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

    Saraswat Bank offers home loans of up to Rs.70 lakh (per dwelling unit) for a maximum tenure of 20 years at competitive rates starting from 8.65% p.a. Women applicants can enjoy a concession of0.10% on the existing rate. The processing fee ranges from Rs.10,000 to Rs.20,000.

    Saraswat Bank Home Loan Schemes

    1. Vastu Siddhi Home Loan
      • Competitive rates starting from 8.65% p.a.
      • Loans of up to Rs.70 lakh
      • Flexible tenures of up to 20 years
      • Financing of up to 80% of the total property cost
      Interest Rate 8.65% p.a. to 8.80% p.a.
      Processing Fee Rs.10,000 to Rs.20,000
    2. Special Scheme for Defense Forces
      • Specifically designed for defense personnel
      • Competitive rates starting from 8.65% p.a.
      • Loan can be used for personal expenses too
      • Flexible tenures of up to 20 years
      Interest Rate
      • 8.65% p.a. to 8.80% p.a. (floating rate)
      • 11% p.a. to 11.65% p.a. (fixed rate)
      Processing Fee Rs.10,000 to Rs.20,000

    Saraswat Bank Home Loan EMI Calculator

    Your monthly instalment or EMI (Equated Monthly Instalment) depends on multiple factors, such as the loan amount, tenure, and interest rate. It’s always advised that you calculate your EMI and processing fee beforehand so that you can manage your finances in a better way or compare the loan scheme with other banks’ schemes.

    You can use BankBazaar Saraswat Bank Home Loan EMI Calculator to calculate the monthly instalment. The process is relatively easy and hassle-free with a quick turnaround time. All you need to do is enter all the details of your loan, including the loan amount, interest rate, and tenure. For Saraswat Bank, you don’t need to enter the processing fee details as it’s already mentioned it would be either Rs.10,000 (for loans of up to Rs.50 lakh) or Rs.20,000 (for loans up to Rs.70 lakh) on the financing amount. Hit the button “calculate” to check your EMI.

    This will be followed by an amortisation table giving you a complete breakdown of your payment schedule.

    Saraswat Bank Home Loan Eligibility Criteria

    Age 23 years to 65 years
    Type of Employment Salaried or self-employed or defense personnel
    Income Requirement Minimum of Rs.30,000 per month
    Nationality Resident Indian
    Work Experience Minimum of 2 years

    Documents Required

    For salaried

    • Identity proof
    • Residential address proof
    • Last 3 months’ salary slips
    • Last 3 months’ bank statements
    • Latest photograph
    • Property-related documents

    For self-employed

    • Identity proof
    • Residential address proof
    • Last 3 months’ bank statements
    • Last 3 years’ profit and loss account and balance sheet
    • Property-related documents

    FAQs

    1. What other benefits can I get from Vastu Siddhi Home Loan?

      With this scheme, you can be eligible for pre-sanctioned car loans with processing fee completely waived off. Also, all the new applicants of this scheme are eligible for a minimum housing loan of Rs.50 lakh.

    2. Can I get the benefits of PMAY scheme through Saraswat Bank?

      Yes, you can get subsidy on interest as mentioned under the PMAY (Pradhan Mantri Yojana) scheme, provided you are eligible.

    3. Is there any way of waiving off the processing fee?

      It’s solely at the bank’s discretion that whether your processing fee will be waived or not. However, processing fee won’t be charged for loans of up to Rs.28 lakh.

    4. What’s the maximum margin of financing?

      You can get a maximum financing of 80% of the total property cost.

    5. Is there any specific terms and conditions or clause for loan for construction of house?

      Yes, the cost of land should not exceed 65% of the total cost of the project. Also, the construction of the house should be completed within 24 Months.

      

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    Saraswat Bank Home Loan Reviews

