The Cosmos Co Operative Bank Limited Home Loan Interest Rate at CIBIL Score above 800: 7.70% to 8.60%
CIBIL score above 750 to 800: 8.05% to 8.85%
CIBIL score above 700 to 750: 8.40% to 9.10%
CIBIL score below 700: 8.95% to 9.60%
| INTEREST RATE | CIBIL Score above 800: 7.70% to 8.60% CIBIL score above 750 to 800: 8.05% to 8.85% CIBIL score above 700 to 750: 8.40% to 9.10% CIBIL score below 700: 8.95% to 9.60% |
| LOAN TENURE | 20 Years |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | Nil |
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About The Cosmos Co Operative Bank
The Cosmos Co Operative Bank Limited is a Co-operative bank in india. The Cosmos Co Operative Bank Limited was founded on 1906. 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 The Cosmos Co Operative Bank Limited which includes The Cosmos Co Operative Bank Limited Official Website, The Cosmos Co Operative Bank Limited ATMs accross the India, The Cosmos Co Operative Bank Limited Branches accross the India, The Cosmos Co Operative Bank Limited Contact Numbers, The Cosmos Co Operative Bank Limited official EmailID, The Cosmos Co Operative Bank Limited Headquarter and The Cosmos Co Operative Bank Limited Headquarter Address. Find The Cosmos Co Operative Bank Limited Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why The Cosmos Co Operative Bank Home Loan?
- The Cosmos Co Operative 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 The Cosmos Co Operative Bank offers timely assistance to the customers
The Cosmos Co Operative Bank Home Loan Purpose
Home loans are available for purchasing new/resale, flat/house or for construction of bungalow/house or for taking over home loan from other institutionsThe Cosmos Co Operative 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.
The Cosmos Co Operative 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 The Cosmos Co Operative 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.
The Cosmos Co Operative Bank Home Loan Amount
Not exceeding Rs.70 lakhs90% of Agreement Value or Cost of Construction for loans upto Rs.25.00 lakhs
80% of Agreement Value or Cost of Construction for loans above Rs.25.00 lakhs
Margin
20% to 30%The Cosmos Co Operative Bank Home Loan Repayment
Repayment period for Home Loan will be 20 years. In case of takeover, unexpired period or 20 years whichever is lessSecurity
Equitable mortgage of house propertyIn Case of Prepayment of The Cosmos Co Operative Bank Home Loan, will EMI change?
One can pre-pay The Cosmos Co Operative 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 The Cosmos Co Operative Bank Limited, The Cosmos Co Operative Bank Limited SMS balance check number SMS banking, The Cosmos Co Operative Bank Limited mobile banking, The Cosmos Co Operative Bank Limited toll free number,The Cosmos Co Operative Bank Limited toll free number 24*7, The Cosmos Co Operative Bank Limited miss call number.
- CUSTOMER CARE NUMBERS - 1800 233 0234
- CONTACT NUMBERS - 020-67086708, 1800 233 0234
The Cosmos Co Operative Bank Limited Contact Details
- BANK OFFICIAL WEBSITE - https://www.cosmosbank.com
- CONTACT NUMBERS - 020-67086708, 1800 233 0234
- EMAIL ID - [email protected]
- CUSTOMER CARE NO. - 1800 233 0234
- TOTAL BRANCHES - 173
- TOTAL ATMS - 121
- HEADQUARTER - Mumbai
- BANK ADDRESS - Cosmos Tower, Plot No-6, S.No-132/B, ICS Colony, Ganeshkhind Road, Pune ? 411 007 Maharashtra, India.
The Cosmos Co Operative Bank Home Loan FAQs Home Loan Document Required
