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  • Syndicate Bank Home Loan

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  • Apply for a home loan with Syndicate Bank and choose between different types of housing loan to suit your needs. Avail up to 75% of the project cost for new constructions or purchase a ready built house or flat.

    MCLR 9.40% p.a.
    Loan Amount Up to 90% of the project cost
    Processing Fee Up to Rs.25 lakh: 0.125% of the loan amount (Minimum of Rs.500 and Maximum of Rs.2,500).
    Above Rs.25 lakh to Rs.75 lakh: 0.125% of the loan amount subject to a maximum of Rs.3,250.
    Above Rs.75 lakh: Rs.5,000 flat
    Prepayment Charges Waived for loans up to Rs.50 lakh
    Maximum Tenure Up to 30 years
    Rate Packages Available Floating/Fixed

    Syndicate Bank Home Loan Schemes

    Syndicate Bank offers various types of housing loans catering to different needs of the customers. Below are the types of home loans offered by Syndicate Bank:

    Synd Nivas Home Loan

    Key Highlights:

    • For the purpose of purchasing a plot and constructing a house thereon.
    • For the construction of the house on the plot-already owned by you.
    • For purchase of a ready built flat/house of not more than 25 years old.
    • For purchase of flat to be built by the Society or Builders.
    • For making additions or extensions (vertical or horizontal to the existing house).
    • For the purpose of repair or renovations to your existing house or flat.
    • Balance transfer of your existing home loan availed with a different bank to Syndicate Bank.
    Interest Rate 8.65% p.a.
    Processing Fee Up to Rs.25 lakh: 0.125% of the loan amount subject to a minimum of Rs.500 and a maximum of Rs.2,500.
    Above Rs.25 lakh and up to Rs.75 lakh: 0.125% of the loan amount subject to a maximum of Rs.3,250.
    Above Rs.75 lakh: Rs.5,000 flat.

    Synd Nivas Plus Home Loan

    Key Highlights:

    • To meet any business or personal credit requirement.
    • Offered to housing loan customers of the bank with a satisfactory repayment record of two years or more.
    • The loan amount is the value of the property at the time of sanction or present value (whichever is lower) less outstanding home loan subject to a maximum of Rs.3 lakh.
    • Repayment of up to 60 EMIs.
    • No Processing fees.
    Interest Rate 11.90% p.a. (monthly compounding)
    Processing Fee Nil

    Synd Kuteer Home Loan

    Key Highlights:

    • For individual borrowers in EWS/LIG categories and member of a self-help group in rural, urban and metro areas.
    • For the purpose of a residential plot and constructing a house or purchase of new or old houses.
    • For the purpose of constructing a house on already owned plot or land.
    • Loan amount of up to Rs.5 lakh for EWS and up to Rs.10 lakh for LIG.
    • Repayment tenure of up to 30 years or 75 years of age (whichever is earlier).
    Interest Rate 8.65% p.a.
    Processing Fee Nil

    Synd Delight Home Loan

    Key Highlights:

    • For existing housing loan customers.
    • Home loan customers who have a satisfactory repayment record of 3 years or more.
    • The loan amount of up to 20% of the home loan or actual amount extended (whichever is lower), subject to a minimum of Rs.50,000 and maximum of Rs.20 lakh.
    • Repayment period of not more than 84 EMIs.
    Interest Rate 11.5% p.a.
    Processing Fee Rs.500 per lakh

    Synd Vishranthi Home Loan

    Key Highlights:

    • Reverse mortgage loan offered to senior citizens of India who own a house in India.
    • Supplementing income, any house repairs, personal expenses, etc.
    • The loan can be availed as a single or jointly with spouse subject to a maximum of two borrowers.
    • The first borrower’s age should be above 60 years.
    • Life of property should be at least 20 years in case of the single borrower and 25 years in case of the spouse being less than 60 years of age.
    • Loan tenure of a minimum of 10 years and maximum of 15 years or till death of the borrower (s), whichever is earlier.
    • Payments in monthly or quarterly by a credit to savings account in the joint names of borrowers.
    • 20% of the loan amount, with a cap of Rs.15 lakh, can be availed in lumpsum once during the loan tenure.
    • Loan amount of up to 75% of the assessed value of the property with a minimum of Rs.5 lakh and a maximum of Rs.1 crore for the independent house and Rs.50 lakh in case of a flat.
    Interest Rate 12.25% p.a. (fixed)
    Processing Fee 0.50% of the loan amount (maximum of Rs.10,000).

