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

    The Cosmos Co-Op Bank Limited offers myriad home loan schemes including a regular home loan, a home top-up loan, a property mortgage loan, and a reverse mortgage loan. The maximum tenure offered is 20 years and interest rates start from 6.70% p.a. with special rates for women. The processing fee ranges from 0.50% - 1% of the loan amount (excluding service fee) with no prepayment charges for closing the loan early (terms and conditions apply).

    Cosmos Bank Home Loan Interest Rates 2022

    • Can be used for purchase of a flat, row house, or for constructing a house.
    • Maximum loan amount of Rs.70 lakh.
    • 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.
    • The bank offers immediate and easy loan processing.
    Interest Rate 6.70% p.a. Special interest rates for women available
    Processing fee Loan amount up to Rs.10 lakh: 1% + service tax
    Loan amount above Rs.10 lakh: 0.50% + service tax
    1% of loan amount or Rs.5,000

    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.11,457 Rs.22,914 Rs.45,827 Rs.57,284
    15 years Rs.8,821 Rs.17,643 Rs.35,286 Rs.44,107
    20 years Rs. 7,574 Rs.15,148 Rs.30,296 Rs.37,870

    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 6.70% p.a. Ensure that you know the latest Cosmos Bank home loan interest rates before you input your details in the calculator.

    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

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

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


    1. 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.

    2. How is the interest rate computed on a housing loan?

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

    3. 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.

    4. 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.

    5. 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.

    6. 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.


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    Cosmos Bank Home Loan Reviews

    • review
      0.5 3.0/5 "Satisfactory"
      It was from the Cosmos cooperative bank I took a home loan. The entire process was very fine. I got the loan amount of 7 lakhs from them. The disbursement was within 3 days. Their executives helped me during the process and the rate offered to me was 11%.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 18, 2016
    • review
      "Very Good!!!"
      0.5 4.0/5 "Great!"
      Cosmos Cooperative Bank is very good bank, they do a regular follow up, their service is good. Actually I donâ??t have a home service, in a single shot I went and submitted all my documents. Interest rate for home loan was good compared to the other coperative banks. . Processing fee was very cheaper. It took around 1 month to process I feel the process has to be done little more faster. Apart from gaunter I am very much happy with Cosmos bank.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 29, 2015
    • review
      "Very easy"
      0.5 5.0/5 "Blown Away!"
      Cosmos housing loan is very good. they had asked for several documents and they are very keen in collecting all the documents. No matter what it is once after the loan is disbursed customer is the king. Rate of interest offered by them is the best in the market and processing fee is nominal.
      Was this review helpful? 0
      , baramati
      Reviewed on May 25, 2015
    • review
      0.5 1.0/5 "Really Bad"
      Cosmos bank's very bad experience to us, I suggested to other people don't go to this bank for home loan. After two months they tell me what problem in documents. In the two months the given very bad service to us. They not given me one list of document & daily require new documents.
      Was this review helpful? 0
      , pune
      Reviewed on May 01, 2015
    • review
      0.5 5.0/5 "Blown Away!"
      COSMOS cooperative Bank is good. I have applied for the home loan on 3 rd of Feb and it got approved on 24th of feb with in a span of 21 days it got approved, their interest rate is less than any other Bank in the market, bunch of documents and lots of other thing is required when it comes to home loan, but they made it very easy for me what ever help we require we can approach Bank for that, Bank is ready to provide any help they work 7 days a week and they are very helpful.
      Was this review helpful? 13
      , pune
      Reviewed on May 21, 2014
    • review
      "Wonderful service"
      0.5 5.0/5 "Blown Away!"
      The Home loan with Cosmos cooperative bank for these 3 years was wonderful. I really wanted to mention about the customer service who responds properly and in a quicker manner and they guide us properly on all ways. And within 15 days of time, i got my loan disbursed which made me feel excited. I got my loan at the interest rate of 11.5% and around 40,000 was my processing charges which made me disappointed. Other than that it was quite good.
      Was this review helpful? 4
      , pune
      Reviewed on May 20, 2014
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