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    Abhyudaya Co-operative Bank Home Loan Reviews

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    Abhyudaya Co-operative Bank Housing Loan is Rated as "Excellent!" by 2 Users

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    Home loans from Abhyudaya Co-operative Bank:

    Established in 1965, Abhyudaya Co-operative Bank is an urban multi-state co-operative banking organization. With headquarters located in Mumbai, the bank currently has 111 branches spread out in 3 states – Maharashtra, Gujarat and Karnataka. It offers a range of financial products and services which include internet banking, demat services, mortgages, loans, deposits, forex and trade.

    Among its various loan related products, Abhyudaya Bank also offers home loans to help you with financing of your dream home. This loan may be used for the purpose of purchasing a flat, constructing a house, extending an existing flat/house or to take over an existing housing loan with another financial organization / bank.

    Features of Abhyudaya Co-operative Bank Loan:

    The Abhyudaya Co-operative Bank Housing Loan, with its customer friendly terms, makes it one of the popular loans for home financing needs. Read on to find out more about this loan and what it has to offer.

    • This loan can be availed for a maximum amount Rs 70 lakh.
    • The maximum term for repayment is set at 20 years (240 months). This includes the Moratorium / holiday period.
    • A service charge of 0.7% on the sanctioned loan amount shall be levied as service charge.
    • Mortgage or insurance of the financed house / flat shall be considered as prime security for the loan.
    • LIP, NSC, FDR (if available) must be submitted as collateral security.
    • A processing charge of Rs 750 shall be charged per flat / property.
    • Sureties shall be required as follows:
    Loans up to Rs 25 lakhOne surety with gross income/salary above Rs 10,000 per month
    Loans above Rs 25 lakhOne surety with gross income/salary above Rs 20,000 per month OR Two sureties with gross income/salary above Rs 10,000 per month.

    Abhyudaya Co-operative Bank Housing Loan Eligibility:

    • Individuals who are professionals, businessmen, self-employed, salaried persons having a steady source of income are eligible to apply for this housing loan.
    • The property for which the loan is being taken, must be in the name of the applicant.
    • It is necessary to have a co-applicant in order to apply for a housing loan. The primary applicant’s spouse / son / daughter / father or mother may be co-applicants for the loan.
    Loan eligibility:
    Loan AmountLoan Eligibility
    Up to Rs 25 lakh85% of Agreement Value
    Above Rs 25 lakh80% of Agreement Value

    Abhyudaya Co-operative Bank Housing Loan Documentation:

    You must furnish the following documents in order to apply for this home loan.

    • Most recent photograph
    • Photo ID Proof
    • Copy of PAN Card
    • Proof of Residence (of applicant and guarantors)
    Salaried Applicants:
    • Last 3 months salary slips
    • Bank statement for last 6 months
    • Form 16-A
    • Last 3 years IT Returns
    • Financial statement for last 2 years
    • Title deed of the property.
    • Copy of Income Tax Returns and bank statement for the last 1 year.

    Abhyudaya Co-operative Bank Housing Loan Interest Rates:

    The Prime Lending Rate for this home loan is 13.50%. Interest rates applicable on this home loan are dependent on various factors like loan sanction date, loan disbursal date and loan amount. For more information on interest rates, you may contact the nearest Abhyudaya Bank branch in your area.

    Abhyudaya Co-operative Bank Home Loan EMI Calculator:

    Home loan repayment is a considerable part of one’s budget. It is a decision which must be made after due consideration of finances. However, you can evaluate the affordability of your home loan with the help of a tool known as an EMI calculator. After providing inputs like loan amount, applicable rate of interest and tenure of loan, you can easily find out the Emi which you shall be required to pay each month.


    1. What are the conditions under which the moratorium / holiday period may be granted?

      Moratorium / holiday period may be granted under the following two conditions:

      • Till the construction of the structure is completed OR 18 months from the date when the first loan installment is disbursed, whichever occurs earlier.
      • At the option of the beneficiary.
    2. What is the maximum amount available under the Abhyudaya Bank Housing Loan?

      This loan may be availed for a maximum amount of 70 lakhs.

    3. What is the loan eligibility as per Agreement value for this loan?

      For loan amounts below and up to Rs 25 lakh, one may avail 85% of the agreed loan value. For loan amounts exceeding Rs 25 lakh, applicants may avail a loan amount that is 80% of the agreement value.

    4. What is the maximum term for repayment of this housing loan?

      This loan may be repaid within a maximum period of 20 years.

    5. Are there any pre-payment charged levied for pre-closure of the Abhyudaya Bank Housing Loan?

      No, there are no pre-payment charges involved if the applicant closes the loan prior to the due date. This includes switching over of the Abhyudaya Bank housing loan to another bank or financial institution.

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