    Syndicate Bank Home Loan EMI Calculator

    Calculate the equated monthly instalments (EMIs) payable towards your home loan using the Syndicate Home Loan EMI calculator. The minimum EMI per lakh stands at Rs.834.

    Enter the required information such as loan amount, interest rate, tenure and the processing fee on the BankBazaar Home Loan EMI Calculator and select ‘Calculate’. You'll be able to view the break-up of the total amount payable and the total interest due as well as the EMIs payable during the loan tenure.

    Syndicate Bank Home Loan Eligibility Criteria

    Salaried

    • Should be a resident of India or Non-resident Indians (NRI) or Hindu Undivided Families.

    • Should be not more than 55 years of age at the time of application for the housing loan.

    Self-Employed

    Documents Required for All Home Loan Applications Under Syndicate Bank

    Below are the details of the documents required to apply for a Syndicate Bank home loan:

    For Salaried:

    • PAN card copy.
    • Proof of address (utility bills, voter ID, Driving License, etc.)
    • Passport copy.
    • Employee ID.
    • Last six-month salary slips.
    • One-year bank statement of account where your salary is being credited.
    • Copies of ITAO and Income Tax Return or Form 16 for the last three years.
    • Previous and present employment information of the applicant along with proof.

    For Self-Employed:

    • PAN card copy.
    • Proof of address (utility bills, voter ID, Driving License, etc.)
    • Passport copy.
    • 1-year statement of accounts.
    • 3 years IT returns with the statement of income.
    • Copies of audited balance sheet or profit and loss account.
    • Proof of business (VAT/GST registration copy, etc.)

    For NRIs/PIOs:

    • Copies of passport or visa.
    • Work permit/appointment order/job contract.
    • Special power of attorney as per bank format duly executed in the presence of the Embassy officials and adjugated in India.
    • Latest three months' salary certificate along with deductions/ITR for 3 years.
    • Savings bank account statement for the last two years.
    • F/C account statement for the last two years.
    • Proof of margin money from NRE/NRO account.
    • A declaration that the flat/house shall be used for own use on upon return to India.
    • A declaration regarding the proposed period of stay abroad to be submitted.

    For Purchase of Plot/Ready Built House:

    • Mother/prior title deeds and documents: Sale deed/partition deed/gift deed/settlement conveyance deed/lease deed (certified copies if the original is not available).
    • Khatha certificate/Record of Rights (RTC) extract from competent authorities.
    • Encumbrance certificate from sub-registrar office.
    • Conversion order, Betterment Tax paid receipt.
    • Approved plan and license/blueprint and commencement certificate issued by the competent authority.
    • Latest land/building tax paid receipt.
    • Detailed estimation of the cost the property from a Licensed Engineer in case of construction, repairs or renovation.
    • Original sale agreement duly stamped.

    For Purchase of Flats from Developers:

    • All documents related to the ownership of the property (sale deed, sale agreement, ECs, Power of Attorney, Khatha extract, etc., approved plan given by the developer.
    • Copy of the agreement between you and the builder/developer.
    • NOC from the financing bank for the release of their charge on the flat.
    • The tripartite agreement between builder/bank/applicant wherever necessary.

    For Plots Allotted by Development Authority:

    • Allotment letter issued by the Development Authority.
    • Approved Plan and license or blue print and commencement certificate.
    • Estimation from the licensed engineer.
    • Latest land/building tax paid receipt.
    • Absolute deed and or conditional auction/sale, lease-cum-sale/sale deed by the Development Authority.
    • Layout plan copy.
    • Encumbrance certificate from the date of allotment or for the last 13 years (whichever is later).
    • Possession certificate issued by the Development Authority.
    • NOC from Development Authority to mortgage the property in the bank’s favour.

    For Takeover or Balance Transfer from Other Financial Institutions:

    • Presently applicable only for salaried class.
    • For self-employed class, RO permission to be obtained.
    • Spouse’s income, who is an income tax payee alone can be accepted.
    • Copy of the sanction letter and home loan account statement since the start.
    • NOC from the financial institution mentioning the account is regular, balance outstanding as on date, closure and other charges (if any) and their willingness to hand over the documents to Syndicate Bank if the amount is paid in full as well as documents held.
    • Copies of the property title deeds along with the latest tax paid receipt, Khatha extract, and certificate and the most recent encumbrance certificate (minimum of 13 years).

