A home loan EMI calculator is a useful online tool that helps borrowers calculate their monthly repayments on their home loans. The Punjab National Bank home loan EMI calculator is a simple and easy-to-use online tool that anyone with an internet connection can access.
Things we covered for you
+
This blog post will give you an overview of the PNB home loan EMI calculator. We’ll explain how it works and how it can help you purchase your home. We’ll also touch on the loan amortisation schedule and how it can help you pay your EMIs. Finally, we’ll explain why you should use the PNB home loan calculator and list some factors that can affect your home loan EMIs.
How EMI Calculation Helps in Purchasing a Home?
When you take out a home loan, your lender will require you to make regular repayments (usually monthly) to pay back the money you borrowed plus interest. These repayments are known as ‘Instalments’. An instalment plan is a way of repaying a loan in which you make fixed payments over time.
Read: How Choosing the Right Mortgage Can Help You Plan Your Future with Ease
Book Best Packers & Movers with Best Price, Free Cancellation, Dedicated Move Manager
This is third
This is third
This is fourth
This is fourth
This is fifth
This is fifth
This is six
This is six
This is seven
This is seven
This is eight
This is eight
Each instalment payment amount is calculated based on the amount of money you have borrowed, the length of the loan, and the interest rate. This calculation is known as an ‘EMI calculation’.
An emi calculation can help you budget for your home loan repayments and understand how much your loan will cost you. It can also help you to compare different home loans and choose the best option for your needs.
How Loan Amortisation Schedule Helps Paying EMI?
An amortisation schedule is an invaluable tool for anyone considering taking out a home loan. This schedule displays each instalment payment along with the amount of principal and interest paid with each payment and also shows the remaining balance of the loan.
The amortisation schedule table can assist in budgeting for home loan repayments and provide a clear understanding of the overall cost of the loan. Therefore, when looking into a home loan, it is important to utilise an amortisation schedule to guarantee that you can afford it.
An amortisation schedule is extremely useful for planning for your home loan payments and figuring out the portion of your payment used to pay the principal and the portion that goes towards the interest. An amortisation schedule should be used when contemplating a home loan to guarantee that you can afford the monthly payments.
Creating an amortisation schedule can be done manually or with an online calculator. For example, your schedule would look like this if you took out a loan for Rs. 10 lahks with a 7-year term and an interest rate of 8.90% per year.
| Year | Opening Balance | EMI*12 | Interest Paid Yearly | Principal Paid Yearly | Closing Balance |
| 1 | 10,00,000 | 1,92,456 | 84,674 | 1,07,788 | 8,92,212 |
| 2 | 8,92,212 | 1,92,456 | 74,679 | 1,17,781 | 7,74,431 |
| 3 | 7,74,431 | 1,92,456 | 63,758 | 1,28,701 | 6,45,730 |
| 4 | 6,45,730 | 1,92,456 | 51,826 | 1,40,636 | 5,05,094 |
| 5 | 5,05,094 | 1,92,456 | 38,785 | 1,53,676 | 3,51,418 |
| 6 | 3,51,418 | 1,92,456 | 24,534 | 1,67,925 | 183494 |
| 7 | 183494 | 1,92,456 | 8,966 | 1,83,494 | 0 |
Why You Should Use PNB Bank Home Loan Calculator?
A home loan calculator is a beneficial tool for anyone planning to take out a loan for their home. This helpful resource can be used to calculate monthly payments and gain an understanding of the full cost of the loan.
Enter the desired loan amount, the repayment period, and the interest rate into the calculator, which will estimate the monthly payments based on that data. Therefore, if you are looking into getting a home loan, using a home loan calculator is essential to ensure you get the most favourable deal possible.
Read: REPO Rate Linked to Home Loans
EMI Calculator
Loan Amount
₹
Rate of Interest (P.A)
%
Loan Tenure
Yr
Principal Amount
Total Amount
Factors Affecting PNB Home Loan EMI
When estimating your Punjab National Bank home loan EMI, a few things should be taken into account, such as the principal loan amount, tenure, interest rate and any processing fees or prepayment charges.
Read: GIC Housing Finance Home Loan EMI Calculator
- The Principal amount has the most impact on the EMI since the higher it is, the higher the instalment will be.
- Similarly, the longer the loan’s tenure, the lower the EMIs, but more interest is accrued.
- Finally, a higher interest rate implies a higher EMI.
Punjab National Bank offers an EMI calculator which can predict your monthly payments by factoring in the principal loan amount, the tenure and the interest rate. As a result, you can easily compare different loan offers and pick the most suitable one.
Benefits Of Using the PNB Home Loan Calculator
Using a home loan calculator has many benefits, but Punjab National Bank’s home loan calculator has some specific advantages.
- PNB’s home loan calculator is easy to use and can help you calculate your EMIs quickly and easily.
- It provides an amortisation schedule, so you can see how your payments will be applied to the principal and interest on your loan.
- PNB’s home loan calculator can also help you compare different loan options.
- Finally, PNB’s home loan calculator is a great way to keep track of your progress as you repay your loan.
PNB Home Loan Emi Calculator for Different Loan Amounts
PNB has established itself as a go-to option for those considering a home loan, with the lowest EMIs available on the market. In addition, their flexible repayment options provide more leeway when managing monthly expenses and controlling the interest paid.
Therefore, when looking for a loan with reduced EMIs and a flexible repayment structure, PNB is an excellent choice.
