Here you can access the latest Corporation Bank EMI Calculator on this page. The corporation bank loan EMI calculator helps you in deciding the amount of loan you should avail for. So, to make use of the Corporation bank calculator for loan EMIs, keep reading the page. We have also provided the new Corporation Bank EMI interest rates on personal loans, home loans, and car loans. The corporation bank provides the simple and easy-to-use Corporation Bank Personal loan EMI calculator, Corporation Bank housing loan calculator, Corporation bank car loan calculator. So, have a look at all the sections on this page to make a smarter decision in borrowing a loan.
Corporation Bank EMI Calculator
The Corporation bank is one of the public sector banks in the country. Its headquarters are located at Mangalore, India. The bank has a network of 2,440 branches with fully automated CBS. Over 3,040 ATMs and 4,724 branchless banking units cover all the areas of India. It also has the pan-India presence and the representative offices at Dubai and Hongkong. Corporation bank provides various financial services and products to its customers with attractive offers. One of those offers of Corp bank is the Equated Monthly Instalment facility on the personal home, and car loans. Below is the detailed explanation of the Corporation bank loan schemes.
The Corporation bank EMI calculator helps you know the EMI monthly payment to repay the loans on personal or home or car. You just need to know the details of Corporation bank Loan interest rates, tenures of the loans, etc. Then entering the details is the only thing you should do. We have provided the updated Corporation bank Interest rates on personal loans, home loans, and car loans in the below sections. So, have a look at the below link to know more about Corporation Bank EMI calculator.
Corporation Bank Personal Loan EMI Calculator
To meet your financial demands of an individual, the Corporation Bank Personal Loan scheme is here. From the expenses on medical to marriage purposes. One can avail the personal loan from Corporation bank to meet the authentic personal expenses. The bank offers attractive interest rates, flexible repayment options, transparent disbursement processes on personal loans. So, the Corporation bank personal loan schemes aid you in every step of your life. Keep reading the post to get some more information on the Corporation Bank personal loan details.
The bank also provides you with the personal loan calculator to make you aware of the monthly instalment payment. Moreover, using this Corporation bank EMI calculator for personal loans is an easy task too. You need to enter the details in the Corporation bank Personal loan interest rate calculator. Below is the procedure of using Personal loan calculator of Corporation bank.
How to Use Corporation Bank Personal Loan Calculator?
- Click on the below link to Corporation bank personal loan Eligibility calculator.
- The Personal loan EMI calculator of Corporation bank appears on your screen.
- Then enter the details of Corporation bank interest rates on personal loans, loan amount, and loan tenure.
- Check whether the details are correct or not and then click on “calculate.”
- Just within a few seconds, the Corporation Bank interest calculator for personal loans displays the EMI amount.
Hence, to make use of the Corporation Bank EMI calculator for Personal loans, click the below link.
Corporation Bank Personal Loan Interest Rates 2017
|Interest Rates on Corp Bank Personal Loan|
|Rate of interest||12.75% to 13.75%|
|Processing Fees||1.50% of the loan amount subject to a minimum of Rs.500/-|
|Loan Tenure||5 Years|
|Guarantor Requirement||Guarantor required|
Corporation Bank Home Loan EMI Calculator
Owning a home or a land is a dream come true for many of the people. When the prices of real estate are rising towards the north, a wise move to make is to choose Corporation Home Loan. A home loan in Corp bank offers funds for various housing needs where an individual require a large amount of money. After availing a loan, you can repay the loan on Equated Monthly Instalment Basis in the chosen loan tenure. So, to know this EMI amount, you can use our Corporation Bank EMI calculator for Housing loans.
The usage of Corp Bank EMI calculator is easy and user-friendly too. Here, on this page, we have provided the steps to use Home loan EMI calculator of Corporation Bank. So, have a look at the below sections to make use of the Corporation bank housing loan calculator.
How to Use Corporation Bank Home Loan Calculator?
- Click on the below link to Corporation Bank EMI calculator for home loans.
- The Corp Bank Home loan EMI calculator opens on your screen.
- Fill in the Corporation Bank home loan details like Corporation Bank house loan interest rates, loan amount, and tenure.
- Check for any mistakes in the entrances and then click on “calculate.”
- The Corporation Bank housing loan EMI calculator displays the EMI amount within a few seconds.
