Syndicate Bank Home Loan

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Rates as low as 6.90%*
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Syndicate Bank Home Loan

Syndicate Bank Home Loan Key Features

Feature Value
Interest Rate 6.90% onwards
EMI / Lakh Rs. 662
Loan Tenure Up to 30 years
Loan Amount Percentage based on property value
Loan to Value Ratio Up to 90% of property value
Loan Available on the Following Types of Property
  • New flat
  • Ready to Move-in House
  •  Plot From MHADA, DDA, etc.
  • Home construction
  • Home extension
  • Home renovation
Special Offer for Women Interest rate concession of 0.05%
Processing Fee Up to 0.5% of loan amount excluding GST
Prepayment Charges No prepayment charges for floating rates
Part Payment Charges Nil
Guarantor Required Nil

Please Note: The above figures are only indicative and are subject to change without any prior notice.


Syndicate Bank Home Loan Interest Rate

Syndicate Bank Home Loan Schemes Interest Rate For Women Interest Rate for Others
Syndicate Bank Home Loan 6.90% – 7.95% 6.90% – 8.00%
Syndicate Bank Reach Loan 6.90% – 14.00% 6.90% – 14.00%
Plot Loan 6.90% – 8.05% 6.90% – 8.10%
Rural Housing Loan 6.90% – 8.70% 6.90% – 8.70%
Home Improvement Loan 6.90% – 7.95% 6.90% – 8.00%
Home Extension Loan 6.90% – 7.95% 6.90% – 8.00%
Home Loan Top Up As per home loan slabs As per home loan slabs
Home Loan Balance Transfer 6.90% onwards 6.90% onwards

Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.


Syndicate Bank Home Loan Interest rates and offers May 2021

Loan Amount Interest rates
 25 lakhs 6.95%
25- 50 lakhs 6.95%
50 lakhs – 1 crore 6.95%
above 1 crore 6.95%
  • As the syndicate bank is now a part of the Canara bank, the Canara bank home loan amount is applicable for syndicate bank too.

Syndicate Bank Home Loan Eligibility Criteria 

Salaried Individual:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
  3. Must have working experience and a legitimate source of salary i.e working under the same employer for at least one year.

Self Employed Individual:

Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the Syndicate Bank Home Loan. This includes everybody who is a:

  • Traders
  • Commission agent
  • Contractors

The following criteria must be met to apply for a home loan:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Self Employed Professionals:

Applicants who are professionally engaged in the working sector are also eligible for the Syndicate Bank Home Loan. This includes everybody who is a:

  • Doctors
  • Lawyers
  • Charted Accountant
  • Architect
  • Consultant
  • Engineer
  • Company Secretary

The following criteria must be met to apply for a home loan:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Additional Criteria for Co-applicants:

  • Co-applicant must be a family member of the primary applicant.
  • All co-applicants are not required to be the co-owners of the property.

For more information on home loan eligibility, click on the given link.

Syndicate Bank Home Loan Documents Required

Salaried Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Latest Salary Slips from the last 3 months.
  • Latest Form-16 and IT returns
  • Employment Contract/Appointment Letter if the current employment is less than a year old.

Property Related Documents:

  • A cheque for processing fee favouring ‘Syndicate Bank.’
  • Copy of the Buyer Agreement/Allotment Letter
  • Receipt/(s) of payment/(s) made to the developer

Self Employed Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Business Profile and Previous 3 years Income Tax returns (Both self and business)
  • Previous 3 years Profit/Loss Account and Balance Sheet.

Proof Of Business: 

  • Educational Qualifications Certificates
  • Business achievements (Certificate or awards if any)

Property Related Documents:

  • A cheque for processing fee favouring ‘Syndicate Bank.’
  • Copy of the Buyer Agreement or Allotment Letter 
  • Receipt/(s) of payment/(s) made to the developer

Agriculturists:

KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Copies of title documents of agricultural Land showing crops being cultivated

Property Related Documents:

  • A cheque for processing fee favouring ‘Syndicate Bank.’
  • Copy of the Allotment Letter / Buyer Agreement
  • Receipt/(s) of payment/(s) made to the developer

Additional requirements for Co-applicants:

Passport size photograph of all co-applicants to be affixed on the Application Form and signed across

For more information on home loan documents required, click on the given link.

Compare Syndicate Bank Home Loan with other banks

Before availing of home loans in a particular bank you should compare it with other top banks and then you should avail of Home loans.

