Corporation Bank offers home loans for eligible resident and non resident Indians. The applicants must be in the age group of 18-50 years with a regular source of income. Individuals belonging to salaried class must have completed 2 years in service in order to become eligible for Corporation Bank home loans.
If loan is sought against a property that is under joint ownership, all the names of owners must be included in the loan application as co-applicants. A close relative of the applicant may join as co-applicant if the income of the borrower is not sufficient for the approval of loan. Under the definition of close relative, the names of father, mother, brother, spouse, son and daughter are considered.
Corporation bank home loan is available for construction of houses, purchase of ready houses and repair of existing houses. |