Syndicate Bank Home Loan

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

About Syndicate Bank Home Loan

One of the major and commercial sector banks of India, there is no denying the fact that Syndicate Bank with its best of financial products and services caters the diverse needs of one and all. Being founded in the year 1925 with a vision and mission to bring a revolution in the field of banking sector, this bank is still setting the benchmark for others. With its exclusive and unique financial products as well as services such as home loan, this bank is leaving no stone unturned to meet the needs of all its esteemed customers. By offering this type of credit facility the only endeavor of this commercial bank is to fulfill the dream of many home borrowers.

Moreover, if we talk about more about the home loan being offered by this leading bank, you can easily get this loan with just meeting the eligibility norms. With flexible tenures, competitive rates, simple documentation and minimal fee and charges, there is no denying the fact that this bank with its best of home loan ensures that your dream of owning a beautiful home can easily be fulfilled. However, to know more about the home loan being offered by Syndicate Bank, just go to the page below.

Syndicate Bank Home Loan Interest Rates

Particulars Details
Interest Rates 8.85% - 11.25%
Loan Amount 72 months of gross salary (salaried), 6 times of 3 years average income (self-employed)
Tenure 30 Years
Current Experience 2 years of current job stability
Loan Value Ratio 90% of Agreement Value

Eligibility Criteria for Syndicate Bank Home Loan

If you are interested in knowing the eligibility of the home loan being offered by this renowned bank, just read the points below.

Those who are:

Resident Indians, Non-Resident Indians holding Indian Passport / Persons of Indian origin, Pensioners, Hindu Divided Families eligible to avail the home loan.

Syndicate Bank Home Loan EMI Calculator

Those who are willing to own a home loan from Syndicate Bank, this page is worth reading for them. Have you ever paid attention to the monthly installment amount that you need to pay each month to the respective bank? Do you know how it is calculated? Well, it is just because a smart and effective tool called an EMI Calculator that performs all the work for you by letting you know your installment amount in the most easiest and quickest manner. In order to give you the results, this device takes into the consideration important credentials such as:

  • Loan Amount
  • Interest Rate
  • Tenure

With the help of feeding these values into the device, it will fetch the results for you within few seconds. Yes, you read that right! This tool gives you the results in the least time frame, hence has been widely used online to know the exact calculation related to EMI, Interest Outgo and Total Amount Payable. However, to clear your doubts, you can take the help from an example mentioned below.

Suppose, Akash Sharma, a 28 year-old Senior Vice President in a company is looking for a home loan to buy his beautiful home in Lucknow City. Syndicate Bank has agreed to offer the loan amount of ₹30 Lakh for a tenure of 10 years at an interest rate of 9.10% per annum. Now before availing the loan, Akash wants to know what would be his EMIs, interest outgo and total amount payable? Thus, in order to know the same, he used the EMI Calculator and guess what, got the results in few seconds. Let’s take a look at the table below to have more understanding about it.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 30,00,000 9.10% 1 ₹ 2,62,494 ₹ 1,49,923 ₹ 31,49,923
₹ 30,00,000 9.10% 2 ₹ 1,37,192 ₹ 2,92,606 ₹ 32,92,606
₹ 30,00,000 9.10% 3 ₹ 95,539 ₹ 4,39,400 ₹ 34,39,400
₹ 30,00,000 9.10% 4 ₹ 74,798 ₹ 5,90,288 ₹ 35,90,288
₹ 30,00,000 9.10% 5 ₹ 62,421 ₹ 7,45,246 ₹ 37,45,246
₹ 30,00,000 9.10% 6 ₹ 54,226 ₹ 9,04,245 ₹ 39,04,245
₹ 30,00,000 9.10% 7 ₹ 48,420 ₹ 10,67,248 ₹ 40,67,248
₹ 30,00,000 9.10% 8 ₹ 44,106 ₹ 12,34,214 ₹ 42,34,214
₹ 30,00,000 9.10% 9 ₹ 40,788 ₹ 14,05,094 ₹ 44,05,094
₹ 30,00,000 9.10% 10 ₹ 38,165 ₹ 15,79,834 ₹ 45,79,834

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount
1 ₹ 1,92,897 ₹ 2,65,086 ₹ 28,07,102
2 ₹ 2,11,201 ₹ 2,46,782 ₹ 25,95,901
3 ₹ 2,31,243 ₹ 2,26,740 ₹ 23,64,657
4 ₹ 2,53,186 ₹ 2,04,797 ₹ 21,11,471
5 ₹ 2,77,212 ₹ 1,80,771 ₹ 18,34,258
6 ₹ 3,03,517 ₹ 1,54,466 ₹ 15,30,740
7 ₹ 3,32,319 ₹ 1,25,664 ₹ 11,98,421
8 ₹ 3,63,854 ₹ 94,129 ₹ 8,34,566
9 ₹ 3,98,381 ₹ 59,602 ₹ 4,36,185
10 ₹ 4,36,472 ₹ 21,798 ₹ 0

Documentation Required for Syndicate Bank Home Loan

Proofs Salaried Self-employed
Identity Proof Aadhar Card/ Passport /Pan Card/ Voter ID Card /Driving License Aadhar Card/ Passport /Pan Card/ Voter ID Card /Driving License
Address Proof Passport/Aadhar Card /Utility Bill Passport/Aadhar Card /Utility Bill
Residence Ownership Proof Property Documents/Maintenance Bill/Electricity Bill Property Documents/Maintenance Bill/Electricity Bill
Income Proof Latest 3 months Salary Slips and Form 16 Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.
Business Existence Proof NA 3 years old Saral Copy /Shop Establishment Act /Any Tax Registration Copy /Company Registration license
Job Continuity Proof Current Employment Certificate /Current Job Appointment letter (if it is more than 2 years) /Experience Certificate (including your previous job certificate or appointment and relieving letter) NA
Bank Statement Latest 1 year statement where your salary is getting credited Latest 1 year bank statement both current and savings
Property Documents Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If Applicable) Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If Applicable)
Advance Processing Cheque Required Required
Investment Proof Fixed Deposit/Shares/Fixed Assets, etc. Fixed Deposit/Shares/Fixed Assets, etc.
Passport Size Photograph Required Required

Features & Benefits of Syndicate Bank Home Loan

  • Easy Documentation
  • Fast Processing
  • Flexible Repayment Options
  • Hassle-free & Transparent Process
  • Quick Approval
  • Doorstep Service