Corporation Bank of India has recently subsumed Andhra Bank. For customers who are willing to avail or availed home loans through Corporation Bank, the effective home loan interest rates will be as per the rates of the latest Union Bank of India home loan interest rates.
Apply for a housing loan from Corporation Bank and opt between various types of home loans to suit your requirement. Avail up to Rs.5 crore as home loan from Corp Bank for the purpose of construction of a new house or purchase a new or existing house/flat.
|MCLR (1 year)||7.60% p.a.|
|Loan Amount||Up to Rs.5 crore|
|Processing Fee||0.50% of the loan amount (Maximum of Rs.50,000)|
|Maximum Tenure||30 years|
|Rate Packages Available||Floating/Fixed|
Compare: Home Loan Interest Rate all Banks
The Corporation Bank offers several types of home loans customised to suit different needs. Here are the various types of home loan schemes offered by the bank:
Compute the Equated Monthly Instalment (EMI) payable towards your home loan using the Corporation Home Loan EMI calculator. The EMI per lakh is Rs.794.
Enter all the required fields with relevant information such as interest rate, loan amount, tenure and the processing fee on the Home Loan EMI Calculator and select ‘Calculate’. You’ll be able to view the breakup of the total amount payable to the bank and the total interest due along with EMI payable during the loan tenure.
For salaried and for self-employed eligibility criteria are same. Which is listed below:
Below are the documents required to apply for a home loan with Corporation Bank:
Currently, the bank charges 0.50% of the loan amount subject to a maximum of Rs.50,000. However, the bank has waived the charges for employees of Central/State Government and Defense Personnel for a loan amount of up to Rs.2 crore.
Yes. Corporation Bank offers housing loans based on the Pradhan Mantri Awas Yojana (PMAY) scheme for the Economically Weaker Section (EWS) and Low-Income Group (LIG).
Yes. It’s mandatory for the applicant of the housing loan to take an insurance on the property for which the loan has been extended and the premium has to be borne by the borrower.
Yes. Corporation Bank offers the Corp Site scheme for site or plot offered by the local Development Authority.
The maximum loan tenure is 30 years.
The maximum amount for a housing loan is Rs.5 crore.
Yes. The bank offers to take over your existing home loan from other banks or financial institutions under the Balance Transfer facility.
Currently, the bank does not charge any prepayment fee towards your housing loan.
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