Saraswat Bank Home Loan Interest Rates

Discover Saraswat Bank's competitive home loan interest rates, influenced by your CIBIL score and loan amount. Rates vary as follows: 7.25% to 7.65% for a CIBIL score of 750 or above, 7.75% to 8% for scores between 700-749, and 8.25% to 8.35% for scores below 700. Don't wait—apply now!

Updated: 18-10-2023 1:17:06 PM

Details of Saraswat Bank Home Loan

Originally founded to provide temporary accommodation, Saraswat Bank has evolved to offer a range of loans, including home loans for both salaried and self-employed individuals. You can avail up to 70 Lakhs for home purchase or construction, with options to transfer loans from other lenders. Transparency in interest rates and superior customer service make these loans attractive. Apply online for a Loan Against Property too, and explore eligibility, rates, and documentation requirements.

Interest Rate Overview

Home loan interest rates are tied to Saraswat Bank's Prime Lending Rate (PLR) of 8.60%. Rates are:

• Up to 28 Lakhs: 8.55% for women, 8.65% for others.
• 28-50 Lakhs: 8.80% for all.
• Above 50 Lakhs: 9% for women; 9.05-9.15% for others.

Women borrows get a 0.10% discount under certain conditions, like sole or joint ownership of the property, with loan amounts not exceeding 28 Lakhs if the dwelling cost is under 35 Lakhs.

Top-Up Loans

Saraswat Bank offers Top-Up Loans of up to 25 Lakhs, with conditions that the total does not exceed 70 Lakhs per dwelling. Top-Up rates vary: 9% up to 5 Lakhs, 10% above 5 Lakhs. Exclusive deals include a pre-sanctioned car loan for those borrowing 50 Lakhs or more, and a credit card based on home loan amounts.

Processing Charges

Attractive processing fees apply, like no charges for loans up to 28 Lakhs; 10,000 for loans up to 50 Lakhs; and 20,000 for more than 50 Lakhs. Special waivers are available in combo offers with car loans.

Involvement in PMAY

Active in several states including Maharashtra and Karnataka, Saraswat Bank supports the Pradhan Mantri Awas Yojana (PMAY), providing benefits that include no restrictions on carpet area for EWS and LIG, specific dimensions for MIG categories, and interest subsidies up to 6.50% for different income categories. Borrowers receive the subsidy directly in their loan account, substantially reducing EMI obligations. For instance, an LIG borrower could see their EMI drop from 5,226 to 2,900 on a 6 Lakh loan over 20 years, following a 2.67 Lakh subsidy.