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SVC Co-operative Bank Home Loan: Interest Rates and Other Details

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Looking for a reliable home loan? Discover the benefits of SVC Co-operative Bank Home Loan, tailored to your needs. Whether you're a first-time homebuyer or looking to refinance, SVC Co-operative Bank offers flexible options to turn your dream home into reality. Explore the interest rates, calculate EMIs, and delve into the essential loan details in this comprehensive guide.

SVC Co-operative Bank Home Loan Details

When it comes to SVC Co-operative Bank Home Loans, you can expect competitive interest rates, accommodating loan amounts, transparent processing fees, and flexible prepayment/foreclosure options. With a maximum tenure that suits your convenience, SVC Co-operative Bank ensures various rate packages to cater to diverse financial preferences.

  • Interest Rate: SVC Co-operative Bank Home Loan offers attractive interest rates that align with your financial capabilities. The rates vary depending on the specific scheme you choose, ensuring affordability and ease of repayment. However, the interest rate starts at 7.75% per annum.
  • Loan Amount: Whether you're eyeing a cosy apartment or a spacious villa, SVC Co-operative Bank Home Loan provides the financial backing you need, with loans reaching up to INR 140 Lakhs.
  • Housing Loan Processing Fee: Experience affordability with SVC Co-operative Bank's minimal processing fee for housing loans. You'll be charged either 0.65% of the loan amount or a minimum of Rs 5000, ensuring transparent and reasonable processing costs.
  • Prepayment/Foreclosure Charges: SVC Co-operative Bank acknowledges your changing financial circumstances. With flexible prepayment and foreclosure options, you can manage your loan efficiently.
  • Maximum Tenure for Salaried Professionals: For salaried individuals and professionals, SVC Co-operative Bank extends a maximum repayment period of 20 years, granting ample time to manage your loan effectively.
  • Up to 90% Financing: Secure your new home with ease, as SVC Co-operative Bank offers up to 90% financing*, allowing you to fulfil your homeownership aspirations with minimal initial investment.
  • Balance Transfer and Top-Up Facility: Seamlessly transfer your existing home loan to SVC Co-operative Bank and take advantage of additional funds with our top-up facility, catering to your evolving financial requirements.

SVC Co-operative Bank Home Loan Interest Rates

SVC Co-operative Bank prioritises transparent and flexible interest rates, offering both fixed and floating options to match borrowers' preferences and market trends.

  • Starting at 7.75% p.a. SVC Co-operative Bank Home Loan stands out with a starting rate of 7.75% p.a., up to 10.25% p.a. This competitive rate ensures affordable monthly payments, enhancing homeownership accessibility.
  • Rate Variability for Floating Rates Floating rates are tied to benchmarks like Repo Rate, reflecting market changes for advantageous rates.
  • Fixed Interest Rate Stability Choose fixed rates for payment stability. Rates remain constant for a specified period, safeguarding against market fluctuations.
  • Influencing Factors Interest rates depend on economic conditions, inflation, central bank policies, and market dynamics. Stay informed for anticipatory adjustments.

SVC Co-operative Bank Home Loan EMI Calculator

Calculating your Equated Monthly Instalments (EMIs) is hassle-free with SVC Co-operative Bank's EMI calculator. By inputting the loan amount, interest rate, and tenure, you can instantly determine the monthly repayment amount, helping you plan your finances effectively.

To calculate your SVC Co-operative Bank home loan EMI, use the following formula:

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

Where:

• P = Loan amount

• R = Interest rate per month

• N = Loan tenure in months

SVC Co-operative Bank Home Loan Schemes

SVC Co-operative Bank Home Loan

Amongst the array of home loan options offered by SVC Co-operative Bank, the Home Loan Scheme stands out as a beacon for aspiring homeowners. This scheme is meticulously designed to cater to various housing needs, ensuring that dreams of owning a home become a tangible reality. With attractive interest rates and personalised services, SVC Bank creates a seamless and pleasant home-buying journey.

    Attractive Interest Rate:

    • The scheme offers funding at an attractive rate of interest, providing borrowers with cost-effective financial solutions.

