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Bandhan Bank Home Loan Details

Loan amountUp to 90% of Property Value
Rate of interest7.80% - 12.90%
TenureUp to 30 years
Lowest EMI possibleRs. 720 Per Lakh
Processing feeUp to 0.50% of the loan amount
Foreclosure ChargesNil for floating rates
Penal Interest Rate2% per month

Buying a home is the dream of all, irrespective of age, gender, and financial background. Everyone desires and has ideas for their dream home. However, buying or constructing a house can be quite expensive considering the market rates. It gets quite intimidating at times without a financial strategy to manage your finances. Home Loans are massive amounts that you have to repay along with an added interest rate during your selected tenure. Different banks offer different home loan schemes to customers for different interest rates.

Bandhan Bank is a different bank in India that is known for offering home loans at affordable interest rates. If you intend to apply for a Bandhan Bank home loan, make sure you go through all their terms, conditions, and criteria beforehand. 

This article closely discusses all the Bandhan Bank home loan scheme details, including its features, eligibility criteria, and other necessary details that you need to keep in mind before playing for the loan.

Additional Info: How to get Pradhan Mantri Awas Yojana

Bandhan Bank Home Loan Features and Benefits

Different banks have different features when it comes to home loans, and different kinds of home loans are offered by the leading banks in India. Some features of the Bandhan Bank home loan that you must keep in mind before selecting a scheme for yourself are listed below.

  • Bandhan Bank home loan interest rate starts from 7.80%. The maximum interest rate applied to customers for home loans remains around 12.90%.
  • Similar to other banks, when you apply for a longer tenure, your monthly instalments decrease. On the other hand, when you choose a shorter tenure of around five years, your monthly instalments increase along with it.
  • Bandhan Bank allows its customers to repay the home loan amount for up to 15 years.
  • Having a good credit score for home loan is extremely essential. You have an excellent credit score; the bank is more likely to offer home loan tax benefits and other perks to you after your loan is approved.
  • Several insurance facilities are available that you can expect after your loan is approved by the bank.
  • Unlike many other leading banks in India, Bandhan Bank requires minimal documents for verification when you apply for a Bandhan Bank home loan.
  • A processing fee of around 1% of the loan amount is charged as per the finance policies of Bandhan Bank.
  • Bandhan Bank offers several home loan schemes to customers, such as the Suraksha home loan scheme, Sajavat home loan scheme, Suvidha home loan, and Su-awas home loan scheme. Different interest rates are applied to different schemes as per the policies.
  • You can use the Bandhan Bank Home Loan EMI Calculator to calculate your EMI before applying for a home loan. It will help you compare different schemes and choose the one that suits your requirements properly. 
  • Bandhan Bank offers several home loan schemes for customers with different goals and purposes. Different interest rates are applied for different home loan schemes. Therefore, it makes it easier for everyone to find a suitable Bandhan Bank housing loan from this range.

Additional Info: Looking for 60 Lakh Home Loan EMI? Check EMI & Apply.

Bandhan Bank Home Loan Interest Rates

Bandhan Bank offers several home loan schemes to customers. Bandhan Bank home loan interest rate differs from one scheme to the other based on the financial policies of the bank.

Go through the chart to compare and analyse different interest rates offered by the bank for different home loan schemes.

Scheme nameInterest Rate
Suraksha home loan scheme7.80%-12.90%
Sajavat home loan scheme10.65%-13.15%
Suvidha home loan10.15%-13.15%
Su-awas home loan11.50%-13.50%

Home loan interest rates can largely vary from one bank to the other. These are interest rates that are mostly applied to salaried people. For self-employed people, on average, an interest rate of around 12.90% is applied. The interest rate for Bandhan Bank housing loan differs based on the monthly income, credit score, other financial obligations, and other details.

Additional Info: You can also Check Banglarbhumi West Bengal Land Record

Compare Bandhan Bank Home Loan with Other Banks

Interest rates of Bandhan Bank, along with other banks,. differ based on the current repo rate. Before applying for a home loan, make sure you check out all the home loan schemes offered by the leading banks in India. It will help you go for the lowest interest rate along with checking whether you receive other tax benefits and rewards with the loan or not.

Bank NamesInterest Rates
Bandhan Bank7.80%
ICICI Bank8.10%
State Bank of India8.05%
UCO Bank7.90%
LIC Housing Finance7.99%
Kotak Mahindra Bank7.99%
HDFC Bank8.10%
Canara Bank8.05%
Bank of Baroda7.95%
IDFC First Bank9.05%
Union Bank of India7.90%
Axis Bank8.10%
DBS Bank7.55%
Punjab National Bank7.90%

Documents Required for Bandhan Bank Home Loan

There are several documents that are required by month and bank for verification purposes before they grant you a home loan. Some important Home Loan Documents that you need to keep while applying for a Bandhan Bank home loan include:

  • Your identity proof such as voter card, Aadhaar card, driving license, passport, PAN card is required by the bank.
  • Your address proof- electricity bills, water bills, telephone bills can be presented as address proof to the bank.
  • In order to apply for a Bandhan Bank home loan, you must present salary slips for the last three months while applying for the loan.
  • Your bank statements for the last six months are required as proof of income.
  • If you have any financial obligations at the moment, details of those loans’ repayment tenures and amounts must be presented to the bank.
  • Those who are self-employed are required to provide the bank with proof of the existence of their business. Balance sheets reflecting your loss and profit statements are required.
  • Salaried people need to submit property-related documents while applying.
  • In order to apply for the Bandhan Bank home loan, your age proof-birth certificate/ Voter ID/ Aadhar card must also be provided to the bank.

