PNB Housing Home Loan EMI Calculator

Taking a home loan is a crucial decision. Several factors need to be considered before you avail of this facility from a bank or NBFC near you. The rate of interest and EMI payable on the loan amount are two key considerations. PNB Housing Finance is a renowned name in the NBFC market, offering home loans at an interest rate of 12.70% p.a. Customers can avail of the home loan facility and easily compute the total EMI they would need to pay by using the PNB home loan calculator.

It is an online tool that enables quick and accurate calculation of EMI on a particular loan amount and home loan tenure. Additionally, you can use the PNB EMI calculator as many times as you wish for any loan amount, interest rate, and tenure of the loan. Here, we talk about the exact method of using the PNB housing loan calculator, the formula for calculation, its key benefits, and eligibility criteria.

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1 Lac10 cr

Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

How to Calculate PNB Housing Loan EMI?

As mentioned earlier, the simplest way to calculate home loan EMI or Equated Monthly installment of PNB Housing is to use the PNB EMI calculator. It is easily accessible and a simple-to-use tool that enables home loan borrowers to budget their monthly expenditures efficiently. The calculator can be used to get accurate results within minutes. 

PNB Housing Finance EMI Calculator Formula

The EMI calculator tool works on a simple formula that determines the amount of EMI you need to keep aside every month to pay PNB Housing if you wish to avail of a home loan with the NBFC. Given below is the simple PNB Housing Finance calculation formula to compute the EMI:

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


P stands for Principal Amount
R stands for Rate of Interest, and 
N stands for the Number of monthly installments

The online PNB Housing Finance calculator uses the above formula to calculate the EMI on various amounts of loan and loan tenure.

Factors Affecting PNB Housing Home Loan EMI

It also needs to be understood that some factors can directly impact your home loan EMI. Listed below are some of the common PNB home loan criteria that can affect the EMI payable:

Home Loan Tenure: This is one of the key factors that can influence the computation of the EMI amount on the home loan borrowed. Home loan tenure refers to the total amount of time for which a borrower has taken the home loan. Longer tenures generally attract lower EMIs; however, home loans taken for shorter durations impose higher EMIs on the borrower. 

Rate of Interest: This is yet another factor that impacts the EMI payable. A higher interest rate on the home loan generally results in a higher EMI amount payable.

Principal Amount: This refers to the loan amount availed from the bank/NBFC. If the principal loan amount is high, the resulting EMI payable on that amount will automatically be higher. 

Benefits of Using the PNB Housing Finance Calculator

Let us now look at some key benefits of the PNB Housing Finance calculator tool to customers:

Utmost accuracy: The most important benefit of using an online home loan EMI calculator is that it assures 100% accuracy. This considerably reduces the risk of human error in manual calculations.

Faster results: The EMI results on the online calculator tool are quick and instant, delivered immediately upon entering the required data. Once you have keyed in the details of the principal loan amount, rate of interest, and loan tenure, you can expect instant results on the EMI amount payable, right there on your screen.

Efficient monthly budgeting: With quick and accurate results at the tip of your fingers, you can easily plan out the budget for the entire month. Using an EMI calculator enables you to plan your month financially much more effectively and keep aside the exact EMI amount payable. 

PNB Housing Loan Interest Calculator Formula

Along with the EMI calculator tool available online, there is also an additional facility - the Punjab National Bank Home Loan Interest Rate calculator. The formula for this calculator enables you to compute the interest rate on the home loan amount. Based on your calculation, you may choose to proceed with the given bank/NBFC to avail of the home loan facility after comparing the interest rates of other banks and NBFCs. 

Given below is the formula for the PNB Housing Finance home loan interest rate calculator:

Total Interest = (P X R X T) / 100

In this case,

P refers to the Principal Amount
R to Rate of Interest
T to Tenure for EMI

PNB Housing Finance Eligibility Criteria

PNB Housing also provides potential borrowers the option to check their eligibility to avail of a home loan with the NBFC. The PNB home loan eligibility calculator is designed to allow prospective home loan borrowers to determine whether or not they qualify to apply for a home loan with the company. 

