SVC Cooperative Bank Home Loan Eligibility Criteria
Understanding housing loan eligibility is essential before applying. The bank evaluates applicants based on income stability, repayment capacity, and standard eligibility criteria for home loans in India.
| Eligibility Parameter |
Details |
| Minimum Age |
21 years |
| Maximum Age at Loan Maturity |
Up to 70 years |
| Employment Type |
Salaried, self-employed, professionals |
| Minimum Income |
As per bank norms and city category |
| Credit Score |
Preferably 700 or above |
| Loan Tenure |
Up to 25–30 years |
| Co-applicant |
Allowed (spouse or close family member) |
Eligibility is assessed to ensure that EMIs remain affordable across the chosen loan tenure without overburdening the borrower.
SVC Cooperative Bank Home Loan Schemes
Borrowers can compare small finance bank home loan options and cooperative bank offerings to choose a suitable plan. SVC Bank typically provides:
Home Purchase Loan: For new or resale residential properties
Home Construction Loan: For building your dream home on owned land
Plot Purchase with Construction Loan: Combined financing for land and construction
Home Extension or Renovation Loan: For expanding or improving existing property
Balance Transfer Facility: Transfer your existing home loan from other lenders
Affordable Home Loans: Specially designed for salaried individuals and professionals
Each scheme is structured with flexible loan tenure, manageable EMI, and clear repayment of the principal amount, with options for fixed or floating interest type.
Documents Required for SVC Cooperative Bank Home Loan
Proper home loan documentation helps ensure faster processing. Below is a standard list of documents required for home loan application in 2026:
| Document Category |
Required Documents |
|
Identity Proof
|
Aadhaar Card, PAN Card
|
|
Address Proof
|
Passport, Voter ID, utility bills
|
|
Income Proof (Salaried)
|
Salary slips, Form 16, bank statements
|
|
Income Proof (Self-Employed)
|
ITRs, balance sheet, profit & loss account
|
|
Property Documents
|
Sale agreement, title deed, allotment letter
|
|
Photographs
|
Recent passport-size photographs
|
Tax Benefits on SVC Cooperative Bank Home Loan
Borrowers can avail standard tax benefits on housing loan under Section 80C and related provisions:
Section 80C: Deduction up to ₹1.5 lakh on principal repayment
Section 24(b): Deduction up to ₹2 lakh on interest paid
Additional Deductions: For eligible first-time homebuyers, subject to prevailing rules
Joint Borrowers: Separate tax benefits available for joint borrowers
These benefits reduce the effective cost of borrowing over the loan tenure.
Processing Fees & Other Charges
As per home loan processing charges in India, SVC Cooperative Bank follows a transparent fee structure. Charges may include:
- Processing fee (either a percentage of the loan amount or a fixed fee)
- Legal and technical verification costs
- Documentation expenses
- Additional charges such as EMI bounce fees, late payment penalties, or foreclosure charges may apply depending on the loan terms and interest type (fixed/floating)
Applicants are advised to review the sanction letter carefully for a complete cost breakdown.