Bandhan Bank Home Loan

Bandhan Bank Home Loan is a home loan scheme provided by Bandhan Bank to its customers. It offers various benefits to the borrowers like low-interest rates, easy repayment options, etc.

Bandhan Bank Home Loan Highlights

Interest Rate	Starting at 7.80% pa.
LTV Ratio (Loan Amount)	Up to 90% of property cost
Tenure	Up to 30 years
Processing Fees	Up to 1.00% + GST

Bandhan Bank Home Loan

Bandhan Bank Home Loan offers customers a loan amount of up to 90% of the cost of the property (including land and construction) with a tenure of up to 30 years. The interest rate on the loan is starting at 7.80% per annum. The bank also offers special discounts for women borrowers. The processing fee for the loan is 0.25% – 1.00% + GST.

Bandhan bank offers various benefits to the borrowers such as low-interest rates, easy eligibility criteria, and flexible repayment options. The loan can be used for various purposes such as buying a new home, renovating an existing home, or paying for home appliances. It is a good option for those who are looking for a home loan with favourable terms and conditions.

Bandhan Bank Home Loan Interest Rates 2022

Bandhan Bank offers home loans at very competitive interest rates. The current interest rate for a Bandhan Bank home loan is 7.80% to 13.50% per annum. This is a fixed-rate loan, which means that the interest rate will not change during the tenure of the loan.

Home Loans	Interest Rate (p.a.)
Suraksha Home Loan	7.80% to 12.90%
Sajavat Home Loan	10.65% to13.15%
Su-awas Home Loan	11.50% to 13.50%
Suvidha Home Loan	10.15% to 13.15%

Read Also – Indian Overseas Bank Gold Loan

What Factors Affect the Interest Rate on the Home Loan?

There are several factors that can affect the interest rate on a home loan. The type of loan, the borrower’s credit history, and the size of the down payment are all important factors. The interest rate may also be affected by the current market conditions.

Types of Bandhan Bank Home Loan

Bandhan Bank offers a variety of home loan products to suit the needs of different customers. The different types of Bandhan Bank home loans are:

1. Suraksha Home Loan

Looking to purchase or extend a home? Bandhan Bank offers a Suraksha home loan with competitive interest rates and a range of repayment options to suit your needs.

• Suraksha home loans can be used for:
  • Purchase of an existing property
  • Construction of a new home
  • Extension or renovation of an existing home
• LTV Ratio: Up to 90% of the cost of property
• Tenure: 5 to 30 years

2. Su-awas Home Loan

Su-awas Home Loan is a great option for those looking to finance the construction of their pakka or semi-pakka home. The loan is exclusively for micro banking borrowers and offers competitive interest rates and terms. Whether you are a salaried or non-salaried individual, Bandhan Bank Home Loan can help you achieve your dream of owning your own home.

• Tenure: 3 to10 years
• Loan Amount: Up to Rs 10 lakh

3. Sajavat Home Loan

Are you planning to renovate your home? Sajavat home loan scheme is the perfect solution for you. With this loan, you can easily finance the repair and renovation of your existing house, such as plumbing, painting, re-laying the roof, etc.

• LTV Ratio: Up to 80% of the cost of repair work
• Tenure: 5 to15 years

4. Suvidha Home Loan

The Suvidha Home Loan is a special home loan product offered by Bandhan bank to its customers. This home loan can be used for the purchase/extension/construction of the house. 

• No formal income proof required 
• LTV Ratio: Up to 90% of property cost
• Tenure: 5 to 30 years

Bandhan Bank Home Loan Features

Bandhan Bank home loans offer some great features that can help you save money and make the most of your investment. Here are some of the highlights:

• Competitive interest rates: Bandhan Bank offers some of the most competitive interest rates on home loans in the market. This can help you save a significant amount of money on your loan repayment.
• Flexible repayment options: You can choose from a variety of repayment options that best suit your needs and budget. This flexibility can help you keep your EMIs affordable and manageable.
• Top-up facility: If you need additional funds for any reason, you can avail of the top-up facility on your Bandhan Bank home loan. This can come in handy in case of an emergency or unexpected expense.
• Doorstep service: Bandhan Bank provides doorstep service for its home loan customers, so you don’t have to go through any hassle to apply for or avail of the loan.
• Quick disbursal: Once your loan application is approved, the loan amount will be disbursed quickly, so you can start using it right away.

Read Also – Bank of Baroda Personal Loan

Bandhan Bank Home Loan Eligibility Criteria

To be eligible for a Bandhan Bank Home Loan, you must:

• Be at least 21 years of age.
• Be a resident Indian citizen.
• Have a regular source of income.
• Have a good credit history.
• Micro-banking borrowers with a minimum 1 complete cycle of the loan (For Su-awas Home Loan)

Bandhan Bank Home Loan Documents Required

When you are ready to apply for a Bandhan Bank home loan, you will need to have the following documents:

• Application form duly completed and signed by the applicant.
• KYC (Know Your Customer) documents: this will include proof of identity, proof of address and proof of income.
• Last 6 months’ bank statements.
• Latest salary slip or Form 16.
• Property-related documents: this could include the sale agreement, title deeds, approved plans, latest property tax receipt, etc.
• Loan sanction letter from the developer (if applicable)
• NOC (No Objection Certificate) from the builder (if applicable)
• Processing fee cheque or DD.
• Post-dated cheques for EMIs.
• Any other documentation that may be required by the bank.

Bandhan Bank Home Loan EMI Calculator

If you are planning to apply for a home loan from Bandhan Bank, it is important to know how much your monthly EMIs will be. This will help you budget your expenses and make sure that you can afford the loan. The best way to calculate your EMI is by using a home loan EMI calculator.

Bandhan Bank offers a home loan EMI calculator on its website that can be used for free. All you need to do is enter the details of your loan such as the amount, interest rate, and tenure. The calculator will then give you the monthly EMI amount. You can also use this tool to compare different home loan offers from Bandhan Bank and other lenders.

Make sure to use a home loan EMI calculator before applying for a home loan from Bandhan Bank or any other lender. This will help you understand how much you need to pay every month and make an informed decision about the loan.

How to Apply for Bandhan Bank Home Loan?

here is a step-by-step guide on how to apply for a Bandhan bank home loan:

• The first step is to go to the Bandhan Bank website and navigate to the home loan section.
• Fill in the online application form with the required personal and financial details.
• Once you have submitted the form, a representative from the bank will get in touch with you to discuss your loan options.
• Based on your requirements, the representative will help you choose the right home loan product.
• Once you have decided on the loan product, you will be required to submit certain documents for verification purposes.
• After all the formalities are completed, the loan amount will be disbursed to your account and you can start using it for your housing needs.

Read Also – Bandhan Bank Car Loan

FAQs

Conclusion

Bandhan Bank Home Loan is a great option for those looking for a home loan with competitive interest rates and flexible repayment options. With this loan, you can enjoy the peace of mind knowing that you have the support of a reliable bank behind you. So if you’re in the market for a home loan, be sure to consider Bandhan Bank Home Loan.

.