be calculated anytime using the PNB home loan calculator 2021.
  • The processing fees charges is 0.35% of the loan amount (amounting to a minimum of Rs. 2500 and a maximum of Rs. 15000)

PNB Home Loan EMI Formula

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 the 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, factors 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 the 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 the 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.

Punjab National Bank Home Loan Calculator – FAQs

Que. What is PNB Home Loan Calculator?

Ans. 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.

Que. What is the maximum tenure provided by PNB Home loan for EMI payments?
Ans. The maximum tenure goes up to 30 years for repayment of the PNB home loan.

Que. How to apply for a home loan at PNB?
Ans. A home loan at Punjab National Bank can be applied by going to the official website of PNB or by visiting the nearest branch to apply for a housing loan.

Ques. Who is eligible for a home loan at PNB?
Ans. Self-employed and salaried individuals can apply for a home loan at Punjab National Bank.

Que. Can I add family members as co-guarantors?
Ans. To add co-guarantors from your immediate family, one can apply for a joint PNB home loan.

Ques. What happens if the EMI payments have defaulted?
Ans. In the case someone misses on EMI payments, the bank will levy a penalty.