Latest Interest Rates on home loans by Corp Bank 2020
CORP HOME FLOATING RATE
6.70% – 7.10%
Pradhan Mantri Awas Yojana – CPMAY
6.70% – 7.10%
Corp Bank home loan emi calculator
You Can Calculate Home Loan EMI with this Calculator: Just Enter your Loan Amount, Interest Rates and Loan Period/Tenure.
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
Pre Payment Penalty: NIL
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.