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Home Loan starts at 6.70% p.a.*

Limited period offer - 15th March 2021 to 15th April 2021

Gift your family a permanent new postal address with Saraswat Bank’s Vastu Siddhi Home Loan. With the lowest home loan rates, own a house and make it your home. For constructing a house or purchasing a ready or resale flat.  You can also avail home loan takeover facility.

Purpose:

  1. Construction of own house.
  2. Purchase of ready built house/ flat / resale flat.
  3. For takeover of housing loans from other banks/institutions.






Eligibility:

  1. Salaried Employees/Businessmen/Professionals having a regular source of income
  2. Salaried employees should have minimum 2 years of confirmed service.

Loan Amount:

  1. Maximum Rs. 70.00 lakh per beneficiary per Dwelling Unit.



Margin:

  1. 20% of (Agreement Cost + Stamp Duty + Registration)

Basis of advance:

A)  80% of (Agreement Cost* + Stamp Duty + Registration) or
     (Cost of land +construction thereon+ Stamp Duty + Registration)

*In case of resale flat, Market value or proposed agreement value + Stamp Duty + Registration whichever is less to be considered
The above is exclusive of Goods & Services Tax (GST)
                                                              OR      
B)  Salaried: 65 times of the net take-home salary of the applicant
     (Avg for the last 3 months)
     Businessman/Professionals/Self-employed: 5 times of Gross cash accruals of applicant (Avg for the last 3 years)

(A) Or (B) Whichever is lower

Repayment:

Maximum 20 years for salaried class/Professionals.

*Rate of Interest:

Limited period offer* - 15th March 2021 - 15th April 2021
CIBIL Score Based ROI
Loan Amount 700 and Above Below 700
Upto Rs.35 lakh 6.70% 7.00%
Above 35 lakh upto 70 lakh 6.70% 7.25%

*T&C Apply
Present PLR @ 14% p.a.

Combo offer for Vastu Siddhi customers :

Pre-sanction Super-Fast car loans for all new applicants of Vastu Siddhi home loans 
  1. Pre-sanction car loan of up to Rs. 6 lakh with a waiver of processing fees
  2. Min loan Ticket size of Rs. 50 lakh.
  3. Min Net salary of Applicant to be Rs. 30,000/- net of all EMI's.


Pre-sanction Credit card for all new applicants of Vastu Siddhi home loans -

Product +Loan Amount Pre-approved Credit limit upto
Housing Loan upto Rs.25 Lakh Rs.50,000/-
Housing Loan above Rs.25 Lakh upto Rs.50 Lakh Rs.1,00,000/-
Housing Loan above Rs.50 Lakh upto Rs.70 Lakh Rs.2,00,000/-

Processing fees:

Loan Amount Processing Fees
Upto Rs. 35 lakh Nil
Above Rs.35 lakh & upto Rs. 50 lakh Rs. 10000/- 
Above Rs.50 Lakh & upto Rs.70 lakh Rs. 20000/-
  1. 25% concession in applicable processing fee as per existing norms for housing loan   above Rs.35 lakh (limited period offer)
  1. In case of takeover of housing loan above Rs.35.00 lakh processing fee of Rs.10000/- will be applicable irrespective of the loan amount (limited period offer)
  2. All above charges are exclusive of GST

Shareholding:

  1. As per extant shareholding norms

Security:

  1. Equitable/ legal Mortgage of house property to be purchased.
  2. Spouse guarantee
  3. Personal guarantee may be considered depending on the merits of the proposal.

Top up loan:

1. Maximum Rs. 25 lakh
2. Repayment period subject to max. 20 years or due date of housing loan whichever is earlier
3. ROI on the top-up loan would be fixed @ 8.50% p.a.
4. Top-Up Loan for repayment of Debt and repairs/ renovations can be considered.
5. For repairs and renovation Max limit is Rs. 5.00 lakh in metro and Max limit is Rs. 2.00 lakh in other centers.
6. Outstanding balance of existing Housing Loan and proposed Top up loan should not exceed Rs.70.00 lakh.

Loan for Construction of House:

The Cost of land should not exceed 65% of total cost of Project and Construction should be completed within 24 Months.

Documents Required:

1. Duly filled prescribed application form
2. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
3. Salaried: salary slip for last 3 months and bank statement for last 3 months or ITR or form 16 for two years
4. Businessman: last 3 years profit & loss and balance sheet, ITR copies of last three years, 3-month bank statement.
5. Documents for creating mortgage as per requirement

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com