So, to make use of the Corporation Bank EMI calculator for House loans, click the below link.
Corporation Bank Home Loan Interest Rates
|Home Loan Rate of interest in Corporation Bank|
|Interest Rate||8.85% – 9.10%|
|Tenure of Loan||30 years|
The Corporation Bank offers the following interest rates on various home loan schemes. They include,
- An interest of 10.00% (MCLR + 0.5%) on Corp Ghar Shobha for repairs and renovation.
- Corp Ghar Sansar for top-up on existing loan has an interest or 10.00% (MCLR + 0.5%).
- The bank offers an interest of 9.60% (MCLR + 0.1%) on Corp Surya Rashmi scheme for solar PV sets.
These interest rates on Corporation Bank housing loans are subjected to periodic revision. So, ensure that you check for the latest rates of these schemes in a branch of Corporation Bank.
Corporation Bank Home Loan Documents Required
An individual who is applying for a house loan in Corporation bank needs to carry some documents. Below are the documents necessary for applying for a home loan in Corp bank.
- Corporation Bank home loan application form with signature.
- Latest bank statement.
- A cheque for the processing fee.
- Identity and address proof.
- Salaried applicants should submit the Income Tax Returns, CA certified or Audited Balance Sheet of the past three years.
- Self-employed applicants should submit the latest Income Tax Returns, computation of income certificates.
Features of Corp Bank Home Loan Scheme
The housing loan offered by Corporation bank has various features that attract a wide range of customers. They are the following.
High Loan Quantum
You can get the maximum funding in the form of Corporation Bank home loan. The bank determines the loan amount depending on the location of your property.
Loans for Areas
- The maximum loan amount offered is Rs.5 crores for metro centres.
- Rs.1crore is the upper limit for the sites present in port town and urban centres.
- The bank offers a maximum amount of Rs.50 lakhs for housing loans and Rs.25 lakhs for site loans.
- Rs.25 lakhs for housing loans and Rs.10 lakhs for site loans in Rural centres.
Security or Collateral
The first level of security is in the form of mortgage of the property is pledged to the bank till you repay the loan completely. If a third party guarantee is not available, then the applicant’s spouse should sign as the co-applicant. Also, if the primary applicant is a single person or unmarried, immediate relatives like parents, siblings can sign as a site guarantor.
Most of the people think twice before availing a loan because of the margins. This is a share in the project cost as the banks for not fund complete 100% amount. Margins of Corp Bank are minimal. The banks charge a margin of 10% for a loan amount of below Rs.30 lakhs. For an amount of Rs.30 lakhs to Rs.75 lakhs, the margin is 20 %. Whereas for the amount above Rs.75 lakhs, the margin is 25%.
Prepayment Charges – Nil
Corporation Bank does not charge the penalty for any early repayment of the loan. You can pay off the loan without incurring the penalty at any time during the loan term. So, Corp Bank is another area where you can save your money more than other banks.
Corporation Bank offers 30 years of repayment period with applicable interest rates in EMIs. You can choose the term as per your convenience. The term chosen should not be more than the retirement age of salaried borrowers and 70 years for other applicants.
The bank remits the loan directly to the builder or seller. This remittance also includes margins. If the loan is for construction purpose, the bank releases the loan in various phases of construction according to the need.
Corporation Bank Home Loan Eligibility Criteria
- The applicants between the age group of 18 to 65 years and moreover, with a source of income are eligible for Corp Bank House loan application.
- NRIs, Non-Resident Indians and PIO, Person of Indian Origin are also eligible for housing loan application in Corporation bank.
- The primary applicant should have a spouse or an immediate relative for signing as a co-applicant. This adds weightage to the repaying capacity of the primary applicant.
- If the property belongs to a joint relationship members, then all the co-owners should sign as the co-applicants.
Corporation Bank Car Loan EMI Calculator
Everyone desires to own a car. However, with some financial situations or any budget problems, we may delay it. So, the Corporation bank aids you in possessing a car. It offers many attractive offers on Car loans or four wheelers loans. You can plan your budget according to the income and expenditure, loan, etc. To help you in this matter, the Corporation Bank EMI calculator for car loans is here. It helps you in estimating the financial situation and adjustments. Using the corporation bank car loan interest rate calculator is an easy process.
