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

    • 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? 0
      , 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? 2
      , 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? 1
      , 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? 1
      , 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
    • Syndicate Bank Home Loan
      "Excellent.."
      0.5 5.0/5 "Blown Away!"
      Suppose customer have all the documents clearly the process would be very fast with Syndicate bank. From the time of documentation, the home loan disbursement happened in a month but other banks would take atleast 3 months. For me the particular executive explained everything very clearly and the interest rate is 8% for the home loan.
      Was this review helpful? 1
      , jodhpur
      Reviewed on Sep 18, 2015
    • Syndicate Bank Home Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from syndicate bank. Within 1 week they disbursed the loan with the interest rate of 10.25% and processing fee was minimal charge. I was having the up to date documents so the process went on very smooth.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 28, 2015
    • Syndicate Bank Home Loan
      "Need to improve the system stabilization"
      0.5 4.0/5 "Great!"
      I have taken my home loan from Syndicate Bank. The service are average from them. They need to improve their system of working. They are not customer friendly. The process for the loan went smooth, as I know the people working there. The rate of interest offered was of 10.25% (fixed). The processing charges was of 3K. The total tenure is for 25 years.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 06, 2015
    • Syndicate Bank Home Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have recently applied for a home loan with Syndicate bank and the service provided was really good.The interest rate offered was around 11% and I am happy about the same.They have not collected any fees for processing this loan and I will surely recommend Syndicate bank to others for getting a loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 08, 2015
    • Syndicate Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the ongoing home loan with Syndicate bank.The rate of interest 10.25% as around.I am happy with their services .They provided me with the luxury time and there is no skip of with them.The provincial documents took such elongated documents.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 27, 2015
    • Syndicate Bank Home Loan
      "Its good"
      0.5 4.0/5 "Great!"
      Syndicate bank housing loan process is good. It is very easy to approach them . I did not face any issues with them as such. One good thing about Syndicate bank is it is near to my place and that is why I have chosen this. It is very easy to approach. Interest rate offered by them was okay which is 10.15% and processing fee is nil.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 01, 2015
    • Syndicate Bank Home Loan
      "WORST SERVICE EVER EXPERIENCED!!"
      0.5 2.0/5 "Expected more"
      Don't go with syndicate bank for any loan. Its a very irritating experience i felt during documentation process. You have to visit bank on daily basis. They will not pick phone and even not reply through mail. I am still facing the same issue while disbursement of loan installment.
      Was this review helpful? 8
      , new delhi
      Reviewed on May 04, 2015
    • Syndicate Bank Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Syndicate bank has provided the fastest housing loan service. We will get an idea through Syndicate bank, how things needs to be sorted out quickly . For example, other banks were insisting me to pay about 20% of the down payment amount upfront, to get in to an agreement, frankly speaking it was not possible for me to make the down payment. At that point of time, Syndicate bank came up with an excellent option of providing a personal loan for 9 lakhs within a span of 3 days. In the next 15 days they were able to provide the housing loan. They were able to provide the loan up to 75 years and the processing fee charged by them was nil.,
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 09, 2015
    • Syndicate Bank Home Loan
      "Pleasant process!!"
      0.5 4.0/5 "Great!"
      Since I had a existing account with Syndicate bank, It was easier to avail home loan. Overall process is pleasant however it 2 weeks of time. Interest rate is 10.25% and I have partial payment option with no charges. Even no processing charges till the end of the tenure.
      Was this review helpful? 5
      , bangalore
      Reviewed on Feb 04, 2015
    • Syndicate Bank Home Loan
      "Competitive rate!!!"
      0.5 5.0/5 "Blown Away!"
      I have chosen 16 years of tenure for home loan and the rate of interest is normal in Syndicate bank as it is 10.25%. I was bit upset during documentation process as they made me to run behind bank for a month however apart from this everything was fine. Bank people did not charge any thing extra for processing charge.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 05, 2015
    • Syndicate Bank Home Loan
      "Having inspection charges in thousands"
      0.5 1.0/5 "Really Bad"
      Interest rate is pretty high, collecting inspection charges @1000/- semi annually not mentioned before, average documentation charges, internet banking facility is worst, charges for every service provided, run to branch for every task.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Dec 30, 2014
    • Syndicate Bank Home Loan
      "Expect fast response!"
      0.5 4.0/5 "Great!"
      One of the disadvantage with Syndicate bank is the follow ups, payments or whatever I have to keep on following up. Important point which needs to be considered is responding to the customers, if its been on a regular basis, it would be fine. It would be better if the response and follow up can be more faster. Other than that, home loan disbursal was all good.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 15, 2014
    • Syndicate Bank Home Loan
      "Moderate"
      0.5 3.0/5 "Satisfactory"
      Customer service is satisfactory with Syndicate bank but the rate of interest and processing fee is high, if we do comparison with other banks. Syndicate bank is charging 10.5% if interest particularly for home loan. I requested them to change my EMI date as my salary date is 7th but they are deducting in 5th date. If I want to change home loan with other banks, I have to undergo several formalities so I not yet been transferred the home loan.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Nov 09, 2014
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    Syndicate Bank Home Loan is Rated as "Great!" by 22 Users

