Cosmos Bank Home Loan

Up to Rs.35 lakh
Credit Score	Interest Rate p.a.
Above 800	7.95%
Above 750 to 800	8.30%
Above 700 to 750	8.65%
Below 700	9.20%
Above Rs.35 lakh to Rs.70 lakh
Above 800	8.35%
Above 750 to 800	8.70%
Above 700 to 750	9.05%
Below 700	9.45%
Above Rs.70 lakh to Rs.140 lakh
Above 800	8.85%
Above 750 to 800	9.10%
Above 700 to 750	9.35%
Below 700	9.85%

1. Can be used for purchase of a flat, row house, or for constructing a house.
2. Maximum loan amount of Rs.140 lakh.
3. Maximum repayment period of 20 years. In case of refinance, maximum repayment will be 20 years or the unexpired period, the lower of the two.
4. The bank offers immediate and easy loan processing.

Interest Rate	7.70% p.a. to 9.60% p.a. Special interest rates for women available
Processing fee	Up to Rs.35 lakh: 1% + GST of loan demand + GST  More than Rs.35 lakh: 0.50% + GST of loan demand + GST

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Cosmos Bank Home Loan EMI Calculator

Use the EMI calculator to compute your monthly instalments payable on a home loan from Cosmos Bank. The EMI per lakh starts from Rs.877.

All you need to do to calculate your EMI is enter a few loan-related details such as the loan amount, tenure, interest rate, and processing fee on the BankBazaar Home Loan EMI Calculator and click on the 'Calculate' button on the screen.

You will be able to see the total interest due, the processing fee, and EMI payable on the loan. Additionally, you will also get an amortisation table detailing the monthly and yearly payments (principal + interest) on the loan throughout the tenure.

Cosmos Bank Home Loan Monthly Repayment Calculator

Here is an illustration of EMIs payable on different loan amounts and tenures:

	Rs.10 lakh	Rs.20 lakh	Rs.40 lakh	Rs.50 lakh
10 years	Rs.11,975	Rs.23,950	Rs.47,899	Rs.59,874
15 years	Rs.9,384	Rs.18,768	Rs.37,537	Rs.46,921
20 years	Rs.8,179	Rs.16,357	Rs.32,715	Rs.40,893

Let's assume that you are applying for the Cosmos Home Loan Scheme for Rs.10 lakh, Rs.20 lakh, Rs.40 lakh, or Rs.50 lakh at an interest rate of 7.70% p.a. Ensure that you know the latest Cosmos Bank home loan interest rates before you input your details in the calculator.

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Cosmos Bank Home Loan Eligibility Criteria

Age	Maximum: 70 years (applicable on select loans)
Guarantor requirement	Up to 2 guarantors may be required
Employment type	Salaried and businessmen

Cosmos Bank Home Loan Documents Required

1. Loan application.
2. Identity proof documents (photo identity proof required).
3. Address proof documents (for applicant and guarantors).
4. Income documents (salary slips, bank statements, P&L statement, balance sheet, ITR statement, etc. as applicable).
5. Property documents.
6. Legal documents.

Additional documents may be required as per the bank's discretion.

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A good credit score can help you secure lower interest rates on loans and credit cards.

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FAQs on Cosmos Bank Home Loan

• What is the maximum financing I can get under the Cosmos Home Loan Scheme?

  In case of a new flat purchase, you can get up to 80% of the total flat value (includes stamp duty and registration charges, processing fees, etc.). In case of a resale flat purchase, you can get up to 70% of the valuation or the agreement cost, whichever is lower.

• How is the interest rate computed on a housing loan?

  The interest will be computed on the daily reducing balance method.

• What are the foreclosure charges on a home loan from Cosmos Bank?

  In case of floating-rate home loans, there will be no charges for foreclosing the loan. In case of fixed-rate loans, 1% of the outstanding balance will be charged if you foreclose the loan within 3 years of application. After 3 years, no charges will be applicable.

• What are the eligibility criteria to apply for the Cosmos Gruha Sanjeevani Reverse Mortgage Loan?

  This loan is especially meant for senior citizens who want a regular income source. You need to be at least 60 years old to apply for this loan. Your spouse can be a co-borrower. The maximum loan period is 15 years for borrowers between 60 and 70 years of age, and 10 years for borrowers above 70 years of age. The maximum age to apply for this loan is 75 years.

• What property types are accepted under the Cosmos Property Mortgage Loan?

  Both, residential and commercial properties are accepted under this loan. However, it must be a constructed property having a completion certificate from the respective authority. The maximum age for a commercial property to be accepted as mortgage is 30 years, and for a residential property, it is 25 years.

• If I already have a home loan from Cosmos Bank and am applying for a top-up loan, can I use the same guarantors?

  Yes. If you have an existing loan with the bank and are applying for the Cosmo Home Delight Scheme (Top-Up), you can use the same guarantors. However, if they are not ready to take on this additional liability, you can also apply with new guarantors.