PNB Home Loan eligibility: Here are 4 factors you should consider


Home Loans help you buy your dream homes; all loan providers have terms and conditions for applicants for the loan sanction. Applicants should meet the eligibility criteria and submit the required documents for Home Loan sanction.

Most loan providers have similar requirements; there may be a few variations across Non-Banking Finance Corporations (NBFCs).

This post focuses on the eligibility criteria for a PNB Housing Home Loan.

Factors That Affect Your PNB Housing Home Loan Eligibility

When you apply for a PNB home loan, you have to meet the eligibility criteria laid down by them and submit the required documents.

The four main factors that impact Home Loan eligibility are:


Loan providers gave minimum and maximum age criteria for applying for a loan.

Applicants must be above 21 years of age when they apply for a Home Loan with PNB Housing; the maximum age at the time of Home Loan term completion should be 70. If you are 50 years old at the time of the loan application, you can’t get a loan for a term of more than 20 years.


Your income level is a crucial aspect that impacts your home loan eligibility. The lending institution needs to be sure that you will be able to repay the amount your borrow in a regular and disciplined manner.

The amount sanctioned will depend on income levels, monthly expenditure, and other debt obligations.

The minimum monthly salary required for a Home Loan applicant as per PNB Housing is INR 15,000 monthly.

Credit Health

loan providers want to sanction loans to creditworthy applicants with low or negligible default risk. Your credit score reflects your credit health.

Rating agencies calculate the credit rating based on credit behaviour in the past. They also consider the repayment history, credit utilization, and credit inquiries to calculate the score.

Credit agencies use all these factors to calculate your credit score. loan providers can assess the creditworthiness of an applicant based on the rating; they may reject the application of those with a low rating.

PNB Housing accepts a minimum credit rating of 611 for a Home Loan.

Work Experience Or Business Continuity

Loan providers not only want to be sure that you earn enough to repay the loan, but they also want to ensure stability in terms of the source of income.

Salaried individuals should have a work experience of at least three years, and self-employed individuals must show business continuity of 3 years for their loan application to be accepted.

Benefits Of Availing of A PNB Housing Home Loan

As a prospective Home Loan borrower, you have a wide choice of loan providers. However, availing a loan from PNB Housing offers certain benefits; we will explore some below.

Competitive Interest Rates

Loan interest rates impact the overall cost of your loan and monthly instalments. Even a minor difference in the interest could lower or increase your loan instalments significantly as Home Loans run in lakhs. PNB Housing offers Home Loans at competitive rate of 7.99%.

Wide Range Of Home Loan Products

Borrowers have different requirements when it comes to borrowing a home or property.

PNB Housing has a range of products that can serve your varied requirements, be it the purchase of a home or land or the construction or renovation of an existing property.

Choice Of A Long Tenure

You can avail of a loan for up to 30 years. A long tenure makes a loan more affordable as your EMI burden is lower.

You can choose a term based on your convenience and the ability to service a loan.

To Sum It Up

You can make your dream come true with a Home Loan. But before you apply for a loan, research well to compare loan providers and check their eligibility criteria to get the best deal per your needs. This will ensure you don’t waste time if your loan application gets rejected for not meeting the eligibility criteria.

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