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.
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
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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