Disclaimer: Saraswat Bank is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Saraswat Bank for home loans. No offers/services from Saraswat Bank are being provided by Paisabazaar for home loans. For further information about Saraswat Bank for home loans, users are required to reach out directly to Saraswat Bank.
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Saraswat Bank Home Loan Highlights |
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| Interest Rate | 8.70% – 10.00% p.a. |
| Loan Tenure | Up to 20 years |
| Loan Amount | Up to Rs. 1.40 crore per beneficiary per dwelling unit |
| Processing Charges | Up to Rs. 15,000 + GST |
Note: Rates as of 5 November 2024
Table of Contents
Saraswat Bank Home Loan Interest Rates
Saraswat Bank offers home loan interest rates ranging from 8.70% p.a. to 10.00% p.a. depending on the CIBIL score of the applicants.
Compare Saraswat Bank Home Loan Interest Rates vs Other Lenders
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Check interest rates on Home Loans for other Banks and HFCs Compare Now
Saraswat Bank Home Loan Processing Fee & Charges
| Loan amount | Processing Fees | Takeover |
| Up to Rs 1 crore | NIL | NIL |
| Above Rs. 1 crore up to Rs. 1.40 crore | Rs 10,000 | Rs 15,000 |
Types of Saraswat Bank Home Loan
Vastu Siddhi Housing Loan
Purpose
Saraswant Bank offers regular Home Loan branded as Vastu Siddhi Home Loan. Applicants can use the loan proceeds for the construction of own house, the purchase of ready-built house/flat/resale flat and for takeover of home loans from other institutions/banks
Loan amount
Maximum Rs. 1.4 crore per beneficiary per dwelling unit
LTV Ratio
Up to 90% of (Agreement Cost + Stamp Duty + Registration). In the case of a home construction loan availed from Saraswat Bank, the cost of land should not exceed 65% of the total cost of the project and construction should be completed within 2 years.
Basis of advance
A) Maximum 90% of (Agreement Cost* + Stamp Duty + Registration) or
(Cost of land +construction thereon+ Stamp Duty + Registration)*In case of resale flat, proposed agreement value or market value + Stamp Duty + Registration, whichever is less
OR
B) For Salaried Applicants: 75 times of the net take-home salary (average for the last 3 months) of the applicant
For Businessman/Professionals/Self-employed: 6 times the gross cash accruals of the applicant (average for the last 3 years)
Existing Borrower with good track record for 1 year – latest audited gross cash accrual
(A) Or (B) Whichever is lower
Security
- Equitable or legal Mortgage of house property to be purchased
- Spouse guarantee
- Personal guarantee can be considered depending on the merits of the proposal
Combo Offer
Saraswat Bank claims to offer pre-sanction credit card based on the repayment capacity of the borrower subject to a maximum limit of Rs 5 lakhs to its Vastu Siddhi Customers.
Saraswat Bank Home Loan Top Up
Purpose
Top Up Loan can be used for repayment of debt and repairs or renovation
Loan amount
Saraswant Bank offers a top-up loan facility for up to Rs 10 lakhs. Applicants can avail a maximum of Rs 10 lakhs for repairs and renovation in metro cities and a maximum of Rs 6 lakh for other centers. The outstanding balance of the existing housing loan and proposed top up loan should not exceed Rs 1.4 crores
Tenure
Applicants can avail top up loan facility for a maximum of 17 years or a residual period whichever is lower
Interest Rate
Saraswant Bank Top Up loan interest rates are fixed @ 8.50% p.a.
Eligibility Criteria for Saraswat Bank Home Loan
Stated below are the eligibility criteria for availing home loan. The bank can also consider the nature of business (self-employed applicants), credit score, job profile (salaried applicants), monthly income, etc. of its applicants
while evaluating their home loan eligibility, just like many lenders do.
- Salaried Employees/ Professionals/Businessmen having a regular source of income
- Salaried employees should have a minimum of 2 years of confirmed service
Apply for Home Loan at Attractive Interest Rates Click Here
Documents Required for Saraswat Bank Home Loan
Stated below are the detailed list of home loan documents required to be submitted by Saraswat home loan applicants:
- Duly filled prescribed application form
- Latest photograph, residence proof, photo identity proof of the applicant and guarantors
- For salaried individuals: salary slip and bank statement for the last 3 months or ITR or Form 16 of 2 years
- For businessman: last profit & loss and balance sheet of last 3 years, ITR copies of last 3 years, 3-month bank statement
- Documents for creating mortgage
Saraswat Bank Home Loan EMI Calculator
Applicants can also visit Home Loan EMI calculator to check the amortization schedule for a detailed breakup of both principal and interest of home loan EMI.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395