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Table of Contents
- 1 About Catholic Syrian Bank Home Loan
- 2 Catholic Syrian Bank Home Loan EMI Calculator
About Catholic Syrian Bank Home Loan
Catholic Syrian Bank offers home loans to Individuals or a group of Individuals for the purpose of purchase of a new/existing house/flat. Whether you are looking for construction, extension or renovating your home, the bank covers them all. Home loans are available up to Rs. 30 lakhs and above for a maximum period of 20 years at the floating interest rates.
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
Catholic Syrian Bank Home Loan Details
|Interest Rate||Floating interest rate|
|Loan Amount||Upto Rs. 30 lakhs and above|
|Tenure||Up to 20 years|
|Age Ceiling||Salaried : Superannuation|
|Others : 65 years|
|Processing Fees||Upto 0.50%|
|Pre-payment or Foreclosure||NIL|
|Security||Mortgage of land and building to be constructed / purchased.|
|Repayment Holiday||Maximum upto 12 months|
|Loan Margin||75 % of construction / purchase cost OR Loan Eligibility whichever is lower.|
|Applicable to :||Salaried employees and self-employed professionals|
Catholic Syrian Bank Home Loan Eligibility Calculator
Know your eligibility towards repayment of your EMI. Just enter the below details in Catholic Syrian Bank Home Loan Eligibility Calculator and determine whether the loan amount for which you are eligible.
- Your monthly income
- Expected interest rate
- Existing Liabilities
Let us understand with the help of a simple example:
Suppose you are working in an MNC and earning a monthly salary of Rs. 55,000. From which, you wish to save Rs. 10,000 for repaying it towards your EMI. Normally, banks disburse higher loan amounts in the form of EMIs that falls in the range of 50%-60% of your net salary intake. Let’s find out the how the calculator will compute your per lakh EMI.
Amount- Rs. 100,000
Rate of Interest-11.50%-12.50%p.a.
Loan Tenure-15 Years
Per Lac EMI- Rs. 1,168- Rs. 1,233
Loan Amount Eligibility- Rs. 100,000 x savings/per lac EMI
– Rs. 100,000 x 10,000/1168 =Rs. 8.56 lacs(approx.)
– Rs. 100,000 x 10,000/1233 = Rs. 8.11 lacs(approx)
So, the expected home loan amount from Catholic Syrian Bank Home Loan would be Rs. 8.11 lacs-Rs. 8.56 lacs (approx.)
Catholic Syrian Bank Home Loan EMI Calculator
Catholic Syrian Bank Home Loan EMI Calculator is easy and quick to calculate. Just fill the details such as loan amount, the number of months and interest rate applicable on your loan. You may get actual EMI value as a result which is required to be payable for your home loans availed from Catholic Syrian Bank.
For example: You are interested in availing a loan amount of Rs. 25 lakhs repayable after 15 years at varying interest rate being 11.50% -12.50%. The following table gives you details on your calculated EMI along with interest and the total amount that costs you against your sanctioned home loan.
Table showing EMI, interest outgo and total amount payable on your home loan
|Loan Amount (in Rs.)||Loan Tenure (in years)||Interest Rate (% p.a.)||EMI ( in Rs.)||Total Interest Outgo (in Rs.)||Total Amount (EMI+Interest) (in Rs.)|
|2500000||3||11.50% -12.50%||82,440- 83,634||4,67,841-5,10,826||29,67,841-30,10,826|
|Year||Principal(in Rs.)||Interest(in Rs.)||Balance Amount (in Rs.)|
Documentation for Catholic Syrian Bank Home Loan
|Application form duly filled-up with photograph affixed on the space provided for the purpose.|
|Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof.|
|Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any.|
|Salary slips for the latest three months along with CTC letter.||Copies of the Income-tax Returns for the last 3 years along with financial statements, such as P&L Account and the Balance Sheet for the last three years with tax audit compliance report (wherever applicable) duly certified by the Chartered Accountants.|
|Form No 16 along with IT returns and computation for total income for the last three years.||Business Profile.|
Features and Benefits of Catholic Syrian Bank Home Loan
- Attractive Interest Rates
- Quick and transparent processing
- Speedy disbursement of loans
- Quick sanction process
- Hassle free norms
Catholic Syrian Bank Customer Care Number
Are you facing any difficulties relating to the availability of loan amount, tenures, interest rates or documentation processes? Contact a committed experienced customer care representative of Catholic Syrian Bank on 1800-266-9090 (Toll-free number) and get your queries resolved.