Corporation Bank home loans interest rates start at 6.40%.
Corporation Bank home loan interest rates are majorly based on your credit score; the higher the credit score, the lower the interest rate.
So if you have a credit score of 800 and above, you can get an interest rate of 6.40% on your home loan of up to Rs.30 lakhs.
Based on the loan amount and your credit score, the interest rate varies. The initial interest rate can start from as high as 7.50%.
Is Corporation Bank Home Loans good?
Corporation Bank Home Loans offer you the following benefits:
- Available for both Indian citizens and NRIs
- No maximum limit on loan amount
- Up to Rs.30 lakhs loan available for repairs/renovations
- Up to 90% loan available for loan amounts less than Rs.30 lakhs
- Repayment period of up to 30 years
- Equated Quarterly Instalment (EQI) option available for applicants involved in agriculture and allied activities
- Processing charges at just 0.50% of the loan amount, subject to a maximum of Rs.15000
- Loans at a floating rate of interest with no prepayment penalty
Corporation Bank was recently merged with Union Bank of India and Andhra Bank. Still, Corporation Bank customers can avail of these great offers when they are planning to purchase a house or plot for house construction.