Corporation Bank NRI Home Loans | Eligibility | Rates | Information
Corporation Bank offers Home Premium Schemes which is specially made for NRI & PIOs. Check out Details on Interest Rates, Documents List, Eligibility, Repayment Period etc on Deal4loans.
Corporation bank offers home loans to NRI under 3 different scheme named as – Corp Home Premium NRI, Corp Ghar Sansar & Corp Ghar Shobha schemes.
Purpose:
- For purchase of ready built house/flat
- For construction of house in pre- owned land
- For purchase of land and construction of house thereon
- For takeover of housing loans from other Banks/Institutions
Home Loan applications received for rupees ₹ 419,027 crores till 25 April 2024
Corp Bank Interest rates on NRI Home Loan
Check Interest Rates for Union Bank Home Loan Here
Processing Fees for Corp NRI Home Loan
CORP HOME (Including Pradhan Mantri Awas Yojana) = 0.50% of loan amount. Max Rs.50,000/-
CORP GHAR SHOBHA = 0.50% of loan amount subject to a Min of Rs.1000/-
CORP GHAR SANSAR = 1% of limit sanctioned subject to maximum of Rs.10000/-
LOAN AMOUNT:
Minimum – Rs.25 lakh ; Maximum – Rs.500 lakh
Margin – 10% to 25% based on loan amount
Prepayment Charges – Nil
Repayment Period – Maximum 30 Years
Special Treatment
Loan proposals under this variant shall be given “Green Channel ” facility for sanction. [i.e. Proposals shall be taken up for sanction at every stage , on Top Priority basis ]
ELIGIBILITY Criteria for Corp NRI Home Loans:
Non-Resident Indians [NRIs] holding Indian passport or Persons of Indian Origin [PIOs] holding foreign passport, singly or jointly with close relative who can be either NRI or PIO or a Resident Indian, with independent & regular source of income and is residing abroad for a minimum period of one year.
Age of the borrower/s shall be between 18 years to 60 years; Repayment period shall not exceed retirement age in case of salaried class and 70 years of age in case of other than salaried class.
Gross income of NRI applicant and co applicant/s together shall be a minimum of Rs.10 lakhs.
Co –application of spouse is mandatory. Where spouse is also residing abroad, co application of any other close relative residing in India OR suitable third party guarantee of a person residing in India required. In addition to spouse maximum of one Resident-close relative as co applicant may be obtained 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
Applicant /Co applicant shall be confirmed in the service & shall have ONE year aggregate service in previous & present employment together.
