Syndicate Bank offers housing loans at lowest interest rates. Find details on EMI Calculator, Eligibility, Documents, Margin, Tenure, Calculate loan emi online & process of Syndicate bank.
Syndicate Bank Home Loan Details
|Interest Rates 2020||8.00% – 8.70%|
|Processing Fees||0.125% of loan amount or max Rs.5000|
|Pre payment Charges||Nil|
|Loan Amount||72 times of Gross Monthly income|
|Min. Income||Rs.12500/- p.m|
|Loan Repayment||1 to 30 years|
Home Loan applications received for rupees ₹ 419,027 crores till 25 September 2020
- For construction/acquisition of a house/flat or for acquiring a site and building a house thereon.
- For acquiring a new house or existing house not more than 20 years old.
- For making extensions/additions to existing house. For NRIs, loan available for acquisition of house for self-occupation on return to India.
- For acquisition of furniture/fixtures including air conditioners, geysers, fridge, cots, tables, sofas etc which form part of improvements to the home purchased or constructed out of the Housing Loan not exceeding of 10% total cost of the project, may be included.
- Take over of existing Housing loan from other banks/ financial institutions in the case of salaried class are permitted.
Eligibility Required for Housing loan under Syndicate Bank:
- Residents Indians, NRI, Pensioners
- Self Employed/Business class in a business from minimum period of 5 years.
- Individuals not owning a house/flat at the place of work / business / profession having sufficient and regular income.
- NRIs holding Indian passport, persons of Indian origin, residents outside India, with adequate repayment capacity.
- Applicant should be a major and not more than 55 years of age.
- For salaried class, applicant should have completed 5 years of service and the remaining period of service left shall not be less than 5 years.
- Loan to third house is not permitted.
How much maximum loan amount you can get from Syndicate Bank for Home Loan:
- For Salaried persons:
Maximum of 72 months gross salary (including salary of spouse)
- For Others:
Maximum of 6 times average annual income based on Income Tax Assessment Order/IT returns for the past 3 years.
Income/salary of spouse/father/mother/son/daughter with the applicant can also be considered.
For How much time or Repayment Years?
For acquiring a house: Equated monthly installments with maximum repayment period of 25 years or 70 years of age whichever is earlier (including repayment holiday if any)
- Proof of income.
- Original title deeds of the property with Encumbrance Certificate and agreement for sale.
- Permission for construction with approved plan issued by Competent Authority.
- Estimation of construction cost, valuation report in case of purchase of ready built house/flat.
- Any other documents depending upon the individual case.
Processing & Documentation Charges:
- Loans upto Rs.25.00 lakhs: -0.0125% of the loan amount with a minimum of Rs.500/- and maximum of Rs.2500/-
- Loans above Rs.25.00 lakhs to 75 lakhs: 0.125% of the loan amount with a maximum of 3250/-.
- Loans above Rs.75.00 lakhs: Rs.5000 (flat)
Prepayment Charges (Subject to modifications) :Waived.
✓ Loans up to 20 lakhs – 10%
✓ Loans above 20 lakhs and up to `75.00 lakhs – 20%
✓ Loans above 75 lakhs – 25%
Top Cities where Syndicate Bank offers best deals:
Ahmedabad, Aurangabad, Amritsar, Agra, Allahabad, Ahmednagar, Bangalore, Baroda, Bhiwadi, Bhopal, Bhubneshwar, Chandigarh, Chennai, Cochin, Coimbatore, Cuttack, Dehradun, Delhi, Faridabad, Gaziabad, Gurgaon, Guwahati, Hosur, Hyderabad, Indore, Jabalpur, Jaipur, Jamshedpur, Kanpur, Kochi, Kolkata, Lucknow, Ludhiana, Madurai, Mangalore, Mysore, Mumbai, Nagpur, Nashik, Navi Mumbai, Noida, Patna, Pune, Pimpri chinchwad, Ranchi, Raipur, Rewari, Sahibabad, Surat, Thane, Thiruvananthapuram, Trivandrum, Trichy, Vadodara, Vishakapatanam, Vizag