The Cooperative Bank housing loan interest rate varies based on the loan amount, tenure, and whether the rate is fixed or floating. On average, the interest rate starts at 8.20% p.a. for women. I have shared the latest rates in details below for your reference.
What are the Co Operative Bank Housing Loan Interest Rates?
For loans up to Rs 35 lakh, the interest rate is 8.50% p.a., with a repayment tenure of up to 120 months (10 years).
For larger loans between Rs 35 lakh and Rs 140 lakh, the bank employs a tiered rate structure:
Up to 120 months, the rate is 9.00% p.a.
Longer tenures (121 to 240 months, or 10 to 20 years), the rate increases to 9.50% p.a.
Borrowers enjoy a 0.25% p.a. interest concession if they are women applicants, aligning with the bank's inclusive lending policy. The maximum loan tenure for housing loans is up to 240 months, subject to the borrower’s age and repayment capacity. This is all about the Co Operative Bank home loan interest.
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The Cooperative Bank housing loan interest rate will depend on the bank from which you are planning to avail of the loan. When we availed of a housing loan from the Calicut Cooperative Urban Bank, we came to learn that they are disbursing housing loans with interest rates between 10.59% and 11.40%, mainly based on the amount of the loan. Now for other banks, these rates differ. I am aware of the interest rate of a few cooperative banks, so let me mention them next.
What are the Co Operative Bank Housing Loan Interest Rates?
The Co operative Bank home loan interest, as I mentioned, is not the same for all banks. Here is a list of banks along with their housing interest rates:
Bank |
Housing Loan Interest Rate Range |
Calicut urban bank |
10.50% to 11.40% |
The Punjab State Cooperative Bank Ltd. |
8.50% to 10.50% |
Tamil Nadu Industrial Co-operative Bank Ltd. |
12% |
Mahalakshmi Co-operative Bank Ltd. |
10.50% to 13.50% |
Thus, it is better to visit the bank’s portal or branch to know about their exact interest rates based on the loan amount, tenure, and other aspects.
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2024-11-06T10:06:51+00:00 2024-11-06T10:06:51+00:00Comment
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