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Syndicate Bank Home Loan |
Syndicate Bank Home Loan is one of the most popular loan products made available by the bank to borrowers and home buyers in India. SyndNivas is the name of the housing loan scheme offered by the bank to eligible borrowers. If you are looking to buy a home then you can avail this loan program as it is very convenient for the borrowers. Syndicate Bank home loans can be availed for a number of purposes that include;
- Construction or acquisition of a house/flat or acquiring a site for building a house.
- Purchasing a new or an existing house which is less than 25 years old.
- Making additions, renovations and extensions to existing house.
- Loans available for NRIs to acquire house or for self-occupation after returning to India.
- For purchasing furniture and fixtures that include geysers, cots, air conditioners, fridge, tables, sofas and many other items that contribute to the improvements of the house.
Syndicate Bank Home Loan Interest Rate
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Home loan rates offered by Syndicate Bank are quite competitive and most of the borrowers can afford it. On the other hand, the home loan rate of interest will be determined by the financial ability of the borrowers and the type of home loan programs. The following highlights the prevailing home loan rates offered by the bank on different loan terms.
| Repayment
Period
(Including
Repayment Holiday)
|
Fixed Rate
Upto
Rs. 20 lacs
%
|
Fixed Rate
Above
Rs. 20 lacs
%
|
Floating Rate
Upto
Rs.20 Lacs
%
|
Floating Rate
Above
Rs.20 Lacs and
Upto
Rs.30 Lacs
%
|
Floating Rate
Above
Rs.30 Lacs
%
|
| Upto 5 years |
12.00 |
12.00 |
BPLR - 4.00 |
BPLR - 3.25 |
BPLR - 2.75 |
| Over 5 years and upto 10 Years |
13.00 |
13.00 |
BPLR - 3.50 |
BPLR - 2.75 |
BPLR - 2.25 |
| Over 10 years and upto 20 years |
Category abolished |
Category abolished |
BPLR - 3.25 |
BPLR - 2.50 |
BPLR - 2.00 |
| Over 20 years and upto 25 years |
Category abolished |
Category abolished |
BPLR - 3.00 |
BPLR - 2.25 |
BPLR - 1.75 |
Syndicate Bank Home Loan Eligibility
There are certain eligibility conditions which the borrowers are required to fulfill in order to get approval for the housing loan scheme. Any salaried or self employed individual earning a regular income from a reliable source for a period of 5 years is eligible to apply for the home loan program. NRIs having Indian passport with enough financial ability to repay the loan can avail this loan program. On the other hand, applicants having adequate regular income but not owning a flat or a house can also apply for Syndicate Bank home loans.
It is advisable for the borrowers to use the home loan Emi calculator in order to calculate the Emi of several loan terms and find the best suitable program. For detailed information on home loan application fees, processing charges, loan quantum and repayment; visit the home loan page of the official bank website.
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