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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Get Corporation Bank home loans at affordable interest rates. Corporation Bank Home Loan interest rates vary based on the home loan tenure, home loan amount, credit score, and many other factors. Also, women can obtain home loans at slightly lower rates.
Get loans starting from 11.25% interest rate
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Conventional wisdom dictates that when you grow up, you buy a home of your own. But you need to be financially prepared to make that plunge. However, almost everyone needs that much needed help while buying their home – that’s where home loans come in. Lenders have a variety of home loan products for the customers’ varied needs.
Whether you are only thinking about buying a property, or have already started looking at properties, the most important deciding factor when considering various home loan options is typically the interest rate.
Interest rate on a home loan varies based on different criteria. Not all home loan applicants get the same rate of interest. Below are the interest rates on home loans offered by Corporation Bank.
About Corporation Bank Home Loan Interest Rate
| Scheme | Loan Amount | Effective ROI % | Processing Fees w.e.f. 15.03.2019 (Exclusive of S Tax) |
|---|---|---|---|
| CORP HOME (including NRI) | Up to 2 Crores | 9.00 | 0.50% of loan amount (Max Rs. 50,000) |
| Floating Rate | Above Rs. 2 Crores | 9.25 | |
| CORP HOME (including. NRI) | Up to Rs. 25 lakhs | 12.00 | |
| Fixed Rate | Above 25 lakhs | 12.50 | |
| CORP GHAR SHOBHA | 9.40 | 0.50 %, Min of Rs.1000/- | |
| CORP GHAR SANSAR | 9.40 | 1.00 %, Max. of Rs.10000/- |
Note: The above interest rates and other charges are subject to periodic review. The final pricing will be based on your income, loan amount, loan tenure, and the bank’s internal policies and the applicable rates at the specific time.
Popularly known as ‘Corp Home Scheme’, the home loan from Corporation Bank has the following features.
Purpose of Loan:
Though there may be several factors that impact the interest rate on a home loan, credit score is a major criterion that play an important role in determining the interest rate for you. If you are in a good credit health and have a great credit score above 750, you are likely to obtain a low interest rate home loan from Corporation Bank.
Next to credit score, the bank also looks at your monthly income. If you have a lucrative income, it is a bonus for you. The lender considers you a worthy applicant and a reliable borrower. Thus, you will receive a low interest on a home loan.
In case you have a savings bank account or have taken a loan in the past with Corporation Bank, you are likely to get a favourable terms on your home loan. The lender wishes to have a long-term relationship with you and thus might decrease the interest rate on the home loan.
It is now easy to apply for a home loan with Corporation Bank. You can just visit the official website of the bank and fill-up details such as your name, date of birth, salary, PAN, Aadhaar details etc. After submission of your details, you will receive a call from the executive of Corporation Bank with regard to the application. The loan will further be processed for approval.
You can also apply through CreditMantri for a home loan, wherein you can check your eligibility for free with multiple lenders. You can choose the lender who offers you the best rate of interest.
If you are not familiar in using online methods, you may call up the customer care team of Corporation Bank and get help to proceed with the home loan application.
If you are not familiar with the above methods, you may walk into the nearest branch of Corporation Bank and apply for the home loan then and there.
1. Who is eligible to avail a home loan from Corporation Bank?
Salaried individuals, self-employed professionals, self-employed non-professionals and NRIs are eligible to apply for a home loan from Corporation Bank.
2. What is the security required to avail a Home Loan?
Depending on your credit history, no collateral security other than mortgage of the house property is insisted upon.
3. Is there a prepayment charge?
You can make a full payment towards paying off your loan before your tenure. This is subject to penalty charges. In case of housing loan with floating rate of interest, the pre-payment penalty will be 0.5% of the amount prepaid and in case of fixed rate of interest option, prepayment penalty will be 1.00% of the loan amount prepaid. It is best to contact the bank directly for the most up to date charges.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application