Cosmos Bank Home Loan Interest Rates - Updated in March 2025

Cosmos Bank, founded in 1906, is one of India’s oldest Urban Co-operative Banks. It has served for over 117 years and has more than 20 lakh happy customers. The bank has 170 branches in 7 states. It offers individual and business clients various banking services, including different deposit schemes and loans. Cosmos Bank provides home loans with interest rates starting at 7.45% annually.

The maximum loan amount is ₹140 Lakhs, and the repayment period can be up to 20 years. The interest rates can change based on the loan amount and the borrower’s credit score.
For female borrowers, the Cosmos Bank home loan interest rate begins at 8.25%. Senior citizens can get home loans at an interest rate of 7.35%. Non-resident Indians (NRIs) can also apply for home loans, and their interest rates are similar to those of resident Indians.

To get the lowest Cosmos home loan interest rate, the borrower should have a credit score of 800 or more. This article will discuss the Cosmos Bank Home Loan interest rates in detail so that you can make an informed decision. So, let us begin.

Cosmos Bank Home Loan Interest Rates for Women and Benefits 

Cosmos Bank offers home loans with attractive interest rates, especially for women. The interest rates are determined based on the applicant’s CIBIL score. Below is a table showing the Cosmos Bank interest rates for home loans for women:

CIBIL score	Rate of Interest
Upto ₹35 Lakhs
Above 800	7.70%
Above 750 to 800	8.05 %
Above 700-750	8.40 %
Below 700	8.95%
Above ₹35 Lakhs  to ₹70 Lakhs
Above 800	8.10 %
Above 750 to 800	8.45 %
Above 700-750	8.80 %
Below 700	9.20 %
Above ₹70 Lakhs to ₹140 Lakhs
Above 800	8.60%
Above 750 to 800	8.85%
Above 700-750	9.10%
Below 700	9.60%

Cosmos Bank Home Loan Interest Rates for Self-Employed

Cosmos Bank offers competitive home loan interest rates for self-employed individuals. The rates are determined based on the applicant’s CIBIL score. Below is a table showing the interest rates for self-employees:

CIBIL score	Rate of Interest
Upto ₹35 Lakhs
Above 800	7.70%
Above 750 to 800	8.05 %
Above 700-750	8.40 %
Below 700	8.95%
Above ₹35 Lakhs to ₹70 Lakhs
Above 800	8.10 %
Above 750 to 800	8.45 %
Above 700-750	8.80 %
Below 700	9.20 %
Above ₹70 Lakhs to ₹140 Lakhs
Above 800	8.60%
Above 750 to 800	8.85%
Above 700-750	9.10%
Below 700	9.60%

Cosmos Bank Home Loan Interest Rates for Salaried

For salaried individuals, Cosmos Bank provides attractive home loan interest rates. The rates are also based on the applicant’s CIBIL score. Below is a table showing the interest rates for salaried:

CIBIL score	Rate of Interest
Upto ₹35 Lakhs
Above 800	7.70%
Above 750 to 800	8.05 %
Above 700-750	8.40 %
Below 700	8.95%
Above ₹35 Lakhs to ₹70 Lakhs
Above 800	8.10 %
Above 750 to 800	8.45 %
Above 700-750	8.80 %
Below 700	9.20 %
Above ₹70 Lakhs to ₹140 Lakhs
Above 800	8.60%
Above 750 to 800	8.85%
Above 700-750	9.10%
Below 700	9.60%

Cosmos Bank Home Loan Interest Rates for NRI

Cosmos Bank offers attractive home loan options for Non-Resident Indians (NRIs). These loans include various repayment choices and reasonable interest rates, making it easier for NRIs to own a home in India. Below is a table showing the interest rates for NRIs:

CIBIL score	Rate of Interest
Upto ₹35 Lakhs
Above 800	7.70%
Above 750 to 800	8.05 %
Above 700-750	8.40 %
Below 700	8.95%
Above ₹35 Lakhs to ₹70 Lakhs
Above 800	8.10 %
Above 750 to 800	8.45 %
Above 700-750	8.80 %
Below 700	9.20 %
Above ₹70 Lakhs to ₹140 Lakhs
Above 800	8.60%
Above 750 to 800	8.85%
Above 700-750	9.10%
Below 700	9.60%

Feature and Benefits of Cosmos Bank Home Loan

Cosmos Bank has several features and it also provides several benefits. Some of them are:

Features of Cosmos Bank Home Loan

1. Loan Quantum

The maximum loan amount offered by Cosmos Bank is up to ₹140 Lakhs. This high loan quantum is a significant advantage as it allows you to afford a home that meets your needs and preferences. Whether you’re looking at a modest apartment or a luxurious villa, this substantial loan amount can cover a significant portion of the property’s cost.

2. Rate of Interest

Cosmos Bank offers competitive interest rates starting from 8.25%. A lower interest rate means lower Equated Monthly Installments (EMIs), making the loan more affordable. It also means you will pay less over the life of the loan. This competitive Cosmos Cooperative Bank home loan interest rate can significantly impact your home loan journey.

