MCLR PNB Housing Finance Limited
Updated as on January 11, 2019
| Tenor | MCLR |
|---|---|
| One year | 14.35% |
The Effective PNB Housing Finance Limited Home Loan Interest Rates based on MCLR
| Plans | Women | Men |
|---|---|---|
| PNB Term Loan [ New Interest Rate effective January 11, 2019 ] | UP to 30 Lakhs | |
| Salaried, Floating | 9.1 % | 9.1 % |
| Self-Employed, Floating | 9.3 % | 9.3 % | 30 Lakhs to 75 Lakhs |
| Salaried, Floating | 9.1 % | 9.1 % |
| Self-Employed, Floating | 9.3 % | 9.3 % | 75 Lakhs and above |
| Salaried, Floating | 9.2 % | 9.2 % |
| Self-Employed, Floating | 9.5 % | 9.5 % |
| PNB 1/2/3 Year – Fixed Interest Rate [ New Interest Rate effective August 14, 2018 ] | 0 to 30 Lakhs | |
| Salaried, Fixed | 9 % | 9 % |
| Self-Employed, Fixed | 9.5 % | 9.5 % | 30 to 75 lakhs |
| Salaried, Fixed | 9 % | 9 % |
| Self-Employed, Fixed | 9.5 % | 9.5 % | 75 Lakhs and above |
| Salaried, Fixed | 9 % | 9 % |
| Self-Employed, Fixed | 9.5 % | 9.5 % |
| PNB 5 Year Fixed Interest Rate [ New Interest Rate effective August 14, 2018 ] | Up to 30 Lakhs | |
| Salaried, Fixed | 9.25 % | 9.25 % |
| Self-Employed, Fixed | 9.75 % | 9.75 % | 30 to 75 Lakhs |
| Salaried, Fixed | 9.25 % | 9.25 % |
| Self-Employed, Fixed | 9.75 % | 9.75 % | 75 Lakhs and above |
| Salaried, Fixed | 9.25 % | 9.25 % |
| Self-Employed, Fixed | 9.75 % | 9.75 % |
| PNB Unnati Home loan [ New Interest Rate effective October 25, 2018 ] | Up to rs.25 Lakhs | |
| Salaried, Floating | 10.75 % | 10.75 % |
| Self-Employed, Floating | 12 % | 12 % |
Source: pnbindia.in
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FAQ's
Marginal Cost of funds based Lending Rate (MCLR) is a system of calculating the interest rate on loans
given out by banks. MCLR has been introduced by Reserve Bank of India to make the interest rates on loans
in-sync with the market conditions. Previously, Interest Rate was calculated on Base Rate system.
Interest Rate = MCLR + Spread
We are still in the early stages of the MCLR system and we do not yet know if it is a good idea to switch to this system. The option of switching will only be available to people who have taken a loan before 31st March 2016 as they will continue on Base Rate. All loans taken after 1st April will be automatically given on MCLR.
If you need more information on this, you can read
Base Rate v/s MCLR: Should you switch your home loan to MCLR.