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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:

Purchase of ready built house/ flat / resale flat. In case of resale or old property, loan tenure should not exceed residual life of the property as per valuation report


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% (Agreement Cost + Stamp Duty + Registration

Basis of advance:

i)   80% of (Agreement Cost* + Stamp Duty + Registration) or (Cost of land +construction thereon+ Stamp Duty + Registration)
The above is exclusive of Goods & Services Tax (GST)
*In case of resale flat, Market value or proposed agreement value + Stamp Duty + Registration whichever is less to be considered.
Valuation to be done for resale property if property age is more than three years old.                                                                          
  OR       

ii)   Salaried: 65 times of the net take-home salary (Avg for the last 3 months) of the applicant
Businessman/Professionals/Self-employed: 5 times of Gross cash accruals (Avg for last 3 years) of applicant or latest audited gross cash accrual with justification

*Whichever is lower

Repayment:

Maximum 20 years for salaried class/Professionals.

Rate of Interest:

Location / Centre Loan Amount ROI Floating *
Metropolitan centres Upto Rs. 35 lakh 7.55%* p.a (PLR-6.45%)
Metropolitan centres Above  Rs. 35 lakh to Rs. 70 lakh 7.80% p.a (PLR-6.20%)
Other centres Up to Rs. 25 lakh 7.55%* p.a (PLR-6.45%)
Other centres Above  Rs. 25 lakh to Rs. 70 lakh 7.80% p.a (PLR-6.20%)

Present PLR @ 14% p.a.
* In case cost of dwelling in the metropolitan centre and at other centres is above Rs. 45 lakh and Rs. 30 lakh respectively then Rate of Interest for non-priority loan will be 7.80% pa.

Combo offer for Vastu Siddhi customers :

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

Personal guarantee may be considered depending on the merits of the proposal.

Pre-sanction Credit card for all new applicants of Vastu Siddhi home loans with waiver in AMC charges for first year (limited period offer)

Product +Loan Amount Credit limit to be assigned
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/-

Surprise Gift at the time of disbursement  (Limited period offer)

Processing fees:

Loan Amount Processing Fees
Upto Rs. 35 lakh Nil
Above Rs.35 lakh & upto Rs. 50 lakh Rs. 10000/- + GST
Above Rs. 50 Lakh Rs. 20000/- + GST

*25% concession in applicable processing fee as per existing norms, offer valid until 31st Dec 2020.

Shareholding:

  1. As per extant shareholding norms

Security:

Equitable/ legal Mortgage of house property to be purchased.

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 for Housing loan and repairs/ renovations can be considered.
    Top up loan upto Rs.10.00 lakh can be considered. Housing Loan and Top up loan should not exceed Rs.70.00 lakh per dwelling per beneficiary.

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








Pradhan Mantri Awas Yojana
Saraswat Bank  is pleased to offer "Credit Linked Subsidy Scheme"  under Pradhan Mantri Awas Yojana. To know more -Click here

Conditions Apply*

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) 2400 5555
Email: corporatecenter@saraswatbank.com