Cosmos Bank

Cosmos Bank Home Loan

Apply Cosmos Bank  Home Loan

About Cosmos Bank Home Loan

Cosmos Bank, one of the oldest Urban Co-operative Banks, was founded in 1906 by Shri Krishnaji Sadashiv Gorfe and Shankar Hari Barve. Sahitya Samrat. It is one of the first co-operative banks in India to introduce the Core Banking System in all its 140 branches and the software applied is Finacle-Infosys Core Banking Software.

The Bank was awarded the 'multi state' status during the year 1997. It currently operates in seven states, i.e., Karnataka, Andhra Pradesh, Telangana, Tamilnadu, Maharashtra, Gujarat, and Madhya Pradesh through its 140 branches.

Cosmos Bank offers services in segments of personal banking, corporate banking, and NRI banking. They also have an array of loan products of which Home Loan is very popular. The Cosmos Home Loan is designed to help you get that perfect home you always dreamt of, at an affordable price with minimum fuss and maximum comfort.

Cosmos Bank Home Loan

Interest rate


Loan tenure

20 Years

Loan turnaround period

8 - 15 days

Loan to value (LTV)

Get loan up to 85% of project cost

Who can apply?

  • Self-employed professionals
  • Salaried individuals
  • Indian residents


Up to 4 applicants are allowed as co-applicants

Lowest EMI

877 Per Lakh

Why Cosmos Bank Home Loan?

With Cosmos Bank Home Loans, you get:

  • Simple documentation and quick processing
  • Reasonable processing fee
  • Competitive rate of interest calculated on daily reducing balance
  • No pre-payment or part prepayment charges
  • No hidden charges
  • Easy and instant loan processing
  • Takeover of loan from other banks

Features and Benefits of Cosmos Bank Home Loan

Following are the key features and benefits of the loan:

  • Purpose: For purchasing flat, row houses, and for the construction of houses
  • Loan quantum: Up to 70 Lakhs
  • Rate of interest: 8.65% onwards
  • Repayment tenure: Up to 20 years
  • Special discounted interest rate for women
  • Guarantor: Two guarantors will have to be provided which are acceptable to the bank
  • Equitable mortgage of the house property is taken as security
  • Comprehensive insurance cover is required for the flat/property
  • All title documents required

Cosmos Bank Home Loan Interest Rates

The interest rates for Cosmos Bank Home Loans are as follows:

Cosmos Home Loan Scheme

For women


For others


Cosmo Home Delight Scheme (Top-Up)

For all customers


Cosmo Gruha Sanjeevani Reverse Mortgage Loan

For all customers


Types of Cosmos Bank Home Loans

Cosmos Bank offers the following types of Home Loans:

Cosmos Home Loan Scheme

  • Purpose of taking the loan: For purchase of ready or under construction property, construction of a new house or flat or remodeling of the existing house. Loan is given even to purchase row houses and villas. If the loan is availed for purchase of old house/flat, then the age of the property should not be more than 20 years.
  • Eligibility: Both Salaried individuals and self-employed persons are eligible for the loan
  • Interest: Competitive rate of interest to suit one's requirement. Interest rate starts from 8.60% for women applicants and 8.65% for others.
  • Quantum: The maximum quantum of the loan offered is 70 Lakhs. Margin stipulated is from 20% to 30%. For purchase of new house/flat and for construction of house 80% of the project cost will be sanctioned. For purchase of old house/flat 70% of the value of the property or the value as per agreement of sale whichever is lower will be sanctioned. The loan amount includes registration charges, processing charges, mortgage expenses, share money, and stamp duty. To increase the quantum of loan spouse, parents, or children having stable income can be included as co-borrowers.
  • Repayment: The maximum repayment period is 20 years. For transfer of Home Loan liability from other banks the unexpired period of the Home Loan or 20 years, whichever is earlier, will be the repayment period. There are no pre-closure charges or part pre-payment charges if the floating rate of interest is opted for. If the fixed rate of interest is opted for then, pre-closure or part pre-payment charges at 1% of the loan outstanding amount will be collected if the loan is pre-closed before 3 years. If pre-closed after 3 years the pre-closure charges will not be applied. So, if one has opted for a floating rate of interest, then any surplus fund available can be credited to the loan account and the interest burden is reduced. Before deciding the repayment period check for the equated monthly instalment (EMI) with the MyMoneyMantra EMI Calculator to know the cost of the Home Loan and choose the repayment period which is convenient and which is not going to be a financial burden.
  • Processing charge: Processing charges at 1% of the loan amount and share money at 0.50% with a maximum of 5,000. 
  • Security: Mortgage of the asset created out of the loan proceeds, i.e., new flat/purchased/house constructed or old house/flat purchased or the property for which the renovation and repairs have been done. The property should be in the name of the applicant or their spouse. In case the property is in the name of the spouse, then spouse should be co-applicant to the loan. Property should be insured for fire and other natural calamities and bank clause should be noted in the insurance policy. Insurance should be renewed yearly and the proof produced to the bank. Personal guarantee of two guarantors acceptable for the bank should be given.

