A "low interest" loan shouldn't mean you have very little interest in paying it back!
You can avail home loans from Catholic Syrian Bank at interest rates ranging between 8.30% p.a. and 8.63% p.a. The interest rate on the home loans from Catholic Syrian Bank is floating. The maximum repayment tenure on Catholic Syrian Bank home loan is 20 years.
Catholic Syrian Bank home loans are available for both salaried and self-employed individuals at attractive interest rates and affordable processing fees.
| MCLR | 8.30% p.a. |
| Loan Amount | 75% of the property cost or construction cost |
| Processing Fees | 0.50% of loan amount |
| Penal Interest Rate | Contact the bank |
| Prepayment/Foreclosure Charges | Nil |
| Max Tenure | 20 years |
| Rate Packages Available | Floating rate |
Catholic Syrian Bank’s home loan schemes have floating interest rates that are linked to the 6 month’s Marginal Cost of Funds based Lending Rate (MCLR).
| Catholic Syrian Bank Home Loan Schemes | Interest Rates |
|---|---|
| Housing Loan | 8.30% - 8.63% p.a. |
Compare: Home Loan Interest Rate all Banks
The Housing Loan offered by Catholic Syrian Bank has the following features:
| Interest Rate | Processing Fees |
|---|---|
| 8.30% - 8.63% p.a. | 0.50% of loan amount |
You can calculate the EMI amount you need to pay towards the home loan availed from Catholic Syrian Bank by using the EMI Calculator tool. Using the tool is easy, you just need to enter the loan amount, tenure, and the interest rate. Once you enter the details, the tool will calculate the EMI and display it to you. 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.
The eligibility criteria for the home loan is as follows:
| Eligibility Parameters | Eligibility Criteria |
|---|---|
| Nationality | Resident and Non-Resident Indians (NRIs) |
| Age | Up to 65 years |
The documents required when applying for a home loan from the Catholic Syrian Bank are as follows:
Resident Indians:
Non-Resident Indians:
Other Documents
A floating rate of interest on Catholic Syrian Bank home loan simply means that the interest rate will change according to the change in the 6-months MCLR. Banks change the MCLR for different tenors from time to time.
Yes, you can enjoy subsidies on the home loan availed from Catholic Syrian Bank under the Pradhan Mantri Awas Yojana. You can get in touch with the bank directly to get more information on the same.
The maximum amount of loan that you can avail from Catholic Syrian Bank is 75% of the cost of the already constructed flat/house or 75% of the construction cost.
Yes, Catholic Syrian Bank allows a repayment holiday of up to 12 months for instances where you are unable to make the EMI payments due to some financial problems.
NRIs can enjoy a maximum repayment tenure of 15 years on the Catholic Syrian Bank home loan.
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