Syndicate Loan Against Property Interest Rate Calculator - Dec 2016

Syndicate Bank Loan Against Property Interest Rates

Last Updated 04th Dec 2016
Interest Rate 12.20% - 12.20%
Check Special Offers
Lowest EMI Rs. 1,446 per lakh
Max Tenure 10 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Syndicate Bank Loan Against Property

Syndicate Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 0% of the market’s value for tenure of 18 years.

Loan Against Property Syndicate

Loan Against Property interest rates offered by Syndicate Bank depends upon MCLR
  • Floating rates changes with a single change in Syndicate Bank 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 Property Loan based on 1 Year MCLR which is currently 9.45%
Syndicate Bank mortgage loan interest rate depends upon
  • Loan amount: Syndicate Bank mortgage loan rate 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 Loan Against Property. 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

Loan Against Property 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 loan against property with Nil prepayment charges
Processing Fee - Syndicate Bank asks for a processing fee of 0.50% of loan amount with applicable service tax

Syndicate Loan Against Property EMI Calculator

Loan Against Property EMI of Syndicate Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Syndicate Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Loan Against Property EMI?
  • Syndicate Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Syndicate Bank EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Syndicate Bank
Eligibility of Loan Against Property 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: Syndicate Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Syndicate Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Syndicate Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Syndicate Bank gives maximum LTV of 0% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Syndicate Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Syndicate Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Syndicate Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Estimated eligibility online by using Eligibility Calculator.

Syndicate Bank Floating Rate Loan Against Property

Syndicate Bank Loan Against Property Floating
Upto Rs. 2,500,000 - 12.20%
Rs. 2,500,001 - 7,500,000 - 12.20%
Rs. 7,500,001 - 15,000,000 - 12.20%
Above Rs. 15,000,000 - 12.20% linked to 1 Year MCLR

Syndicate Bank Loan Against Property Top up, Transfer

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

Loan Against Property Syndicate documents required

Loan Against Property 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

Loan Against Property 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

Property documents for Loan Against Property from Syndicate Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of Syndicate Bank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
11th Jul 16 9.60% decreased by 0.1%
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.70% decreased by 0.3%
29th Sep 15: 0.5% repo cut by RBI
08th Jun 15 10.00% decreased by 0.25%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
13th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
05th Jul 11 10.25% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
03rd Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
15th Dec 10 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
04th Oct 10 8.50% increased by 0.25%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25%

Syndicate MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Syndicate ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Syndicate Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Syndicate Bank and other banks and all EMI's have been paid. Note that Syndicate Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Syndicate Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Syndicate mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Syndicate Bank property loan is linked to its 1 Year MCLR, which is currently 9.45%. So, when Syndicate Bank offers a loan against property at 12.20%, it applies a 2.75% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Syndicate Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Syndicate loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Syndicate Bank Loan Against Property in India

Syndicate Bank Loan Against Property 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 Loan Against Property 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
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