Bandhan Bank is one of India's leading private-sector banks. It was formed in 2015 and is engaged in various financial services. The bank originates from its microfinance origin and thus works mainly toward dispensing and serving underprivileged and rural people, but it is now gradually expanding into urban areas. You can get a competitive Bandhan Bank home loan interest rate, starting from 9.16%, to buy or construct a house, renovate your existing property, or even purchase a plot. Bandhan Bank provides home loans for salaried and self-employed candidates with easy repayment options, competitive interest rates, and minimum documentation.
Here, we will give you detailed information on Bandhan Bank home loan rate of interest, eligibility, documents, and application process.
The key highlights of Bandhan Bank housing loan interest rate are:
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Bandhan Bank Home Loan - Highlights |
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Bandhan Bank Home Loan Amount |
Up to 90% of property value |
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Bandhan Bank Loan Interest Rate |
9.16% to 15.00% |
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Loan Tenure |
1 year to 30 years |
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Loan Processing Charges |
0.25% to 1.00% based on scheme + GST |
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Prepayment Charges |
For fixed rate loan - (a) 4% of Outstanding Principal + GST For loans repaid Less than 12 months (b) 2% of Outstanding Principal + GST For loans repaid more than 12 months (c) Nil- For Cases disbursed under Erstwhile Gruh, subject to submission of documentary proof of own source of funds For floating rate loan – NIL for individuals and 2% + GST for non-individuals |
Last modified in June 2024. Source: Bandhan Bank Website
The Bandhan Bank home loan rate of interest differs based on the type of loan:
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Bandhan Bank Home Loan Interest Rates 2024 |
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Type of Home Loan |
Interest Rate |
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Suraksha Home Loan |
9.16% to 13.33% |
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Sajavat Home Loan |
9.16% to 13.33% |
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Su-awas/ Su-awas Saral/ Suniwas Home Loan |
13.00% to 15.00% |
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Suvidha Home Loan |
9.16% to 13.33% |
Last modified in June 2024. Source: Bandhan Bank Website
The different types of loans you can get from Bandhan Bank are explained below:
Bandhan Bank provides home loans for purchasing, constructing, or extending a house, and the scheme is thus quite flexible for home borrowers. Formal income proof is required to be presented by the applicants. The loan amount a borrower can get sanctioned is 90% of the property's total cost, including land and construction. While proof of regular income is required, additional surplus income is also considered for loan eligibility.
Age: Minimum – 21 years; Maximum – 75 years at the time of maturity or retirement age, whichever is earlier
Loan amount: – up to 90% of the cost of property (includes land and construction)
Tenure: Minimum– 1 year; maximum– 30 years
If you are looking forward to repairing your home but need a loan suitable for plumbing, roof re-laying, painting, or other things, the Sajavat home loan from Bandhan Bank is ideal. Using this loan, you can cover as much as 80% of the repair work. Your monthly income and surplus income will be considered when determining loan eligibility.
Loan amount – up to 80% of the cost of repair work
Tenure - Minimum– 1 year; maximum– 15 years
Age - Minimum – 21 years; Maximum – 75 years at the time of maturity or retirement age, whichever is earlier
IOB has an exclusive loan product for micro-banking borrowers. It extends credit for those who may not be served otherwise. Both salaried and non-salaried individuals are eligible for this scheme. It is possible to construct pakka and semi-pakka houses with this loan. The best feature is that no formal proof of income is required, and eligibility is determined on a case-by-case basis. The only eligibility is that you must be an existing micro-banking customer who has completed at least one loan cycle. The features are as follows:
Su-awas Home Loan
Su-awas Saral Home Loan
Suniwas Home Loan
Need a loan but don't have a formal income proof? The Suvidha loan is ideal for you as you can get a loan based on the cash flow. You can get this loan for purchasing, construction, or extension of the house. As much as 90% of the property cost can be obtained as loan amount. This includes land plus construction if you are thinking about building your dream home.
Tenure: Minimum – 1 year, maximum – 30 years
Loan Amount: 90% of the property cost
Given below is the list of essential documents required for Bandhan Bank housing loan application:
Bandhan Bank primarily caters to micro borrowers and those from rural backgrounds, so the loan application process can be completed by visiting the branch. When you carry all the necessary documents, the friendly bank personnel will walk you through the loan application process. Eligibility for home loans is determined on a case-by-case basis.
With the floating Bandhan bank home loan interest rate, you need not pay any prepayment charge if you finish your loan early. An online payment option is available to make it easy for customers to pay their loan EMI. As your disposable income and surplus income are considered, you may qualify for a higher loan amount and lower interest rate based on your history with the bank.
Here is a comparison table of the top bank's interest rates for home loans.
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Top Banks' Home Loan Interest Rates 2024 |
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Name of Lender |
Interest rate |
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SBI |
8.50%-9.85% p.a. |
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HDFC Bank Limited |
8.70% p.a. onwards |
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LIC Housing Finance |
8.50% - 10.35% p.a. |
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ICICI Bank |
8.75% p.a. onwards |
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Kotak Mahindra Bank |
8.70% p.a. onwards |
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PNB Housing Finance |
8.50% - 14.50% p.a. |
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Punjab National Bank |
8.45% - 10.25% p.a. |
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Bank of Baroda |
8.40% - 10.65% p.a. |
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IDFC First Bank |
8.85% p.a. onwards |
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L&T Finance Limited |
8.65% p.a. onwards |
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Tata Capital Housing Finance |
8.75% p.a. onwards |
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Yes Bank |
9.40% to 11.50% |
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Axis Bank |
8.75%-13.30% p.a. |
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Godrej Housing Finance |
8.55% p.a. onwards |
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IOB |
8.40% p.a onwards |
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Bandhan Bank |
9.16% p.a. onwards |
Last modified in June 2024. Please refer to the official websites of the respective banks/NBFCs to get the latest rates.