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Corporation Bank Home Loan: Interest Rates, Loan Amounts & More

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Looking for a Corporation Bank Home Loan? Explore the benefits of our home loan offerings, including competitive interest rates and flexible repayment options. Secure your dream home with Corporation Bank.

Corporation Bank Home Loan Details

When it comes to home loans, Corporation Bank offers a range of features designed to meet your needs.

  • Interest Rate: Enjoy attractive interest rates for your home loan, ranging from 8.50% to 12.50%, making your dream home more affordable.
  • Loan Amount: Your loan amount isn't limited by a maximum cap. It's determined based on your repayment capacity and property value, ensuring you have the resources you need.
  • Processing Fees: Benefit from a nominal processing fee of 0.50% of the loan amount, up to Rs. 15000, plus GST. Our transparent fees make securing your home loan easier.
  • Prepayment/Foreclosure Charges: For floating-rate loans, there are no prepayment penalties. Fixed-rate loans offer flexible prepayment options, adding convenience to your repayment journey.
  • Maximum Tenure: Choose a comfortable tenure of up to 30 years for purchase/construction and 15 years for repair/renovation. Tailor your repayment schedule to your life plans.
  • Rate Packages Available: We provide various rate packages to suit your preferences and financial situation. Find the one that aligns with your goals.
  • Security: Our home loans require a simple/equitable mortgage of the property. During construction, interim security might be necessary, to safeguard your interests.
  • Eligibility: Whether you're an Indian citizen or an NRI aged 18 to 75, you can apply for a Corporation Bank home loan individually or jointly, making homeownership accessible.
  • Margin: With a margin of 10% for loans up to Rs.30 Lakhs and 20% for loans exceeding Rs.30 lakhs or meant for repairs/renovation, our loans are designed to offer flexibility.
  • Insurance: To protect your investment, comprehensive property insurance covering the property value (excluding land cost) with a Bank clause is mandatory.

Understanding Corporation Bank Home Loan Interest Rates

Corporation Bank offers a variety of home loan options tailored to diverse needs:

Standard Home Loan:

Maintain stability with fixed interest rates for the entire loan tenure, ensuring consistent monthly payments.

Floating Rate Home Loan:

Embrace flexibility with interest rates that adjust based on market conditions, taking advantage of rate fluctuations.

Special Schemes:

Discover exclusive schemes featuring unique interest rates designed for specific borrower categories or property types, catering to diverse financial situations.

Customizable Rate Packages:

Borrowers can negotiate interest rates based on their financial profiles and specific loan requirements, shaping their borrowing experience.

Current Corporation Bank home loan rates:

Ranging from 8.50% to 12.50%.

Corporation Bank Home Loan EMI Calculator

Understanding Equated Monthly Installments (EMIs) is vital when considering a home loan. Corporation Bank provides a user-friendly EMI calculator that helps borrowers accurately estimate their monthly repayment obligations. Here's a breakdown of effectively using the Corporation Bank Home Loan EMI Calculator:

1. Loan Amount:

Start by entering the total loan amount you plan to borrow from Corporation Bank.

2. Interest Rate:

Input the relevant interest rate corresponding to your selected home loan scheme.

3. Loan Tenure:

Specify the duration for repaying the loan, usually measured in months.

The EMI calculator quickly computes the anticipated EMI using three key variables: loan amount, interest rate, and loan tenure. This installment encompasses both principal and accrued interest, distributed over the chosen tenure. It also generates a detailed payment schedule, illustrating the gradual reduction of principal and interest.

Although minor variations may occur due to factors like processing fees, the Corporation Bank Home Loan EMI Calculator provides a dependable estimate. This tool aids borrowers in comprehending their financial commitments and supports informed decision-making. It simplifies complex calculations, offering transparent insight into the home loan journey—an indispensable companion for prospective borrowers.

To calculate your Corporation Bank home loan EMI, use the following formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]


• P = Loan amount

• R = Interest rate per month

• N = Loan tenure in months

Exploring Corporation Bank's Home Loan Schemes

Corporation Bank offers a variety of tailored home loan schemes, each designed to cater to the specific needs and aspirations of individuals seeking to achieve their dream of homeownership. Here, we delve into one of the notable schemes, the Corporation Bank Union Home Loan, providing a comprehensive understanding of its features and benefits.