    Quick Approvals & Personalised Service:

    • SVC Bank ensures swift approvals and personalized attention, simplifying the loan acquisition process.

    EMIs Based on 180 Months / 15 Years Tenure:

    • The scheme provides comfortable repayment terms with Equated Monthly Installments (EMIs) spanning up to 180 months or 15 years.

    The Mortgage Loan Scheme caters to a diverse range of purposes, including • Business needs • Personal requirements • Education Expenses • Acquisition of assets • Purchase or construction of commercial premises • Expansion or renovation of business premises, and more.

    SVC Co-operative Bank Home Loan Eligibility Requirements

    Before embarking on the journey to homeownership with SVC Co-operative Bank, it's crucial to meet the specific eligibility criteria. These criteria ensure that applicants have the financial capacity to manage their home loan obligations. Detailed below are the eligibility requirements for SVC Co-operative Bank Home Loans:

    • For Home Loan Applicants
      • Age: Applicants must be 21 years and above.
      • Income: Applicants should be income tax assessed with a fair repaying capacity.
      • Documentation: Applicants need to submit valid identity and address proofs, including Aadhar card copies and PAN card copies.
      • Employment: Salaried individuals need to provide the latest 3 months' salary slips, Form No. 16, and Income Tax Returns (ITR) along with income statements for the last 3 years. Self-employed individuals should provide bank statements reflecting business turnover, ITR, and financial statements for the last 3 years.
      • Bank Statements: Submission of bank statements reflecting salary credits or business turnover is mandatory. This includes bank statements from any other bank accounts.
      • Property Documents: Applicants must provide all relevant property documents, previous chain documents, and approved property plans.
      • Business Proof: For self-employed individuals, business proofs are required to validate their business status and financial stability.
    • For Mortgage Loan Applicants
      • Age and Income: The same age and income criteria apply as Home Loan applicants, which is - Applicants must be 21 years and above.
      • Documentation: Similar to Home Loan applicants, valid identity and address proofs including Aadhar card copies and PAN card copies are required.
      • Employment: The documentation for employment verification aligns with that of Home Loan applicants, as specified above.
      • Property Documents: Applicants must provide property documents, previous chain documents, and approved property plans, similar to Home Loan applicants.
      • Business Proof: For those who are self-employed, providing proof of their business status and financial stability remains a requirement.

    Documents Required for SVC Co-operative Bank Home Loan Application

    1. Passport-size Photographs

    • 2 each for applicants and guarantors.

    2. PAN Card Copies

    • Copies of PAN cards for all applicants and guarantors.

    3. Aadhar Card Copies

    • Copies of Aadhar cards for all applicants and guarantors.

    4. Residence Proof Copies

    • Copies of residence proofs for all applicants and guarantors.

    5. Salary Slips

    • The latest 3 months' salary slips for salaried individuals.

    6. Form No.16 and ITR

    • For salaried individuals, Form No.16 and Income Tax Returns (ITR) along with income statements for the last 3 years.

    7. Bank Statements

    • Bank statements reflecting salary credits or business turnover for the last 6 months, including statements from other bank accounts.

    8. Relationship Proof

    • Proof of relationship between applicants and guarantors, if applicable.

    9. Loan Account Statements

    • Statements reflecting EMI debit transactions and sanction terms.

    10. Property Documents

    • Copies of property documents, previous chain documents, and approved property plans.

    11. Income Tax Returns

    • Income Tax Returns for the last three years, along with computation of income and financial statements for business applicants.

    12. Business Proof

    • Proof of business for self-employed individuals.

    These documents are necessary for the SVC Co-operative Bank Home Loan application process. Additional documents may be required based on individual circumstances and loan requirements.

    How to Apply for SVC Co-operative Bank Home Loan Online with NoBroker

    Applying for an SVC Co-operative Bank Home Loan online through NoBroker is a streamlined process that puts you on the path to owning your dream home. Here's a step-by-step guide to guide you through the online application process:

    1. Visit NoBroker Website:

    Navigate to the NoBroker website and locate the SVC Co-operative Bank Home Loan section.

    2. Fill in Details:

    Provide details such as your name, contact information, and property requirements.

