New India Cooperative Bank Limited Home Loan Interest Rate at

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About New India Cooperative Bank

New India Cooperative Bank Limited is a Co-operative bank in india. New India Cooperative Bank Limited was founded on 1968. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about New India Cooperative Bank Limited which includes New India Cooperative Bank Limited Official Website, New India Cooperative Bank Limited ATMs accross the India, New India Cooperative Bank Limited Branches accross the India, New India Cooperative Bank Limited Contact Numbers, New India Cooperative Bank Limited official EmailID, New India Cooperative Bank Limited Headquarter and New India Cooperative Bank Limited Headquarter Address. Find New India Cooperative Bank Limited Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.

Why New India Cooperative Bank Home Loan?

1. New India Cooperative Bank provides a range of Home Loan Schemes designed for different needs of customers
2. Interest Rate is very competitive and affordable
3. Minimal Documentation
4. It provides Flexible Repayment Options to the borrowers
5. Easy and fast approval & disbursal of home loans
6. Has dedicated team of well-experienced employees which also offer personalised service
7. 24/7 customer care service of New India Cooperative Bank offers timely assistance to the customers

New India Cooperative Bank Home Loan Purpose

• To purchase or construct a new or old house or flat
• To repair, renovate, extend, alter an existing house
• To purchase ready flat or house from housing societies or State Government Housing Board or private builder
• To buy consumer durables for a new house under Total Home Loan Scheme

New India Cooperative Bank Home Loan Eligibility

• The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
• The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
• The applicant must be salaried or self-employed with a regular income.
• The applicant must earn more than the minimum required income.

New India Cooperative Bank Home Loan Document Required

1. Duly filled and signed application form with photograph
2. Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
3. Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
4. Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
5. Form 16
6. Latest 6 months salary slips for salaried persons
7. Bank Statement of last 6 months
8. Income Tax Returns (ITR) of last 3 years
9. Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
10. Processing fee Cheque
11. Copies of the title documents of the property and the approved plan
12. For Construction/ Renovation case, cost estimate from the Architect

Tax Benefits of availing New India Cooperative Bank Home Loan

There are two types of tax benefits associated with home loan for Resident Indians:

Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).

Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.

In Case of Prepayment of New India Cooperative Bank Home Loan, will EMI change?

One can pre-pay New India Cooperative Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:

1. He can continue with the existing and reduce the loan tenure
2. He can reduce the EMI and keep the loan tenure the same

Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.

How to reduce your Home Loan EMI?

• Negotiate with your banker on lower interest rate
• Apply for longer tenure
• Give maximum amount as down payment
• Pre-pay loan amount
• Switch to another bank/ FI offering lower interest rate

Contact details of New India Cooperative Bank Limited, New India Cooperative Bank Limited SMS balance check number SMS banking, New India Cooperative Bank Limited mobile banking, New India Cooperative Bank Limited toll free number,New India Cooperative Bank Limited toll free number 24*7, New India Cooperative Bank Limited miss call number.

• CUSTOMER CARE NUMBERS - 022-66586658
• CONTACT NUMBERS - 022-66586658/66

New India Cooperative Bank Limited Contact Details

• BANK OFFICIAL WEBSITE - https://www.newindiabank.in
• CONTACT NUMBERS - 022-66586658/66
• EMAIL ID - [email protected]
• CUSTOMER CARE NO. - 022-66586658
• TOTAL BRANCHES - 30
• TOTAL ATMS - 32
• HEADQUARTER - Mumbai
• BANK ADDRESS - New India Bhavan, Plot No.1260, TPS IV, Anant V. Nagvekar Marg, Prabhadevi, Mumbai, Maharashtra Pincode-400025

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