Being a renowned bank in the country, there is no denying that Bandhan Bank is a name you can trust. The bank, with its widest range of financial products and services, meets your varied needs best. Talking about Bandhan Bank home loans, the bank offers this credit facility at an attractive interest rate to all loan seekers. So, without wasting any time further, let’s just know more about Bandhan Bank Home Loan Interest Rates on the page below.
Bandhan Bank Home loan Interest Rate February 2025
These are the latest Home loan interest rates offered by Bandhan Bank, understand the table to know better -
| Particulars | Details |
|---|---|
Interest Rates | 9.16% p.a. - 13.33% p.a |
Loan Amount | Up to 90% of the property's cost, including land and construction. |
Tenure | From 1 year to 30 Years |
Processing Fee | 1% of the Loan Amount+GST |
Features of Bandhan Bank Home Loan
These are points of one of the Best Home Loans in India, i.e., Bandhan Bank, read to know more about them -
- No Formal Income Proof Required – Simplified documentation for easy loan approval.
- Income for Loan Amount Assessed Based on the Applicant’s Cash Flow – Eligibility determined by cash flow analysis instead of traditional income documents.
- Loan Available for Purchase/Construction/Extension of House – Flexible financing options for various housing needs.
- Loan Amount – Up to 90% of the property's cost, including land and construction. The High loan-to-value (LTV) ratio for better affordability.
- Minimum Tenure – 1 year; maximum tenure is up to 30 years. There is a flexible repayment period to suit different financial plans.
Eligibility Criteria For Bandhan Bank Home Loan
Here is the list of eligibility criteria that is required by the bank to accept the home loan application, go through it before applying for a Bandhan bank home loan -
Age:
- Minimum – 21 years
- Maximum – The maximum age at maturity or retirement age, whichever comes first, is 75 years.
Your monthly disposable or surplus income will be assessed for eligibility.
Calculate Monthly EMIs on the Bandhan Bank Home Loan EMI Calculator
To calculate your Bandhan Bank EMIs at various interest rates, use our Wishfin Bandhan Bank home loan EMI Calculator online for a quick and easy calculation of home loan EMI.
You can simply put the following details -
- Loan Amount
- Tenure
- Interest Rate
For Ex, The table below displays the equal monthly payments (EMIs) for a, say, Rs. 20,00,000 home loan with interest rates ranging from 9.16% up to 13.33% annually for terms up to 30 years. You can change the loan amount and other details to suit your needs.
| Tenure (In Years) | EMI (at 9.16% interest rate) | EMI (at 13.33% interest rate) |
|---|---|---|
5 | Rs. 41,672.19 | Rs. 45,844.72 |
10 | Rs. 25,508.66 | Rs. 30,252.69 |
15 | Rs. 20,476.13 | Rs. 25,740.66 |
20 | Rs. 18,200.84 | Rs. 23,903.27 |
25 | Rs. 17,003.60 | Rs. 23,055.08 |
30 | Rs. 16,323.23 | Rs. 22,641.02 |
Documents Required for Bandhan Bank Home Loan
Here is the list of documents that are required while availing of the home loan from Bandhan Bank. Go through the list below -
For Salaried Individuals -
- Loan application form with fresh photograph
- Cheque with applicable processing charges
- Customer Relationship Form with fresh photograph
- Photo ID proof (refer to KYC document)
- Address proof (refer to KYC document)
- Age proof (refer to KYC document)
- Salary slips for the last 3 months
- Latest PF statement
- Form 16 issued by your employer
- Copy of ITR filed for the last three years
- Photocopy of investments
- Photocopy of life insurance policies
- A copy of the bank passbook for all accounts, displaying transactions from the last 6 months.
- In case of any Active and closed other loans which is availed -
- Copy of sanction letter
- Updated repayment track
- No dues in case of closed loans
- A photocopy of your credit card along with the most recent monthly statement.
- In case you do not have a regular salary slip, then the salary certificate on the employer’s letterhead is duly stamped and signed.
- Visiting card
- A copy of the rental agreement if your current residence is rented
For Self-Employed Individuals
- Loan application form with fresh photograph
- Processing charges cheque as applicable
- Customer Relationship Form with fresh photograph
- Photo ID proof (refer to KYC document)
- Address proof (refer to KYC document)
- Age proof (refer to KYC document)
- Copy of audited/certified accounts, including schedules for the last three financial years
- A copy of the Income Tax Returns (ITR) filed for the past three years.
