Saraswat Cooperative Bank Limited Home Loan Interest Rate at Upto Rs. 100 lakh : 8.90% to 9.40%
Above Rs. 100 lakh to Rs. 140 lakh : 8.95% to 9.40%
| INTEREST RATE | Upto Rs. 100 lakh : 8.90% to 9.40% Above Rs. 100 lakh to Rs. 140 lakh : 8.95% to 9.40% |
| LOAN TENURE | 20 Years |
| PROCESSING FEE | Upto Rs. 25 lakh : Rs 5,000 Above Rs.25 lakh & upto Rs. 50 lakh : Rs. 15,000 Above Rs. 50 Lakh : Rs. 25,000 |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | Nil |
Calculate Saraswat Cooperative Bank Home Loan EMI Calculate EMI Now
About Saraswat Cooperative Bank
Saraswat Cooperative Bank Limited is a Co-operative bank in india. Saraswat Cooperative Bank Limited was founded on 14-09-1918. 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 Saraswat Cooperative Bank Limited which includes Saraswat Cooperative Bank Limited Official Website, Saraswat Cooperative Bank Limited ATMs accross the India, Saraswat Cooperative Bank Limited Branches accross the India, Saraswat Cooperative Bank Limited Contact Numbers, Saraswat Cooperative Bank Limited official EmailID, Saraswat Cooperative Bank Limited Headquarter and Saraswat Cooperative Bank Limited Headquarter Address. Find Saraswat Cooperative Bank Limited Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Saraswat Cooperative Bank Home Loan?
- Saraswat Cooperative Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Saraswat Cooperative Bank offers timely assistance to the customers
Saraswat Cooperative Bank Home Loan Purpose
Construction of own house/ Purchase of ready built house/ flat/ resale flat / takeover of housing loans from other Banks/ InstitutionsSaraswat 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.
Saraswat Cooperative Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Saraswat 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.
Saraswat Cooperative Bank Home Loan Amount
Maximum Rs. 70.00 lakh per beneficiary per dwelling Unit.(1) 80% to 85% of Agreement Cost of flat +Stamp Duty +Registration
OR
Cost of land + construction thereon+ Stamp Duty+ registeration
OR
(2) Salaried : Maximum 60 times of the net take-home salary.
Businessman/Professional/Self-employed : Maximum 5 times of Avg Net cash accruals
1 or 2 stated above whichever is lower
Margin
15% to 20% of Agreement Cost of flat +Stamp Duty +RegistrationSaraswat Cooperative Bank Home Loan Repayment
Maximum 20 years for salaried class/ Professionals.Security
Equitable/ legal Mortgage of house property to be purchased.Shareholding : 2.50% of loan amount, Maximum Rs. 25,000
In Case of Prepayment of Saraswat Cooperative Bank Home Loan, will EMI change?
One can pre-pay Saraswat 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:
- He can continue with the existing and reduce the loan tenure
- 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 Saraswat Cooperative Bank Limited, Saraswat Cooperative Bank Limited SMS balance check number SMS banking, Saraswat Cooperative Bank Limited mobile banking, Saraswat Cooperative Bank Limited toll free number,Saraswat Cooperative Bank Limited toll free number 24*7, Saraswat Cooperative Bank Limited miss call number.
- MISSED CALL NUMBERS - 9223040000
- CUSTOMER CARE NUMBERS - 1800229999, 18002665555
- CONTACT NUMBERS - 022-66005555, 41572070, 1800229999, 18002665555
Saraswat Cooperative Bank Limited Contact Details
- BANK OFFICIAL WEBSITE - https://www.saraswatbank.com
- CONTACT NUMBERS - 022-66005555, 41572070, 1800229999, 18002665555
- EMAIL ID - [email protected]
- MISSED CALL NO. - 9223040000
- CUSTOMER CARE NO. - 1800229999, 18002665555
- TOTAL BRANCHES - 464
- TOTAL ATMS - 255
- HEADQUARTER - Mumbai
- BANK ADDRESS - Ekanath Thakur Bhavan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Saraswat Cooperative Bank Home Loan FAQs Home Loan Document Required
