Home Improvement Loan

Interest Rate

*Note: PNB Housing offers all home loans at Floating interest rates.
Rate Card HL Salaried
(Up to 50 Lacs)

(Starting from)

 		HL Non-Salaried
(Up to 50 Lacs)

(Starting from)
NTC Cibil ≤ 170 9.65% 9.95%
NTC Cibil > 170 9.55% 9.85%
Up to 650 9.75% 10.05%
> 650 to ≤ 700 9.75% 10.05%
> 700 to ≤ 725 9.10% 9.40%
> 725 to ≤ 750 8.75% 9.05%
> 750 to ≤ 775 8.60% 8.90%
> 775 to 799 8.50% 8.80%
≥ 800 to 825 8.40% 8.70%
≥ 825 7.75% 8.00%
Rate Card HL Salaried
(Up to 50 Lacs)

(Starting from)

 HL Non-Salaried
(Up to 50 Lacs)

(Starting from)
NTC Cibil <=170 9.55% 9.85%
NTC Cibil >170 9.45% 9.75%
Up to 650 9.65% 9.95%
> 650 to <= 700 9.65% 9.95%
> 700 to <= 725 9.00% 9.30%
> 725 to < =750 8.65% 8.95%
>750 to <=775 8.50% 8.80%
>775 to 799 8.40% 8.70%
>=800 to  825 8.30% 8.60%
>=825 7.60% 7.85%
Credit Score HL Salaried
(Above 1 Crore)

(Starting from)

 		HL Non-Salaried
(Above 1 Crore)

(Starting from)
NTC Cibil <=170 9.45% 9.75%
NTC Cibil >170 9.35% 9.65%
Upto 650 9.55% 9.85%
>650 to <=700 9.55% 9.85%
>700 to <=725 8.90% 9.20%
>725 to <=750 8.55% 8.85%
>750 to <=775 8.40% 8.70%
>775 to 799 8.30% 8.60%
>=800 to 825 8.20% 8.50%
>=825 7.50% 7.75%
Fixed Rate for Home Loan – 14.75%
*Rates of interest are subject to change at the sole discretion of PNB Housing.
**NTC: New to credit

Interest Rate related

Frequently Asked Questions

What are the typical home improvement loan interest rates?

PNB Housing offers home improvement loan interest rates based on your credit score and whether you are salaried or self-employed. Rates start from around 8.25% for strong credit scores and increase for lower scores. All loans are offered on floating rates, which means they can change over time.

Is a home renovation loan a good idea?

A renovation loan can be a good choice if you want to improve your home without using your savings. With clear home improvement loan interest rates and flexible repayment options, it allows you to spread the cost over time. It also helps increase the value and comfort of your home.

How can I find the best interest rates for home improvement loans?

To get the best interest rates for home improvement loans, keep a strong credit score and maintain steady income records. Check the rate slabs offered by PNB Housing for different credit scores. Floating rates apply, so comparing your score and loan amount helps you understand the rate you may receive.

Can I get low APR home improvement loans with a low credit score?

APR (Annual Percentage Rate) is the total yearly cost of a loan, including interest and applicable fees, expressed as a percentage. Low credit scores usually lead to higher rates and make it difficult to get low APR home improvement loans. PNB Housing offers different slabs for various scores. Improving your score, maintaining clean repayment history and choosing a suitable loan amount can help you qualify for better interest rates.

Do home improvement loan interest rates change based on renovation type?

Home improvement loan interest rates are mainly based on your credit score, loan amount, and employment type rather than the type of renovation. Since PNB Housing offers floating rates, the rate can change with market conditions. The purpose of renovation does not usually affect the interest slab you receive.