Corporation Bank Union Home Loan

This versatile scheme caters to diverse housing needs, including purchasing new or existing homes, constructing on non-agricultural plots, or even combining plot acquisition with residential construction (composite project). It covers repairs, improvements, extensubDescsions, and loan transfers from other institutions for smooth transitions.

  • Eligibility: Open to Indian citizens and NRIs, aged 18 to 75, applying individually or jointly.
  • Loan Quantum: No upper limit; based on repayment capacity and property value. Maximum Rs. 30 lakhs for repairs.
  • Moratorium Period: Up to 36 months for purchase/construction, up to 12 months for repairs, and up to 48 months for Composite Home Loans.
  • Repayment: Up to 30 years for purchase/construction, 15 years for repairs.
  • Repayment Methods: Offers various methods including EMI, EQI (for agriculture borrowers), Step-Up, Balloon, FLIP, and Bullet Payment.

Corporation Bank Union Awas Loan

The Corporation Bank Union Awas Loan offers affordable housing and property improvements for rural and semi-urban residents.

Crafted to suit their unique needs, this specialized scheme fosters homeownership and property enhancements.

  • Eligibility: Targets rural/semi-urban residents, school/college employees, and farmers with an annual income of Rs. 48,000+. Age: 18-75. Repayment capacity evaluated through income certificate from Tehsildar/Mandal Revenue Officer.
  • Loan Quantum: Supports purchase/construction and repairs/improvements. Semi-urban: up to Rs. 10 lakhs or Rs. 5 lakhs. Rural: up to Rs. 7 lakhs or Rs. 5 lakhs. Eligibility based on repayment capacity and property value.
  • Moratorium Period: Purchase/construction up to 36 months; repairs/renovation up to 12 months for smoother financial transitions.
  • Repayment: Purchase/construction up to 30 years; repairs/renovation up to 15 years. Agriculture borrowers can choose Quarterly, Half-Yearly, or Annual Installments for aligned repayment.

Corporation Bank Plot Purchase Loan

Corporation Bank's Plot Purchase Loan offers a tangible opportunity for aspiring homeowners. The scheme covers a wide range of scenarios for buying residential plots from various sources, including government authorities and private developers. Key features:

  • Purpose: Purchase plots from diverse sources, government or private, registered under RERA. Includes renowned developers like DLF, as well as government development authorities.
  • Eligibility: Open to bank customers with satisfactory history, new customers, NRIs, and bank employees. Maximum entry age: 60 years.
  • Loan Quantum: Based on repayment capacity. Ranges:
  • Security & ROI: Equitable mortgage of the plot, personal guarantees. Interest as per Union Home Scheme.
  • Repayment/ Tenure: Without home loan for construction: Up to 120 months or age 70.With home loan for construction: Up to 360 months or till age 70 at plot loan closure (whichever is earlier). No moratorium.
  • Processing Charges: 0.50%, max Rs. 15000. Staff under the scheme exempt.

Corporation Bank Builder Tie-Ups (Approved Projects) Loans

Corporation Bank collaborates with builders across multiple locations for its Builder Tie-Ups (Approved Projects) Loans, streamlining the path to homeownership. This scheme offers several benefits:

  • Quick Processing: Accelerated loan processing and sanctioning reduce waiting times.
  • Fee Waivers: Legal and valuation charges are waived, easing financial burdens.
  • No Interim Security: Exemption from interim security requirements simplifies the application process.
  • Available Cities: The scheme is accessible in vibrant cities including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chennai, Hyderabad, Jaipur, Kolkata, Lucknow, Mangaluru, Mumbai, Pune, Ranchi, Varanasi, and Vijayawada.

Union Paradise Home Loan for NRIs by Union Bank of India

Union Bank of India is proud to offer the Union Paradise Home Loan, specifically designed to cater to the housing needs of Non-Residential Indians (NRIs). Whether you're looking to purchase a new residential unit, construct a home on an existing non-agricultural plot, or make repairs and improvements to your existing property, our Union Paradise Home Loan has you covered. Here are the key details and benefits of this specialized loan product:

  • Purpose: Purchase of new/old residential unit (house/flat/villa/apartment, etc.)Construction of a residential unit on an existing non-agricultural plot.Purchase of a non-agricultural plot and construction of a residential unit (composite project).Repairs/improvements/extension of the existing residential property.Take-over of a housing loan availed from another bank or financial institution.Completion of under-construction residential units.Purchase of solar power panels along with the purchase/construction of a house.
  • Eligibility: NRIs are eligible to apply.Minimum entry age is 18 years, and the maximum exit age is up to 75 years.Individuals may apply singly or jointly with other eligible individuals.
  • Quantum of Loan: No limit on the quantum of the loan.Loan eligibility is determined based on the repayment capacity of the borrower and the value of the property.The maximum loan amount for repairs/renovation is Rs. 30 lakhs.
  • Margin (Your Share): 10% of the total cost of the purchase/construction for loans up to Rs. 30 lakhs.20% of the total cost of the purchase/construction for loans above Rs. 30 lakhs.20% of the total cost of the repairs/renovation.
  • Home Loan Moratorium Period: Moratorium period of up to 36 months in case of purchase/construction.Moratorium period of up to 12 months in case of repair & renovation.Moratorium period of up to 48 months in case of Composite Home Loans from the date of the first disbursement OR up to the period allowed by the Development Authority from the date of purchase of the plot, whichever is earlier.
  • Repayment: Repayment period of up to 30 years in case of purchase/construction.Repayment period of 15 years in case of repair & renovation.
  • Repayment Methods: Equated Monthly Installments (EMI).For borrowers engaged in agriculture or allied activities, Equated Quarterly Instalment (EQI) may be permitted instead of EMI.Step-Up Repayment Method, Balloon Repayment Method, Flexible Loan Installment Plan (FLIP) Method, and Bullet Payment options are available to suit your financial needs.
  • Prepayment Penalty: Floating rate loans: No prepayment penalty/take-over penalty if the loan is taken over by other banks/FIs.Fixed rate loans: No prepayment penalty if the loan is prepaid from own verifiable sources. A take-over penalty of 2% is charged on the average outstanding balance of the preceding 12 months if the loan is taken over by any other bank/FI or adjusted by the borrower in lump-sum from any third party/source (except genuine sale).
  • Home Loan Security: Simple/Equitable mortgage (E.M.) of the residential property.In case the proposed residential unit is under construction, suitable interim security is required until the period of its completion. However, interim security is not required if there is a tie-up with the builder (with a tripartite agreement) for the particular housing project.
  • Guarantee: One/two guarantors of Indian Residents (other than a spouse), having means equivalent to that of the loan amount, are to be provided by the NRI applicant.
  • Processing charges are 0.50% of the loan amount, subject to a maximum of Rs. 15,000 plus GST. Valuation, Legal, Stamp Duty, CERSAI, and Memorandum registration charges are as per actual.
  • With the Union Paradise Home Loan for NRIs, Union Bank of India is committed to helping you achieve your dream of owning a home in India. Our flexible terms, competitive interest rates, and comprehensive support make us the ideal choice for NRI home buyers. Feel free to visit our website or contact your nearest Union Bank branch to get started on your journey to owning your dream home.

Corporation Bank Union Home - Smart Save Loan

The Corporation Bank Union Home - Smart Save Loan revolutionizes home loans by prioritizing financial efficiency and flexibility. It optimizes interest savings and controlled withdrawals.

  • Loan Structure: Like traditional Union Home loans, Smart Save follows norms with regular EMIs/EQIs. Its uniqueness lies in surplus fund management.
  • Surplus Fund Management: Smart Save handles excess payments differently. Extra funds reduce the outstanding balance, lowering interest. Surplus funds can be withdrawn, unlike traditional loans.
  • Withdrawal and Overflow: Excess deposited funds can be withdrawn, limited to the amount exceeding scheduled repayments. Outstanding balance decreases with deposits and rises with withdrawals.
  • EMI Continuation: Regular EMIs continue as scheduled.
  • Limitations and Closure: Outstanding balance must remain above 10% of scheduled outstanding. On loan closure, credit is provided for total outstanding.
  • Security and Documentation: Requires Union Home (Smart Save) Agreement and Modified Letter of Continuity: AD 09M, in addition to standard security documents.
  • Switch Over and Conversion: Borrowers can switch between Smart Save and regular home loans twice. Conversion fee: 0.25% of outstanding or max Rs. 5000+GST. New account opens for conversion.

Corporation Bank Home Loan Eligibility Requirements


Indian citizens and NRIs are eligible to apply.

Age Range

The minimum entry age is 18 years, and the maximum exit age can extend up to 75 years.


Individuals may apply singly or jointly with other eligible applicants.

