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Cosmos Co-operative Bank Home Loans Rates

Cosmos Co-operative Bank home loans rates are one of the best rates that you will get from the Indian housing finance market. The rates are both competitive and affordable. Cosmos Co-operative Bank calculates the interest rates on the basis of daily reducing balance.

About Cosmos Co-operative Bank home loans rates

Given below is a table that will let you know about Cosmos Co-operative Bank home loans rates:

Interest on home loans with effect from 15th April, 2010 (Floating rates)

Loan amount (Rs. in Lakhs) Interest rates
Rs.1.00 Lac to Rs.10.00 Lacs 9.00%
Rs. 10,00,001/- to Rs.20.00 Lacs 9.50%
Rs.20,00,001/- to Rs.30.00 Lacs 10.00%
Rs.30,00,001/- and above 11.50%

Group Housing Loan Scheme launched by Cosmos Co-operative Bank

Cosmos Co-operative Bank has introduced a new loan program named as Group Housing Loan Scheme. Given below are the salient features of this Group Housing Loan Scheme:

Eligibility Criteria

This loan is principally meant for groups of borrowers. However, individual borrowers can also qualify for this scheme.

Loan Limit

You can borrow from Rs.1.00 lacs to Rs.50.00 lacs.

Purpose of Group Housing Loan Scheme

You can avail a group housing loan scheme for the following purposes:

  • For purchasing a flat
  • For purchasing town houses
  • For constructing a house

Margin for Group Housing Loan Scheme

You can avail a loan amount of up to 75% to 85% of the overall value of the flat which comprises stamp duty, registration costs, share money, processing fee, mortgage costs and so on.


Main security will be Town Houses/Flats that you are going to purchase. Charge will be formed through unlisted equitable mortgage.

Repayment Term for Group Housing Loan Scheme

The maximum repayment term for home loans is 15 years.

Interest rate on Group Housing Loan Scheme launched by Cosmos Co-operative Bank

The table given below will help you know about the interest rates payable on the Group Housing Loan Scheme from Cosmos Bank:

Rate of Interest

 Loan Amount Rate of Interest
  First 2 yrs. Next 2 yrs. Last 11 yrs.
A) Rs.1.00 lacs to Rs.10.00 lacs 8.00 % 8.50 % 10.50 %
(B) Rs.10.00 lacs to Rs.20.00 lacs 8.25 % 9.75 % 10.75 %
(C) Rs. 20 lacs to Rs. 30 lacs  9.00 %  10.75 %  11.00 %
(D) Rs. 30 lacs to Rs. 50 lacs  10.25 % 12.00 %  13.50 % 


Borrowers have to bring 2 guarantors that the bank feels satisfactory.

Process Charges

You have to pay a process charge of Rs.1500/- only.

Share Money

The maximum amount of share money that you have to pay is Rs.5,000. The stated amount can be rolled into the necessary loan amount.

Prepayment penalties

There are no prepayment penalties.

Foreclosure Charges

Foreclosure charges will be imposed @ 2% for the first 4 years & subsequently @ 1 % for the leftover 11 years on balance due.

Title Documents

There is no necessity of furnishing the title documents or the legal statement, if the scheme is sanctioned by Cosmos Co-operative Bank.

Calculation of Interest

Calculation of interest will be done on the daily reducing balance basis.


All-inclusive insurance coverage for the property/flat as laid down by the guidelines of the bank.

Cosmos Co-operative Bank


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