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

    • Vijaya Bank Home Loan
      "not good"
      0.5 2.0/5 "Expected more"
      It was a real bad experience i had with VIJAYA BANK .i took loan on 2016 last year and they provided me the rate of interest of 9.56% and they gave me processing fee of 0.5% i was really unhappy with this . as i was in a urgency and did not had any other option i took the loan . really the customer is also very bad .
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 21, 2017
    • Vijaya Bank Home Loan
      "All went good with Vijaya Bank"
      0.5 5.0/5 "Blown Away!"
      All went good with Vijaya bank when I took the housing loan its an ongoing loan. I don't get any intimation where there would be a fall in the rates. I am getting statements from them on time no issues with them absolutely and I am very much happy with the rates too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 24, 2017
    • Vijaya Bank Home Loan
      "Customer friendly service"
      0.5 5.0/5 "Blown Away!"
      Vijaya bank is very quick in their process and they have done my home loan process within the promised time. The branch manager also helped me a lot in concern to home loan application, They took my requirement personally and gave the very good service. I got the best Interest rate in the in the market. I am happy about the loan amount. The Vijaya bank service has been satisfied me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2017
    • Vijaya Bank Home Loan
      "Common bank in karnatka"
      0.5 4.0/5 "Great!"
      At my home town branch the service provided by Vijaya bank was really good.They process home loan application in a simple manner.The delay happened but it was from my end and not bank.I remember they didnt apply any processing fee for the application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 15, 2016
    • Vijaya Bank Home Loan
      "Fantastic..."
      0.5 5.0/5 "Blown Away!"
      The manager came my house to assist for the home loan and they work even in holidays. I asked for three lakhs but they ready to sanction ten lakhs. Interest rate is something 9% for home loan. No extra charges been deducted. Vijaya bank is helping so many people by giving loans. Though I completed the loan they give good response when I go to the branch.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 01, 2016
    • Vijaya Bank Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      Vijaya bank is the government organization bank so they have many documents required to sanction the home loan they took 5 month but the demanded amount was not given. Interest rate offered was 9.50% which has been more than year but it is flexible rate.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 09, 2016
    • Vijaya Bank Home Loan
      "Very good and reliable friend "
      0.5 4.0/5 "Great!"
      The loan process was very good.They are processing the loan in a very clear manner.The executive are very clear about the loan process.The documents required was quite simple to process.The interest rate applied was also quite less with vijaya bank
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 09, 2016
    • Vijaya Bank Home Loan
      "Good rate of interest"
      0.5 3.0/5 "Satisfactory"
      The rate of interest provided by Vijaya Bank in regards to Housing loan is very good compared to other banks. Everybody should be aware of the fact that they provide loan only for cost of the property and not for the construction cost. They were very helpful for the documentation process and it only took 4 days for the processing.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2015
    • Vijaya Bank Home Loan
      "Satisfied..."
      0.5 4.0/5 "Great!"
      I have good credit history with the Vijaya bank and the mangers are very helpful for me. Employees in the lower level are not responding properly. I got the home loan for 6lakhs but they deducted 2600, which is heavy as it is 2.5%. Rate of interest is 13.5%.
      Was this review helpful? 0
      , vellore
      Reviewed on Oct 24, 2015
    • Vijaya Bank Home Loan
      "Not Completed "
      0.5 4.0/5 "Great!"
      My Home loan was taken from VIJAYA bank quite long back. But due to some personal issues I have not continued this loan with them. Also I sold my house to some other person where he has started paying the monthly EMI. Other than this there was no issues with the bank.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 22, 2015
    • Vijaya Bank Home Loan
      "Happy going "
      0.5 4.0/5 "Great!"
      I have taken my home loan from VIJAYA bank for the tenure of 20 years. Mr. Shetty is the bank manager who helped me a lot in processing this application. Since it is an nationalized bank they do not have online services. The customer service team are very much supportive.
      Was this review helpful? 4