Other conditions:

  • The loan should be used for the purpose mentioned in the loan application
  • Option of both floating and fixed rate of interest is available. If the floating rate of interest is opted for, then the bank will apply the prevailing rate of interest on reducing balance. If a fixed rate of interest is opted for then the rate of interest will be reset every three years.
  • If the applicant intends to avail a loan for registration, stamp duty, processing fees and mortgage expenses, the same should be mentioned in the loan application along with the Home Loan amount applied for. This, however, is optional. If the applicant intends to avail only the Home Loan excluding the other charges, then even that is allowed.
  • The premium towards the insurance cover can also be added to the loan amount
  • The bank will have the option to increase/decrease the EMI or repayment tenure whenever the interest rates are revised.
  • If opted for a fixed rate, the interest rate will be reset every 3 years. In such case, if the borrower is not happy with the reset rate, then they can request for termination of the loan within 15 days. The borrower has to repay the entire outstanding loan amount along with interest and other charges before termination of the loan.
  • Alternate security of the same value in the form of alternate property, LIC policy, share certificates are permissible if the mortgage of the property for which the bank has financed is not possible.
  • In case of a delayed payment of EMI 2% over and above the applicable interest will be applied on the outstanding liability.
  • Repayment history of the applicant is very important to be eligible for the Home Loan

Cosmos Home Delight Scheme (Top-Up)

  • Purpose of loan: This loan is designed to fund the requirement that follows after the construction of the home or purchase of a home. It could be furnishing, interior decoration or renovation of the house. Doing this not only beautifies one's home but also will increase the resale value of the property. The loan is given of renovation/repairs of the existing home and to take up work like changing the flooring, rewiring, painting, woodwork and for taking up regular repair work.
  • Eligibility: Salaried individuals, self-employed professionals, business owners. Applicant should own a house or flat. The borrower/co-borrower should have availed Cosmos Home Loan to be eligible for this loan and the repayment must be made of at least 25%. The applicant must have a satisfactory repayment history with no default. The net take home salary for the salaried individuals should not be less than 50% after providing for the EMI of the proposed loan.
  • Quantum: The maximum loan amount is 5 Lakhs. It is given both in the form of Term Loan and overdraft limit. If the borrower is eligible for 5 Lakhs, then can avail 2 Lakhs as overdraft facility and the remaining as Term Loan. If the eligibility is less than 5 lakhs, then only Term Loan will be given.
  • Interest: Starting at 10%
  • Repayment: The loan can be either by way of Term Loan or overdraft or a combination. Term Loan can be paid in easy instalments by way EMI and the overdraft has to be reviewed every 15 months.
  • Processing charges: Processing charges at 0.25% of the loan amount and share money at 0.50% of the loan amount.
  • Security: This is an unsecured loan. However, two guarantors acceptable to the Bank are required. Guarantors for Home Loan can be guarantors for home delight loan also. Change in guarantors for this loan is also permitted.