- Business note in Bandhan Bank's format,along with photographs of the place of business
- Photocopy of investments
- Photocopy of life insurance policies
- A copy of the bank passbook for all accounts, reflecting transactions from the past 6 months.
- In the case of other loans taken (both active and closed)
- Copy of sanction letter
- Updated repayment track
- No dues in case of closed loans
- The last month's statement and a photocopy of your credit card
- If the business is on rent, then the photocopy of that place
- Shops and Establishment licence for your commercial entity
- Copy of your professional degree/qualification certificate
- Partnership deed/shareholding pattern of your entity
- Visiting card
- A copy of the rent agreement if your current accommodation is rented
The following additional legal and technical documents shall also have to be provided -
- Approved plan for the construction with estimated layout plan and construction permission
- Copy of sale deed/agreement to sell/construction agreement/amenities agreement
- Copy of ownership documents of previous owner(s)
- Proof of ownership in revenue records viz. property card, Form 7/1 2, Form 8-A, Form 6, etc.
- In the case of the Co-operative Society, a copy of the share certificate and allotment letter
- Latest photographs of the property
- Margin money paid receipts
- NA permission from the concerned authority
- NOC to mortgage from concerned authorities such as society, development authority, etc.
All documents should be self-attested before submitting to the Bandhan Bank Home loan. There should be all the documents maintained as a copy before submitting the Bandhan Bank Home Loan application.
Bandhan Bank Home Loan Balance Transfer Interest Rates
Enjoy lowest interest rates and pocket-friendly EMIs as Bandhan Bank offers the balance transfer facility to one and all. Yes, if your existing home loan lender is charging a higher home loan interest rate, all you need to do is simply transfer your existing home loan to Bandhan Bank and save a lot on your EMI and Interest.
Other Charges For Bandhan Bank Home Loan
The table contains other fees of Bandhan Bank Home Loan, go through it properly to understand them -
Part Payment Charges | Nil |
Foreclosure Charges | Nil for Floating Loan Rate 2% to 4% of the Outstanding Principal Amount for Fixed Rate |
Non-refundable Login fees | Rs.3500/- +GST |
4 Prepayment charges on Fixed ROI Loans | (a) 4% of Outstanding Principal + GST for loans repaid within 12 months. (b) 2% of Outstanding Principal + GST for loans repaid after 12 months. (c) No charge for Erstwhile Gruh cases (proof of own funds required). |
Prepayment charges on Floating ROI Loans |
|
ROI Conversion charges | 0.50% to 1.25% of the outstanding balance, based on selected options. |
CERSAI charges for registration | (a) For creation: Rs. 100/- per account + GST (b) For satisfaction: NIL |
Summary!
Bandhan Bank home loan interest rates, catering to various borrower profiles. With flexible repayment options and transparent charges, it provides an affordable financing solution for homebuyers. The bank also ensures a seamless loan application process, quick approvals, and customer-friendly policies, making homeownership more accessible and hassle-free.
FREQUENTLY ASKED QUESTIONS
1. What is the home loan interest rate of Bandhan Bank?
The latest Bandhan Bank home loan interest rate starts from 9.15% p.a. up to 13.33% p.a.
2. Is any pre-payment penalty available under Bandhan Bank Home Loans?
Bandhan Bank does not impose prepayment penalties on individuals with floating-rate home loans, enabling early repayment without extra charges.
3. What is the maximum amount of loan we can get under Bandhan Bank Home Loan?
The maximum loan amount you can get from Bandhan Bank depends on factors such as your income and credit score. You can avail of up to 90% of the property cost as a loan.
4. What are the factors that might affect the Bandhan Bank Home Loan Eligibility?
The eligibility for a Bandhan Bank home loan is primarily based on the applicant's monthly disposable income or surplus income.
5. How is the minimum credit score or CIBIL score required for Bandhan Bank Home Loan?
Bandhan Bank does not have a specified minimum credit score for home loan applicants. However, applicants with a credit score of 750 or higher typically have better chances of securing a home loan at more favorable interest rates.
6. Are there any options for transferring the current loan to Bandhan Bank Home Loans?
Yes, Bandhan Bank provides a balance transfer facility, allowing you to transfer your existing home loan if you're dissatisfied with your current bank's services or interest rates. This option lets you transfer the loan to Bandhan Bank and benefit from lower interest rates.
