Calculate Saraswat Bank Home Loan EMI

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Total EMI


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  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹50,00,000
  • 8.6%
  • ₹0
  • 30

Saraswat Bank Home Loan Details

Saraswat Co-operative Bank Ltd. (popularly known as Saraswat Bank), is an urban co-operative bank operating since 1918. The roots of the bank lie in the state of Maharashtra. It is the first co-operative bank to offer merchant banking services. The bank also received a license to carry out a foreign exchange business in the year 1979.

The bank offers services that are technically supported while keeping the tradition alive as the bank intends to give the best of both worlds to its customers. The bank offers an array of retail products and services, and Saraswat Bank Home Loan is one such retail product.

You can now cherish your dream of owning a home with Saraswat Bank's Vastu Siddhi Home Loan. The bank offers the loan at a competitive interest with flexible repayment options.

The bank offers various types of Home Loans. They are:

You can also apply for Saraswat Bank Loan Against Property Online and check eligibility, interest rates and necessary documents required. 

HDFC Home Loan Offer

Saraswat Bank Home Loan EMI For Different Loan Amounts

The lowest EMI for Saraswat Bank Home Loan is Rs. 874 per lakh (for 20-year tenure @ 8.60% rate of interest) as on date.

The table below will give details of EMI for different loan amounts for different tenures at 8.60% rate of interest and  9.20% rate of interest:

Loan Amount (in )

EMI @8.60% ROI 

EMI (in )
5 years10 years15 years20 years
10,00,000Rs. 20,565Rs. 12,452Rs. 9,906Rs. 8,742
25,00,000Rs. 51,412Rs. 31,130Rs. 24,765Rs. 21,854
50,00,000Rs. 1,02,824Rs. 62,261Rs. 49,531Rs. 43,708

Loan Amount (in )

EMI @9.20% ROI 

EMI (in )
5 years10 years15 years20 years
10,00,000Rs. 20,856Rs. 12,776Rs. 10,262Rs. 9,126
25,00,000Rs. 52,139Rs. 31,940Rs. 25,655Rs. 22,816
50,00,000Rs. 1,04,278Rs. 63,880Rs. 51,310Rs. 45,631

With the table showing EMI for two different interest rates, you can get an idea that even a small difference of 0.25% in the rate of interest can have a great impact on the cost of the loan if the tenure is longer. You would have paid more than double the actual loan borrowed if you have chosen a longer tenure.

HDFC Home Loan Offer

Features of Saraswat Bank Home Loan

The features of Saraswat Bank Home Loans are mentioned below:

1. Vastu Siddhi Home Loan

  • Salaried individuals, business owners, and professionals, who have a regular income are eligible for the loan.
  • The minimum work experience required for salaried employees is 2 years.
  • A loan is provided for the construction/purchase of a new house, purchase of a resale house/flat, the purchase of a new flat.
  • If a loan is availed for the construction of a house, then the cost of the land should not exceed 65% of the overall cost of the project and the project should be completed within 24 months.
Loan quantum
  • The loan amount is decided based on the valuation of the property and the income of the applicant. For salaried persons 65 times the net monthly income (average of the last 3 months will be considered) and for the self-employed, the quantum will be 5 times the gross cash accruals (the average of the last 3 years will be considered).
  • The value of the property will be agreement cost + stamp duty+ registration in the case of purchase of a new house or flat and cost of the site + construction cost +stamp duty + registration in the case of construction. If it is a repurchased property that is more than 3 years old, the value will be as per the valuation report by the bank's panel valuer.
  • 80% of the value of the property so arrived or the quantum as per the income, subject to a maximum of 70 Lakhs will be the loan quantum.

The rate of interest offered is floating:

  • 8.60% p.a. for a loan up to 28 Lakhs
RepaymentThe maximum repayment tenure offered is 20 years
Processing charges
  • There are no processing charges for a loan up to 28 Lakhs
  • For loans above 28 Lakhs and up to 50 Lakhs, a processing charge of 10,000 will be collected.
  • For a loan above 50 Lakhs, processing fee of 20,000 will be collected.

A pre-sanctioned car loan will be granted for all Vastu Siddhi Home Loan customers. This facility is available for customers who avail of a minimum Home Loan of 50 Lakhs and have a net take-home salary of 30,000 after providing for all the commitments, including the Home Loan EMI. The maximum loan permitted will be 6 Lakhs.

Also, a pre-sanctioned credit card will be provided for Vastu Siddhi Home Loan customers. The credit limits set will be as follows:

  • For a Home Loan up to 25 Lakhs: 50,000
  • For a Home Loan above 25 Lakhs and up to 50 Lakhs: 1 Lakh
  • For a Home Loan above 50 Lakhs and up to 70 Lakhs: 2 Lakhs

2. Home Loan for NRIs

The features of Home Loan for NRIs will be similar to the Home Loan provided for resident Indians, but with a few additional conditions as detailed below:

  • Non-Resident Indians and Persons of Indian Origin are eligible for the loan
  • In addition to the security by way of equitable mortgage of the property acquired with the loan, a lien on other assets of the borrower will be stipulated on a case to case basis, if required.
  • The interest on the Home Loan will be as per the guidelines of RBI from time to time
  • The repayment for the loan should be made by inward remittances through normal banking channels. The repayment can also be done through funds available in NRE/NRO accounts or through the rental income of the property. Close relatives of the borrower, as defined under Section 6 of the Companies Act 1956, are allowed to make the repayment of the EMI along with other charges through their local account.

3. Home Loan Top-up

  • For repayment of housing loan debt
  • For financing repairs and renovations expenses
  • The maximum quantum is 25 Lakhs
  • The regular Home Loan and Home Loan Top-Up together should not exceed 70 Lakhs.
RepaymentThe maximum repayment period is 10 years
  • For a loan up to 5 Lakhs: 8.60% p.a.