Cosmos Griha Sanjeevani - Reverse Mortgage Loan

  • Purpose of loan: The loan helps to generate regular income for senior citizens either by way of monthly/quarterly or half-yearly instalment or a lumpsum when required. This loan is designed to meet the requirement of senior citizens. If for some reason, their property cannot be liquidated, senior citizens can go for this reverse mortgage to get a regular monthly income for their subsistence. Even if the property can be liquidated, but the senior citizen does not intend to sell the property but want to generate regular income from the property, then also reverse mortgage loan can be availed. Cosmos Bank will update the customers with all the features and will guide them at every step. Senior citizens can avail this loan which has simple processing and documentation procedure.
  • Eligibility: Senior Citizens who are in need of regular income for their subsistence. The applicant should be a resident Indian above 60 years of age. Spouse is also eligible for financial assistance in the form of co-borrower.
  • Margin: 30% of the value of the property
  • Repayment: If the applicant is below 70 years of age then the repayment period is 15 years and if the applicant is above 70 years and up-to 75% years, the repayment period is 10 years.
  • Interest: Starting at 11%
  • Processing charges: Low processing charges
  • Security: Mortgage of the house for which the loan is availed. Property should be in the name of the applicant or jointly with the spouse or the co-applicant. The property should have a clean and marketable title.

Eligibility for Cosmos Bank Home Loan

To reduce the processing time involved in availing Cosmos Bank Home Loan, one should approach the bank well prepared by checking the eligibility criterion beforehand. Bank will have set certain guidelines to check one's eligibility for the loan. 

The eligibility criteria are as mentioned below:

  • Cosmos Bank offers Home Loan to salaried individuals and self-employed professionals and business owners.
  • Salaried individuals should have been confirmed in the service and self-employed personnel and business owners should have been in the business for at least a minimum of 2 years. This is to assess the income stability of the applicant.
  • The applicants should necessarily have an account with Cosmos Bank to avail the loan facility.
  • If the applicant intends to purchase the old flat/house, then the age of the property should not be more than 20 years.

Documents Required For Cosmos Bank Home Loans

Cosmos Home Loan Scheme 

  • Latest Photograph
  • Photo Identity Proof
  • Residence proof of the Applicant(s) as well as Guarantors
  • Income proof for salaried persons: Salary slip for the last 3 months, bank statement for the last 6 months.
  • Income proof for businesspersons: ITR for 3 years, profit & loss of last 2 years, balance sheet & business bank account statement for the last 6 months.
  • Legal documents for creating a mortgage

Cosmo Home Delight Scheme (Top-Up)

  • Loan application as per Cosmos Bank loan policy
  • Fresh agreement or undertaking
  • Additional record details for change in guarantors

Why Apply for the Cosmos Bank Home Loan through MyMoneyMantra?

There is the process of submitting all the documents mentioned above for applying for the loan. Bank will take a decision only after verifying the eligibility criterion, valuation of property, and legal scrutiny of the property documents. Having a legal marketable title to the property is mandatory. Periodical visits to the bank to check the status of the application becomes a tedious task, especially for senior citizens. MyMoneyMantra makes the whole process simple and hassle-free if the loan is applied through our platform. MyMoneyMantra is a one-stop solution for all your loan requirements.

How to Apply for Cosmos Bank Home Loan at MyMoneyMantra?

The procedure for applying for the loan through MyMoneyMantra is very simple. Follow the simple steps mentioned below and make the whole process of availing Home Loan less complicated:

  • Go to MyMoneyMantra home page and click on Home Loan option
  • Key in the required details
  • Once all the mandatory details are provided, the eligibility will be calculated. On trying different variations, one can get the best deal.
  • Once the details are shared, the team from MyMoneyMantra will get in touch with you to understand your need in detail and help you through the process of getting a Home Loan seamlessly.

How to Calculate the Cosmos Bank Home Loan EMI?

