Saraswat Bank Home Loan

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.

Note: Rates as of 3 December 2024

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.

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Saraswat Bank Home Loan Processing Fee & Charges

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.