A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Corporation Bank NRI Home loan

    Non-Resident Indians have the option of investing in property in India with the help of Corporation Bank’s NRI Home Loan. This scheme entails hassle-free documentation, quick disbursal, and attractive interest rates. There is no pre-payment penalty in this loan scheme.

    Interest Rate for the Salaried and Self-Employed

    Description Loan Amount Effective Rate of Interest (p.a.)
    Corp Home Floating Interest Rate Up to Rs.2 crore 9.00%
    More than Rs.2 crore 9.25%
    Corp Home Fixed Interest Rate Up to Rs.25 lakh 12.00%
    More than Rs.25 lakh 12.50%
    Corp Ghar Shobha Loan Scheme 9.40%
    Corp Ghar Sansar Loan Scheme 9.40%

    Processing Fees

    Corp Home Floating Rate 0.50% of the total loan amount (subject to a maximum of Rs.50,000)
    Corp Home Fixed Rate 0.50% of the total loan amount (subject to a maximum of Rs.50,000)
    Corp Ghar Shobha 0.50% of the total loan amount (subject to minimum od Rs.1,000)
    Corp Ghar Sansar 1.00% of the total loan amount (subject to a maximum of Rs.10,000)

    Eligibility Criteria

    • Age: NRIs between the ages of 18 years and 60 years.
    • Resident Type: NRIs holding an Indian passport and Persons of Indian Origin (PIOs) holding a foreign passport.
    • Must have been residing in a foreign country for a period of at least one year.

    Loan Amount

    The minimum amount of loan one can borrow is Rs.5 lakh and the maximum sum can go up to Rs.500 lakh, depending on the location of the borrower.

    Margin

    Corp Home Premium has a margin of 10% to 25% according to the loan amount.

    Security

    Mortgage of flat/house will act as a security where the property should not be more than 30 years old. The repayment period must not be more than the balance life of the property. The spouse of the borrower must be a co-applicant. If the spouse is living abroad, other relatives living in India can be the co-applicant.

    Repayment Tenure

    The loan scheme offers a maximum repayment timeframe of 30 years to its borrowers. This includes an preliminary repayment holiday period to a maximum of 18 months. The repayment period must not be more than the age of retirement in case of salaried individuals and 70 years in case of self-employed individuals.

    Corporation Bank NRI Home Loan – Corp Home Premium Features

    • No hidden charges involved
    • Registration charges, documentation charges, and stamp duty are not required
    • There are zero prepayment charges
    • Offers a reasonable repayment period

    FAQ’s

    1. Is my Indian residential address important?
    2. Yes, you will be required to provide your overseas as well as your Indian residential address while borrowing the loan.

    3. What are the purposes that can be fulfilled with Corporation Bank NRI Home Loan?
    4. This loan can be used for the following purposes:

      • For the purchase of a constructed house/flat/flat under construction.
      • For the building of a house on a pre-owned land.
      • For the purchase of the land and flat/house construction thereafter.
      • For taking over other loans from other banks or financial institutions.
    5. Can I switch from floating rate to fixed rate within the tenure of the loan?
    6. Yes, you can. However, a certain conversion fee will be charged.

    7. Are there any additional tax benefits that NRIs can enjoy?
    8. No. You can claim tax benefits only if you have filed your returns properly.

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    Corporation Bank NRI Home loan Reviews