You can use MyMoneyMantra's EMI Calculator to do this job in a jiffy. EMI Calculator is a tool which enables calculation of EMI of a loan beforehand. With this, one can decide the amount of loan to be available or to choose the repayment period to fix a suitable EMI in an accurate and fast manner.

You just need to click on the Financial Tools, select EMI Calculator, enter the details required, and then finally click on the Calculate button to get the result.

Cosmos Bank Home Loan Processing Fee and Charges

The bank charges the following fees and charges on Home Loans:

Fees or Charges Levied Amount

Loan Processing Fees

  • Up to 1% of loan amount + applicable taxes for a loan up to 10 Lakhs.
  • 0.50% of loan amount + applicable tax for loan amount above 10 Lakhs.

Prepayment charges


Stamp duty and other statutory charges and fees

As per applicable laws and guidelines

Legal or incidental charges


Other Products Offered by Cosmos Bank

Apart from housing loans, the bank also offers the following products:

Cosmos Two wheeler Loan

Cosmos Car loan

Cosmos Credit Personal Loan

Cosmos Education Loan

Cosmos Property Mortgage Loan

Cosmos Gold Loan

Cosmos SME Loan

Cosmos Professionals Loan

Cosmo Working Capital Loan Scheme

Vendor Finance

Cosmo Krushi Market Finance

Cosmos Women Loan Scheme

Cosmo Medical Loan Scheme

Loan Scheme for SHG/JLG

Lease Rental Discounting Scheme

Foreign Exchange Services

Mutual Funds Services

Demat Services

Regular Saving Account

Cosmo Regular Current Account

Cosmo Kids Saving Account

Cosmo Premium Salary  Saving Account

Cosmo Premium Plus Saving Account Scheme

Cosmo Royale Saving Account Scheme

Cosmo Premium Current Account

Cosmo Premium Plus Current Account

Cosmo Royale Current Account

Cosmo NRI Premium Plus Savings Account

Cosmo FCNR (B) Royale Deposit

Cosmo Max Yield NRO Deposit

Cosmo FCNR (B)

Cosmo FCNR (B) Premium

Cosmo FCNR (B) Double Bonanza

Cosmo Youth Saving Deposit Scheme

80 C Income Tax Deposit Scheme

Flexi Fixed Deposit Scheme-Term

Deposit Scheme Insurance from D.I.C.G.C

Cosmo Care Deposit Scheme

Cosmos Bank - Customer Care

For more details on Home Loans, contact the customer care number of Cosmos Bank:

020 6708 6708

You can also try the toll-free number: 18002330234

FAQs - Cosmos Bank Home Loan

How to apply for Cosmos Bank Home Loan?

You can get in touch with them by calling their customer centers or fix an appointment with them through their official website. You can also visit their branches. For instant processing, you can apply through MyMoneyMantra.

What are the maximum amount of loan that can be availed?

The maximum loan provided is 70 Lakhs. It is calculated at 80% of the estimated cost for a new project and 70% of the loan amount for the purchase of an old property.

Who can be co-applicants to the Home Loan?

Immediate relatives that are spouse, father, mother, and children can be co-applicants. Siblings can also be co-applicants if the property is in joint names with them.

What is the processing fee charged?

Processing charge is up to 1% of the loan amount.

What are the documents that have to be submitted while applying for the loan?

The regular documents like completed loan application with an attested photograph, address proof, identity proof, age proof, proof of income, property documents, and a cheque for processing fee.

How is interest on loan account charged?

Interest is charged on reducing balance at monthly intervals.

Having taken a Home Loan, can one opt for top up loan without offering additional security?

Top-up loan up-to 5 Lakhs will be provided once 25% of the existing Home Loan has been repaid.

Should the property be insured?

The property created out of the loan has to be insured for fire and other natural calamities during the pendency of the loan. The insurance has to be renewed every year and the proof for verification has to be produced to Cosmos Bank.

Is there any concession on interest rates for women borrowers?

Yes. The bank offers a concession of 5 basis points on housing loans. The rate starts at 8.60% for women and at 8.65% for other borrowers.

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