Additional Info: Looking for 40 Lakh Home Loan? Check EMI & Apply.

Bandhan Bank Home Loan Fees and Other Charges

When you apply for a Bandhan Bank home loan, several charges and fees are applied. Some of the most significant fees that you will have to pay are listed below:

ChargesDescription
Log-in Fee3,500/-
Administrative Fee0.25% to 2% based on your scheme
Processing FeeUp to 1% based on your scheme
Prepayment charges on floating loans
  • If an applicant falls under the individual category, no fees are charged.
  • For companies and firms, 2%+GST is applicable.
ROI Conversion charges0.50%-1.25%
Cheque bonus charges500/- + GST
CIC Charges for verification of the applicants’ financial documents 150/- per head + GST
Copy of property documents 50/- + GST
TCC Charges and search reports 2000/-

Additional Info: You can also Check AnyRoR Gujarat Land Record

Bandhan Bank Home Loan Eligibility Criteria

It is important to go through the eligibility criteria of the bank before you apply for a home loan to determine whether or not you are eligible for the loan. Some of the most important points that you need to keep in mind are listed below.

  • You must have a monthly salary of at least 25,000 in order to be eligible for a Bandhan Bank home loan scheme.
  • Both salaried and self-employed individuals are eligible for a home loan or plot loan.
  • The interest rate for self-employed people remains around 12%. On average, the interest rate varies from 6.9% to 13%.
  • Bandhan Bank allows its customers to repay the entire amount in the middle of tenure without charging any extra amount for the service.
  • The loan amount that you can borrow remains around four times your annual salary. For example, if you are and 40,000 per month, you can avail of a home loan of up to 20 lakh.
  • The minimum age to apply for a Bandhan Bank home loan is 23 years. The maximum age remains 65 years when it comes to home loans.
  • Only Indian residents are eligible to apply for a home loan at Bandhan Bank as per the policies.
  • The bank offers home loan balance transfer facilities. Therefore, you are allowed to shift your lender for a lower interest rate in the middle of your selected tenure. You can also transfer your home loan from another bank to Bandhan Bank if you wish.

Additional Info: Also Apply for Home Renovation Loan

Bandhan Bank Home Loan EMI Calculator

It is important to calculate your EMI before applying for the Bandhan Bank home loan. In order to calculate your monthly EMI before applying for a loan, make sure you use the online EMI calculator. In order to calculate your EMI, the steps that you need to follow her mentioned below:

  • Visit the official page of Bandhan Bank and find the online home loan EMI calculator.
  • Select the loan amount that you intend to borrow from the bank. This amount will directly affect your monthly EMI.
  • Select your preferred tenure.
  • Select the current interest rate offered by Bandhan Bank for your preferred home loan scheme.

After selecting all this information properly, your result will appear on the screen. You can try different combinations to compare home loan schemes before making the final call.

Additional Info: Also check ICICI Home Loan EMI Calculator

Bandhan Bank Home Loan Customer Care

In order to reach out to the customer care services of Bandhan Bank, dial their toll-free number- 18002588181, 03344099090 (paid).

You can also send an email to customercare@bandhanbank.com

Additional Info: SBI Home Loan Customer Care Number

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Bandhan Bank Home Loan - FAQs

✅ What is the minimum credit score for Bandhan Bank Home Loan?

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It is safe to have a credit score of 650 and above for better loan-approval chances.

✅ How much maximum amount can I get for a Home loan from Bandhan Bank?

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The maximum amount that you can borrow from the bank depends on your income. The bank grants a loan of up to 4 times your annual salary.

✅ Is Bandhan Bank a Nationalized bank?

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Bandhan Bank is a public limited commercial bank that was incorporated in Kolkata on December 23, 2014. The Central Bank issued an authoritative license to the bank to carry on the banking business across the country under Section 22.

✅ Is Bandhan Bank RBI approved?

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Yes. RBI approved Bandhan Bank and issued an authoritative license after it was incorporated in Kolkata in 2014.

✅ How safe is Bandhan Bank?

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Bandhan Bank is a safe bank that was authorised by the reserve bank of India as an agency to carry on banking business.

✅ How much home loan can I get on a 35000 salary?

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With a monthly salary of 35,000, you can get a loan of up to Rs.17 lakh.

✅ What is the maximum tenure of the Bandhan Bank home loan?

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The maximum tenure of the Bandhan Bank home loan remains to be 30 years.

✅ Do I need to provide collateral or security to avail myself a home loan from Bandhan Bank?

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No security or collateral needs to be provided by their borrowers in order to avail of a home loan.

✅ What is the Current Interest rate of Bandhan Bank?

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The current Interest rate of Bandhan Bank is 7.80%.

✅ What is the MCLR rate of Bandhan Bank?

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The MCLR rate of Bandhan Bank depends on the tenure. For a tenure of 1 month- 3 months, the rate remains around 8.49%. For a tenure of 6 months, the MCLR rate remains around 9.09%. For one year, the rate remains 9.45%, and for three years, the rate is 10.6% 

✅ Can I transfer my existing loan to Bandhan Bank Home Loans?

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Yes. If you decide to shift your home loan in the middle of your tenure and make Bandhan Bank your new lender, you need to apply for a home loan balance transfer scheme from the official page of the bank.

✅ What is the minimum salary for a Bandhan Bank home loan?

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In order to apply for a Bandhan Bank home loan, your monthly salary must be at least 25,000/- as per the policies.