    • review Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through Saraswat Cooperative Bank .The rate of interest and the processing fee was nominal and got this loan sanctioend on time without any delay .Each and evey information about th loan was cleary shared by the agent .I am convenient with the service so far .
      Was this review helpful? 2
      , thane
      Reviewed on Jan 17, 2020
    • review
      review Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using housing loan with SARASWAT COOPERATIVE BANK from past five years, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was nominal, they have charged me up to 8.65% which was nominal,they have waived off my processing fee, their customer care is good, they use to update me if any change are made in interest rate, so far they have not charged me hidden charges.
      Was this review helpful? 2
      , pune
      Reviewed on Jun 16, 2019
    • review Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I have housing loan with Saraswat bank, they gave 8.35% it is low in the market, they have sanctioned the loan amount within one and half month they done lots of formalities. I have purchased ready to occupy apartment belongs to builder . The processing fee is quite nominal with the bank.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 17, 2018
    • review Home Loan
      "Great"
      0.5 4.0/5 "Great!"
      I am having the Home loan with the Saraswat bank limited and the rate of interest is around 8.11%, also the customer service is very prompt. I am very happy with the Saraswat cooperative bank, also am very happy with them till now.
      Was this review helpful? 2
      , pune
      Reviewed on Jun 20, 2018
    • review Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Saraswat co-operative bank approved my home loan in two days which was a very fast process and I am happy with the customer services of the bank. The disbursement was as needed and on time as well. The bank also had a good deal on the interest rate and processing charges.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 06, 2017
    • review Home Loan
      "Excellent staff"
      0.5 5.0/5 "Blown Away!"
      I hold a home loan with Saraswat co-operative bank and the services are excellent. A customer can identify the best bank by the way they are treated by the staff of the bank. They value a customer and the process was also excellent and so was the interest rate and charges.
      Was this review helpful? 3
      , mumbai
      Reviewed on Apr 21, 2017
    • review Home Loan
      "Fast competitive and higher rate of interest rate"
      0.5 4.0/5 "Great!"
      I got the home loan with the saraswat co-operative bank by May- 2011. It was around 11% as interest rate one that time and they have disbursed the loan amount within thirty days of time, also the processing charges were around 3% to 4%,which was really high, then I have transferred the loan to some other bank.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 10, 2017
    • review Home Loan
      "Friendly Bank"
      0.5 5.0/5 "Blown Away!"
      I have a long term relation with Saraswat Bank, They cooperate very well with the customers. Its a nationalized bank so they had offered me the best interest rate of 8.65% for my home loan without processing fee. They had sanctioned the loan amount Rs.23 Lakhs for a tenure of 5 Years, I am very much happy with the service and process followed by Saraswat Bank.
      Was this review helpful? 2
      , pune
      Reviewed on Mar 03, 2017
    • review Home Loan
      "Saraswat bank is Worst bank for home loan."
      0.5 0.5/5 "Unacceptable"
      I avail home loan from this bank. After 3 years I feel that this bank is worst bank for home loan. Staff is not qualified. To many hidden clause applicable which you came to know after signing loan document. Advise to not approach this bank for home loan.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Jan 10, 2017
    • review Home Loan
      "Prompt service "
      0.5 4.0/5 "Great!"
      The executives of saraswat cooperative bank was very helpful and completed the loan process within 25days as per their commitment made.I like their service because they are very good in assisting customer and processing the home loan as per the commitment.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 02, 2016
    • review Home Loan
      "Perfect service "
      0.5 4.0/5 "Great!"
      The service provided by saraswat was on perfect for the home loan process.I have taken the loan through the other branch but still the service provided was perfect.The interest rate applied was around 11% as fixed rate for the home loan with saraswat bank
      Was this review helpful? 0
      , pune
      Reviewed on Jan 27, 2016
    • review Home Loan
      "Good assitance.."
      0.5 5.0/5 "Blown Away!"
      Entirely the Saraswat Cooperative bank took two months to settle the home loan amount. I have an account for a long time so they processed the loan without collecting papers. Also interest rate is just 10.5%. People in the bank know me well as they assisted great.
      Was this review helpful? 1
      , thane
      Reviewed on Dec 09, 2015
    • review Home Loan
      "Bank ho toh saraswat jaisi "
      0.5 5.0/5 "Blown Away!"
      I would suggest you all to go with Saraswat Bank because its co-operative bank which is not influenced by anyone. And because they are not controlled by anyone, loans are provided at lesser rate of interest as compared to private banks in market. And nowadays scope of co-operative banks is increasing and they provide us with satisfied services which is helpful for customers. Go with Saraswat Bank.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 29, 2015
    • review Home Loan
      "Fair!!!"
      0.5 5.0/5 "Blown Away!"
      My experience was good with Saraswat cooperative bank. I availed my home loan with this bank. Interest was around 10.5% which is flat and very much satisfied with that. Precessing fee was minimum. In 15 days my loan got disbursed. It would be nice if they appoint employees for fast and process.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 12, 2015
    • review Home Loan
      "The best bank"
      0.5 5.0/5 "Blown Away!"
      I have very good relationship with the saraswat bank.They are good in checking the documents and doing ingestion for the home loan which is better than other banks. They offered floating interest rate of 10%and charged Rs.15,000 as the processing fee which includes the service tax. I am much satisfied with the bank.
      Was this review helpful? 0
      , thane
      Reviewed on Aug 20, 2015
    • review Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I had a very good experience with Saraswat Cooperative Bank and the customer service provided was really good.It was very easy for me to get this loan and they offered average rate of interest in this process.The loan amount was disbursed on the same day which is really quick.
      Was this review helpful? 1
      , thane
      Reviewed on Jun 02, 2015
    • review Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a housing loan with Saraswat Co operative Bank their processing time is very less. They did not ask for many documents. They took hardly a monthâ??s time to provide this loan. Fortunately, they have not increased the rate of interest. At the same time, I am not sure whether the rates have reduced. They did not charge any additional fees as such till date.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 11, 2015
    • review Home Loan
      "Its fine"
      0.5 4.0/5 "Great!"
      Saraswat Housing loan process is really good. I am holding a salary account with them based on which they have offered this housing loan. Interest rate offered by them was 10.75% which is floating , they have even reduced the rate to 10.6%. I have got the copy of title deeds. I am holding this for the past 3 years . The total term of this loan is 15 years.
      Was this review helpful? 2
      , silvassa
      Reviewed on Apr 30, 2015
    • review Home Loan
      "Other banks should learn from Saraswat Bank"
      0.5 3.5/5 "Pretty good"
      My Overall experience with Saraswat Bank was good but their processing fee is high and should be reduced to retain their customers. Customer support is really awesome and approval was done in normal time like how other banks does. Best thing with saraswat bank is, their rate of interest is less when compared with other banks.
      Was this review helpful? 3
      , mumbai
      Reviewed on Dec 06, 2014
    • review Home Loan
      "Other banks should learn from Saraswat Bank"
      0.5 3.5/5 "Pretty good"
      My Overall experience with Saraswat Bank was good but their processing fee is high and should be reduced to retain their customers. Customer support is really awesome and approval was done in normal time like how other banks does. Best thing with saraswat bank is, their rate of interest is less when compared with other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 06, 2014
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