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Comparison of PNB Housing Finance EMI with other Popular Banks

While availing of a home loan with any bank, it helps to do your research first and do a thorough background check of the rates of interest that all banks offer on the home loan amount you wish to borrow. The table below highlights the interest rates of PNB Housing Finance with at least 5 other top banks and NBFCs partnered with BASIC Home Loan and the subsequent EMI payable, to help you make an informed decision. The data has been computed for a loan tenure of 10 years using the EMI calculator on EMI

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
PNB Housing Finance 12.70% p.a. onwards Rs. 14,755 Rs. 29,509 Rs. 44,264 Rs. 59,019 Rs. 73,773
ICICI Bank 8.75% p.a. onwards Rs. 12,533 Rs. 25,065 Rs. 37,598 Rs. 50,131 Rs. 62,663
HDFC Bank 8.55% p.a. onwards Rs. 12,425 Rs. 24,851 Rs. 37,276 Rs. 49,701 Rs. 62,127
Axis Bank 8.75% p.a. onwards Rs. 12,533 Rs. 25,065 Rs. 37,598 Rs. 50,131 Rs. 62,663
Tata Housing 8.70% p.a. onwards Rs. 12,506 Rs. 25,012 Rs. 37,517 Rs. 50,023 Rs. 62,529
Bajaj Housing 8.50% p.a. onwards Rs. 12,399 Rs. 24,797 Rs. 37,196 Rs. 49,594 Rs. 61,993
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PNB Housing Finance Amortization Schedule

PNB Housing Finance Amortization Schedule refers to a table that represents the periodic home loan payment. It enables the home loan applicants to understand how the loan amount would be repaid during the entire loan tenure. 

Steps to Calculate PNB Housing Finance Home Loan Amortized Interest

Step 1: Divide the interest rate on the home loan amount by the number of EMIs expected to be paid in a fiscal year. Here's a small example for illustration. If the interest rate on the home loan is levied at 12.70% p.a. and you choose to pay the EMI every month, divide 12.70% by 12. The number derived is .0106.

Step 2: Now multiply the number by your outstanding loan amount to derive the monthly rate of interest to be paid. For example, if your balance loan amount is Rs. 40,00,000, the interest in your first month would be 40,00,000 x .0106 = Rs. 42,400.

Step 3: Now subtract the interest per month that you derived from your fixed EMI to compute the principal to be paid in the first month. For example, if your fixed monthly EMI is Rs. 49,823, the amount payable is Rs. 49,823 - Rs. 42,400 = Rs. 7,423. This is your principal amount and will be deducted from your outstanding home loan amount to derive the balance for the next (second) month.

Step 4: Repeat the steps to calculate the principal amount, outstanding loan balance, and interest for each month thereafter in the same way.

The table below highlights the PNB Housing Finance Amortization Schedule 2024 for your easy reference:
Year/Month Principal Amount Interest Loan EMI
2024 95296.56 502579.44 4000000.00 597,876
1st Month 7489.67 42333.33 4000000.00 49,823
2nd Month 7568.93 42254.07 3992510.33 49,823
3rd Month 7649.04 42173.96 3984941.40 49,823
4th Month 7729.99 42093.01 3977292.36 49,823
5th Month 7811.80 42011.20 3969562.38 49,823
6th Month 7894.47 41928.53 3961750.58 49,823
7th Month 7978.02 41844.98 3953856.10 49,823
8th Month 8062.46 41760.54 3945878.08 49,823
9th Month 8147.78 41675.22 3937815.62 49,823
10th Month 8234.02 41588.98 3929667.84 49,823
11th Month 8321.16 41501.84 3921433.82 49,823
12th Month 8409.22 41413.78 3913112.67 49,823
Disclaimer: The data in the table is estimated EMI for a loan amount of Rs. 40,00,000 availed at an interest rate of 12.70% p.a. for a loan tenure of 15 years. The EMI may vary based on the amount, interest rate, and loan tenure entered into the amortization schedule.


PNB home loan calculator is an online tool that enables applicants to calculate the exact amount of EMI payable on their home loan amount availed with PNB.

PNB Home Loan allows its housing finance applicants a maximum loan tenure of 30 years.

In case of default on EMI payments, your bank/NBFC may charge you with late fees or levy a higher rate of interest on the loan amount. It may also impact your CIBIL score. Continuous defaulting on your part in making EMI payments may invoke legal action or even blacklisting.

Yes, absolutely! You can easily compare the EMI payable on different loan amounts using EMI.

PNB offers home loan interest rates starting at 8.50% p.a. on its home loan EMI calculator.

To derive the EMI payable using the PNB EMI calculator, you need to input details on the online tool, including the interest rate, home loan amount, and loan tenure. 

Yes, you may apply for a PNB home loan online after using the EMI calculator.

It is possible to pay higher than the EMI amount payable on your home loan into the PNB home loan account. This is generally done to lower the financial burden of interest on the borrowers.