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Corporation Bank home loans provide attractive interest rates with floating and fixed type based on your preference. Get a loan up to Rs. 5 crores and a loan tenure of up to 30 years. Transparent application processes. Apply now through CreditMantri!
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Corporation Bank Bank Limited is an Indian banking and financial services company headquartered in Mangalore. The bank has a network of 2,440 fully automated CBS branches, 3,040 ATMs , and 4,724 branchless banking units across the country. Corporation Bank provides a wide range of banking products and financial services to retail and corporate customers.
Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.
Corporation Bank of India Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. Corporation Bank of India Bank provides customised home loan solutions for purchase of a house, construction and extension of dwelling units. Packed with exclusive benefits, Corporation Bank of India Bank Home Loans are tailor made, catering to the needs of various customers.
Corporation Bank of India Bank home loan aims to help millions of people achieve their dream of owning a house.
Up to 5 crores
Up to 30 years of repayment period is available under Corporation Bank home loan scheme.
No penalty is levied on prepayment
0.50% of the loan amount or maximum of INR 50,000.
Floating and Fixed
Home Loan Transfer:
You can transfer your home loan from other bank to Corporation Bank at ease.
Corporation Bank allows you to get additional funding over your existing home loan. It can be used to renovate your house, fund your child’s education, new home theatre system etc.
To avail the home loan from Corporation Bank, you need to have the following eligibility criteria.
Important documents to be submitted while applying for home loan with Corporation Bank
For guarantor (wherever applicable):
Your Corporation Bank of India Bank home loan can be repaid in following three ways.
Standing Instruction (SI):
If you are an existing account holder with Corporation Bank of India Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Corporation Bank of India Bank account you specify.
Electronic Clearing Service (ECS):
This mode can be used if you have a non-Corporation Bank of India Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
Post-Dated Cheques (PDCs):
You can submit post-dated EMI cheques from a non-Corporation Bank of India Bank account at your nearest Corporation Bank of India Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
You can either apply online or visit a nearby Corporation Bank of India Bank branch for the application. You can also download the home loan application form from the Corporation Bank of India Bank official website, complete the form and submit it the bank representative.
You can also check your eligibility for a home loan through CreditMantri and apply for it.
With attractive interest rates and low processing fees, Corporation Bank of India Bank caters to the needs of various sections of people. Floating and fixed type of interest rate are available according to the preference of the customers. The borrowers can prepay the Corporation Bank of India Bank home loan without any penalty. Corporation Bank of India Bank home loan is the best option to buy or construct your dream house.
1. What are processing fees on Corporation Bank of India Bank Home Loans?
The processing fee is 0.50% of the loan amount sanctioned
2. Is there penalty for prepaying the Corporation Bank of India Bank Home Loan?
No penalty is levied for prepaying the Corporation Bank Home Loan.
3. Can I top up my existing Home Loan?
Yes, you can get additional funding on your existing home loan.
4. What is the maximum loan repayment period for Corporation Bank of India Bank home loans?
The maximum repayment period is 30 years.
5. How Can I apply for Corporation Bank of India Bank home loan?
You can either apply online or visit a nearest Corporation Bank of India branch and take the help of the bank’s representative.
6. What is the maximum loan amount provided by Corporation Bank of India Bank?
The maximum loan amount is 5 crores.
7. Does Corporation Bank of India Bank facilitate balance home loan transfer?
Yes, you can transfer your existing home loan to Corporation Bank.
8. Can I get tax benefits from Corporation Bank of India Bank Home Loan?
As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.
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