Syndicate Home Loan Interest Rate Calculator - Dec 2016

Syndicate Bank Home Loan Interest Rates

Last Updated 08th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 9.45% - 9.45%
Check Special Offers
Lowest EMI Rs. 837 per lakh
Max Tenure 30 years
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
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





I authorize MyLoanCare, its partners to contact me. This over rides my number being in NDNC registry
X

Syndicate Bank Home Loan

Syndicate Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Syndicate

Home loan interest rates offered by Syndicate Bank depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Syndicate Bank offers home loan based on 1 Year MCLR rates which is currently 9.45%.
Syndicate Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in Syndicate Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Syndicate Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Syndicate Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • 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 home loan with Nil prepayment charges
  • Processing Fee - Syndicate Bank asks for a processing fee of 0.00% of loan amount with applicable service tax

Syndicate Home Loan EMI Calculator

    Home Loan EMI of Syndicate Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Syndicate Bank helps you to calculate your monthly EMI at different rate of interest and also check 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 interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Syndicate Bank Home Loan EMI?
  • EMI calculator of Syndicate Bank 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

Syndicate Home Loan Eligibility Calculator

Home Loan eligibility criteria Syndicate Bank
Eligibility of House loan in Syndicate Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Syndicate Bank offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Syndicate Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Syndicate Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Syndicate Bank eligibility. If you are working with a reputed company, probability of getting home loan from Syndicate Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Syndicate Bank gives you Home loan depending upon your income. Syndicate Bank gives you an amount ranging from Rs. 1,500,000 to Rs. 50,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    Syndicate Bank Floating Rate Home Loans

    Syndicate Bank Home Loan Floating
    Upto Rs. 2,500,000 - 9.45%
    Rs. 2,500,001 - 7,500,000 - 9.45%
    Rs. 7,500,001 - 10,000,000 - 9.45%
    Above Rs. 10,000,000 - 9.45% linked to 1 Year MCLR

    Syndicate Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Syndicate Bank?
    Syndicate Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Syndicate Bank
    You can avail additional top-up home loan from Syndicate Bank, subject to your eligibility

    Housing Loan Syndicate documents required

    Home Loan for Salaried employee Syndicate Bank documents required

    • 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

    Home Loan for Self-Employed Syndicate Bank documents required

    • 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 home loan at lower rate of interest i.e. at 9.45% with the lowest EMI of Rs. 837 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home 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 home 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 home loan with Nil charges.
    Can I transfer my home loan from another bank to Syndicate Bank?
    Yes, Syndicate Bank gives you the facility to transfer your existing home loan with a hassle free process. Home 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 home loan in Syndicate Bank?
    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 interest rate on Syndicate Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.45%. So, when Syndicate Bank offers a home loan at 9.45%, it applies a premium of 0% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest 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 Bank Home Loan in India

    Syndicate Bank Home Loan 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
Syndicate Home Loan Interest Rate News - Dec 2016
28th Jul 16 Syndicate Bank posts Q1 Net Profit at R79 cr, NPAs up
Syndicate Bank reported a net profit of Rs 79.13 crore , which is lower by 73.9 percent compared to year ago period . The results of this year are not comparable to past year due to exceptional write-off. The Bank stated in its regulatory filing that Previous quarter results are not comparable with the current quarter since there was an exceptional item of write-off on account of fraud at three branches of Jaipur region. The total income showed a slight increase by 1.5percent to R6, 419 crore, while interest income increased by 4.7percent to Rs. 1479 crore compared to a year ago period . . Asset Quality deteriorated as the Gross NPAs in June Quarter were 7.53% of gross advances , compared with 3.72%a year ago . Net NPAs stood at 5.04%, compared with 2.36% in the year-ago period. The bank has upgraded NPAs of Rs 220.42 crore and made recoveries of Rs444.70 crore.
08th Jul 16 Syndicate Bank revises MCLR, base rate
Syndicate Bank revised its Marginal Cost of Funds Based Lending Rate (MCLR) . The revised overnight MCLR will be 9.40 per cent (existing MCLR 9.50 per cent), one month MCLR 9.45 per cent (existing MCLR 9.55 per cent), three months MCLR 9.45 per cent (existing MCLR 9.55 per cent), six months MCLR 9.50 per cent (existing MCLR 9.60 per cent) and one year MCLR 9.55 per cent (existing MCLR 9.65 per cent). This will be in effect from 11th July 2016. The bank has also revised its base rate and BPLR . Base rate revised 9.60 per cent (existing rate 9.70 per cent) and BPLR revised 13.85 per cent (existing 13.95 per cent). This will also be in effect from 11th July 29, 2016. This cut in interest rates should result in lower interest for banks customer for home loan
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.