Shivafinz Logo

PNB Home Loan EMI Calculator



Total Interest Payable:


Total of Payments (Principal + Interest):


Punjab National Bank Home Loan Calculator

Punjab National Bank or PNB is regarded among the renowned financial institutions in India. It was founded in the year 1894 and is the second-largest public sector bank in the country in terms of network and commerce. PNB home loan is one of the best financial products offered by the lender among deposit schemes and other financial services at attractive interest rates. One can calculate the monthly EMI installments by using the PNB Home loan calculator. The lowest EMI on home loans starts from Rs. 662, one of the lowest EMI offered in the banking sector.

PNB Home Loan Calculator – Key Features

  • Punjab National Bank offers home loan to salaried and self-employed individuals. Also, women, senior citizen and NRI borrowers are privileged with special rates of interest.
  • Individuals who are 21 to 60 years old can apply for a loan at PNB
  • The borrower can mortgage a property that they are planning to purchase, renovate or construct for security
  • Loan to Value Ratio is 80%.
  • The loan tenure of PNB ranges from 5 to 30 years.
  • Interest rates range from 6.95% to 7.75%.
  • PNB home loan EMI per lakh starts is Rs. 662. The EMI can be calculated anytime using the PNB home loan calculator 2021.
  • The processing fees charges is 0.35% of the loan amount (amounting to a minimum of Rs. 2500 and a maximum of Rs. 15000)

PNB Home Loan EMI Formula

Typically, home loan EMI is determined using this formula –

EMI = [P x R x (1 + R) n] / [(1 + R) n-1]


P = Principal amount

R = Interest rate

N = Repayment Tenure (in months)

Suppose Kanish avails a home loan from PNB. The loan details are tabulated below –

Principal loan amountRs. 10 lakh
Rate of Interest9%
Repayment Tenure20 years

With the help of the formula discussed above –

EMI = [P x R x (1 + R)^n] / [(1 + R)^n-1]

= [100000 x 9 x (1 + 9)^240] / [(1 + 9)^(240-1)]

= Rs. 8997

In the case of the PNB housing loan EMI calculator, the mathematical formula is fed into the online calculator beforehand, which eliminates the need for a manual calculation.

Nonetheless, to use this financial tool users must input details pertaining to –

  • The loan amount
  • Current interest rate
  • Repayment tenure

What are the Factors that Influence Home Loan EMIs?

These are among the prominent factors that affect home loan EMIs –

  • Interest rates: The loan interest rate is among the essential factors that contribute to EMI determination. A higher rate of interest attracts a higher loan EMI, whereas a low rate facilitates easy repayment via reduced EMIs.
  • Tenure: The longer is the tenor, the less is the monthly instalment amount. Though it facilitates easy repayment, an extended tenure also means borrowers have to pay a higher interest amount on their loan value.
  • Loan amount: The principal loan amount is also a decisive factor here. Typically, a higher loan amount leads to a higher EMI amount. Also, if borrowers pick a longer tenure, it means the number of instalments undergoes an increase too.
  • Borrower repayment capability: Also, factors like borrowers – age, current financial standing, monthly income and creditworthiness influence home loan EMIs.

Benefits of PNB Home Loan Emi Calculator

Here is a list of benefits of using the PNB housing loan calculator –

  • It eliminates the need for manual calculations. In turn, it also minimizes the risk of erring while estimating the EMIs.
  • The financial tool provides quick results and helps save time and energy.
  • The PNB home loan calculator allows users to make multiple adjustments to the variables of the formula. It helps to choose a suitable tenor and loan amount combination.
  • Gaining a clear idea about the loan EMI in advance helps to plan and manage finances better.

Thorough financial planning, along with a robust repayment strategy, always comes in handy for managing home loans efficiently. Nonetheless, by using the PNB home loan calculator individuals can make an informed decision about the same.


What is PNB Home Loan Calculator?

A PNB home loan calculator is essentially a financial tool that helps users to compute their housing loan EMI readily. Typically, it helps users to find out the monthly instalment and interest on loan more accurately. It helps them to compare home loans better and further helps them to improve their financial management.

What is the maximum tenure provided by PNB Home loan for EMI payments?

The maximum tenure goes up to 30 years for repayment of the PNB home loan.

How to apply for a home loan at PNB?

A home loan at Punjab National Bank can be applied by going to the official website of PNB or by visiting the nearest branch to apply for a housing loan.

Who is eligible for a home loan at PNB?

Self-employed and salaried individuals can apply for a home loan at Punjab National Bank.

Can I add family members as co-guarantors?

To add co-guarantors from your immediate family, one can apply for a joint PNB home loan.

What happens if the EMI payments have defaulted?

In the case someone misses on EMI payments, the bank will levy a penalty.

How does a Home Loan SBI EMI Calculator work?

An SBI home loan monthly EMI calculator works on the following formula – EMI = [P x R x (1+R)^N]/[(1+R)^ (N-1)].

In the above formula –

  • P is your principal or the loan amount.
  • R is your rate of interest calculated per month.
  • N is your loan tenure in months.

For example, let’s consider you have availed a home loan of Rs. 60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months).

Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)].

EMI = Rs. 53,984

Amortization schedule

Your loan EMIs will remain the same throughout your loan tenor if you have availed the home loan on a fixed rate of interest. However, the principal and interest portion in each of them differs per month. This process of calculating EMIs is known as amortization.  

Following is the amortisation schedule of the above loan for the first 12 months –

MonthPrincipal (Rs)Interest (Rs)Principal + interest (Rs)Outstanding balance (Rs)

 According to the above table, the interest portion is higher in the initial months compared to the principal. As you repay, the principal increases while the interest decreases. 

How to use Groww SBI Home Loan EMI Calculator?

To use the SBI home loan EMI calculator, by simply entering the loan amount, interest rate and select the loan tenure from drop down. 

The EMI calculator will show the EMIs based on the entered numbers instantly. It will change as per modification.

Advantages of using Groww SBI Housing Loan EMI calculator

There are several advantages attached to using a Groww SBI housing loan EMI calculator, which other such calculators may not provide.

For instance –

  • Shows the results based on the fractional rate of interest.
  • It helps you save time by showing the results immediately.
  • It is More accurate compared to other EMI calculators.
  • It helps you to determine the loan amount and tenor.

Using an EMI calculator is one of the first steps you take to apply for a home loan and purchase/construct your dream abode. The next steps involve arranging all the necessary documents and making sure you fulfill all the eligibility criteria.

“Looking to invest? Open an account with Groww and start investing in direct Mutual Funds for free”


Who can avail SBI home loans?

SBI home loans are available for salaried and self-employed individuals and non-individuals. 

What is the LTV of SBI home loans?

LTV Property Value

90%Less than Rs. 30 Lakh
80%Rs. 30 Lakh to up to Rs. 75 Lakh
75%Above Rs. 75 Lak

What is the amount I can avail with a home loan?

SBI provides home loans ranging from Rs. 15 Lakh to up to Rs. 10 Crore.

What is the maximum tenure of an SBI home loan?

The maximum tenure of an SBI home loan is 30 years.

Can I avail income tax benefits on a home loan?

Yes. Home loans provide income tax benefits under the following sections –

SectionApplicability and amount 
80CUp to Rs. 1.5 Lakh on the home loan principal
24(b)Up to Rs. 2 Lakh on the home loan interest paid.
80EEAAdditional deduction of up to Rs. 1.5 Lakh on home loan interest paid. Only available to borrowers under the affordable housing scheme
Calculate EMI
Apply for loans