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Syndicate Home Loan Interest Rate - Sep 2017

Last Updated 12th Sep 2017

Syndicate Bank Home Loan Interest Rates

Interest Rate 8.75% - 8.75%
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Lowest EMI Rs. 787 per lakh
Max Tenure 30 years
Processing Fee Upto 0.13%
Minimum Rs. 500 Maximum Rs. 5,000
Prepayment, Foreclosure Charges Allowed with Nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
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Syndicate Bank Home Loan

Syndicate Bank offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from Syndicate Bank has the following benefits:

    Syndicate Bank Home Loan Interest Rates

    In addition to its regular loan products, bank also offers customized loans for special categories of borrowers. Bank offers lower rates to ladies borrowers. Click on the details to get slabwise interest rates.

    Syndicate Bank Floating Rate Home Loans

    Syndicate Bank Home Loan Interest Rates
    Syndicate Bank Home Loan Floating 8.75%
    Details+

    Syndicate Bank home loan interest rate depends upon

    • Loan amount: Housing loan rate in Syndicate Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
    • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
    • Type of loan opted for: Syndicate Bank also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.

    Interest Rate and its impact on Syndicate Bank Home Loan Eligibility

    Syndicate Bank has detailed criteria to determine a potential borrower’s eligibility for housing loans. These eligibility criteria determine the loan amount you can avail. Interest rate offered by Syndicate Bank also impacts the amount of loan you can avail from Syndicate Bank.
    Some of the key eligibility criteria are summarized in the table below:

    Syndicate Bank Home Loan Eligibility Criteria
    Interest Rate 8.75% - 8.75%
    Age 21 - 60 years
    Minimum Credit Score 650 and above
    Loan Amount Rs. 1,500,000 to Rs. 50,000,000
    Loan to Value Ratio Upto 90%
    FOIR (Fixed Obligations to Income Ratio) Up to 0.65

    Home Loan Charges Applicable (Other than Interest)

    In addition to interest rates, home loan also carry some other charges which include:

    • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Syndicate Bank allows prepayment of house loan with Nil prepayment charges
    • Processing Fee - Syndicate Bank charges a processing fee of 0.13% of loan amount Minimum Rs. 500 Maximum Rs. 5,000 with applicable tax
    • Other Charges - Bank also charges technical and legal charges which are explained to the customer during the loan process.

    Home Loan Products and Rates

    Syndicate Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Syndicate Bank Home Loan Eligibility Calculator

    Syndicate Bank Home Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. It is important to calculate eligibility for housing loan from Syndicate Bank. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

    SBI Home Loan EMI and Interest Calculator

    Further, you can also use the Syndicate Bank Home Loan EMI Calculator online to calculate your house loan EMI. EMI is a fixed amount that you pay each month towards the repayment of yourloan till the end of tenure

    • EMI calculator of Syndicate Bank helps you to calculate your monthly EMI at different rate of interest and also check and compare lowest EMI per lakh on home loan
    • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
    • Rate of interest is an important factor which affects your EMI. Higher the rate, higher will be the EMI. You can also estimate the interest amount you pay over the tenure of the loan at various loan tenure as well as interest rates
    • Loan tenure matters equally as higher tenure reduces your EMI

    What are the benefits of calculating Syndicate Bank Housing Loan EMI?

    • EMI calculator helps you to calculate your monthly EMI at different rate of interest
    • Syndicate Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

    Housing Loan Syndicate documents required

    For Salaried employee

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    For Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from Syndicate Bank?

    Syndicate Bank offers housing loan at 8.75% rate with the lowest EMI of Rs. 787 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Syndicate Bank.

    What is the maximum loan tenure I can opt under Syndicate Bank house loan?

    Syndicate Bank offers you a longer tenure of 30 years to repay your loan with a benefit of paying less EMI per month.

    Do I get tax benefit on home loan from Syndicate Bank?

    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

    Can I foreclosure my home loan? What are the charges applicable?

    Yes, you can foreclose your loan with Nil charges.

    Can I transfer my house loan from another bank to Syndicate Bank?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Syndicate Bank offers you to pay lower EMIs and save money.

    Can I club the income of my spouse with mine and apply for joint home loan?

    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

    What is the benchmark applicable for housing loan?

    The benchmark applicable for home loan in Syndicate Bank is 1 Year MCLR.

    What is the effect of part payments on Syndicate Bank housing loan EMI ?

    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

    How to increase my eligibility on Syndicate Bank housing loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

    How will interest rate on Syndicate Bank housing loan change in future?
    • Floating rate on Syndicate Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.50%. When Bank offers a home loan at 8.75%, it applies a premium of 0.25% to its MCLR Rate to arrive at this home loan rate.
    • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    Syndicate Home Loan in India

    Syndicate Bank Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-425-0585
    Ahmedabad 1800-425-0585
    Ambala 1800-425-0585
    Anand 1800-425-0585
    Aurangabad 1800-425-0585
    Bangalore 1800-425-0585
    Bhilai 1800-425-0585
    Bhilwara 1800-425-0585
    Bhiwadi 1800-425-0585
    Bhopal 1800-425-0585
    Bhubaneswar Cuttack 1800-425-0585
    Bikaner 1800-425-0585
    Chandigarh 1800-425-0585
    Chennai 1800-425-0585
    Cochin 1800-425-0585
    Coimbatore 1800-425-0585
    Dehradun 1800-425-0585
    Delhi 1800-425-0585
    Durg 1800-425-0585
    Faridabad 1800-425-0585
    Gandhinagar 1800-425-0585
    Ghaziabad 1800-425-0585
    Goa 1800-425-0585
    Greater Noida 1800-425-0585
    Gurgaon 1800-425-0585
    Guwahati 1800-425-0585
    Gwalior 1800-425-0585
    Hyderabad 1800-425-0585
    Indore 1800-425-0585
    Jabalpur 1800-425-0585
    Jaipur 1800-425-0585
    Jalandhar 1800-425-0585
    Jodhpur 1800-425-0585
    Kanpur 1800-425-0585
    Karnal 1800-425-0585
    Kolhapur 1800-425-0585
    Kolkata 1800-425-0585
    Kota 1800-425-0585
    Kozhikode 1800-425-0585
    Lucknow 1800-425-0585
    Ludhiana 1800-425-0585
    Madurai 1800-425-0585
    Meerut 1800-425-0585
    Mehsana 1800-425-0585
    Mohali Sas Nagar 1800-425-0585
    Mumbai 1800-425-0585
    Mussoorie 1800-425-0585
    Nagpur 1800-425-0585
    Nashik 1800-425-0585
    Noida 1800-425-0585
    Noida Extn 1800-425-0585
    Panipat 1800-425-0585
    Patna 1800-425-0585
    Pondicherry 1800-425-0585
    Pune 1800-425-0585
    Raipur 1800-425-0585
    Rajkot 1800-425-0585
    Ranchi 1800-425-0585
    Rohtak 1800-425-0585
    Roorkee 1800-425-0585
    Salem 1800-425-0585
    Shimla 1800-425-0585
    Sonepat 1800-425-0585
    Surat 1800-425-0585
    Trichy 1800-425-0585
    Udaipur 1800-425-0585
    Vadodara 1800-425-0585
    Varanasi 1800-425-0585
    Vijaywada 1800-425-0585
    Vizag 1800-425-0585
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