    Syndicate Bank Home Loan FAQs

    1. What are the types of home loans offered by Syndicate Bank?
    2. Syndicate Bank offers home loans through its retail banking channel as well as through its agricultural banking channel. While it offers Synd Nivas, Synd Nivas Plus and Synd Kuteer, it also offers Synd Delight and Synd Vishranthi as a top-up loan for its existing customers through its retail banking channel. Through its agricultural banking channel, it offers Syndicate Farmhouse Scheme and loan for buying agricultural land.

    3. What’s the maximum loan amount offered by Syndicate Bank?
    4. Through its Synd Nivas loan scheme, the bank offers a maximum loan amount of 72 months of your gross salary, while through its Synd Nivas Plus it offers a to the value of the property at the time of the sanction of the loan or the present value (whichever is lower) less the outstanding loan amount subject to a maximum of Rs.3 lakh. Under its Synd Kuteer home loan scheme it offers a maximum loan amount of Rs.10 lakh.

    5. What’s the maximum repayment tenure offered by Syndicate Bank?
    6. The maximum repayment period differs between the types of loan schemes offered by the bank. While through its Synd Nivas loan scheme it offers a maximum loan tenure of up to 30 years or up to the age of 75 years, the maximum loan tenure offered through its Synd Nivas Plus is up to 5 years and the maximum loan tenure through its Synd Kuteer loan scheme is up to 30 years or up to the age of 75 years, whichever is earlier.

    7. Who are eligible for a Syndicate Bank home loan?
    8. Salaried, self-employed, as well as Non-Resident Indians (NRIs), are eligible to apply for a housing loan through Syndicate Bank which is extended through its retail banking channel.

    9. What type of MCLR does Syndicate Bank offer its housing loan?
    10. Syndicate Bank offers its home loan based on the One-Year MCLR, which is currently at 8.65% p.a.

      

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    Syndicate Bank Home Loan Reviews

