EMI for 50 Lakh PNB Home Loan and Interest Calculation 2024
By Anupama Deshpande | April 26, 2024
Punjab National Bank (PNB) is the second largest Public Sector Bank in India which provides a number of banking and financial services to its customers. It was established in May 1894 and is based in New Delhi. Its customer base is over 180 million and it offers its services to them thorugh a wide network of over 12250 branches and over 13000 ATMs. One of the products offered by Punjab National Bank is PNB Home Loan.
Living in own house is the biggest dream of almost all the people in India. Home loan is a crucial requirement for buying a housing property for most of the India's population as it requires a huge amount of funds to buy any property.
Factors Impacting Home Loan Interest Rate
Home loan interest rate at PNB today starts from 8.40% p.a. onwards. Banks usually provides a range of home loan interest rate which is not the final rate. At which rate you will get the home loan depends upon many factors such as,
- Age of Applicant
- Income
- Loan Amount
- Tenure
- Co-Applicants Income, if any
- Credit Score
- Stability of Occupation
- Existing Debts, Assets, Liabilities
- Past Repayment History
- Savings History
EMI for 50 Lakh PNB Home Loan for Different Tenures
- Now we will check out Rs.50 lakh home loan EMI from Punjab National Bank (PNB) for various tenures at the interest rate of 8.40% p.a. which is the lowest rate offered by the bank.
| Loan Tenure | EMI Amount |
|---|---|
| 5 Years | Rs.102342 |
| 10 Years | Rs.61726 |
| 15 Years | Rs.48944 |
| 20 Years | Rs.43075 |
| 25 Years | Rs.39925 |
| 30 Years | Rs.38092 |
Above table shows that if you avail a home loan of Rs.50 lakhs from PNB for 30 years then you just need to pay an EMI of Rs.38092.
Further, if you 'Do something like this immediately after taking a home loan, then you will not have to spend a single penny to repay the home loan.'
Loan Tenure: PNB Home Loan
Loan Tenure available for PNB Home Loan is up to 30 years or upto the age of 70 years, whichever is earlier.
This is also to note that there will be a processing fee of 0.35% of loan amount (Min. Rs 2500 & Max. Rs 15,000) charged by the bank and applicable tax will also be charged.
You can use Home Loan EMI Calculator for calculating home loan EMI more specifically. With its help, you will be able to calculate your monthly EMI payments for different tenures at the interest rate offered to you by the PNB and then make informed decision about your housing loan.
Anupama is a Co-Founder of CodeForBanks.com. She is an MBA (Finance) and Chartered Financial Analyst (CFA). She also carries a Fellowship degree in Life Insurance Sector and is a Master of Computer Application (MCA). She is an expert in Finance Field with an experience of over 18 years on different managerial positions in finance industry including Stock Market, Depository and Mutual Fund Sectors. Apart from that she has remained for few years in the field of marketing as well. Her suggestions and advice for investments have been very useful to many people.Her vast interest & expertise in the field of finance have encouraged her to write the articles so that others can also get benefitted out of them. She never loses any opportunity to learn and be creative. She is a valuable asset for CodeForBanks.com & important resource to all those around her.