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.
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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.
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Some of the most beneficial aspects of the Bandhan Bank home loan include:
Additional Info: Also check SBI Home Loan EMI Calculator
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 name||Interest Rate|
|Suraksha home loan scheme||6.40%-11.50%|
|Sajavat home loan scheme||9.25%-11.75%|
|Suvidha home loan||8.75%-11.75%|
|Su-awas home loan||11.50%-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% is applied. The interest rate for Bandhan Bank housing loan differs based on the monthly income, credit score, other financial obligations, and other details.
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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:
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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.
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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:
|Administrative Fee||0.25% to 2% based on your scheme|
|Processing Fee||Up to 1% based on your scheme|
|Prepayment charges on floating loans|
|ROI Conversion charges||0.50%-1.25%|
|Cheque bonus charges||500/- + 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/-|
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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.
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:
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
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 firstname.lastname@example.org
Additional Info: SBI Home Loan Customer Care Number
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It is safe to have a credit score of 650 and above for better loan-approval chances.
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.
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.
Yes. RBI approved Bandhan Bank and issued an authoritative license after it was incorporated in Kolkata in 2014.
Bandhan Bank is a safe bank that was authorised by the reserve bank of India as an agency to carry on banking business.
With a monthly salary of 35,000, you can get a loan of up to 17 lakh.
The maximum tenure of the Bandhan Bank home loan remains to be 15 years.
No security or collateral needs to be provided by their borrowers in order to avail of a home loan.
The current base rate of Bandhan Bank is 12.00%
The MCLR rate of Bandhan Bank depends on the tenure. For a tenure of 1 month- 3 months, the rate remains around 8.36%. For a tenure of 6 months, the MCLR rate remains around 8.75%. For one year, the rate remains 9.05%, and for three years, the rate is 9.99%
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.
In order to apply for a Bandhan Bank home loan, your monthly salary must be at least 25,000/- as per the policies.