3. Repayment Tenure

The bank provides a 20-year maximum payback duration.  A longer tenure means lower EMIs, which can make the loan more affordable and less of a burden on your monthly budget. It also provides you with greater flexibility in managing your finances.

4. Fast Processing

Cosmos Bank promises easy and immediate processing of the loan. This means you can move into your dream home sooner rather than later. The bank’s efficient processing system ensures that all the necessary checks are done swiftly and the loan amount is disbursed to your account as soon as possible.

5. Loan Margin

For new flats, the bank extends up to 80% of the total value of the flat. You must only arrange for 20% of the property’s cost upfront. This feature significantly reduces the initial amount you need to arrange, making owning a home less financially stressful.

6. Guarantors

The bank requires two guarantors acceptable to the bank. Guarantors provide an additional layer of security for the loan. In case of any default, the guarantors are legally obligated to repay the loan. This requirement ensures that the bank has additional avenues for loan recovery, thereby protecting its interests.

Benefits of Cosmos Bank Home Loan

1. Loan Takeover Facility

You may transfer your existing house loan from another bank or financial institution to the bank using a service they offer.

2. Special Discounted Interest Rate for Women

It provides a special reduced cosmos bank home loan interest rate for women to promote home ownership among women. This encourages gender parity in house ownership by lowering the loan cost for women and enabling them to become homeowners.

3. No Prepayment Charges

Cosmos Bank does not levy any prepayment charges. If you have some extra cash, You won't be charged extra if you repay your loan earlier than expected. This feature allows you to manage your loan as per your financial situation and potentially save on interest costs.

4. Zero Foreclosure Fee

Cosmos Bank does not charge any foreclosure fee from the third year onwards. This means you can close your loan early without any penalties if your financial situation allows it. This feature provides you with more control over your loan repayment strategy.

5. Comprehensive Insurance Cover

Cosmos Bank mandates that the apartment or property be fully insured. This guards against unanticipated events like theft, damage, and natural calamities for your house. You may rest easy knowing that your money is safe with this requirement.

6. No Hidden Charges

The bank prides itself on its transparency, guaranteeing that there are no concealed fees.

How to Apply for Cosmos Bank Home Loan?

To apply for a Cosmos Bank Home Loan, follow these steps:

Step 1: Check Your Eligibility 

Make sure you first fulfill the requirements for bank eligibility. Professionals who work for themselves or are salaried can apply.

Step 2: Gather Your Documents

You will need to submit the following documents:

• Latest Photograph

• Photo Identity Proof

• Residence proof of the Applicant and Guarantors

• Income documents (salary slips, bank statements, P&L statements, balance sheet, ITR statement, etc., as applicable)

• Property documents

• Legal documents

Step 3: Submit Your Application 

You can apply for a house loan as soon as your paperwork is complete. The bank allows a repayment period of up to 20 years.

Step 4: Receive Your Loan 

Once your application is approved, the sum of the loan will be disbursed. The bank can provide a loan of up to ₹140 Lakhs.

Cosmos Bank Home Loan Eligibility

The eligibility criteria for a home loan from Cosmos Bank:

1. Age Requirement

Typically, applicants should be at least 21 years old and at most 65 years at loan maturity.

2. Credit Score

Having a good credit score might lead to more advantageous interest rates and improve your chances of getting approved for a loan.

3. Employment Status

Both salaried employees and self-employed individuals are eligible to apply.

4. Income Level

Your income is critical in determining your loan amount. While the bank hasn’t specified an exact income requirement, your ability to repay the loan based on your income is considered.

5. Property Value

The value of your purchasing property also impacts your eligibility. For a new flat, the bank can provide a loan of up to 80% of the flat’s total value. For a resale flat, the loan amount can be up to 70% of the agreement cost or valuation, whichever is less.

6. Guarantors

You will need to provide two acceptable guarantors to the bank.

Document Required of Cosmos Bank Home Loan

To apply for a home loan from Cosmos Bank, there are several documents you will need to gather:

1. Loan Application

You must submit a filled-out home loan application form.

2. Proof of Identity

This could be your Aadhar Card, PAN Card, Passport, Driving License, Voter ID card, or any other ID card issued by the Government.

3. Proof of Address

You can use your electricity bill, Aadhar Card, PAN Card, driver's License, Passport, Voter ID card, etc to confirm your current residential address.

4. Proof of Income

In case you get a salary, you must have your pay stubs from the preceding three months and your bank statements from the past six months. Your balance sheet, income tax returns (ITR) for the last three years, and your profit and loss statement are required if you work for yourself.

5. Property Documents

You also need to submit all the documents related to your property.