    Fees & Charges

    Promised Interest Rate

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    Home Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 22 users

    Syndicate Bank is one of the oldest and major commercial banks of India. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the Government of India. The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition.Syndicate bank makes your dream of owning a home come true by giving housing loan under SyndNivas scheme. For construction/acquisition of a house/flat or for acquiring a site and building a house thereon.For acquiring a new house or existing house not more than 20 years old.For making extensions/additions to existing house. For NRIs , loan available for acquisition of house for self-occupation on return to India.For acquisition of furniture/fixtures including air conditioners, geysers, fridge, cots,tables, sofas etc which form part of improvements to the home purchased or constructed out of the Housing Loan not exceeding of 10% total cost of the project,may be included.Take over of existing Housing loan from other banks/financial institutions in the case of salaried class are permitted.Continue reading to view more details about this loan.


     

    You’re probably eligible for an Syndicate Bank Home Loan if you are

    01
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    Syndicate Bank Home Loan Minimum Age

    At least 21 years old

    Syndicate Bank Home Loan Maximum Age

    Less than 55 years old

    Syndicate Bank Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Syndicate Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your Syndicate Bank Home Loan amount eligibility is based on these factors

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    02
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    Syndicate Bank Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Syndicate Bank Home Loan Maximum Loan to property value

    Loan capped @ 75% or 90% of project cost

    Syndicate Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Syndicate Bank Home Loan amount by these steps

    01
    02
    03
    Syndicate Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Syndicate Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    Syndicate Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Syndicate Bank Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee Cheque
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    Syndicate Bank Home Loan Interest RatesUpdated on 22 Aug 2017

    Syndicate Bank Home Loan Details
    Interest Rate 8.75%
    Loan Tenure 30 years
    Guarantor Requirement Nil
    Pre-closure Charges Nil

     

    Syndicate Bank Home Loan

    Home loans have been, for decades, one of the most popular methods of home financing. They have served millions of people by helping them realize their dream of owning a house. Syndicate Bank, like various other banks, offers multiple options under the home loan category.

    Syndicate Bank home loans have been designed to suit varied needs of customers who may be looking to either purchase a new / existing house/flat, purchase a plot in order to construct a house or wish to take over an existing home loan. The home loans offered by Syndicate Bank include SyndNivas, SyndKuteer and SyndNivas Plus.

    Perfect Home Loan Deals for you

    Features of Syndicate Bank Home Loans:

    Different home loans by Syndicate Bank are accompanied by a distinct set of features which address different home financing needs of individuals.

    SyndNivas Housing Loan Scheme:

    Purpose:

    • For purchase of a plot for construction thereon (subject to conditions).

    • For acquiring a house site for construction.

    • For construction of a house on land that is already owned by the concerned party or held on lease for a period of 50 years or more.

    • For purchase of an existing house (must not be older than 25 years).

    • To purchase a flat constructed by a society or builder.

    • Make extensions to an existing house.

    • For repairs/renovation to an existing house/flat.

    • To takeover an existing loan taken with another bank/financial institution.

    Quantum of Loan:

    • 80% to 90% of the total cost of construction (for new construction or purchase of an already constructed flat); 70% of total cost for existing houses (not more than 5 years old).

    • Salaried applicants – Gross salary of 72 months (6 years).

    • Non-salaried applicants – 6x the average of 3 years.