    • Corporation Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My housing loan was taken with COPERATIVE BANK , they have given me sufficient loan amount and the rate of interest they have charged me was nominal , and the processing fee also was charged nominal only, they have not charged any hidden charges there service is good.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 30, 2019
    • Corporation Bank
      Corporation Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The experience in getting my Home Loan from them has not been a great experience, the process was quite good and the loan amount which they had provided was sufficient as well. The interest rate and charges with them has been nominal. But their customer support team response has not been good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Mar 12, 2019
    • Corporation Bank Home Loan
      "No hidden charges"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan in 2006. I have chosen the tenure period of the15 years and i have closed the loan in 3 years without any pre-closure charges. They have offered me a interest rate of 7.5% which is a floating interest rate and there was no processing fee.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 04, 2019
    • Corporation Bank Home Loan
      "Customer friendly bank"
      0.5 5.0/5 "Blown Away!"
      I have purchased a home loan from Corporation Bank in 2004. I have applied the loan amount of Rs. 10 lakhs and i have received the same amount. The services with the corporation bank is really fine. Within 5 years, i have completed the loan. I have received the loan on time. There is no charges for pre-closure
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 04, 2019
    • Corporation Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The experience with this loan has been quite good and process has been smooth and easy. The dealer who had arranged for the property has arranged me with this loan and it went smooth. The interest rate has been nominal when compared with the market rate and there has not been any sort of extra charges made by them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 20, 2018
    • Corporation Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I am running a home loan with Corporation Bank and it was taken before 8years. They have offered me very less interest rate. I have purchased a residential property. The processing fee is nominal. The loan duration is 12 years. I can do pre closure and part payment anytime.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 29, 2018
    • Corporation Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my home loan with CORPOTION BANK, the loan amount they have given me was sufficient and the rate of interest they have shared me was nominal they have charged me low as it is nationalized bank, and there processing fee was there or not i have no idea, there overall service was good, there was no hidden charged in this loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 28, 2018
    • Corporation Bank Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      I took housing loan from corporation bank, I took the loan in 2006 at the time interest was good 8.25%. Now it got increased around 10.25% of interest. My company got tie up with the bank. Hence my personal experience, I don't have any issues with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 10, 2018
    • Corporation Bank Home Loan
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      I have taken home loan with CORPORATION BANK . I use to pay EMI 40000 and tenure period is 20years . I am not happy with customer services they need some improvement because i cannot connect them easily . Processing fee will be waive off , rate of interest is 8.6% and it is nominal in the market . There is option of precloure too . My loan amount is up to the mark .
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 16, 2018
    • Corporation Bank Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      The manager is giving a proper service for the customer in my branch. I have taken the loan amount of 25 lakhs. I have taken the loan in 2010. I have opted the tenure period of 20 years. They have offered me a 8.5% as interest rate. I have received my home loan. I will recommend this bank to everyone for a home loan.
      Was this review helpful? 5
      , kolkata
      Reviewed on Jul 30, 2018
    • Corporation Bank Home Loan
      "Worst bank for all"
      0.5 3.0/5 "Satisfactory"
      Interest rates are more in my Home loan. I have applied the loan amount of Rs. 29.60 lakhs. They are offering a interest rate of 8.85% which is floating interest and i don't remember about the processing fee. I used to pay the EMI of 28000. I have chosen the tenure period of 25 years. Their customer care is not good. The online transfer is not working properly.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 27, 2018
    • Corporation Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with COPORATION BANK 8 years back./The loan amount was 5.40,000 and the give interest rate was best in the market. The customer service and responses was excellent.The documentation was quite smooth and simple. I did not face any inconvenience through out the service . I felt that the process is very transparent and very distinct which was satisfactory .
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 10, 2018
    • Corporation Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with COOPERATIVE BANK 5 years back. The loan amount was 16 lakhs and the interest rate was 9-10% which is very high . The customer service and responses was good. There is no processing fee and they have sanctioned the loan within the committed time. The executives are very helpful so I would like to recommend to others.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 24, 2018
    • Corporation Bank Home Loan
      "BEST SERVICE"
      0.5 5.0/5 "Blown Away!"
      Got my housing loan from corporation bank, where they did quick documentation and approval process. There rate of interest is low compared to other bank available in market their customer service and response is good toward queries related to housing loan.
      Was this review helpful? 0
      , kochi
      Reviewed on May 12, 2018
    • Corporation Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with Corporation bank and my loan experience was very good. The loan amount was for Rs 50 lakhs with 8.45% as interest rate which is nominal when compared to other banks. Customer service was good and they responded on time. I have a tenure period of 20 years for this loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Mar 31, 2018
    • Corporation Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have got the home loan experience with the CORPORATION BANK around 4 years ago. The communication part is excellent with the CORPORATION BANK and they have disbursed the loan amount within a week time. The rate of interest and the charges are average when compared with the other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 08, 2018
    • Corporation Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The Corporation bank doesn't have any kind of online facilities, they have the old versions, still they haven't upgraded their version, It would be great if they can update their net banking facility . I got the home loan with Corporation bank, Within a month I got the home loan from Corporation bank.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 10, 2017
    • Corporation Bank Home Loan
      "Very fast"
      0.5 4.0/5 "Great!"
      Co oporation bank housing loan is very fast, they took around 2weeks for disbursement and the funds were released to my account say in 2 weeks.It is a single account .I am getting notification from them on time.There is a fluctuation in the rate very often, however sad to say that I am not getting notification about the rate fluctation from them.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 24, 2017
    • Corporation Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with CORPORATION bank 3 years back. The loan amount was 15lakhs and the EMI amount was 15,000 . The rate of interest was 10.25% which was high at that time but now they have reduced it.They provided door step service for documentation collection and sanctioned the loan with the committed time.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 28, 2017
    • Corporation Bank Home Loan
      "Not a good one"
      0.5 2.0/5 "Expected more"
      CORPORATION Bank though it is a Nationalized bank the charges are very high. Also they are not transparent, lot of hidden charges are there for example processing fees and many other charges were levied post the loan was disbursed and I got to know about these charges at a later stage. Another constraint is,they dont intimate us, when there is a fall in the rates. It is not a joint loan, finally I had transferred my home loan from this bank to HDFC LTD.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 12, 2017
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