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

    • 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? 1
      , 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? 0
      , 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? 0
      , 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? 1
      , 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
    • review Home Loan
      "Attractive Interest Rates"
      0.5 3.0/5 "Satisfactory"
      "My Overall experience with Saraswat Bank was good but their processing fee is high and should be reduced to retain the customers.Customer support is really awesome and approval was done in normal time like how other banks does.Best things with saraswat bank is their rate of interest is less when compared with other banks "
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 16, 2014
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    Saraswat Bank Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Saraswat Bank Home Loan

    The home loan option from Saraswat Bank, Vastu Siddhi Housing Loan, is a highly customer centric product from an equally proud bank. Founded on 14th September 1918, the erstwhile ‘Saraswat Co-Operative Banking Society’ was envisioned by a group of visionary entrepreneurs, and was founded as a small-time society to aid families that needed immediate financial help. Today, nearly a century later, the bank boasts of 267 fully computerized branches (located in Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Goa and Delhi), 205 ATM installations and over Rs.39,000 crores in annual business. In this setup, the home loan from Saraswat Bank has emerged as a major product for this ZERO NET NPA Bank.

    Home Loans from Saraswat Bank:

    The Vastu Siddhi Housing Loan provides funds for the purchase of an already constructed house/flat, construction of an own house or the takeover of housing loans from other banks. A robust, scalable and simple loan option, this is ideal for salaried as well as self-employed individuals, and confirms a ceiling of Rs.70 lakhs as maximum loan amount. The repayment tenure stretches upto 20 years, and the applicable interest rate on the home loan is very competitive, thus, soliciting your consideration when it comes to Saraswat Bank’s Vastu Siddhi Housing Loan.

    Features of Saraswat Bank Home Loan:

    When it comes to the Vastu Siddhi Housing Loan, customer centric features are definitely the USP. This would be a broad statement, breaking it down, this housing loan offers the following unbeatable features-

    • Loan eligibility applies for salaried employees, businessmen, self-employed professionals.
    • Maximum home loan amount is Rs.70 lakhs.
    • Home loan disbursal amounts to 85% (for loans upto Rs.25 lakhs) and 80% (for loans above Rs.25 lakhs) of the overall value of the property to be purchased.
    • In terms of home loan eligibility for salaried people- maximum 60x of the applicant’s net take-home salary will be disbursed. For self-employed people, this mark stands at 5x of average net cash accruals.
    • Maximum repayment tenure of 20 years for salaried and 15 years for self-employed individuals.
    • Salaried applicants can enjoy holiday for repayment of the principal amount for upto 12 months. Also, step-up repayment or bullet repayment option is also available.
    • Processing fees amounts to Rs.5000 (for loans upto Rs.25 lakhs), Rs.15,000 (for loans above Rs.25 lakhs to Rs.50 lakhs) and Rs.25,000 (for loans above Rs.50 lakhs).
    • Vastu Siddhi Housing Loan also allows for top up loans, to the tune of a maximum of Rs.25 lakhs, subject to repayment in a maximum of 7 years.
    • Where construction of a brand new house is concerned, the cost of the land to be purchased should not exceed 65% of the total cost of the project. This construction is expected to be completed in a span of 24 months.
    • The Vastu Siddhi Housing Loan can be converted from a fixed interest loan structure to a floating option. The reversal of this is also possible.

    Saraswat Bank Home Loan Interest Rate:

    • Currently, Saraswat Bank charges an interest rate of 11.75% (fixed) and 10.15% (floating) for loans up to Rs.25 lakhs.
    • For loans exceeding the Rs.25 lakhs margin, the interest rate is 12.00% (fixed) and 10.25% (floating).
    • For women, the applicable interest rate is 11.75% (fixed) and 10.15% (floating).
    • Saraswat Bank’s current Prime Lending Rate (PLR) is 14.5% per annum.

    Eligibility and Documentation:

    This loan is available for Salaried Employees and Self-Employed Individuals. The requisite documents that needs to be submitted at the time of loan application are as follows-

    • Completed application form with appended photograph of the applicant.
    • Residence proof of the applicant and the guarantor (if any).
    • Income Proof for Salaried applicants- a) Salary slips for last 3 months, b) Bank statements for last 6 months, c) ITR & form 16 for last 3 years.
    • Income Proof for Self-Employed applicants- a) Profit & loss proof, b) ITR copies and balance sheets for last 3 years, c) last 6 months bank statement.
    • Legal documents to compose the mortgage arrangement as required.

    Saraswat Bank’s Vastu Siddhi Housing Loan is a complete home loan option for the smart investor, and one that is loaded to the brim with customer friendly features and benefits. Coming from a century old bank, the concepts of traditional banking values and modern day conveniences, converge in a perfect mix to offer the best banking experience possible. Go ahead, apply for the Vastu Siddhi Housing Loan and experience the difference.

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