    Margin:

    For loans up to Rs 20 lakh, borrower must bear 10% of the cost; for loans above Rs 20 lakh and up to Rs 75 lakh, borrower must bear 20% of the cost; for loans above Rs 75 lakh, borrower bears 25% of the cost.

    Repayment:

    Maximum repayment tenure allowed on this loan is 30 years or till the applicant turns 75, whichever occurs earlier.

    SyndKuteer Housing Loan Scheme:

    Purpose:

    • To acquire a residential site for the construction of a house.

    • Construction of a house on a pre-owned plot.

    • To acquire/purchase a new/old residential unit.

    Quantum of Loan:

    Maximum quantum of loan for applicants belonging to EWS (economically weaker sections) – Up to Rs 5 lakh; for applicants belonging to LIG (lower income groups) – Up to Rs 10 lakh.

    Margin:

    Borrower’s margin is fixed at 10%.

    Repayment:

    Maximum repayment tenure must not exceed 30 years or 75 years of borrower’s age.

    SyndNivas Plus Housing Loan Scheme:

    Purpose:

    To meet any personal/business credit need.

    Quantum of Loan:

    Maximum quantum of this loan extends to the current value of the property or value at the time of sanction minus the remaining home loan balance, subject to a maximum of Rs 3 lakh.

    Repayment:

    Extends for a maximum tenure of 60 EMIs.

    Syndicate Bank Home Loan Eligibility:

    SyndNivas:

    All resident Indians, NRIs holding an Indian passport, person of Indian origin, pensioners, Hindu Undivided Families are eligible to apply for this loan.

    SyndKuteer:

    This loan is open to individual borrowers belonging to the Economically Weaker Sections (EWS)*/Lower Income Groups (LIG) ** and members of self-help groups from metro, urban and rural areas. (Subject to conditions).

    SyndNivas Plus:

    This loan is open to all housing loan customers who hold a satisfactory repayment record for 2 or more years.

    Syndicate Bank Home Loan Interest Rate:

    Syndicate Bank currently offers the lowest interest rates on its home loans in over 25 years. Customers can now avail of interest rates as low as 9.55% on their floating rate Synd Nivas loans. This is based on the 1-year MCLR, which is the benchmark for home loans. This rate is applicable on home loans of all tenures up to a maximum period of 25 years. The Synd Nivas Plus scheme comes at a rate of MCLR plus 3.25% spread, which currently tallies to 12.8%. The base rate, which is applicable for loans taken before April 1, 2016, is 9.6%.

    Syndicate Bank MCLR Rates:

    The loan interest rates are directly linked to Marginal Cost of Funds-Based Lending Rate (MCLR) as per RBI directive, rom April 1, 2016. The latest MCLRs announced by Syndicate Bank on July 11, are given in the table below:

    Loan Tenor MCLR
    Overnight 9.4%
    1 month 9.45%
    3 months 9.45%
    6 months 9.5%
    1 year 9.55%

    Syndicate Bank Home Loan FAQs:

    1. Do I need to provide anything by way of security against my Syndicate Bank home loan?

      As security against your Syndicate Bank home loan, you are required to provide the mortgage of the house/flat/plot to be constructed / purchased.

    2. Are there any prepayment charges levied on foreclosure of the SyndNivas home loan?

      No, all pre-payment charges applicable on the SyndNivas home loan have been waived.

    3. Do I need to provide a guarantor if I wish to take a Syndicate Bank home loan?

      For the SyndNivas home loan, you need not provide any guarantor in order to apply for the loan; for the SyndKuteer home loan, requirement of a third party guarantee has been waived by the bank.

    News About Syndicate Bank Home Loan

    • Syndicate Bank MCLR Brought Down, Base Rate At 9.6%

      Syndicate Bank has cut down its Marginal Cost of Funds-based Lending Rate (MCLR) and base rate. The base rate now stands at 9.6%, down 10 basis points (bps), compared with State Bank of India’s current base rate of 9.3% and IndusInd Bank’s rate of 10.6%.

      The new MCLR rates applicable are: 9.55% for 1 year, 9.5% for 6 months, 9.45% for 3 months as well as 1 month, and 9.4% for overnight. The bank will also add a “strategic premium” of 25 bps to the MCLR on certain retail loans.

      The MCLR system, brought into effect by the RBI from April 1, 2016, forces banks to review their interest rates regularly and pass on the repo rate cuts instituted by the central bank.

      27th July 2016

       
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