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

What is an EMI Calculator?

EMI Calculator is a financial tool that is user-friendly and enables calculation of EMI with three inputs, i.e., loan amount, loan tenure, and rate of interest. It saves you the effort to calculate the EMI manually, which is a very strenuous and time-consuming process. Also, you may not get the exact EMI on manual calculation as there are chances of making mistakes.

The formula adopted to calculate EMI is:

P*r* (1+r) ^n/([(1+r) ^n]-1)

P stands for Principal

R stands for rate of interest

N stands for the loan tenure

Additional Info: How to get Pradhan Mantri Awas Yojana

Factors That Affect the Saraswat Bank Home Loan EMI

EMIs that are fixed at the time of availing a loan do not remain constant throughout the repayment tenure. There are various factors that amount to the fluctuation in the EMI.

  • Change in rate of interest: If you have opted for a floating rate of interest, the EMI will change as and when there is a change in the rate of interest. If the rate of interest is higher, then the EMI will be higher. If there is a decrease in the rate of interest, then there will be a decline in the EMI level.

If you have opted for a fixed rate of interest, then the EMI will change when the rate of interest is reset over a period of time that differs from bank to bank.

If you have opted for a combination of fixed and floating rates of interest, the Rate of Interest on Home Loan will be fixed initially and then it is converted to floating after a pre-set period. When the transition happens, the EMI automatically will change.

  • Prepayment of the loan amount: When you make a prepayment for the Home Loan, the principal amount reduces correspondingly. You can then either opt for a reset in the EMI or opt for lowering the tenure of the loan. If you intend to balance your monthly budget, then you can go for an EMI reset, else you can opt for reducing the tenure.
  • Change in tenure: Sometimes, you would want to go for a change in the loan tenure. Assume that you have opted for a shorter tenure initially based on your affordability at the time of availing the loan and later, due to other commitments, you may not be able to pay the same EMI. If you negotiate with your bank for the change in tenure, there will a change in the EMI as well.

When you opt for a change in loan tenure along with the balance transfer, then the EMI will automatically change.

  • Step-up EMIs: In step-up EMIs, initially the EMIs will be kept low and will increase periodically through the tenure of the loan.

Additional Info: Also Check LRD Loan

Tips to Decide the Right EMI for Saraswat Bank Home Loan

While deciding the right EMI, the basic things you have to consider are your affordability and the compliance of EMI to the Net Monthly Income ratio.

  • You make a list of all your present commitments and assess the residual amount available to provide for the Home Loan EMI.
  • Once you have the affordable amount, use the EMI Calculator and try several variations till you arrive at the interest and the loan amount that would match your affordable amount.
  • If you have any additional sources of income, like the rent, dividends, and deposit interest, include these while arriving at the affordable amount.
  • The loan amount is based on the value of the project. There will be a percentage of margin set for which you will have to provide.
  • You should have an idea of how you would arrange for the margin amount before applying for the loan. If you are able to make a higher down payment, you can reduce the loan amount and the EMI.
  • Choose tenure based on the loan amount and your age. If income from all the sources will enable you for a higher monthly payout, choose the shortest tenure that will match the available funds to provide for the EMI.
  • If you need a higher amount and your income is not sufficient for the kind of amount, then your family members with regular income and a good score can be co-borrowers for the loan and their income will be considered to arrive at the Home Loan Eligibility.

In a nutshell, you try various options to choose an EMI that will not put you into a financial crisis later in your life.

Additional Info: Also check SBI Home Loan EMI Calculator

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

Saraswat Bank Home Loan EMI Calculator FAQs

✅ What are the different types of Home Loans that Saraswat Bank provides?


Saraswat Bank provides the following types of Home Loans:

  • Vastu Siddhi Home Loan
  • Home Loans for NRIs
  • Home Loan Top-up

✅ What is the rate of interest charged for Saraswat Bank Home Loan?


Saraswat Bank charges slab interest for the Home Loans:

  • For a loan up to  28 Lakhs, the rate of interest, is 8.60% p.a.
  • For a loan above  28 Lakhs and up to  70 Lakhs, the rate of interest charged is 8.75% p.a.
  • For a top-up loan of up to  5 Lakhs, the rate of interest is 8.60% p.a.
  • For a top-up loan above  5 Lakhs, the rate of interest is 8.75% p.a.

✅ How does the EMI Calculator work?


The Home Loan EMI Calculator calculates the monthly payout based on the loan amount, loan tenure, and the rate of interest. You can get the exact EMI for the loan amount required. You will have the benefit of comparing the best options based on the loan eligibility and your requirement so that you can make the right choice.

✅ Is there an option to recalculate the EMI based on the pre-payments?


Yes. With MyMoneyMantra EMI Calculator, you have the option to calculate the pre-payment EMI using the Prepayment Calculator. So, you can exactly understand the EMI change with the prepayments made.

✅ What is the loan tenure that is offered by Saraswat Bank for Home Loans?


The maximum repayment provided by Saraswat Bank for Vastu Siddhi Home Loan is 20 years and for Home Loan Top Up, it is 10 years.

✅ What is Pre-EMI?


Some banks give the option of paying the interest on the disbursed only during the construction or acquiring of the property. This payment of only interest prior to the commencement of regular EMI is pre-EMI.

✅ Will there be a difference in the EMI calculated by the EMI Calculator and the bank EMI?


Yes. There can be a slight difference in the EMI arrived by the EMI Calculator and the bank EMI. You would have calculated the EMI for a loan amount that you desire to avail, but when the loan is actually sanctioned, if the loan amount varies, then the EMI arrived at by you beforehand and the bank EMI will vary.