The Catholic Syrian Bank (CSB) was inaugurated in 1920 at Thrissur and is a private sector bank based out of south India. The bank became a part of the Second Schedule to the RBI Act 1934, in August, 1969. The bank received ‘A’ Class scheduled bank status when it recorded a total deposit of more than Rs.25 crores. Catholic Syrian Bank has spread its network with 232 ATMs and 431 branches in India. Almost 60% of CSB’s branches are within the semi-urban areas, while it has a robust presence in the rural part of the country as well.
The Catholic Syrian Bank Home Loan is provided to individuals or group of individuals seeking loan for the purpose of repair, renovation, construction, extension or purchase of a house, flat or property.
Eligibility of Catholic Syrian Bank Home Loan:
The following are the eligibility criteria that are required to be fulfilled in order to avail a home loan from the Catholic Syrian Bank:
The documents required when applying for a home loan from the Catholic Syrian Bank are:
Salaried applicants need to submit the following documents:
Self-employed applicants need to submit the following documents:
NRI salaried applicants must present the following document to the bank:
Self-employed NRI applicants must furnish the following documents to the CSB:
EMI calculator is based on the combination of loan amount, interest rate and tenure of the loan.
It is calculated based on a reducing balance, assuming EMI payments in arrears, where interest is debited monthly before the EMI payment date and not before.
Features of the home loan from Catholic Syrian Bank are:
Maximum Loan Amount: CSB provides maximum loan amount of 75% of purchase or construction cost of the property or the loan eligibility amount, whichever is of lower value.
Loan Tenure: The bank provides home loan for a tenure of up to 20 years for resident Indians and up to 15 years for NRIs.
Security: The bank requires the borrower to submit the mortgage of the property to be bought or constructed, as security.
EMI (Equated Monthly Installment): Borrowers can avail a loan of a lakh for an EMI as low as Rs.998 from the bank.
Home Loan Prepayment:
CSB or Catholic Syrian Bank offers home loans at an interest rate as low as 10.5%.
The maximum loan amount given by the bank is 70% of the cost of the construction or the price of the property.
CSB provides a home loan for a tenure of up to 20 years for resident Indians.
No, the bank does not require you to pay any penalty for prepayment of the home loan.
You will be required to provide the mortgage of your land and building as security towards the home loan from CSB.