Home Loan Eligibility Criteria for Saraswat Co-operative Bank
Eligibility depends on income stability, repayment capacity, credit profile, and property details.
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Eligibility Factor
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Requirement
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Applicant Type
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Salaried, Self-Employed, Professionals
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Minimum Age
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21 years
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Maximum Age at Loan Maturity
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As per bank norms
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Employment Status
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Minimum continuous service/business continuity required
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Income Criteria
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Based on net monthly income and repayment capacity
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Credit Score
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Preferably healthy credit profile
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Property Type
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Approved residential property only
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Loan Tenure
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Flexible tenure as per scheme
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Eligibility may vary depending on loan scheme, city, and applicant profile.
Saraswat Co-operative Bank Home Loan Schemes
The bank offers multiple housing loan options to suit different needs:
1. Home Purchase Loan
For buying a new or resale residential property.
2. Home Construction Loan
For constructing a house on an owned plot.
3. Home Improvement / Renovation Loan
For repairs, extension, or modernization of an existing house.
4. Home Loan Balance Transfer
Transfer your existing home loan from another bank or NBFC to Saraswat Co-operative Bank for better terms.
5. Plot Purchase Loan
For buying residential plots (construction may be mandatory within a defined period).
What Documents Required for Home Loan – Saraswat Co-operative Bank
| Document Category |
Required Documents |
| Identity Proof |
Aadhaar Card, PAN Card, Passport, Voter ID |
| Address Proof |
Aadhaar, Utility Bill, Passport |
| Income Proof (Salaried) |
Last 3 months’ salary slips + Form 16 + 6 months bank statements |
| Income Proof (Self-Employed) |
ITR, Profit & Loss Statement, Balance Sheet |
| Property Documents |
Sale agreement, Title deed, Approved building plan |
| Bank Statements |
Last 6 months |
| Photographs |
Passport-size photographs |
Additional documents may be requested based on applicant profile and property type.
Tax Benefits on Saraswat Bank Home Loan
Borrowers can avail income tax benefits on home loans as per prevailing Income Tax Act provisions:
Section 80C – Deduction on principal repayment
Section 24(b) – Deduction on interest paid
Section 80EE / 80EEA – Additional benefits for first-time home buyers (if applicable)
Tax benefits are subject to prevailing government rules and individual tax eligibility.
Loan Processing Fee & Other Charges
Saraswat Co-operative Bank maintains transparent and reasonable charges:
- Processing Fee – As per bank norms
- Legal & Technical Charges – Actuals or bank-approved rates
- Stamp Duty & Registration – As applicable
- Prepayment / Foreclosure Charges – As per RBI and bank guidelines
Exact charges may vary by branch and loan scheme. Customers are advised to confirm before application.