Particulars

Syndicate Bank

SBI

HDFC

Interest rates

6.95-8.90%

6.70-7.05%

6.75-8.20%

    Processing   Fee

500-5000

10,000

3000

Tenure time

30 years

30 years

30 years

Max Loan amount

5 crores

7 crores

5 crores

Age

21-65

18-70

24-64

Common Documents required for Salaried and self-employed individuals:

The common documents required for salaried and self individuals are basic documents like proof of address, proof of identity. Property related documents and income proof are also required for salaried and self-employed individuals. These are some of the common documents required for salaried and self-employed individuals.

Different Home Loan Schemes By Syndicate Bank

Syndicate Bank Home Loan – For Resident Indians

This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.

Specific Information for Home Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 30 years

Syndicate Bank Home Loan for NRI/PIO – For NRIs and PIOs

This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:

  • Purchase a flat, row house, bungalow in India from private developers in approved projects.
  • Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
  • Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
  • Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.

Syndicate Bank Plot Loans – For Buying a New Plot

This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.

Specific Information for Plot Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 80% of the value of Property
Interest Rate 6.90% onwards (0.05% concession to women)
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

Syndicate Bank Top Up Loans – For Syndicate Bank Home Loan Borrowers

This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.

Specific Information for Top-Up Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate New Customer – 6.90% onwards

 

Existing Customer – As per Home Loan Slabs

Processing Fee  Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

Syndicate Bank Home Extension Loans – For Adding Space in Your Home

This type of loan is specifically for those individuals who want to extend or add space to their home property.

Specific Information for Home Extension Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 20 years

Syndicate Bank Home Loan Balance Transfer – For All Home Loan Borrowers

Syndicate Bank Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.

Specific Information for Home Loan Balance Transfer Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to Rs. 50 Lakhs
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 30 years

Syndicate Bank Home Loans under Pradhan Mantri Awas Yojana Subsidy 2021

This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).

Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme
Eligible Profiles Available to EWS/LIG, MIG-I, and MIG -II
Loan Amount No Cap
Interest Subsidy 3.00% onwards
Maximum Subsidy Up to Rs. 2.67 Lakhs
Loan Tenure 20 years

Syndicate Bank Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month

This type of loan is specifically for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.

Specific Information for Reach Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 80% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 2% of the loan amount + GST
Loan Tenure 30 years

Syndicate Bank Rural Housing Loans – For Indians Living in Rural Areas

This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas. This loan is also eligible for individuals who are salaried or self-employed!

Specific Information for Rural Housing Loan Scheme
Eligible Profiles Available to Salaried, Sef-employed Individuals and Agriculturists
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards (0.05% concession to women)
Processing Fee Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST

 

Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST

Loan Tenure 30 years

Syndicate Bank Home Improvement Loans – For Covering Home Renovation Costs

This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.

Specific Information for Home Improvement Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount New Customer – Up to 90% of the estimates from improvements.

 

Existing Customer – Up to 100% of the estimates from improvements.

Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

Syndicate Bank Home Loan Customer Care

If you have any doubts related to syndicate bank about home loans and about its processing fee and lot more. then you can contact their customer care. They are available 24/7. And they help customers in knowing about the home loans and how much amount a home loan can anyone avail of based on the eligibility criteria. You can also use Dialabank for availing of these Home Loans. You can call Dialabank customer care: Dialabank: 9878981166

Advantages of Syndicate Bank Home Loan

Syndicate Bank Home Loan is a saviour to those who are in need of financial support relating to homes and plots. It offers the following:

  • A huge variety of home loan schemes.
  • The most helpful Pradhan Mantri Awas Yojana is also available.
    Syndicate Bank Home Loan
  • Provide a 0.05% concession to women to encourage them for their own homeownership.
  • Provide several repayment methods to choose from and opt for the one best suited to you.
  • Full transparency as Syndicate Bank promises no hidden costs and fees.
  • Easy application with minimum documentation and paperwork.
  • Provides loan approval prior to the selection of the property. 

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Syndicate Bank Home Loan Charges and Fees

Particulars Charges
Processing Fees Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher
Prepayment charges No prepayment charges for floating rates
Check dishonour charges Up to Rs. 200
List of documents Up to Rs. 500
Photocopy Of documents Up to Rs. 500
PDC Swap Up to Rs. 200
Disbursement cheque cancellation charges post disbursement Up to Rs. 200
Increase/Decrease in the loan term Up to Rs. 500
Re-appraisal of loan post 6 months from sanction Up to Rs. 2,000

Please Note: The above figures are only indicative and are subject to change without any prior notice.


