Syndicate Bank was merged with Canara Bank as on 1st April 2020. As a result, existing Syndicate Bank customers are requested to use the banking features offered by Canara Bank. So, if you plan to take a home loan at Syndicate Bank it’s no longer possible as the bank is amalgamated with Canara Bank. 

Existing Syndicate Bank customers can still continue to visit their home branch to apply for a home loan. However, note that the branch will be renamed to Canara Bank, but the facilities and services will continue to remain the same. 

Additional Read: How do home loan EMI calculators help you? 

Home Loan EMI Calculator for Syndicate Bank Customers

Existing Syndicate Bank customers can use the home loan EMI calculator offered by Canara Bank to compute their preferred home loan EMIs. The calculator is available on the Canara Bank website and is free to use. 

Enter the three key parameters:

  • Loan Amount 
  • Tenure (in months) 
  • Interest rate

To calculate the EMI. Sample EMI calculation for a home loan of Rs. 20 lakhs for a tenure of 120 months (10 years) at interest rate 7.35%. 

Monthly EMI

Rs. 23,584.07

Total Interest paid over loan tenure

Rs. 8,30,088.50

Total payable amount

Rs. 28,30,088.50

Interest Percentage in the total payable amount

29.33%

 

Before you leave, 

  • After the merger of Syndicate Bank with Canara Bank, the Syndicate Bank website no longer exists. So, customers are requested to use the Canara Bank home loan EMI calculator to find their preferred EMIs. 
  • Also, don’t forget to check your eligibility for a home loan at Canara Bank.