1. What is Bandhan Bank Housing Loan?

Bandhan Bank offers housing loans for purchasing, constructing, or renovating residential properties. Their interest rates are competitive, typically starting at 6.85% p.a. for eligible borrowers.

2. How Interest is Calculated

The calculator uses the standard EMI formula:

Where:

• \( P \) — Loan principal amount
• \( r \) — Monthly interest rate (annual rate divided by 12)
• \( n \) — Loan term in months

Note: Interest is calculated on a reducing balance basis, meaning interest is charged only on the outstanding principal amount.

3. Current Interest Rates

Details: As of current data, Bandhan Bank housing loan interest rates start at 6.85% p.a. for women borrowers and 6.90% p.a. for others, for loans up to 75% of property value.

4. Using the Calculator

Tips: Enter loan amount in ₹, annual interest rate in %, and loan term in years. The calculator will show your monthly EMI, total interest payable, and total repayment amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the maximum loan amount available?
A: Bandhan Bank offers up to ₹10 crore for housing loans, depending on eligibility and property value.

Q2: What is the maximum loan tenure?
A: The maximum tenure is 30 years or up to the age of 70 years, whichever is earlier.

Q3: Are there prepayment charges?
A: Bandhan Bank doesn't charge for prepayment of floating rate loans, but fixed rate loans may have prepayment charges.

Q4: What documents are required?
A: Standard documents include identity proof, address proof, income proof, property documents, and bank statements.

Q5: How can I get the best interest rate?
A: Maintain a good credit score (750+), choose a shorter tenure, and compare offers from multiple banks.