Bandhan Bank Home Loan
Bandhan Bank, started in 2015, is a well-known private bank in India that began with a focus on helping rural and underprivileged communities. Over time, it has expanded to serve urban customers as well. The bank offers home loans for buying, building, or renovating a house, or purchasing a plot. These loans are available for both salaried and self-employed people, with easy repayment options, minimal paperwork, and competitive interest rates starting from 8.41% per year. You can also choose a repayment period of up to 30 years.
Bandhan Bank Home Loan Interest Rates
The following table outlines the interest rates applicable to various home loan schemes for salaried individuals:
- Suraksha Home Loan: 9.15% to 13.32% per annum
- Sajavat Home Loan: 9.15% to 13.32% per annum
- Su-Awas Home Loan: 13.00% to 15.00% per annum
- Suvidha Home Loan: 9.15% to 13.32% per annum
Note: These rates provide salaried borrowers with multiple options to choose a loan scheme that best suits their financial requirements.
Compare Home Loan Interest Rates Across Different Banks
| SBI Home Loan | 7.25% p.a. to 10.50% p.a. |
| HDFC Home Loan | 7.75% p.a. onwards |
| PNB Housing Finance | 7.70% p.a. to 11.45% p.a. |
| Axis Home Loan | 8.35% p.a. to 9.35% p.a. |
| Union Bank of India Home Loan | 8.60% p.a. onwards |
| Bank of Baroda Home Loan | Floating rate: 7.45% to 9.20% per year, Fixed rate: 9.15% to 10.20% per year. |
| LIC Home Loan | 7.50% p.a. onwards |
| Kotak Mahindra Bank Home Loan | 7.99% p.a. onwards |
| Central Bank of India Home Loan | 7.35% p.a. onwards |
| Aditya Birla Housing Finance | Salaried: 8.80%–14.00% p.a. & Self-employed: 9.10%–14.75% p.a. |
| HSBC Home Loan | 7.70% p.a. onwards |
| Standard Chartered Bank Home Loan | Starting from 8.95% p.a. |
| TATA Capital Home Loan | 7.75% p.a. onwards |
| YES Bank Home Loan | 9.00% - 11.50% p.a. |
| IDBI Home Loan | 7.65% p.a. onwards |
| Bandhan Bank Home Loan | 8.14% p.a. onwards |
| Federal Bank Home Loan | 8.75% p.a. onwards |
| South Indian Bank Home Loan | 8.30% p.a. onwards |
Types of Bandhan Bank Home Loan
Bandhan Bank offers a variety of home loan schemes to meet the diverse needs of home buyers, property builders, and home repair seekers. Here’s a detailed look at each home loan option:
1. Suraksha Home Loan
The Suraksha Home Loan is perfect for buying, constructing, or extending your house. This flexible scheme allows borrowers to get up to 90% of the property cost, including land and construction. Applicants must provide formal income proof, and additional surplus income is considered for eligibility.
- Age Eligibility: 21 to 75 years
- Loan Amount: Up to 90% of property cost
- Loan Tenure: 1 to 30 years
2. Sajavat Home Loan
Sajavat Home Loan is designed for home repair and renovation needs. Whether it is plumbing, roof repairs, painting, or other maintenance work, this loan covers up to 80% of repair costs. Your monthly income and surplus income are considered for eligibility.
- Age Eligibility: 21 to 75 years
- Loan Amount: Up to 80% of repair cost
- Loan Tenure: 1 to 15 years
3. Su-awas / Su-awas Saral / Suniwas Home Loan
These home loan schemes target micro-banking borrowers who may not have access to formal income proof. They are available for both salaried and non-salaried individuals and can be used for constructing pakka or semi-pakka houses. Eligibility is based on existing micro-banking customer status and completion of at least one loan cycle.
- Su-awas Home Loan: ₹1 lakh to ₹10 lakh, tenure 2–10 years
- Su-awas Saral Home Loan: ₹1 lakh to ₹7 lakh, tenure 2–10 years (for non-homestead land)
- Suniwas Home Loan: ₹50,000 to ₹5 lakh, for home extension
4. Suvidha Home Loan
Suvidha Home Loan is ideal for borrowers without formal income proof. Loans are granted based on cash flow and can be used for purchasing, constructing, or extending a house. Borrowers can get up to 90% of the property cost.
- Loan Amount: Up to 90% of property cost
- Loan Tenure: 1 to 30 years
These Bandhan Bank home loan schemes offer flexible terms and conditions to help home buyers, renovators, and micro-banking customers achieve their dream homes.
Bandhan Bank Home Loan Eligibility
| Criteria | Details |
|---|---|
| Age | 23 to 65 years |
| Employment | Salaried or self-employed |
| Nationality | Resident Indian |
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Documents Needed for Bandhan Bank Home Loan
If you want a home loan from Bandhan Bank, you will need the following documents:
For Salaried Individuals:
- Loan form with a recent photo
- Cheque for processing fees
- ID proof, address proof, and age proof
- Last 3 months’ salary slips, Form 16, and PF statement
- Bank passbook with 6 months of entries
- Income Tax Returns (ITR) for the last 3 years
- Copies of investments and life insurance
- Credit card copy with the latest statement
- Loan details for other ongoing or closed loans
- Rent agreement (if renting)
- Salary certificate (if no salary slips) and visiting card
For Self-Employed Individuals:
- Loan form with a recent photo
- Cheque for processing fees
- ID proof, address proof, and age proof
- Audited accounts for the last 3 years
- Income Tax Returns (ITR) for the last 3 years
- Business note with photos
- Bank passbook with 6 months of entries
- Copies of investments and life insurance
- Credit card copy with the latest statement
- Rent agreement for business space (if needed)
- Partnership deed or shareholding pattern and professional certificate
- Visiting card
Additional Property Documents:
- Approved construction plan, layout, and permissions
- Sale deed or agreement and proof of ownership
- Share certificate and allotment letter (for cooperative societies)
- Recent property photos
- No Objection Certificate (NOC) from authorities
How much loan can I get from Bandhan Bank?
Your loan depends on your income, credit score, and existing loans. You can borrow up to 90% of your property’s value.
How long can I take the home loan for?
You can choose a tenure from 1 year up to 30 years. Longer tenures reduce your monthly EMI.
Can I include my spouse’s income to get a bigger loan?
Yes, if your spouse is a co-applicant, their income can be counted to increase your loan eligibility.
Can I transfer my existing home loan to Bandhan Bank?
Yes, Bandhan Bank allows balance transfers from other banks. This can help you get lower interest rates or better services. You can also apply for a top-up loan while transferring.
Are there any penalties for prepayment, part-payment, or foreclosure?
No, there are no extra charges for paying your loan early or making part-payments.
Is property insurance mandatory?
Yes, the property must be insured against damages or unforeseen events during the loan period.
How does the bank check my loan eligibility?
The bank looks at your monthly income, credit history, and any existing loans before approving your loan.
Can I get a loan for a semi-pakka house?
Yes, loans are available for both pakka and semi-pakka houses. Semi-pakka houses use a mix of durable and less durable materials, such as brick walls with metal or thatch roofs.