You need to enter just the basic details of Corporation Bank car loans, and within few second, you can get your EMI amount. We have provided the simple steps to use Corp bank EMI calculator for car loans in the below sections. So, have a look at the process.
How to Use Corporation Bank Car Loan Calculator?
- Click on the link below to use the Corporation Bank EMI calculator for loans on four wheelers.
- The Corporation Bank calculator for car loan EMI appears on your screen.
- Enter the details of Corporation Bank car loan rate of interest, loan amount, and loan tenure.
- Check for any mistakes in the details you have entered and then click on “calculate.”
- Then within a few seconds, the Corporation Bank car loan EMI calculator displays the Equated Monthly Instalment amount on your screen.
So, to make use of the Corporation Bank EMI calculator for car loans, click the below link.
Corporation Bank Car Loan Interest Rates
|Car Loan Details of Corporation Bank|
|Corp Bank Rate of Interest||Loan amounts up to Rs. 50 lakhs – 10.20% Loan Amount above Rs. 50 lakhs – 10.70%|
|Maximum Loan Funding||Rs. 1 Crore|
|Minimum & Maximum Loan Tenure||12 months to 84 months|
|Processing Fees/Charge||As per the bank’s rules|
|Foreclosure/ Pre-payment Charges||zero|
|EMI per Lakh (for 7-year loan tenure)||Rs. 1,656|
Eligibility for Corporation Bank Car Loan Scheme
At the time of car loan verification and processing, the nationalised banks make a deep workout. Corporation bank has its mechanism of car loan processing. The documentation and paperwork may be elongated, but if you satisfy all the eligibility criteria, then the bank will offer the car loan at the earliest.
- The minimum age for entrance is 21 years to 70 years.
- An individual should have a minimum annual income of Rs.1,20,000.
- The applicant should prove the financial liabilities like existing loans, credit card dues at the time of application.
- You should declare all the income and debt forms at the time of application.
- A good credit score will give you better chances of qualifying to avail a car loan from Corporation bank.
- Individuals, Partnership firms, agriculturists, trusts, societies, proprietors, directors/employees of corporates are also eligible for Corporation Bank car loan application.
Corporation Bank Car Loan Documents
One should carry some essential documents while applying for a car loan in Corporation bank. Below is the list of documents required for a car loan in Corporation bank.
- Corporation bank Car Loan application form with signature.
- Identity and residence proofs.
- Age proof.
- Bank statement for the past 6 months.
- If the applicant is a salaried individual, he/she should submit salary slips for the past 3 months and Form 16 or ITR.
- Income Tax returns, CA certified or audited balance sheet and profit & loss account of the past 3 months. These are necessary for a self-employed applicant.
Features of Corporation Bank Car Loan
The car loan with Corporation bank has many features. Below are the characteristics of Corp bank car loan scheme.
Lower Income Qualification
Corp Bank allows car loan applications from salaried and self-employed individuals. The business concerns like partnership firms, companies, HUFs, institutions, trusts can also apply for the car loan. The minimum annual income necessary for availing a Corpbank car loan is rs.1,20,000 per year.
The bank allows the car loan applications with a co-applicant to aid in the loan repayment. This helps in considering the eligibility in Corporation Bank car Loan application and loan repayment capacity of both the primary and co-applicant.
If the primary applicant’s income is too low to pay the loan, then you can take an advantage of joining a co-applicant. This gives back more leverage for the loan approval.
Higher Upper Limit on Loan Amount
The Corporation bank funds a loan up to Rs.1 crore of the car price, registration charges, insurance, road taxes. Additionally, it also includes the car accessories in the car loan scheme.
Lower Rate of Interest
The Corp bank Car loan interest rate is the lowest of all those in the market. The percentage of interest is linked to the base rate which will be fluctuation from time to time. However, the actual interest rate is 10.25(base rate) + 0.40 for cars under 50 lakhs. Whereas for cars costing above 50 lakhs get the above interest plus 0.90%.
Loan Repayment Period
You get an ample of time to repay the Corp bank car loan. The tenure can be up to 84 months for new and already used cars. If you plan for a long repayment period, then this is the best car loan scheme that helps.
No Pre-closure charges
The bank charges no amount on pre-closure of the loan. You can pay the outstanding balance anytime and can close the car loan account. So, when you are with surplus money, you can pay off the loan to save the interest money.