Last year, when my brother planned to take a housing loan, I gave him the two popular bank options, Punjab National Bank or PNB and HDFC. To better understand which would be better, I researched PNB Housing Finance vs HDFC home loan. I found HDFC generally has the edge in lower interest rates. However, I have added the differences I came across below.
PNB vs HDFC Home Loan
PNB HFC offers rates starting around 7.95% for salaried borrowers, depending on loan size and credit score. In contrast, HDFC Bank rates begin at approximately 7.90%. A small difference of 0.3% can result in over Rs 1 lakh more interest on a Rs 50 lakh loan over 10 years.
PNB charges a lower fee, about 0.35% of the loan amount plus GST. However, HDFC charges up to 0.5% or Rs 3,000, which is the minimum plus GST. Thus, PNB offers savings upfront on costs.
PNB allows longer tenures up to 30 years, which helps reduce monthly EMI burdens. HDFC Bank caps tenure at 25 years.
PNB also supports a higher LTV (loan-to-value) of up to 85%, while HDFC offers 70% to 80% for residential purchases.
HDFC Bank scores on customer service, digital process, and offers flexible repayment plans such as Step‑Up (SURF) and FLIP.
Your final choice should consider your credit score, desired loan amount, and tenure, and whether you prefer service convenience or maximum cost savings. This is all about the HDFC vs PNB home loan.
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If you are trying to learn about which home loan is better HDFC vs PNB home loan, then I can help you. Before taking a home loan myself, I did extensive research on home loans and these banks were also a part of that. Here is what I know
PNB Housing Finance vs HDFC Home Loan: Which is Better?
Both these banks have multiple loans. I have added all the home loans available with HDFC and PNB in a table below
| Particulars | HDFC Home Loans | PNB Home Loans |
Interest Rate |
8.75% onwards |
9.40% onwards |
Processing Fees |
Up to 0.50% of the loan amount or Rs. 3000/- whichever is higher |
0.35% of the loan amount Minimum- Rs. 2,500/ Maximum- Rs. 15,000/ |
Retail Lending Rate |
16.05% |
14.00% |
Loan Tenure |
30 years |
30 years |
Eligibility |
Resident Indian between 21 to 65 years of age |
Resident Indian between 18 to 70 years of age |
Prepayment Charges |
Nil |
Nil |
These were the interest rates, eligibility factors, and other important fees and charges of pnb vs hdfc home loan. Below are the popular home loans available with both of these banks.
HDFC BankHDFC Home Loan
HDFC Plot Loans
Rural Housing Loans
House Renovation Loan
Home Extension Loan
Top Up Loans
HDFC Reach Loan
Pradhan Mantri Awas Yojana
Balance Transfer
Loan Against Property
Commercial Property Loans
Commercial Plot Loans
HDFC Home Loan for NRI/PIO
PNB Max Saver
PNB Pride Housing Loan for Government Employees
PNB Housing Loan for Public
PNB Gen-Next Housing Finance Scheme for Public
Housing Loan for Public - Pradhan Mantri Awas Yojana - Housing For All
And that’s all I know. I hope this information about HDFC vs PNB home loan would be of help to you.
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Which is Best HDFC vs PNB Home Loan?
Kaushik
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2024-06-03T12:34:20+00:00 2024-06-04T11:17:29+00:00Comment
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