Bandhan Bank is one of the leading financial institutions of India functioning since December 23, 2014. It provides several financial products such as retail loans, MSME loans, Agricultural loans, small enterprise loans, and others. In this article, we will talk about the Bandhan bank loan interest rates with regards to your dream home.
Bandhan Bank home loans are considered to be one of the best when you want to switch from the rented houses to your dream home. You can opt for a home loan for various purposes diverging from the booking of an under-construction property to the renovation of your home to the construction of your dream home. Also, Bandhan bank loan interest rates will suit your pocket added with the flexibility in the repayment method.
What are the various features of Bandhan Bank Home Loan:
There are numerous features in the home loan facility by Bandhan Bank that will make you go for it without any further pondering. You can have a look at some of them.
- Bandhan bank loan interest rate ranges from 12.41% to 13.33% per annum which is pretty affordable in the current financial market.
- The processing fee stands at 1% of the loan amount plus applicable taxes or ₹ 5,000 whichever is minimum.
- The documentation process is minimal and hassle-free.
- A balance transfer scheme is also available in the Bandhan Bank home loan facility.
- Throughout the loan processing period, you will get assistance from one of the executives of Bandhan Bank.
- You can also avail of non-life and life insurance schemes from the various partnered insurance companies with Bandhan bank.
- You can take a home loan for a maximum period of 15 years.
How to use Bandhan Bank Home Loan EMI calculator?
It is essential to have an estimate about the monthly installments that you’ll be paying over a period to repay the loan amount. Otherwise, it may burn off your monthly budget. To have an estimate about it, you can use the Home Loan EMI calculator. In order to use this, you may need a few basic details like the desired loan amount, Bandhan bank loan interest rates, and tenure period.
After putting these details into the EMI calculator, you will get the exact amount of monthly installments. Apart from it, you will also get the total payable interest over your repayment period. This calculator is indeed a magical tool because of the flexibility it holds.
How can I know if I am eligible for a Home Loan or not?
To know the answer to this question, you should look at the below-mentioned points and decide for yourself.
- Bandhan Bank home loans can be applied by both salaried and self-employed individuals.
- You must have a minimum age of 23 years.
- The maximum age can go upto 65 years at the time of loan maturity or retirement age, whichever is earlier.
What are the documents that I’ll need to get a Home Loan?
Below are the documents that you’ll be needing at the time of the loan application.
- Valid KYC Identification and Address Proof
- Income Documents
- Repayment history of existing loans (if have any)
- Bank account statement for the last 6 months
- Details of the property