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  • Catholic Syrian Bank Home Loan

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  • 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 home loan from CSB, referred to as ‘Own Your Dream House’ is available to both resident Indians and NRIs.
    • It is provided to individuals or group of individuals, if resident Indian and NRIs on regular income.
    • The age limit for CSB’s home loan is:
      • For resident Indians, Salaried – Until under Superannuation plan, Self-employed – 65 years.
      • For NRIs, Salaried – Until under Superannuation plan, Self-employed – 65 years.
    • Co-applicants can be any of the following members: mother, father, brother, son or spouse.

    Documents Required for CSB Home Loan:

    The documents required when applying for a home loan from the Catholic Syrian Bank are:

    • For Indian Residents:

      Salaried applicants need to submit the following documents:

      • Most recent pay slip or salary certificate.
      • Most recently filed ITR (Income Tax Return) or Form 16 from your employer.
      • Bank statements from last six months.

      Self-employed applicants need to submit the following documents:

      • Most recent ITR.
      • Profit and loss balance sheet and financial for the last three years.
      • Bank statements from last six months.
    • For NRIs:

      NRI salaried applicants must present the following document to the bank:

      • Employment/salary certificate issued by the employer or embassy or the most recent salary slip.
      • Details of the international bank where salary gets credited.
      • Employment contract of applicant along with a copy of Passport having the Visa Stamp and entry/exit seal, a valid work permit and employer’s profile in brief.

      Self-employed NRI applicants must furnish the following documents to the CSB:

      • Income evidence stating the financials attested by sponsor.
      • Business profile in brief.
      • Operating international bank account details.
      • NRE Bank account statement for the period of last six months.
    • Other documents required for obtaining the CSB home loan are:
      • Property’s title deed, prior deeds and linked revenue and village records.
      • The sale agreement is an important document in case of loan for property.
      • For construction loan, estimate for construction, approved plan and building permit is also needed.

    Interest Rate of Catholic Syrian Bank Home Loan:

    • At present, the base rate of CSB home loan is 10.25% - 10.50% and the floating interest rate of the bank is dependent on the base rate.
    • At the above rate, a home loan of Rs.1 lakh comes up to an EMI of Rs.1105 for a tenure of 15 years and Rs.998 for a 20 year tenure.
    • The bank’s interest rate and applicable interest rate for all home loans is expected to increase with increase in RBI’s interest rates. If there is a fall in rates, it would be passed to old borrowers along with the new home loan borrowers.

    CSB Home Loan EMI Calculator:

    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 CSB Home Loan:

    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.

    • Usually, the EMI of CSB’s home loan remains the same as set unless a change is requested by borrower and approved by the bank. The approval for the same also depends on the loan eligibility conditions for a nominal charge.
    • In case of an increase in the floating rate of interest on borrower’s home loan, the bank will maintain the same EMI, however the loan tenure is increased. So, you will required to continue paying the same amount of EMI but for a longer period.
    • In case the increase is so high that the revised loan tenure is much higher than the permissible limit of Catholic Syrian Bank, then the bank may raise the EMI amount.
    • Under tranched EMI scheme availed from the bank for partly disbursed loans, the EMI amount will go higher with each disbursement.

    Home Loan Prepayment:

    • Catholic Syrian Bank does not charge any prepayment penalty in home loans taken at floating rates.
    • When the prepayment for the loan is carried out, there is a decrease in the outstanding principal loan amount. Borrower can choose between keeping the same amount as EMI and bringing down the loan tenure, paying off the loan earlier than the due date or decrease the EMI and maintain the same loan period. However, it is important to note that by maintaining a constant EMI and bringing down the loan period, your interest remains low.


    1. What is the interest rate at which I can avail a home loan from Catholic Syrian Bank?

      CSB or Catholic Syrian Bank offers home loans at an interest rate as low as 10.5%.

    2. What is the maximum loan amount that I can enjoy if I take a home loan from CSB?

      The maximum loan amount given by the bank is 70% of the cost of the construction or the price of the property.

    3. I am a resident Indian, what is the maximum loan tenure for a home loan available at Catholic Syrian Bank?

      CSB provides a home loan for a tenure of up to 20 years for resident Indians.

    4. If I want to prepay my home loan taken from the Catholic Syrian Bank, will I be liable for any penalty?

      No, the bank does not require you to pay any penalty for prepayment of the home loan.

    5. If I take a home loan from CSB, what is the security that I will have to provide towards it?

      You will be required to provide the mortgage of your land and building as security towards the home loan from CSB.


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    Catholic Syrian Bank Home Loan Reviews

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