A "low interest" loan shouldn't mean you have very little interest in paying it back!

    Vijaya Bank Home Loan Reviews

    Common Loader Icon

    Vijaya Bank Home Loan is Rated as "Excellent!" by 20 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. The objective of the founders was essentially to promote banking habit, thrift and entrepreneurship among the farming community of Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958. Vijaya Bank offers a bouquet of innovative and attractive products and services to the customers. Vijaya bank provide Home loans for construction / acquiring of new or existing house/flat , extension in the existing house/flat, repairs/renovation/alteration of existing house/flat. Continue reading to view more details about this loan.


     

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

    01
    02
    03
    04
    Vijaya Bank Home Loan Minimum Age

    At least 21 years old

    Vijaya Bank Home Loan Maximum Age

    Less than 65 years old

    Vijaya Bank Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Vijaya Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


     

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

    01
    02
    03
    Vijaya Bank Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Vijaya Bank Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    Vijaya Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Vijaya Bank Home Loan amount by these steps

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

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

    Vijaya Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Vijaya Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Vijaya 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

     

    Vijaya Bank Home Loan Interest RatesUpdated on 30 Sep 2016

    Vijaya Bank Home Loan Details
    Interest Rate 9.65 %
    Loan Tenure 30 years
    Pre-closure Charges Nil

     

    Vijaya Bank Home Loan Overview:

    Everybody has a dream - for many of us, it is to own a home, own our own space and not having to worry about clamorous landlords. Buying a home is a financial achievement in itself and has now become a status symbol. With rising property prices, taking a home loan is the easiest way to getting closer to your dream of buying a home. A home loan will comfortably finance your property purchase and you can pay back the amount in comfortable EMIs over a suitable tenure.

    Vijaya Bank home loan comes with a host of flexible options and features that benefit the borrowers. With affordable interest rates and quick disbursal process, Vijaya Bank will offer efficient and effective services to help you realize the dream of buying a home without any hassles.

    Vijaya Bank Home Loan Eligibility and Documentation:

    Eligibility:

    • Applicants should be aged between 21 years and 65 years.
    • The applicant’s age should be not more than 75 years by which the loan should be repaid fully.

    Documentation:

    Having all the necessary documents in place will ensure a quick loan application processing. Generally, applicants will be asked to submit an identity proof, a proof of address, income documents and other property-related documents. Keep the following documents ready.

    • Duly filled loan application form
    • Recent passport size photographs
    • Identity proof – Voter ID, driving license, PAN card or passport
    • Proof of residence – latest copies of utility bill payments like electricity bill or telephone bill
    • Salaried applicants must submit bank account statements, certificate of employment, form 16, IT return statements and salary certificate
    • Personal assets and liabilities statements

    Additional documents might be asked for depending on the applicant’s type of income and employment. Do enquire with Vijaya Bank for an exhaustive list of documents required before proceeding with the application process.

    Vijaya Bank Home Loan Interest Rate:

    Vijaya Bank offers customers some of the most attractive and competitive rates of interest on their home loans in comparison with the rest of the industry. Customers can avail of interest rates of 9.65% on their home loans, which apply to all loan tenures on offer by the bank.

    The home loan interest rates offered by Vijaya Bank are as follows:

    Loan Tenor Loan Amount Interest Rate
    Up To 10 Years Up To Rs 30 Lakhs 9.65%
    Up To 10 Years Rs 30 Lakhs - Rs 75 Lakhs 9.65%
    Up To 10 Years More Than Rs 75 Lakhs 9.65%
    Loan Tenor Loan Amount Interest Rate
    10 - 20 Years Up To Rs 30 Lakhs 9.65%
    10 - 20 Years Rs 30 Lakhs - Rs 75 Lakhs 9.65%
    10 - 20 Years More Than Rs 75 Lakhs 9.65%

    Vijaya Bank MCLR Rates For Home Loans:

    According to the guidelines set by the RBI, Vijaya Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) rates with effect from April 1st 2016. The new MCLR rates will apply to all rupee loans as well as credit limit renewals that have been approved by the bank since the 1st of April 2016.

    The MCLR Rates set by Vijaya Bank are as follows:

    Loan Tenor MCLR Rate
    Overnight 9.20%
    1 Month 9.25%
    3 Months 9.35%
    6 Months 9.40%
    1 Year 9.45%
    2 Years 9.50%
    3 Years 9.55%

    Vijaya Bank Home Loans EMI Calculator:

    A home loan is a huge financial responsibility and you must ensure that you are monetarily prepared to face it. To assess your financial affordability, you can make use of an online home loan EMI calculator . The calculator will project details like EMI, repayment schedule and information about amortization at the click of a button. Follow the easy steps given below to calculate the EMI for your home loan.