Income Assessment

Loan eligibility hinges on the borrower's repayment capacity and the property's value.


Salaried individuals, self-employed professionals, and businessmen are eligible.

Credit History

A positive credit history enhances eligibility.

Income Stability

A steady source of income is a key determinant.

Documents Required for Corporation Bank Home Loan Application

Accurate documentation is the bedrock of a successful home loan application. Here's an overview of the Documents Required for Corporation Bank Home Loan Application for different types of applicants:

1. For Salaried Individuals

  • Identity Proof (PAN card, Aadhar, Passport)
  • Address Proof (Aadhar, Passport, Utility Bills)
  • Income Proof (Salary slips, Form 16)
  • Employment Proof (Appointment letter)
  • Bank Statements (Last 6 months)
  • Passport-sized Photographs

2. For Self-Employed Professionals/Businessmen

  • Identity Proof (PAN card, Aadhar, Passport)
  • Address Proof (Aadhar, Passport, Utility Bills)
  • Income Proof (Income Tax Returns, Balance Sheets)
  • Business Proof (Business Registration documents)
  • Bank Statements (Last 6 months)
  • Passport-sized Photographs

How to Apply for Corporation Bank Home Loan

Applying for an Corporation Bank Home Loan online has never been easier, thanks to the collaboration with NoBroker. Here's a Step-by-step Guide on How to Apply for an Corporation Bank Home Loan through the NoBroker platform:

1. Visit the NoBroker Website:

Go to the NoBroker website.

2. Navigate to the Home Loan Section:

Find and navigate to the Home Loan section on the NoBroker platform.

3. Provide Basic Details and Loan Requirements:

Fill in your basic details and loan requirements as prompted on the application form.

4. Receive Customized Loan Options:

Corporation Bank will provide you with customized home loan options based on the information you provided.

5. Compare and Choose:

Compare the offered options and choose the one that best suits your needs and preferences.

6. Complete the Application Form Online:

Fill out the online application form with accurate details.

7. Upload Necessary Documents Securely:

Securely upload all required documents as specified in the document checklist.

8. Track Your Application's Progress:

Utilize the application tracking feature to monitor the progress of your home loan application.

9. Await Approval and Disbursal:

Wait for the approval process to complete, and once approved, the loan amount will be disbursed accordingly.

By following these steps, you can easily and efficiently apply for an Corporation Bank Home Loan through the NoBroker platform.

Corporation Bank Home Loan Customer Care

Corporation Bank Home Loan Customer Care is committed to providing prompt assistance and resolving queries. For 24x7 support, you can reach Corporation Bank Home Loan Customer Care through these toll-free numbers: 1800 2222 44, 1800 2222 43, 1800 208 2244, 1800 425 1515, 1800 425 3555. They are dedicated to guiding you throughout your home loan journey and addressing your concerns promptly.


Corporation Bank Home Loans present an ideal opportunity to turn your homeownership dreams into reality. With competitive interest rates, flexible repayment options, and a range of loan schemes, securing your dream home is within reach. Embrace the convenience of online applications and benefit from exceptional customer care. If you're looking for a reliable partner in your home-buying journey, Corporation Bank is here to support you every step of the way.

1. What are the eligibility criteria for Corporation Bank Home Loans?
To be eligible for Corporation Bank Home Loans, you need to be an Indian citizen aged between 18 and 75, have a steady income, and maintain a satisfactory credit history.
2. What documents are required for the application?+
Commonly needed documents for Corporation Bank Home Loan application include identity/address proofs, income proofs, bank statements, and photographs. Ensure you have all necessary documents for a smooth application process.
3. Can I apply online for an Corporation Bank Home Loan?+
Yes, you can conveniently apply for an Corporation Bank Home Loan through NoBroker's platform, ensuring a seamless online application process for added convenience.
4. How can I reach Corporation Bank Home Loan Customer Care?+
For 24x7 assistance, dial the toll-free numbers: 1800 2222 44, 1800 2222 43, 1800 208 2244, 1800 425 1515, or 1800 425 3555 to connect with Corporation Bank Home Loan Customer Care.
5. Is Corporation Bank the same as Union Bank?+
Corporation Bank and Corporation Bank have been brought under the purview of Union Bank. As of April 1, 2020, e-Andhra and e-Corporation Bank merged into Union Bank of India. IT integration is done, retaining account numbers while updating IFSC codes.
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