PNB Festive Offer 2026: Home Loan From 7.20%, Fee Waiver Worth Up to ₹19,293

Punjab National Bank launched its festive retail-loan campaign, “PNB Utsav Festivities 2026”, on 5 October 2026. It runs from 1 October to 31 December 2026. According to the bank’s press release, home loans get a “Full waiver of upfront/processing/Documentation fees” and a “5 bps concession”, car loans get a full waiver of upfront and processing fees, and eligible home-loan takeovers pay no takeover charges. PNB’s rate page lists home-loan rates “starting from 7.20% p.a.” during the campaign. This PNB festive offer is the first big public-sector bank festive package of the season.

What the PNB festive offer includes

The last row matters if you are considering a top-up. The rate concession and the fee waiver are separate, and only the rate concession applies there.

What the waiver is worth on a ₹50 lakh loan

PNB’s normal home-loan charges are a processing fee of “0.35% of the loan amount”, with a minimum of ₹2,500 and a maximum of ₹15,000, plus documentation charges of ₹1,350. On a ₹50 lakh loan, 0.35% is ₹17,500, so the ₹15,000 cap applies.

Because of the ₹15,000 cap, the waiver is worth the same on any loan above about ₹42.9 lakh. On a ₹30 lakh loan, the fee would be ₹10,500, so the saving is smaller in rupees but larger as a share of the loan.

The 5 bps concession, measured over the full tenure

PNB’s rate table shows the top slab (loan above ₹30 lakh, CIBIL 800 and above) at “RLLR+BSP-0.90% (presently 7.20% p.a.)”. The page doesn’t say whether the 7.20% already includes the 5 bps festive concession. If it does, the rate without the concession would be 7.25%. On a ₹50 lakh, 20-year loan:

• EMI at 7.25%: ₹39,519
• EMI at 7.20%: ₹39,367
• Difference: ₹151 a month, or ₹36,320 over 240 months

Now compare credit scores on the same loan and tenure. PNB’s slab for CIBIL 700–749 is “RLLR+BSP-0.30% (presently 7.80% p.a.)”. That EMI is ₹41,202, which is ₹1,834 a month or ₹4.40 lakh more over 20 years than the 7.20% slab. On these numbers, your credit score affects the cost far more than the festive concession does. All figures are from scripts/calc.py.

From the banker’s desk: a festive waiver helps most when you were already going to borrow from this bank. Before you sign, ask for the sanction letter’s rate written as “RLLR + BSP ± spread”, not just today’s number. The spread is what stays with you after the festival ends.

Who gains most from the festive package

Three kinds of borrower get the most from this package. First, a new home-loan borrower with a loan above about ₹42.9 lakh, where the waived fee hits the ₹15,000 cap. On a ₹50 lakh loan, the ₹19,293 saved is about 0.39% of the loan. Second, someone moving an existing home loan of ₹25 lakh or more from another lender, because takeover charges are waived and PNB bears NEC, legal and valuation charges up to ₹15,000 plus GST. Third, a car buyer, since upfront, processing and documentation charges are all waived on car loans. For an existing PNB borrower who wants a top-up, the benefit is narrower: a 10 bps rate concession, with the normal processing fee still charged.

The PNB festive offer is less useful if your credit score puts you in a lower slab. The fee waiver is a one-time saving, while the slab gap applies to every EMI for the life of the loan.

Checks before you apply

1. Get the slab in writing. The rate depends on loan size, loan-to-value ratio and CIBIL band. Check your score first using our free CIBIL check guide.
2. Find out which charges the waiver doesn’t cover. PNB’s page says the bank bears legal and valuation charges only for takeovers of ₹25 lakh and above and for loan against property, up to ₹15,000.
3. Compare the full cost at the same tenure. Our home-loan eligibility by salary page helps size the loan, and our prepayment rules explainer covers what you can be charged for closing a loan early.
4. Check the dates. The campaign ends on 31 December 2026. The offer documents don’t say whether eligibility is fixed at sanction or at disbursement. If your property’s paperwork could push disbursement into January, ask the branch to confirm in writing that the waiver applies to your sanction date.

If you also need a car or personal loan this season, see our comparisons of car loan interest rates and personal loans for Diwali.

The fee waiver is clear and easy to value. The rate concession is small next to the gap between credit-score slabs.

FAQ

How long does the PNB Utsav offer run?

From 1 October to 31 December 2026, according to PNB’s press release and service-charges page.

Is the processing fee waived on PNB top-up loans?

No. PNB’s charges page says there is “No relaxation” on processing fees for loan against property and top-up loans to existing home-loan borrowers. The press release offers a 10 bps rate concession instead.

What is PNB’s home-loan rate today?

The rate page lists 7.20% p.a. for loans above ₹30 lakh with CIBIL 800 and above, and higher rates for lower score bands. Your sanctioned rate depends on your profile.

Do I save on a home-loan takeover?

Takeover charges are waived for eligible cases. For takeovers of ₹25 lakh and above, the bank also bears NEC, legal and valuation charges up to ₹15,000 plus GST.

Takeaway: on a large loan, the PNB festive offer’s fee waiver is worth about ₹19,000, but moving up one credit-score band would save you far more.