    • Syndicate Bank Home Loan
      "Need scope of improvement"
      0.5 3.0/5 "Satisfactory"
      Syndicate bank took some long time to complete my home loan process, I had visited twice to the bank to complete the paper work. They released the money based on the property construction. The bank staffs need more attentive interms of process, the rate of interest is quite nominal and its a reducing one. I have chosen this loan for 20 years of duration.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 19, 2019
    • Syndicate Bank
      Syndicate Bank Home Loan
      "Excellent Loan service"
      0.5 5.0/5 "Blown Away!"
      Syndicate bank response is fine. Their interest rates are reasonable. My salary is credited into syndicate bank in the manipal branch hence i have taken the home loan from same bank. They have sanctioned the loan amount of Rs. 20 lakhs and they took 7 days to credit the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 14, 2019
    • Syndicate Bank Home Loan
      "Best experience with reasonable interest"
      0.5 4.0/5 "Great!"
      Directly I approached Syndicate bank at mangalore, they processed the home loan on time. In 2015 there was a manage he is proactive interms of helping the people hence within 2 days the home loan got approved. I took Rs. 10 lakhs for the duration of 15 years, the rate of interest was around 8% for per annum.
      Was this review helpful? 0
      , thane
      Reviewed on Aug 06, 2019
    • Syndicate Bank Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with SYNDICATE bank for just 4 months before which was processed directly to bank. They have sanctioned the loan within 8 days. The loan amount was sufficient for the tenure of 20 years. I am happy for the rate of interest which was given from while compare to other it is low.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 05, 2019
    • Syndicate Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My experience is so good for syndicate bank personal loan I take three lack fifteen thousand;for ten years tenure but I want to close withing two ya three years and rate of interest is nominal I am satisfied loan amount ; Customer service provide is good and response at a time . I am happy with syndicate bank .
      Was this review helpful? 4
      , vadodara
      Reviewed on Mar 13, 2019
    • Syndicate Bank Home Loan
      "Very Good bank for home loan"
      0.5 5.0/5 "Blown Away!"
      I have applied the loan amount in 2012 and the same year i have closed the loan without any pre-closure charges. They have offered me a loan amount of Rs. 12 years and they have offered me a interest rate of 8.95% and the processing fee of Rs./ 1000. The documentation process is very easy.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jan 04, 2019
    • Syndicate Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Syndicate bank and my experience was good, the loan amount was for Rs 12 lacs with nominal interest rate when compared to others. I received my loan amount on time and the customer service was very good. The tenure period for this loan is 10 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 24, 2018
    • Syndicate Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan was taken from SYNDICATE BANK1 year back. The loan amount was 6 lakhs and the interest rate was satisfactory . The customer service and responses was good. There is no processing fee and they have delayed the process also. There are also no pre closer charges here.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 07, 2018
    • Syndicate Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with Syndicate bank and my loan experience was good, the loan amount was for Rs 10 lakhs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. The tenure period for this loan is 15 years.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 07, 2018
    • Syndicate Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      My home loan is with Syndicate bank and it was done manually. If I want the certificate for tax, I need to visit the bank and get the same I am unable to do it online. The process for the home loan was good and the rate of interest and processing charges are normal.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 16, 2018
    • Syndicate Bank Home Loan
      "Its Best"
      0.5 4.0/5 "Great!"
      I have taken Home loan on my spouse name, they offered me 90% of loan. Because we have joint account with them, they gave me normal interest with floating rate. I have taken 18 lakhs it has the tenure of 25 years. EMI amount and due date is convenient. But for 20 months, they taken Rs. 2 lakhs of interest, from next month onward EMI gets started.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 13, 2017
    • Syndicate Bank Home Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I took a home loan from SYNDICATE Bank 3 years ago. SYNDICATE Bank disbursed my home loan within 5 days which is very quick. The total tenure of the home loan is 15 years. They offered me the loan for 10.2% as rate of interest which was very cheapest. The total processing is quick. But they need to improve in their services and technologies like net banking mobile banking etc.
      Was this review helpful? 4
      , coimbatore
      Reviewed on Oct 06, 2017
    • Syndicate Bank Home Loan
      "Convenient banking"
      0.5 4.0/5 "Great!"
      Syndicate Bank has offered me a home loan as well and the bank is great to use. They have simple documentation requirement and there is no delay in getting updates. The disbursement is satisfactory and the after loan services are also good and on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 30, 2017
    • Syndicate Bank Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I purchased the property through direct owner, he had a home loan with Syndicate, Hence it was transfered to me. My loan amount was Rs.11 lakhs for the tenure of 15 years but I am suppose to pay for 10 years. I am making the payment by ECS options without any hassles.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 30, 2017
    • Syndicate Bank Home Loan
      "Good one"
      0.5 4.0/5 "Great!"
      I got the home loan with the Syndicate bank and the interest rate was around 9.7% as fixed one but as of now , I have requested them to reduce the interest rate, also they are going to make it reduce. The loan amount got disbursed to my account within a week of time.
      Was this review helpful? 3
      , vijayawada
      Reviewed on Mar 21, 2017
    • Syndicate Bank Home Loan
      "Not Satisfactory"
      0.5 2.5/5 "Just OK"
      I had been a customer of Syndicate Bank for ten years now for a home loan. The process for this loan initially was on time, but the after loan services has not been that satisfactory as the bank is not willing to revise my interest rate unlike other banks.
      Was this review helpful? 4
      , thiruvananthapuram
      Reviewed on Mar 06, 2017
    • Syndicate Bank Home Loan
      "fast an easy access to get the home loan"
      0.5 3.5/5 "Pretty good"
      Response time and work procedure are the two distinct features of Syndicate bank . Processing of the home loan was done within 5-7 working days. Comparatively to all the banks in the market they are offering 9.65% interest rate. They charged technical charge for the site Rs.4000 which is fixed and legal documentation charges of Rs.4000.Pre closure and processing fee are zero.
      Was this review helpful? 2
      , visakhapatnam
      Reviewed on Jun 01, 2016
    • Syndicate Bank Home Loan
      "Amazing bank!"
      0.5 5.0/5 "Blown Away!"
      Syndicate bank executives are very much friendly with their customers and taking a great care of them. Their banking services are amazing. They took the documents from my end and processed the home loan within 15 days. Once I visited the branch and signed the papers, the loan was disbursed without any hassles.
      Was this review helpful? 3
      , pune
      Reviewed on Jan 23, 2016
    • Syndicate Bank Home Loan
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I have got the housing loan with the Syndicate bank before two years of time and I have submitted the relevant documents from my end to them, then I got the loan within a week of time. They have provided me with the capital of 5 lakh Rupees and I need to pay it for seven years of time. EMI will be deducted on time.
      Was this review helpful? 1
      , tiruchirapalli
      Reviewed on Dec 28, 2015
    • Syndicate Bank Home Loan
      "Good loan processing!!!"
      0.5 4.0/5 "Great!"
      Syndicate bank, it is very good in terms of home loan. They have a very good customer service. Interest rate is marginally high still it is okay for me. It is floating interest rate with nominal charges. Within 10 days they have processed my loan. Documents was very simple ans fantastic. It was customized banking and it was very smooth process.
      Was this review helpful? 1
      , surat
      Reviewed on Nov 30, 2015
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