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Product Details
Bank Name

Bandhan Bank Limited

Maximum Loan Tenure

Not specified.

Maximum Loan Amount

Not specified.

Interest Rate

Minimum interest rate – 13.00%
Maximum interest rate – 15.00%
Final interest rate will be decided as per Individual Credit Score

Type

Not specified.

Su-awas Micro Home Loan
Down Payment

Not specified.

Fees and Charges

Non-Refundable Login fees: INR 3500.
Processing Fees: 0.25% to 1.00% depending on scheme+ GST.
Prepayment Fee: no prepayment fee for floating rate interest loan.
Penal fee: 2% per month on the overdue amount, i.e., 24% per year.
Legal Fee: At actuals.
Stamp Duty And Registration Fee: At actuals.

Minimum CIBIL Score

Not specified.

Down Payment and Fees
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Su-awas Micro Home Loan

Special Features

None.

Eligibility Criteria
  • The borrower must be an existing micro-banking customer of Bandhan Bank with a satisfactory repayment track record.

  • The borrower must be between 23 and 65 years of age at the time of loan maturity.

  • The borrower must have a regular source of income from either salaried or non-salaried occupation.

  • The borrower must have a clear title deed and valid documents for the property to be financed.

  • Existing micro banking borrowers who have completed minimum 1 cycle of loan

Special Concession

No Special Concession.

Home Saver Option

No.

Features, Eligibility and Concession
Pros
  • It caters to the housing needs of low-income and rural customers who are micro-banking borrowers of Bandhan Bank.

  • It allows the construction of semi-pakka and pakka houses with minimal documentation and quick processing.

  •  It does not charge any prepayment fee for individual borrowers on floating rate loans, which gives them the flexibility to repay their loan faster without any penalty

Cons
  • It has a high processing fee. 

  • Loan comes with a a number of ancillary fees such as: login fee.

  • It does not have a home saver option, which means you cannot save on interest by linking your home loan account with your savings or current account.

Pros & Cons
Application Procedure

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