Syndicate Bank Home Loan Procedure

  • Visit  Dialabank for a Home Loan.
  • Go to the Syndicate Bank Home Loan page.
  • Check out all the eligibility and documents criteria for a Home Loan.
  • Fill out all the details required in the Home Loan application form.
  • Once done, our representative will soon contact you for a further stress-free process.

Syndicate Bank Home Loan EMI Calculator

Loan EMI Calculator 

Apply for Home Loan

Other Loan Products from Syndicate Bank

Syndicate Bank Personal Loan Syndicate Bank Gold loan Syndicate Bank Car Loan
Syndicate Bank Education Loan Syndicate Bank Two Wheeler Loan

Syndicate Bank Home Loan FAQ

How to repay my Syndicate Bank home loan?

There are different payment methods through which you can repay your Syndicate Bank home loan, this can be done:

  • By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
  • By opting for direct deduction of monthly instalments by your employer.
  • By issuing post-dated cheques from your salary account.

When can you apply for Syndicate Bank’s top-up loan?

A year after the disbursement of the existing loan amount and the possession or completion of the financed property.

In the case of prepayment is made, is there any change in home loan EMI?

Syndicate Bank accepts a prepayment at nil charges in case of floating rate home loans. When a prepayment is made, the outstanding balance of the principal amount on your home loan gets reduced. 

What is the maximum loan amount from the home loan can I get on my salary?

A customer can get the loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.

What is a Floating Interest Rate?

Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure. It may vary with the change in the lender’s benchmark rate.

How DialaBank can help you get a Home Loan?

Dialabank is a bridge to find the best option between several Banks and NBFCs by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through if you choose to search and applying by own.

✅ How the rate of interest will change if the interest rate is linked to PLR?

Home Loan Interest Rate is linked to PLR, and any change in PLR will lead to a change in rates of interest on the home loan. Interest rates on home loan account will rise or fall with the increase or decrease of PLR, proportionately.

Who is a Co-obligate or Guarantor?

Co-obligate or guarantor is an individual who undertakes to re-pay the bank loan in case the principal borrower fails. The amount of his liability will be the same as that of the principal borrower and the Bank can take strict actions against him for recovery along with the principal borrower. Guarantor can’t say that his liability will start only after the remedies against the principal borrower are exhausted.

Is there an option for pre-closure of a loan account?

A pre-closure option is also available and charges will be levied at rates as decided by the lender

Does missing an instalment effects CIBIL?

Non-payment of EMIs as per terms and conditions will adversely affect the credit rating of the borrower.

Are there any penalty Charges?

Penalty charges of 2% will be levied on the instalment amount unpaid.

How is the calculation of interest rates is done?

Interest rates are charged on a daily balance method and are debited once a month in your loan account. A 2% penalty on the unpaid Installment amount will be charged.

How much can anyone get if the salary is around 70000?

If the salary is around 70,000 then you may get a home loan amount of 52 lakhs.

Syndicate Bank Home Loan News Snippets

Syndicate Bank had launched SyndNivas by launching housing loan

Syndicate bank has launched housing loans. This syndicate bank is based in Bangalore based and these banks are offering various NBFCs. And in these banks, there are competitive interest rates. And syndicate banks offer various campaigns. It has offered 4062 campaigns and these are in operation. There is a campaign known as the switch and save. This switch and save campaign offer low-interest rates of 8.65 per cent. And these interest rates may vary based on the home loans. 

Banks double home loan interest rates

The interest rates for these home loans are of varying these days. Sometimes it may increase and sometimes it may decrease. The home loan interest rates range between 7-9 per cent. But it may vary based on the home loan interest rates. So banks are increasing these interest rates these days.

Banks line up offers for home loans

Banks are offering discounts on home loans. Banks are making less interest rates on home loans for people. The bank had around 9.1% home loans till last year. Nowadays also banks are offering high home loans. These banks offer a 35% share of home loans in SBI. Private sector banks like Axis bank have offered 73% year on year on these home loans. So in this way banks line up offers for home loans.

Cheap home loans above 75 lakhs 

Home loans above 75 lakhs have low interest rates. These home loans have at least 15 banks offering 7 %. The Reserve Bank of India has around 4% repo rates. There are more than 15 lakhs for home loans. These home loans have low-interest rates and it is up to 75%-80%. These interest rates are based on repo rates only.

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