    3. Choose Loan Type:

    Select the type of home loan you're interested in from the options provided.

    4. Submit Documents:

    Upload the necessary documents, including identification, income proof, and property documents.

    5. Calculate EMI:

    Utilize the EMI calculator to estimate your monthly instalment based on the loan amount and tenure.

    6. Get Pre-Approved:

    Receive a pre-approval for your home loan application, indicating the maximum loan amount you're eligible for.

    7. Complete Application:

    Fill in the detailed application form with accurate information.

    8. Submit Application:

    Review your application and submit it online.

    9. Wait for Verification:

    The bank will review your application and documents. Expect a call for further verification if needed.

    10. Loan Approval:

    Upon successful verification, your loan will be approved, and you'll receive confirmation.

    By following these steps, you can initiate your SVC Co-operative Bank Home Loan application online via NoBroker with convenience and ease.

    SVC Co-operative Bank Home Loan Customer Care

    For any inquiries or assistance regarding SVC Co-operative Bank Home Loans, you can contact the bank's dedicated customer care service. Here are the details:

    LocationAddressTelephone No.
    SVC Care-1800 313 2120
    Mumbai Head Office-022 6699 9999
    Thane Regional Office-022 7199 1000
    D.G.M's Office, Bengaluru1, Central Bank Road Chamrajpet, Bengaluru - 560018080-2667 6305 / 080-7123 1000
    GMs Office, Pune303, Chintamani Pride, Near City Pride Kothrud Theatre, Kothrud, Pune 411038020-6060 6071 / 8237046072 / 8237006073
    A.G.M's Office, KolhapurUnit No. O-2, Mahavir Chambers, C.S.NO. 681 B, E ward Shahupuri, 2nd lane, Kolhapur - 416 0010231-265 9527 / 0231-266 7938
    Regional Office, Aurangabad3rd Floor, Sai Trade Center, Opp Railway Station, Aurangabad - 4310010240-2970038 / 2970040
    Regional Office, NashikDev’s Arcade, Samarth Nagar, Near Tanishq Showroom, Mahatma Nagar Road, Nashik 4220050253-2353554
    D.M's Office, GujaratUnit No. 18, Primate Complex, Cross Road, Satellite, Ahmedabad - 38001579-26871143 / 42 / 40

    Conclusion

    In conclusion, SVC Co-operative Bank Home Loans provide an accessible path to achieving your dream of homeownership. With a range of schemes, competitive interest rates, and a customer-centric approach, SVC Bank is your reliable partner in making your home ownership dreams a reality. Apply online through NoBroker for a seamless experience and reach out to SVC Co-operative Bank's dedicated customer care for any assistance you may need.

    Frequently Asked Questions (FAQs)
    1. What are the key features of SVC Co-operative Bank Home Loans?
    SVC Co-operative Bank Home Loans offer up to 90% finance, loan amounts up to INR 140 Lakhs, balance transfer and top-up options, and repayment tenures of up to 20 years.
    2. What documents are required for a Home Loan application?+
    Applicants need to provide photographs, PAN card copies, Aadhar card copies, residence proof copies, salary slips, Form No.16, ITR, bank statements, relationship proof, property documents, and business proofs (if applicable). Ensure all necessary documents are submitted for a smooth application process.
    3. How can one contact SVC Co-operative Bank Home Loan Customer Care?+
    You can reach SVC Care at 1800 313 2120, the Mumbai Head Office at 022 6699 9999, and the Thane Regional Office at 022 7199 1000. Feel free to contact them for assistance with your home loan queries.
    4. Where are SVC Co-operative Bank's regional offices located?+
    SVC Co-operative Bank has regional offices in Bengaluru, Pune, Kolhapur, Aurangabad, Nashik, and Gujarat. Refer to the table above for detailed addresses and contact numbers.
    5. How can one apply for an SVC Co-operative Bank Home Loan online through NoBroker?+
    Follow the step-by-step guide provided in the "How to Apply for SVC Co-operative Bank Home Loan Online with NoBroker" section above. Utilize the convenient online application process for a hassle-free experience.
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