PNB Home Loan Insurance: Coverage, Benefits, Premium Calculator & Interest Rates

PNB home loan insurance helps borrowers protect their home loans and make life easier for their families in the event of unexpected events. When you buy a house, you usually have to make a long-term commitment, especially if you get a loan to do it. The PNB home loan interest rate and EMI are important factors to consider when planning, but getting the right insurance for the loan is equally important. This is where home loan insurance comes in.

53 Partners Insurance Partners

13.2 Crore Registered Consumer

6.29 Crore Policies Sold

We are rated ++ rating

₹1 Crore loan cover starting from 361/month+

Compare and Save upto 72% on premiums

Lowest Price Guarantee ^˜

Male

Female

Name

Date of Birth

Mobile Number

Check Your Premium Now

Get Updates on WhatsApp

If the borrower can't repay the loan, it ensures the outstanding amount is covered. This helps the family keep the house without worrying about money.

What is PNB Home Loan Insurance?

PNB home loan insurance is a way to protect your money that is linked to your home loan. If the borrower dies while the loan is still in effect, the insurer will pay the lender the rest of the loan amount.

This means:

The family doesn't have to keep making EMI payments.

The property is still safe.

The loan doesn't put a strain on your finances.

Most of the time, these plans are offered through PNB Housing Finance Limited, which helps people get housing loans all over India.

Home Loan Amount

Loan Tenure

5 Years 30 Years

Interest Rate

5% 15%

Loan Tenure Completed

0 40 yrs

Get the coverage you need-quick and easy! Choosing the right Home loan insurance is now effortless. Simply enter your details, hit “Calculate,” and receive a personalized plan designed just for you.

Why is PNB Home Loan Insurance Important?

A PNB home loan is a long-term financial obligation that can last for many years. While planning your EMIs based on the Punjab National Bank home loan interest rate, it's important to think about what will happen if things don't go as planned. This is where home loan insurance really helps.

Keeps your family from having money problems
The home loan insurance pays off the loan if the borrower dies, so the family doesn't have to worry about making monthly payments.
Helps keep the house in your name
Not making payments on time can cause big problems. Insurance reduces the risk of losing the property due to unpaid debts.
Covers the full loan tenure
Most plans align with the loan term, so they protect you from the first EMI to the last.

EMI Calculator

Loan Amount

₹

₹10 K
₹1,00,000
₹5,00,000
₹10,00,000
₹50,00,000
₹1,00,00,000
₹2,00,00,000
₹4,00,00,000
₹6,00,00,000
₹8,00,00,000
₹10 Cr

Interest Rate

Loan Tenure

Yrs

1 Yr
2
3
4
6
7
8
9
11
12
13
14
16
17
18
19
21
22
23
24
26
27
28
30 Yrs

Total Interest

Principal Amount

Start Investing

PNB Home Loan Interest Rate and Insurance Planning

When applying for a Punjab National Bank home loan, borrowers often compare the PNB home loan interest rate, EMI amount, and loan tenure. These factors determine the overall cost of borrowing.

While the interest rate affects your monthly EMI and total repayment, PNB home loan insurance ensures that the outstanding loan is covered in case of unforeseen events.

Borrowers can use a home loan EMI calculator to estimate their EMIs and repayment schedule. In addition, evaluating insurance options helps create a more secure financial plan.

PNB Home Loan Insurance Premium Calculator

Before choosing a policy, borrowers often want to estimate insurance costs. A PNB home loan insurance premium calculator helps in understanding how much coverage will cost.

The premium is usually based on:

Loan amount
Loan tenure
Age of the borrower
Interest rate
Type of premium payment

Using a calculator helps borrowers compare options and choose a plan that fits their loan structure.

Term Plans

LIFE COVER

₹ 1 Crore

STARTS AT

₹ 13/day⁺

View Plan
LIFE COVER

₹ 50 Lakh

STARTS AT

₹ 8/day⁺

View Plan
LIFE COVER

₹ 75 Lakh

STARTS AT

₹ 12/day⁺

View Plan

PNB Housing Finance and Loan Protection

PNB Housing Finance plays a key role in offering home loan solutions along with financial protection options. As part of PNB Housing Finance Limited, the institution provides:

Home loans for purchase and construction
Balance transfer options
Loan protection solutions
Flexible repayment options

Many borrowers combine their PNB housing loan with insurance to ensure complete financial security.

PNB Home Loan Insurance vs Term Insurance

When planning financial protection, borrowers often compare home loan insurance with term insurance. A term insurance plan provides life cover for a fixed duration and pays a lump sum to the nominee. This amount can be used for multiple purposes, including:

Loan repayment
Household expenses
Children's education
Long-term financial goals

On the other hand, PNB home loan insurance is specifically designed to cover the outstanding housing loan.

Because of this difference:

Some borrowers prefer a high-coverage term insurance plan
Others choose both for complete financial protection

Who Should Consider PNB Home Loan Insurance?

This type of insurance may be suitable for:

First-time home buyers
Individuals with large loan amounts
Sole earning members of the family
Borrowers with long loan tenures

It is especially useful for those who want to ensure their family does not inherit loan liabilities.

Final Thoughts

A home loan is a big financial commitment, and hence it is always better to plan it well. The additional advantage of taking a PNB home loan insurance is that it ensures the repayment of the home loan in case of an unexpected event. The individual can use the PNB home loan calculator to know how the loan can be repaid. This will help him know about the insurance as well, before making a final decision. A proper planning of a home loan and taking the right insurance will always result in a stable financial status for a long period of time.

People also search for

What is Term Life Insurance

FAQs

Q1. Is it necessary to have PNB home loan insurance at the time of taking a home loan?

Ans: No, PNB home loan insurance is not compulsory, but it is always a good idea to protect your family from having to repay the loan in the event of an unforeseen event.
Q2. How does PNB decide what the interest rate on home loans will be?

Ans: The interest rate on a PNB home loan is based on factors such as the borrower's credit score, the loan amount, the loan term, and so on.
Q3: Is it okay to use a PNB home loan calculator while applying?

Ans: Yes, you should always use a PNB home loan calculator to better plan your loan.
Q4: What does PNB Housing Finance Limited do?

Ans: PNB Housing Finance Limited is a company that helps people buy homes by giving them loans.

Different types of Plans

Term Insurance

View Plans

Life Insurance

View Plans

List of Term Insurance Companies

View Plans

TROP

View Plans

Term Insurance For Senior Citizen

View Plans

Term Insurance For Spouse

View Plans

Term Insurance For Family

View Plans

Term Insurance For NRI

View Plans

List of Term Insurance Plan

View Plans

Life Insurance Corporation of India

View Plans

What is Term Insurance?

View Plans

Term Insurance Calculator

View Plans

1 Crore Term Insurance

View Plans

2 Crore Term Insurance

View Plans

Explore the popular searches and stay informed

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.