      , mumbai
      Reviewed on Aug 26, 2015
    • Vijaya Bank Home Loan
      "My Bank..."
      0.5 5.0/5 "Blown Away!"
      It is nationalized bank and I already have a current account with them. I took a home loan from vijaya bank. It was a good experience. I got a nominal rate of interest. They take care of everything. The bank people are really helpful. I got my loan in just 15 days. They provide good services.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 08, 2015
    • Vijaya Bank Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      I got the home loan with the Vijaya bank.The rate of interest was around 9.50% and its floating.The services are good with them.The processing charges are the average one.Their responsiveness and the continuous follow up was not there and they need to improve over there.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 10, 2015
    • Vijaya Bank Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have taken my home loan from Vijaya Bank only because I got a lower rate of interest, that was the only advantage of the bank.They need improvement on their customer service to the customers. I got my loan from Vijaya bank within four days of time.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jun 09, 2015
    • Vijaya Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a home loan from Vijaya Bank 10 years Bank. The services were good at that time as I knew many people form the Bank. But recently when I visited the bank the the services are not that good and they are not cooperative as before.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 17, 2015
    • Vijaya Bank Home Loan
      "Really a good one"
      0.5 5.0/5 "Blown Away!"
      Vijaya Bank housing loan experience is really good. Whenever I visit the Branch they offer personalized service. No matter what doubts I have got, they will clarify within a short span of time on the spot. I got the interest certificate for filing the IT returns as well. The processing fee charged by them was hardly rs 3000.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 06, 2015
    • Vijaya Bank Home Loan
      "Must improve staff support"
      0.5 5.0/5 "Blown Away!"
      Got my home loan from Vijaja Bank and nothing really special about there services. One of my colleague who is working there but in a different location actually referred me to this bank. But their services are very slow. I visited almost three to four branch and found very less staffs working there and this could be one of the main reason for the slow loan process. However their staffs were polite and sincere.
      Was this review helpful? 1
      , delhi
      Reviewed on Mar 23, 2015
    • Vijaya Bank Home Loan
      "Great"
      0.5 5.0/5 "Blown Away!"
      I was holding a Vijaya bank housing loan. The loan was cleared within 6 years. Interest rate offered by them was the best in the market at that point of time. There was no preclosure charges as well. I have repaid the complete loan amount they took hardly 4 days of time to close this loan and also I have got all documents pertaining to closure.
      Was this review helpful? 2
      , nagpur
      Reviewed on Mar 21, 2015
    • Vijaya Bank Home Loan
      "Cooperative!!"
      0.5 4.0/5 "Great!"
      All the executives with Vijaya bank was so cooperative. Home loan services was so excellent and without any hassles, I had got the home loan. Disbursal was all pretty smooth and as of now, I feel satisfied with Vijaya bank.
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 05, 2015
    • Vijaya Bank Home Loan
      "Fastest processing"
      0.5 4.0/5 "Great!"
      I felt comfortable on interest rate as they provided 10.25%. From the time when I submitted application, the loan got sanctioned within 15 days. Loan got disbursed quiet earlier and satisfied with charges as well. Pre closure and part payment is there where possible post six months. Processing fee is bit high in Vijaya bank because they charged around 1.5%. On the whole I am satisfied with home loan process.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Dec 10, 2014
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    Vijaya Bank Home Loan is Rated as "Excellent!" by 23 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN
    rated 4.5/5.0 by 23 users

    Vijaya Bank Home Loan

    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 23 Sep 2017

    Vijaya Bank Home Loan Details
    Interest Rate 8.65%
    Loan Tenure 30 years
    Processing fees 0.50 % of the amount sanctioned with minimum of Rs.1000 and Maximum of Rs.20000
    Pre-closure Charges Nil

     

    Vijaya Bank Home Loan

    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.

    Vijaya Bank Home Loan FAQ

    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.

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