Suryoday Small Finance Bank home loan

Suryoday Small Finance Bank home loan

Suryoday Small Finance Bank offers home loans with competitive interest rates that start from 10% p.a. You can borrow up to ₹1 crore to buy your dream home or invest in property.

The bank lets you spread your repayments over a comfortable 30-year tenure to keep your EMIs manageable. Both salaried employees and self-employed professionals can apply for these loans. Current customers have access to convenient features like home loan balance transfer and top-up options.

Our complete guide explains Suryoday Small Finance Bank’s home loan interest rates, processing fees, and eligibility criteria. You’ll also learn how to use their loan calculator to work out your EMIs.

Suryoday Small Finance Bank Home Loan Interest Rates

Suryoday Small Finance Bank provides home loans at interest rates between 10% to 13% p.a. The bank serves customers with loan amounts starting from ₹10,00,000 and offers flexible repayment options.

Depending on several factors, interest rates can go up to 16% for loans between ₹5 lacs and ₹100 lacs. Your profile will determine the final interest rate, though the bank hasn’t specified its rate determination criteria.

Suryoday Small Finance Bank’s home loan interest rates compared to other major lenders:

Rate of Interest		Max funding
Credit Score	ROI	Loan Amount	Funding %
≥ 800	9.20% – 11.25%	≤ ₹30 Lakh – ₹15 Cr	Up to 90%
750 – 799	10.50% – 13.00%
700 – 749	13.00% – 16.00%	₹30 L – ₹75 Lakh	~80–90%
< 650	16.00% – 20.00%+
NTC / –1	9.20% – 20.00%+ (case-based)	> ₹75 Lakh	~75–90%
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The bank’s home loans come with both fixed and floating rate options. Floating rate loans give you more flexibility with prepayment and foreclosure. You can then pick the interest rate that best matches your financial goals and market conditions.

Compare Interest Rates on Housing Loans for Top Banks and /HFCs

Home loan interest rates vary widely among financial institutions. Public sector banks are known to offer the most competitive rates, starting from 8.30% p.a.

Here’s a complete comparison of home loan interest rates from different categories:

Public Sector Banks

Bank Name	Interest Rate (p.a.)
Bank of India	8.30%
Bank of Maharashtra	8.35%
Union Bank of India	8.35%
Bank of Baroda	8.40%
State Bank of India	8.50%

 

Private Sector Banks

Bank Name	Interest Rate (p.a.)
IndusInd Bank	8.35%
Kotak Mahindra Bank	8.70%
ICICI Bank	8.75%
HDFC Bank	8.75%
Federal Bank	8.80%

 

Housing Finance Companies (HFCs) also provide competitive rates:

HFC Name	Interest Rate (p.a.)
LIC Housing Finance	8.35%
Bajaj Housing Finance	8.50%
Godrej Housing Finance	8.55%
L&T Housing Finance	8.60%
Tata Capital	8.70%

 

Current market data shows that Union Bank of India, Bank of India, and Bank of Maharashtra have the lowest interest rates at 8.35% per annum. Foreign banks like HSBC also stay competitive, with rates starting at 8.60% p.a., especially when you have high-value home loans.

Suryoday Small Finance Bank Home Loans Fees & Charges

A clear understanding of Suryoday Small Finance Bank home loan fees and charges enables better financial planning. The bank offers complete transparency in its fee structure with well-defined service charges.

Suryoday Home Loan Processing fees

The loan processing fee ranges between 1% to 2% of the loan amount plus GST. To cite an instance, a ₹50 lakhs loan would incur a processing fee between ₹50,000 to ₹1,00,000 plus applicable GST. Additional handling/admin charges of ₹5,000 plus GST apply.

Suryoday Small Finance Bank Home Loan Prepayment / Foreclosure charges

Prepayment charges differ based on borrower category and interest rate type:

Borrower Type	Interest Rate Type	Within 36 Months	After 36 Months
Individual	Floating	NIL	NIL
Individual	Fixed	4% + AT*	2% + AT*
Non-Individual	Both Fixed & Floating	4% + AT*	2% + AT*

*AT: Applicable Taxes

Other Charges related to Suryoday Small Finance Bank Home Loans

Several service-specific charges apply:

• Mortgage and stamp duty charges: As per actuals
• Late payment penalty: 36% per annum on the defaulted amount
• Cheque/NACH/SI return charges: ₹500 per instance
• Document-related charges:

• Property document copy: ₹1,000 per instance
• Security cheque replacement: ₹1,500 per instance
• Duplicate statement: ₹200 per instance

Eligibility and Documentation Requirements

Suryoday Small Finance Bank home loan requires you to meet specific eligibility criteria and submit proper documentation. The bank offers these loans to salaried employees, self-employed professionals, and self-employed non-professionals.

The bank accepts applications from people aged 21 to 65 years, regardless of whether they’re hired or self-employed. You need a monthly income of at least ₹25,000 if you’re salaried, while self-employed professionals should earn ₹25,000 yearly.

These documents are needed to process your loan:

Identity and Address Proof (Any one)

• Voter ID
• Driving License
• Passport
• Telephone/Electricity Bill
• Bank Statement

Income Documentation

• Salaried Applicants: Latest 3 months’ salary slips or Form 16
• Self-employed: Business continuity proof dated 5 years old

Your loan approval depends on several key factors:

• Your financial position and existing liabilities
• Credit score and repayment history
• Property specifications and location
• Guarantor status

Women applicants must meet the same eligibility criteria as others but might get special interest rate benefits. Your chances of loan approval can improve significantly when you add an earning family member as a co-applicant.