10 Lakh Home Loan EMI From PNB Bank
The table below illustrates the EMI calculations for a loan of 10 lakhs Rupees with a 9 per cent interest rate across various tenures.
| 10,00,000 | 10 YEARS | 20 YEARS | 30 YEARS |
| TOTAL INTEREST | 5,20,109 | 11,59,342 | 18,96,641 |
| EMI | 12,668 | 8,997 | 8,046 |
20 Lakh Home Loan EMI From PNB Bank
The table below illustrates the EMI calculations for a loan of 20 lakhs Rupees with a 9 per cent interest rate across various tenures.
| 20,00,000 | 10 YEARS | 20 YEARS | 30 YEARS |
| TOTAL INTEREST | 10,40,219 | 23,18,685 | 37,93,243 |
| EMI | 25,335 | 17,995 | 16,092 |
30 Lakh Home Loan EMI From PNB Bank
The table below illustrates the EMI calculations for a loan of 30 lakhs Rupees with a 9 per cent interest rate across various tenures.
| 30,00,000 | 10 YEARS | 20 YEARS | 30 YEARS |
| TOTAL INTEREST | 15,60,328 | 34,78,027 | 56,89,924 |
| EMI | 38,003 | 26,992 | 24,139 |
40 Lakh Home Loan EMI From PNB Bank
The table below illustrates the EMI calculations for a loan of 40 lakhs Rupees with a 9 per cent interest rate across various tenures.
| 40,00,000 | 10 YEARS | 20 YEARS | 30 YEARS |
| INTEREST | 20,80,437 | 46,37,369 | 75,86,566 |
| EMI | 50,670 | 35,989 | 32,185 |
EMI on 50 Lakh Home Loan from PNB Bank
The table below illustrates the EMI calculations for a loan of 50 lakhs Rupees with a 9 per cent interest rate across various tenures.
| 50,00,000 | 10 YEARS | 20 YEARS | 30 YEARS |
| INTEREST | 26,00,546 | 57,96,711 | 94,83,207 |
| EMI | 63,338 | 44,986 | 40,231 |
Comparison of Punjab National Bank Home Loan with Other Banks
PNB Bank Home Loan vs Union Bank Home Loan
The interest rate for PNB Home Loans starts at 8.55% and is increased by a premium of 15 basis points over the card rate. Additionally, Union Bank of India provides various home loan options with interest rates starting at 8.25% pa to accommodate a range of customers.
| Compare | PNB Bank | Union Bank |
| Interest Rate | 8.55% onwards | 8.60% – 9.50% |
| Loan Tenure | 30 Years | 30 Years for purchase and construction only. |
| Eligible | Indian residents between the ages of 18 and 70. | Indian citizens between the ages of 18 and 75. |
PNB Bank Home Loan vs HDFC Bank Home Loan
A home loan can be obtained from either PNB or HDFC Bank. However, there is a difference in interest rates depending on who is borrowing.
| Compare | PNB Bank | HDFC |
| Interest Rate | 8.55% onwards | 8.30% onwards |
| Loan Tenure | 30 Years | 30 Years |
| Eligibility | Indian residents between the ages of 18 and 70. | Indian residents between the ages of 18 and 65. |
PNB Bank Home Loan vs BOB Bank Home Loan
PNB and Bank of Baroda both offer loans for buying a home. However, they have different interest rates, depending on the borrower.
| Compare | PNB Bank | BOB Bank |
| Interest Rate | 8.55% onwards | 6.50% to 7.95% |
| Loan Tenure | 30 Years | 30 Years |
| Eligibility | Indian residents between the ages of 18 and 70. | Indians residents and NRIs. |
The PNB home loan EMI calculator is a useful online tool to help borrowers calculate their monthly repayments. The Punjab National Bank home loan EMI calculator is a simple and easy-to-use online tool.
It helps to budget for home loan repayments, compare different loans, and utilise an amortisation schedule to ensure affordability. In addition, the PNB home loan calculator can help calculate EMIs, view an amortisation schedule, compare loan options, and track repayment progress.
With NoBroker, you can compare home loan products from leading banks and NBFCs, and choose the one that best suits your needs. NoBroker also offers a home loan EMI calculator, which can help you calculate your monthly instalments easily.
EMI Calculator
Loan Amount
₹
Rate of Interest (P.A)
%
Loan Tenure
Yr
Principal Amount
Total Amount
FAQ’s
Q1: What is the interest rate on Punjab National Bank home loans?
A1: The interest rate on Punjab National Bank home loans depends on several factors, including the loan amount, tenure, and credit score. However, the starting rate is 8.55%.
Q2: What maximum loan amount can I get from Punjab National Bank?
A2: The maximum loan amount that you can get from Punjab National Bank depends on your income and repayment capacity.
Q3: What is the tenure of Punjab National Bank home loans?
A3: Punjab National Bank, home loan tenure is typically 10-15 years.
Q4: What are the eligibility criteria for Punjab National Bank home loans?
A4: To be eligible for a Punjab National Bank home loan, you must be an Indian resident aged 18-70 years with a regular source of income. You must also have a good credit history.
Q5: Can I use the Punjab National Bank home loan EMI calculator to check for numerous loan amounts?
A5: You may view the EMI due for different loan amounts with different interest rates and terms. Use our calculator to enter various loan amounts and mortgage interest rates.
Hello nobroker.in administrator, You always provide helpful diagrams and illustrations.