    • Visit BankBazaar.com homepage and select “Home Loan EMI Calculator” from the finance tools option in the top pane.
    • Use the slider to enter your loan amount, tenure, interest rate and processing fee as a % of loan amount.
    • If you are planning to make pre-payments, choose “Yes” and fill in details like the pre-payment frequency, amount and fee to see how it affects the repayment schedule.
    • Click calculate to instantly find your monthly home loan EMI. The calculator will also project the break-up of all amount payable like total interest due.
    • The yearly and monthly amortization details will also be displayed.
    • You can use this data to make informed decisions about the loan. You can keep varying the parameters using the slider to arrive at a comfortable EMI value.

    Features of Vijaya Bank Home Loan:

    • Multi-purpose:

      Vijaya bank home loan can be utilized for the purchase or construction of a flat or a house & renovation or improvement of a property.

    • Takeover of Housing Loans from other Banks:

      Vijaya Bank also allows takeover of home loans from other finance companies and other banks and offers loan for the purchase of a plot or site and construction of home after that.

    • High Loan Quantum:

      Applicants are offered a high quantum of loan as per their requirements and borrowers can also add the income of children or spouse, depreciation, expected rent from property and income from other sources to increase loan eligibility.

    • Flexible Repayment Terms:

      Customers can choose a comfortable repayment tenure of up to 30 years.

    Why Apply on BankBazaar?

    Here are some of the solid advantages that you get by applying for a home loan on BankBazaar.

    • Save your Valuable Time:

      Applying for a home loan can become a time-consuming process if you have to hop from a bank to another collecting information about interest rates, fees and charges. At BankBazaar.com, we have all the necessary information about the best home loan products so you don’t have to waste your time searching for information.

    • Shortlist the Best Option Easily:

      With BankBazaar, you can compare all available home loan option to see which features benefit you the most and which offer will be the best. You can shortlist favourite options to make your future searches easier. What more – BankBazaar also helps you zero-in the best loan option, all you have to do is fill in a simple questionnaire and voila! You will have the most suitable loan options available in front of you.

    • Instant e-Approvals and Quotes:

      You can instantly apply for a home loan from the comfort of your home. Get instant rate quotes and e-approvals, all you have to do is just fill in some basic information. We will pass on your application to the bank and the take the application process a step further.

    • Make Informed Decisions:

      Got a thousand questions and queries about the general home loan process and conditions? All you have to do is visit the home loans page at BankBazaar, we have comprehensive details about everything related to home loans.

    How to Apply for Vijaya Bank Home Loans on BankBazaar?

    You can apply for Vijaya Bank home loans from the comfort of your home at the single click of a button through BankBazaar. Just follow the below given simple steps to apply for a home loan through BankBazaar.

    • On BankBazaar.com homepage, choose “Loans” from the top menu bar.
    • Select “Home Loans” from the drop down menu and also click on “Vijaya Bank Home Loans” from the menu that is being displayed adjacently.
    • Ýou can check if you are eligible for home loans from Vijaya Bank on the page that is being displayed. In addition to this, you can also check the loan quantum that will be offered to you.
    • Simply click on the “Apply Now” button to get the application process started. In the form that is being displayed, fill in a few details and click submit.
    • After you are done submitting the application form, you will receive an e-approval from us. You can also track your application through SMS and email notifications and also with the application number by logging in.
    • Your application will be sent to the bank for further processing and a representative from Vijaya Bank will call you regarding the loan process.

    FAQs:

    1. What is the maximum home loan amount that will be provided by Vijaya Bank?

      There is no cap on the maximum loan amount. However, the quantum of loan will be decided based on the applicant’s repayment capacity and requirements.

    2. What is the margin for Vijaya Bank Home Loans?

      For loans up to Rs.75 lakhs, the loan margin is 20% and for loans exceeding Rs.75 lakhs, the margin is 25%. The project cost does not include stamp duty and registration charges.

    3. Is there any moratorium period or repayment holiday for home loans?

      Yes. A maximum tenure of 18 months is offered as moratorium or repayment holiday for home loans.

    4. Should I submit any security while availing the home loan?

      Yes. Mortgage of flat or house that is being bought or constructed by Vijaya Bank home loan finance is required as security.

    5. How is the quantum of loan amount assessed?

      Up to 75 months the gross annual income of the borrower is the maximum loan amount that is offered. This is also dependent on the applicant’s take home income and minimum margin requirements.

    reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.