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Syndicate Bank Home Loan Rates

Syndicate Bank India home loan rates are one of the finest home loan rates that are awaiting you in the market. Whenever you sense the need of a home loan that can truly suit your requirements, you should think about Syndicate Bank India home loans.

About Syndicate Bank India Home Loan Rates

Syndicate Bank India home loan rates are really affordable to fit the budget of the borrowers. The table given below will give you a fair idea about Syndicate Bank India home loan rates:

SyndNivas
Repayment Term (includes repayment holiday) Floating Rate Housing Loans (%) Fixed Rate Housing Loans (%)
  Loans up to Rs.20 lakhs Loans over Rs.20 lakhs up to Rs. 30 lakhs Loans above Rs.30 lakhs Regardless of the amount
Upto 5 years 4.00% below PLR
(8.00%)
3.25 below PLR
(8.75%)
2.75% below PLR
(9.25%)
11.50%
Above 5 years and upto 10 years 3.50% below PLR
(8.50%)
2.75% below PLR
(9.25 %)
2.25% below PLR
(9.75%)
12.00%
Above 10 years and upto 20 years 3.25% below PLR
(8.75%)
2.50% below PLR
(9.50%)
2.00% below PLR
(10.00%)
Category no longer available
Above 20 years and upto 25 years 3% below PLR
(9.00%)
2.25% below PLR
(9.75%)
1.75% below PLR
(10.25%)
Category no longer available
Special Housing Loan Scheme according to IBA (Indian Banks Association) (with effect from 15th December 2008 to 31st December 2009)
Interest Rate For the first 5 years for loan amount up to Rs.5.00 lacs For the first 5 years for loan amount over Rs.5.00 lacs up to Rs.20.00 lacs.
  8.50% 9.25%
Interest rate will be readjusted once every 5 years from the date of the first installment.




Repayment of Syndicate Bank India home loans:

In case of purchasing a house:

You have to pay off the loan by means of EMIs (Equated monthly installments). The maximum repayment term of the loan is 25 years which comprises a maximum repayment holiday period of 18 months (if applicable).

For salaried individuals, repayment term must not surpass superannuation and for other individuals, it must not exceed 65 years of age.

In case of renovation/maintenance - Maximum repayment term is 5 to 7 years.

Documentation charges for Syndicate Bank home loans

For loan amount upto Rs.2.00 lakhs, there is no documentation fee.
For loan amount over Rs.2.00 lakhs, the documentation fee is Rs.200 per lakh, subject to a maximum of Rs.25000.

Security for Syndicate Bank home loans

A good third party security which is satisfactory to the bank will work as security against the loan.

Documents to be furnished

Given below are important documents that you need to furnish together with the duly filled out application form:

  • Original title deeds of the property with contract for sale and Encumbrance Certificate.
  • Income proof.
  • Assessment of construction cost, appraisal report for purchase of readymade flat/house.
  • Approval for construction with sanctioned plan given by Competent Authority.
  • Any other paperwork subject to the individual circumstances.

The Prime Lending Rate (PLR) of Syndicate Bank is 12.00% per annum with effect from 1st July, 2009. Interest rates will be compounded on a monthly basis.



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