Syndicate Home Loan Interest Rates 2022

Syndicate Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.95% up to 8.90%. Apart from the interest rate, the bank also has various other charges such as Syndicate Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Syndicate Bank home loan processing charges are upto 0.13% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Syndicate Bank charges a minimum processing of ₹ 500 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees	Upto 0.13% of the loan amount; minimum processing fee of ₹ 500 to maximum fee of ₹ 5,000
Part Prepayment Charges	Allowed
Foreclosure Charges	Nil for floating rate home loans

Syndicate Bank offers a housing loan interest rate at 6.95%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Syndicate Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Syndicate Bank home loan rates for multiple housing schemes.

Syndicate Bank Home Loan Scheme	Interest Rates
Syndicate Bank Repo Home Loan	6.95% - 8.90%

The home loan interest rates in Syndicate for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount	Rate
Upto ₹ 25 Lakh	6.95%
₹ 25 Lakh - ₹ 50 Lakh	6.95%
₹ 50 Lakh - 1 Cr	6.95%
Above ₹ 1 Cr	6.95%

Home Loan Interest Rate for Self-Employed

Loan Amount	Rate
Upto ₹ 25 Lakh	6.95%
₹ 25 Lakh - ₹ 50 Lakh	6.95%
₹ 50 Lakh - 1 Cr	6.95%
Above ₹ 1 Cr	6.95%

Loan Amount	Syndicate Home Loan Rate For Women	Syndicate Home Loan Rate For Govt Employee
Upto ₹ 25 Lakh	6.95%	6.95%
₹ 25 Lakh - ₹ 50 Lakh	6.95%	6.95%
₹ 50 Lakh - 1 Cr	6.95%	6.95%
Above ₹ 1 Cr	6.95%	6.95%

Syndicate Bank has increased interest rates on home loans by 0.05% on 01 Apr, 2021. After the cut in Syndicate Bank home loan rates, the latest rates start from 6.95%. The past home loan interest rate trend of Syndicate Bank is as below:

Last Revised Date	Lowest Home Loan Interest Rate of Syndicate	Rate Difference
01 Apr, 2021	6.90%	▲0.05%
31 Mar, 2021	6.90%	▲0.05%
10 Feb, 2021	6.90%	▲0.05%

Syndicate Bank offers multiple home loan schemes at affordable interest rates. However, you must do comparison between Syndicate Bank and other bank’s home loan rates before applying:-

Particulars	Syndicate Bank	SBI	HDFC
Interest Rate	6.95% - 8.90%	6.65% - 7.05%	6.70% - 8.20%
Processing Fees	Upto 0.13% Min ₹ 500 Max ₹ 5,000	NIL	Min ₹ 3,000
Loan Tenure	30 Years	30 Years	30 Years
Maximum Loan Amount	₹ 5 Cr	₹ 7 Cr	₹ 5 Cr
Age	21 - 65 Years	18 - 70 Years	24 - 65 Years
Benchmark Rate	RLLR	RLLR	PLR
Lowest EMI Per Lakh	₹ 662 per lakh	₹ 642 per lakh	₹ 645 per lakh

Syndicate Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Syndicate Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Syndicate Bank offers the loan balance transfer rate of 6.50%.

Maximum Annual Percentage Rate (APR)

6.95% to 8.9%

Representative example of the total cost of the loan, including all applicable fees

Here is an illustration of the total cost of the loan: Total amount borrowed: ₹ 1,00,000 Time period: 5 Years to 30 Years Syndicate Bank Home Loan Interest Rate: 6.95% to 8.90% Processing Fee payable to: Upto ₹ 130 Fee payable to MyLoanCare: NIL Total Monthly Cost – From ₹ 662 for 30 Years ₹ 1,00,000 loan at 6.95% (lowest rate, longest time period) to ₹ 2,071 for 5 Years ₹ 1,00,000 loan at 8.90% (highest rate, shortest time period). This is inclusive of principal repayment. Annual Percentage Rate (APR) of charge including all applicable fees: 6.95% to 8.9% Total cost payable over loan tenure: ₹ 1,18,796 for 5 Years loan to ₹ 2,38,432 for 30 Years loan

✅Has Syndicate reduced home loan rates?

As per the current rates, Syndicate has hiked its home loan rates by 0.05% from 6.90% to 6.95%, which is one of the best rates in the market. The new rates are effective from 01 Apr, 2021.

✅Why should I opt for balance transfer to Syndicate Bank?

Syndicate Bank offers lowest Home Loan EMI of ₹ 662 per lakh availed at the lowest interest rate 6.95% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 662 per lakh, you should consider the option for a loan transfer to Syndicate from your existing bank. Current Syndicate balance transfer rate is 6.50%.

✅Can Syndicate Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Syndicate to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

✅Can Syndicate revise the home loan interest rates for their existing customers?

Yes, Syndicate offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

✅Does Syndicate offer a concessional home loan interest rate for women?

Yes, Syndicate offers special home loan interest rates for women. As against Syndicate home loan rates for male which is 6.95%, the home loan interest rate for women starts at %.

✅What is the Syndicate home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Syndicate provides home loan interest rate starting at 6.95%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

✅At what interest rate does an Syndicate employee get a home loan?

Syndicate offers concessional home loan rates of about 1% than the current home loan rates to Syndicate employees.

✅Is Syndicate Bank home loan a floating rate loan or fixed-rate loan?

Syndicate home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

✅What is the Syndicate home loan rate today ?

Syndicate home loan rate today is in the range of 6.95% to 8.90%.The bank also charges a processing fee of upto Upto 0.13%, Minimum ₹ 500 Maximum ₹ 5,000 of the home loan amount.

✅How much interest does Syndicate take on home loans?

The rate of interest on Syndicate home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Syndicate home loan current interest rate 2021 are in the range of 6.95% to 8.90%.