A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Abhyudaya Co-operative Bank Home Loan

    Abhyudaya Bank Home Loans Schemes

    1. Housing Loan
      • Interest Rate between 8.60% p.a. to 8.80% p.a.
      • Can be used for purchase of new/resale flat, construction of a house, extension of an existing house, and refinancing of home loan.
      • Maximum loan amount of Rs.70 lakh with financing up to 90% of the agreement value.
      • Maximum tenure of 20 years.
    2. Loans for Repairs/Renovations of Flat/House, Shops & Galas
      • Interest Rate between 11% p.a. to 12% p.a.
      • Can be used for renovation of flats/houses.
      • Maximum loan amount of Rs.10 lakh.
      • Maximum repayment of 120 EMIs (equated monthly instalments).

    Abhyudaya Bank Home Loan EMI Calculator

    It is important to have an idea of what your EMIs would look like when you apply for this home loan. It will help you better manage your finances and repayments on your loan. In order to know what your EMIs could be, all you need to do is enter a few loan-related details on the BankBazaar Abhyudaya Bank Home Loan EMI Calculator.

    Enter your loan amount, tenure, rate of interest, and the processing fees. Click on the ‘Calculate’ button you see on the screen and your EMI will be displayed. You will also get a detailed amortisation table which will tell you how your EMIs are split between the principal and interest components of your loan. This breakup is available for the monthly and yearly basis.

    Abhyudaya Bank Home Loan Eligibility Criteria

    Salaried individuals with a regular income source, self-employed individuals, businessmen, and professionals are eligible to apply for home loans from the bank.

    Abhyudaya Bank Home Loan Documents Required

    • ID proof documents.
    • Address proof documents.
    • Income proof documents.
    • Property documents – the applicant must be the owner of the property.

    FAQs

    1. Is there a moratorium period offered on the housing loan?

      Yes. There is a one-month moratorium period offered on the housing loan. However, this period will be inclusive of the maximum tenure of 20 years.

    2. Is the same moratorium period applicable on flats under construction?

      No. You could get a moratorium period of up to 18 months from the Sanctioning Authority if your flat is under construction. But, your tenure including this holiday period cannot exceed 20 years.

    3. Do I need a co-applicant to apply for a Housing Loan from Abhyudaya Bank?

      Yes. A co-applicant is a must to apply for a loan from this co-operative bank. However, if you have a joint agreement, then the owners will be the borrowers of this loan. Hence, in this case, a co-applicant will not be required.

    4. Who can be my co-applicant when applying for a housing loan?

      Your co-applicant can be your spouse, children, or parents. Your sibling may also be a co-applicant; however, their income will not be taken into consideration while determining your loan amount.

    5. Do I need to provide a surety to apply for a home loan from the bank?

      One surety is required if you are applying for a loan for repairs/renovation of flat or houses.

      

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    Abhyudaya Co-operative Bank Home Loan Reviews

    • review Home Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      I am having the home loan Abhyudhya cooperative bank and the rate of interest is around 8.25% and it was huge one. Customer service is better and the processing rate is really a huge one with the Abhyudhya cooperative bank for the home loan..
      Was this review helpful? 3
      , mumbai
      Reviewed on Sep 08, 2017
    • review
      review Home Loan
      "Good Bank..."
      0.5 5.0/5 "Blown Away!"
      I have a home loan from Abhyudaya bank. The processing was good. They had a good follow up. I am really happy with them. The EMI date is on 15th of every month, it is very much convenient. Customer service is good.
      Was this review helpful? 3
      , mumbai
      Reviewed on Aug 21, 2015
    • review Home Loan
      "Good!!!"
      0.5 4.0/5 "Great!"
      Within 10 days I got my home loan disbursed to my account. The service of Abhyudaya Coop Bank was good. Interest rate was reasonable. I was not charged anything. The documentation was correct, according to the rules it was collected. Since I had all the documents ready once it is collected I got my amount.
      Was this review helpful? 3
      , pune
      Reviewed on Jul 23, 2015
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