Corporation Bank Home Loan | Interest Rates | Documents | EMI Calculator

Corporation Bank Home Loan: Lowest Interest Rates (2014) of 10.25% – 10.50% p.a, EMI on Corp Home Loans. Minimum Documents and Eligibility Required.

Latest Interest Rates on home loans by Corp Bank -2014

A] FLOATING RATE:

Loan Tenor
Up to Rs.2 Crore
Above Rs.2 Crore
For all Tenors
[Max. 30 Years]
(10.25%)
(10.50%)

Fixed Rate Scheme Starts from – 12.85% to 13.60%. Depends on loan amount.


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Eligibility Criteria for Corp Home Loan:

  • Regular & verifiable income is only considered
  • Salary, Pension, Business income, Agricultural income are eligible
  • In case of seasonal income, quarterly/half yearly/ yearly installments are also considered
  • HUF income is not considered.
  • In addition to spouse, maximum of one close relative as co applicant required for supplementing repayment capacity.
  • Where property is owned by applicant’s parents/spouse who do not have independent/ regular income, they should join as co applicant only, irrespective of their age.
  • If, applicant is unmarried/divorcee, co obligation of parent/s (irrespective of their age) or third party guarantee is required.
  • Residents /NRIs/ PIO holding Indian Passports conforming to normal borrower standards with independent & regular source of income.
  • Age of the borrower/s shall be between 18 years to 60 years subject to the condition that repayment period (including repayment holiday if any,) shall not go beyond the retirement age, in case of salaried class, and 70 years of age, in case of other than salaried class

Processing charges – As applicable from time to time.

Pre Payment Penalty: NIL

Repayment Period: 

  • Loan is repayable in maximum of 30 years including moratorium of max- 18 months.
  • Repayment period shall not exceed retirement age for salaried class and 70 years of age for other than salaried class.
  • EMI/Notional interest of existing and proposed loan together shall not exceed 50% to 70% of net income of the borrowers.
  • Source: Corporation Bank Website

     

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    Disclaimer: This information is sourced from Bank's Website to help customers to gain information on Banks product.