Loans/Staff Home Loan Eligibility Calculator
Staff Home Loan Eligibility Calculator
Your maximum eligible Home Loan amount, using PNB's actual Net Take Home rule — including notional interest on your full sanctioned OD limit, even if you haven't drawn it.
Your details
Maximum eligible loan
₹1,37,70,000
Binding constraint: your repayment capacity (your cadre limit is higher than what your salary supports)
What this calculates
The maximum Home Loan you’re eligible for at PNB, based on whichever is more restrictive: your repayment capacity under the Net Take Home rule, or your cadre’s maximum loan limit. Critically, your OD’s notional interest counts against your capacity even if you never draw on it — this is a real PNB rule, not a conservative assumption this calculator adds on top.
Formula
Available EMI capacity = (NTH ceiling % × Gross Salary) − existing deductions − vehicle loan installment − notional OD interest. Since Phase 1 (the principal-repayment installment) has no interest component at all, the eligible principal is simply that capacity × the number of principal-repayment months. Capped at your cadre’s maximum limit, whichever is lower. Using Phase 1 rather than Phase 2 (the later, higher interest-phase installment) is per explicit direction, not this calculator’s own inference — see the FAQ below for why neither is actually stated in the circular.
Worked example
Gross salary ₹80,000 (30% NTH tier), ₹5,000 existing deductions, ₹3,000 vehicle loan installment, ₹5,00,000 sanctioned OD limit, Scale I–III: available EMI capacity = ₹45,292. Phase 1 alone supports a loan of ₹1,22,28,840 — well above the ₹1.2 crore cadre limit, so the cadre limit is the binding constraint here, not EMI capacity.
FAQs
Why does my unused OD limit count against me?
PNB’s eligibility rule assumes you could draw your full sanctioned OD limit at any time, so it reserves capacity for the interest on that full limit — not just what you’ve actually borrowed. This is stated directly in the OD/Home Loan application forms, not an assumption added here.
Is checking eligibility against the Phase 1 (principal) installment actually written in the circular?
No — worth being direct about that. The circular states the Net Take Home percentages and the 3:1 phased repayment structure as two separate facts; it never says which phase’s installment should be used to determine eligibility. This calculator uses Phase 1 (the earlier, lower installment) per explicit direction — not this calculator’s own inference. An earlier version used Phase 2 (the later, higher installment) on the reasoning that a bank wouldn’t want to approve a loan that becomes unaffordable in its later years, but that reasoning wasn’t confirmed against the circular either. Either way, this specific mechanism is genuinely not stated in the source document — confirm with your branch or HR before treating this figure as final.
What if I don't have a vehicle loan or OD?
Enter 0 for either — the calculator handles both being zero without any special case.
References
PNB’s current Staff Housing Loan scheme (limits and rates) and the bank’s uniform Net Take-Home rule applied consistently across all staff loan schemes.