Suryoday Small Finance Bank Home Loan Highlights 2023
|Interest Rate||10.5% to 16% p.a. onwards|
|Loan Amount||Up to Rs 1 crore|
|Loan Tenure||Up to 20 years|
|Processing Fees||1% – 2% plus GST|
Note: Interest rates as on 30th November 2023
Suryoday Small Finance Bank Home Loan Interest Rates
Suryoday Small Finance Bank Home Loan interest rates range between 10.50% and 16% p.a. While Suryoday Bank has not disclosed offering differential interest rates for its home loan applicants based on their credit scores, income, occupation profile, EMI/NMI ratio, etc., most lenders decide their home loan interest rates based on the above mentioned criteria.
Compare Interest Rates on Housing Loans for Top Banks and /HFCs
|Name of Lender||Up to Rs. 30 Lakh||Above Rs. 30 Lakh to Rs. 75 Lakh||Above Rs. 75 Lakh|
|SBI||8.40% - 10.15% p.a.||8.40% - 10.05% p.a.||8.40% - 10.05% p.a.|
|HDFC Bank Limited||8.35% p.a. onwards||8.35% p.a. onwards||8.35% p.a. onwards|
|LIC Housing Finance||8.40% – 10.35% p.a.||8.40% – 10.55% p.a.||8.40% – 10.75% p.a.|
|ICICI Bank||8.75% p.a. onwards||8.75% p.a. onwards||8.75% p.a. onwards
|Kotak Mahindra Bank||8.70% p.a. onwards||8.70% p.a. onwards||8.70% p.a. onwards|
|PNB Housing Finance||8.50% - 14.50% p.a.||8.50% - 14.50% p.a.||8.50%-11.45% p.a.|
|Punjab National Bank||8.45%-10.25% p.a.||8.40%-10.15% p.a.||8.40%-10.15% p.a.|
|Bank of Baroda||8.40% - 10.65% p.a.||8.40% - 10.65% p.a.||8.40% - 10.90% p.a.
|Union Bank of India||8.40% – 10.80% p.a.||8.40% – 10.95% p.a.||8.40% – 10.95% p.a.|
|IDFC First Bank||8.75% p.a. onwards||8.75% p.a. onwards||8.75% p.a. onwards|
|L&T Finance Limited||8.60% p.a. onwards||8.60% p.a. onwards||8.60% p.a. onwards|
|Bajaj Housing Finance||8.50% p.a. onwards||8.50% p.a. onwards||8.50% p.a. onwards|
|Tata Capital Housing Finance||8.70% p.a. onwards||8.70% p.a. onwards||8.70% p.a. onwards|
|Federal Bank||8.80% p.a. onwards||8.80% p.a. onwards||8.80% p.a. onwards|
Compare Home Loan Schemes Offered by Top Lenders Compare Now
Fees and Charges for Suryoday Small Finance Bank Home Loan
Suryoday Home Loan Processing fees
|Processing fees||1% – 2% plus GST|
Suryoday Small Finance Bank Home Loan Prepayment / Foreclosure charges
|Prepayment / Foreclosure charges||For individuals
Other Charges related to Suryoday Small Finance Bank Home Loans
|Handling / Admin charges||Rs 5,000 plus GST|
|Stamp duty charges||Actuals|
|Late payment fee||36% p.a.|
|Cheque return / SI return / NACH return charges||Rs 500 per instance|
|Cheque pick up charges||Rs 100 per visit|
|Copy of Property Documents||Rs 1,000 per instance|
|Swapping / Security Cheques / NACH / Replacement of UDCs||Rs 1,500 per instance|
|Duplicate statement charge||Rs 200 per instance|
|Reissuance of DD / PO||Rs 200 per instance|
|Duplicate certificate or interest paid certificate||Rs 500 per instance|
|Copy of credit information obtained from CIBIL||Rs 100 per instance|
Eligibility Criteria for availing Suryoday Small Finance Bank Home Loan
Salaried individuals, self-employed professionals and self-employed non-professionals are eligible for availing Suryoday Small Finance Bank Home Loans. Ensure to check the home loan eligibility criteria set by top banks or HFCs before making the home loan application.
Documents required for Suryoday Small Finance Bank Home Loan
Although Suryoday Small Finance Bank has not provided the list of documents required for home loans, lenders usually require their loan applicants to submit the following home loan documents:
- Proof of Identity (any one): PAN Card, Driving Licence, Voter’s ID Card, Aadhaar Card, etc.
- Proof of Residence (any one): Ration Card, Bank Passbook, Passport, Voter’s ID, Utility bills (telephone / electricity / water / gas), etc.
- Proof of Age (any one): Aadhaar Card, Birth Certificate, Passport, bank passbook, etc.
- Proof of Income (for salaried): Form 16, Increment/Promotion letter, certified letter from Employer, Last 3 years IT returns, payslip of last 3 months, etc.
- Proof of income (for self-employed): Income Tax Returns of last 3 years, Balance Sheet and P&L account statement of the company/firm (duly attested by a C.A.), professional practice licence (for doctors, consultants, etc.), details of business licence, etc.
- Proof of business address
- Property documents: Receipts of payments made to the developer (in case of a new house), a copy of the sale agreement (if already executed), title deeds of the plot (in case of house construction), receipt of initial payment made to the house seller, detailed estimate of house construction by an architect or civil engineer, copy of the plans approved by local authorities
- Other documents: Proof of own contribution, last 6 months’ bank statements showing repayment of ongoing loans (if any), details of any ongoing loans of individual/business entity, processing fee cheque in favour of home loan lender
- Partnership Deed (in case of a partnership firm)
- Additional documents for self-employed: Form 26 AS (latest), business profile, list of directors and shareholders with details of individual shareholding certified by CA / CS (if the business entity is a company)
- Articles of Association (AOA) and Memorandum of Association (MOA) of the Company
Note: The list of documents for home loans mentioned above is indicative. Suryoday Small Finance Bank may ask for additional documents from its loan applicants based on their profile.