Hi, I learned about the corporation bank interest rates for home loans while trying to learn about home loans. I spoke to a friend who works at a bank and asked him about the Corporation Bank rate of Interest for home loan. He informed me that the interest rate of corporation rate is somewhere between 8.50% to 12.50%.
What Is Corporation Bank Housing Loan Interest Rate?
He told me about the Corp Bank home loan interest rate, amount, tenure, etc. Check the table below to know about those.
| Eligibility Criteria | Salaried and Self-Employed |
Amount |
Upto 5 Crores |
Tenure |
Up to 30 years |
Interest Rate |
8.50% (Base Rate) |
Processing Fee |
0.50% of the loan amount or Rs. 15,000 + GST. |
My friend told me that Corporation bank offers a range of features that are
He said that the loan amount is determined based on the repayment capacity and property value of the borrower. This is done to ensure that the borrower has the resources needed by them.
The nominal processing fee is 0.50% of the loan amount and is capped up to Rs. 15000 plus GST.
According to him, the borrower gets to choose a comfortable tenure of up to 30 years for purchase/construction. In case of repair/renovation, the tenure becomes 15 years.
He also mentioned that the loans are pretty flexible, with a margin of 10% for loans up to Rs. 30 lakhs. For loans that exceed Rs. 30 lakhs, the margin becomes 20%.
And that’s about it. I hope this information about Corporation bank rate of interest for home loan has been of help to you.
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Authors Of The Question
What Is Corporation Bank Rate Of Interest For Home Loan?
Sujoy
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9 months
2024-02-20T09:23:26+00:00 2024-08-06T15:01:16+00:00Comment
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