Home Loan is a Secured Loan offered by Syndicate Bank Home loan against the security of a house. The property could be a personal property or a commercial property. Let discuss in detail about Syndicate Bank Home Loan Interest Rates
Loan Criteria:
Contents
- Income
- Qualifications
- Age
- Spouse income
- No. of dependants
- Stability of occupation
- Assets/Liabilities
- Bank Account Savings history
Benefits of Syndicate Bank Home Loan Interest Rates:
- Home loan is available for construction, purchase, renovation of house
- Purchase of new house
- 80% of loan value for loan amount
- Salaried employees
- Convenient home loan interest rates
Syndicate Bank Home Loan Interest Rates Eligibility:
Self-employed who earn profits in their profession for a period of 5 years. Individuals who are not entitled with own a house. NRIs who do hold Indian passport with ability of home loan repayment. One should consider that applicant should be a 18 to 55 years age. Salaried employees should have service experience for atleast 5 years.
Documents for Salaried Employee:
- Employment certificate
- Copies of pay slips for last 3months
- TDS certificate
- Latest Form 16
- Bank statements
Documents for Self-employed:
- Statements for the last 2 years
- Partnership firm
- Account details for the last 3 years
- Income tax Returns
Security:
The bank allows the customer for third party security:
- Proof of income
- Original property document with sale agreement
- Permission for construction along with plan approval
- Estimation of construction cost
- Valuation report for already built purchase
- Other documents depending upon the individual’s portfolio.
Syndicate Bank Home Loan Interest Rates
One can avail home loan for an amount up to Rs. 25lac at Syndicate Bank Home Loans interest rate as 10.25%. The loan amount for Rs. 20lac to Rs. 75lac with 20% and for Rs. 75lac and above it is 25% of the loan amount. The interest rate for floating home loan is 10.25% for 1 to 30 years. The processing fee for loan amount is 0.25% as it does not change for fixed. To change the loan from fixed to floating 0.25% of the interest charges. The customer should pay 2% of pre-payment charges on the loan amount.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.