Cosmos Bank Home Loan Comparison With Other Banks

Below is a comparison of the Cosmos Bank Home Loan with other top banks based on their interest rates:

S. No.	Bank/ NBFC Name	Interest Rate
1	Axis Bank	9.00% – 14.00%
2	Aditya Birla Capital	9% – 12.50%
3	Bandhan Bank	8.65% – 13.65%
4	Bank of Baroda	8.50% – 10.60%
5	Bank of India	7.80% – 9.65%
6	Bank of Maharashtra	8.40% – 10.80%
7	Cosmos Bank	7.70% - 9.60%
8	Central Bank of India	8.45% – 9.20%
9	Citibank	8.45%-14%
10	Corporation Bank	8.60% – 11.20%
11	Dena Bank	8.40% Onwards
12	Federal Bank	10.15% – 10.30%
13	Fullerton Bank	9.50% Onwards
14	HDFC Bank	8.95% – 9.85%
15	HSBC	8.60% Onwards
16	ICICI Bank	9.00% – 10.05%
17	IDBI Bank	8.75% – 11.45%
18	IDFC First Bank	8.85% Onwards
19	Indian Overseas Bank	9.55% Onwards
20	SBI Bank	9.15% - 11.30%

Cosmos Bank Home Loan EMI Calculator - How to Calculate Cosmos Bank Home Loan EMI

The formula to calculate EMI is:

EMI = (P * r * (1 + r)^n) / ((1 + r)^n - 1)

where:

• P is the principal loan amount,
• n is the loan tenure in months, and
• r is the monthly interest rate

Let’s take an example. Suppose you want to take a home loan of ₹50,00,000 from Cosmos Bank for 20 years. The Cosmos Bank housing loan interest rate starts from 7.45% p.a. 

Given:

• Principal loan amount (P) = ₹50,00,000
• Annual interest rate = 7.45%
• Tenure = 20 years = 240 months

Step 1: Convert the annual interest rate to a monthly interest rate:

r = 7.45 / 12 / 100

r = 0.06208

Step 2: Calculate the number of months (n):

n = 20 * 12

n = 240

Step 3: Plug the values into the EMI formula:

EMI = (P * r * (1 + r)^n) / ((1 + r)^n - 1)

EMI = (5000000 * 0.006208 * (1 + 0.006208)^240) / ((1 + 0.006208)^240 - 1)

Now, calculate the values inside the brackets:

(1.006208)^240 = 4.056164

EMI = (5000000 * 0.006208 * 4.056164) / (4.056164 - 1)

EMI = (5000000 * 0.006208 * 4.056164) / 3.056164

EMI = (12307.91 * 4.056164) / 3.056164

EMI = 49997.92 / 3.056164

EMI ≈ ₹16,373.99

So, the Equated Monthly Installment (EMI) for the Cosmos Bank home loan with a principal amount of ₹50,00,000, a tenure of 20 years, and an interest rate of 7.45% per annum is approximately ₹16,373.99.

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Factors That Affect the Cosmos Bank Home Loan Interest Rate

Several factors affect the Cosmos Bank home loan interest rate. They are: 

1. Loan Amount

The principal loan amount is a crucial determinant of the EMI. A more considerable loan amount results in a higher EMI.

2. Interest Rate

The EMI is directly influenced by the Cosmos Bank home loan interest rate.

3. Income Category

The nature of your income (whether you’re salaried, a self-employed professional, or a business owner) can impact your home loan EMI.

4. Applicant’s Age

The age of the loan applicant can affect the interest rate.

5. Credit Rating

Home loan interest rate Cosmos Bank can vary according to the loan applicants' credit score.

6. Employment Details

The type of employment and the employer's reputation can also influence the home loan interest rates.

Tips to Avail Cosmos Bank Home Loan at Lower Interest

Securing a home loan from Cosmos Bank at a lower interest rate can be a strategic move towards owning your dream home. Some tips to help you achieve this:

1. Maintain a High Credit Score

A high credit score indicates financial reliability, making you a favorable candidate for a loan. Regularly check your credit report and work towards improving your score.

2. Stable Income Source

Banks choose candidates who have a reliable source of income. This demonstrates to them your ability to make timely loan repayments.

3. Down Payment

A larger down payment lowers the principal, which may result in cheaper interest rates. If you want to make a sizable down payment, start saving early.

4. Loan Tenure

Choosing a shorter loan tenure can increase your EMI, but it can significantly reduce the total interest paid.

5. Negotiate

Don’t hesitate to negotiate the terms of your loan. If you have a good relationship with the bank, use it to secure a lower interest rate.

Get Lowest Interest Rates on Cosmos Bank Home Loan With NoBroker

Choosing the right home loan is important in making your dream home a reality. Cosmos Bank stands out with its competitive interest rates, flexible repayment options, and customer-friendly services. Remember, a crucial step before finalizing your choice is comparing rates and terms across different lenders. This way, you can ensure you're getting the best possible deal for your unique situation.

This can be a tedious job, But there is nothing to worry about. NoBroker can help you with the whole process in and out. We can assist you in eligibility checks and document compilation, lender comparisons, and negotiation. So, why wait, contact us today!

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