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Cochin banks and NBFCs provide home loans with low EMIs and attractive interest rates. Get personalized services and transparent processes. EMI as per your repayment capability. Check other offers now on CreditMantri!
Find your desired home in Cochin! If you are looking for a home loan in Cochin for your needs, you have come to the best place. Take a look at the latest interest rates and features of the loan in one place. Let’s take a look at the application procedure required and the documentation processes to get your home loan approved quickly.
You can find the presence of every major home loan lender, whether NBFC or Bank in Cochin. The loan is available for the age group between 18 to 75 years to self-employed or salaried persons. The interest rates are ranging from 6.90% to 11.5% and the maximum tenure is up to 30 years. The maximum loan amount differs as per the individual. A credit score greater than 750 can help in bagging lower interest rates.
Differs from bank to bank
Let's take a quick look at the interest rates of some leading Banks and NBFCS
PNB housing finance
Bank of Baroda
Rs. 5,528 - 18,020 per sqft
Rs. 10,479/sq. ft.
Rs. 825 - 27,500 per sqft
Rs. 4,000-12,857/sq. ft.
Rs. 5,641-46,154/sq. ft.
Rs. 5,199-7,513/sq. ft.
Rs. 2,917-11,485/sq. ft.
Rs. 7,800 /sq. ft.
Rs. 2,500-12,838/sq. ft.
Rs. 4,899- 10,000/sq. ft
Home loans can be availed to buy a residential property, or land, or to construct a house
Home loans to purchase a residential property
A home loan can be used to purchase a house or apartment. Banks typically lend 80 to 85% of the property's market value. They come in a variety of tenure lengths as well as fixed and floating interest rates. This can be used to buy new or previously owned homes that have been resold in the real estate market.
Loans for the purchase of residential plots
This loan is available for the purchase of vacant land or land for residential construction or investment. This loan cannot be used to purchase agricultural land. Land loans, as opposed to home loans, which typically offer 80 to 85% of the property's value, offer up to 90% of the cost.
Loans for home construction
Loans are only available for the purpose of constructing a home on previously owned land. The land could be an empty lot or it could be used to demolish an existing house and build a new one. The loan amount is typically between 85 and 90% of the construction cost.
Loans for home improvement
Borrowers can use these loans to help with home improvement or renovation projects. They can be used for any type of construction or renovation project. Paint jobs, new flooring, plumbing, and exterior elevation work are all covered by home improvement loans. Depending on the project, these loans could range from Rs. 20,000 to Rs. 10 lakhs.
You might also be interested to learn the difference between home loans and loan against property
Applicability criteria for salaried person
Applicability criteria for a self-employed person
You can have your own house or contract one in Gurgaon with the help of home loans which are easily available and the best interest rates are offered. The application process is also easy and the documentation is hassle-free. Make your dream come true!
1. Which is the best bank to get a home loan in Cochin?
Most leading banks offer home loans for properties purchased in Cochin. Bank of Baroda offers one of the lowest interest rates compared to other banks. PNB Housing Finance interest rate is also equally competitive. Private sector banks like HDFC and ICICI give you a lot of value adds. Compare the home loans from all these banks before you settle on one lender.
2. How do I find the monthly EMI for my home loan?
You can use the CreditMantri Home Loan EMI calculator to find the approximate EMI you have to shell out on your home loan.
3. Is credit score an important parameter to get a home loan in Cochin?
Yes, credit score plays an important role for home loan processing. A credit score of 750 and more is preferred by home loan lenders.
4. How long does it take to get a home loan approved?
A lot of documents must be reviewed before approving a home loan and this takes time. After submitting all required documents, one can expect their home loan to be approved within 30 days.
5. What are the different repayment tenures available for home loans in Cochin?
Home loans in Cochin come with a maximum repayment tenure of 30 years. However, this will be based on your age and determined by your lender on a case to case basis.
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