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Home Loan

Home loans are available for purchasing new/resale flat/house or for construction of bungalow/house or for taking over home loan from other institutions. For Interest rate Click Here.


 Attractive Features of Home Loan Scheme :

 1. Processing fee of Rs. 1500/-.

 2. Other Family members' income can be considered for enhancing eligible loan amount.

 3. Interest levied on daily reducing balance.

 4. No prepayment penalty if the loan is foreclosed with own funds.

Cosmos Home Loan Scheme
Name Of Scheme "Cosmos Home Loan Scheme"
Loan Limit Upto Rs. 70 Lacs only.
Purpose For purchase of flat, row houses, construction of houses..
Margin For new flat - Loan will be extended up to 80 % of the total value of the flat including registration, stamp duty, processing fee, share money, mortgage expenses etc.
For Resale flat - Maximum upto 70 % of Agreement cost or valuation whichever is less. (In resale flat property age shall not be more than 20 yrs.)
Security Equitable mortgage of House property.
Period Repayment period for Home Loan will be 20 years. In case of takeover, unexpired period or 20 yrs. whichever is less.
Rate Of Interest For Interest rate Click Here.
Guarantors Two guarantors acceptable to the Bank will have to be provided.
Charges Process charges Upto Rs. 25.00 lacs – Rs. 3,000/-
Above Rs. 25.00 lacs to Rs. 70.00 lacs – Rs. 5,000/-
Share Money 1 % of sanction loan amount or Rs. 5000/-
Prepayment Charges No Prepayment charges
Foreclosure Charges a)No foreclosure charges will be applicable for Home Loan at floating ROI. (the tenure in which floating ROI is applicable)
b)If Housing loan is sanctioned under (Fixed ROI – resetting after first three years), foreclosure charges @1% on loan outstanding balance will be applicable, if account is foreclosed before completion of three years. After completion of three years foreclosure charges will not be applicable.
Documents Required Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors.
In case of salaried person, salary slip for last 3 months and bank statement for last 6 months, ITR for 3 years.
In case of businessman, last 2 years profit & loss, ITR copies of last 3 years, balance sheet and bank statement of business account for last 6 months.
Legal Documents for creating mortgage.
Title Documents All title documents required.
Interest Calculation Interest calculation on Daily reducing balance.
Insurance Comprehensive Insurance cover of the flat/property as per bank’s policy.