• Home Loan for SRA Flat in Bandra

Home Loan for SRA Flat in Bandra

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Bandra is a railway station on the Western Line and Harbour Line of the Mumbai Suburban Railway network. It serves the Bandra suburban area and the commercial area of Bandra-Kurla Complex (BKC). Bandra Terminus is near to Bandra railway station and serves interstate traffic on the Western Railway.

The area was under the rule of the Silhara dynasty in the 12th century. Bandra was a tiny fishing village inhabited by Kolis (fishermen) and farmers. . It was acquired by the British East India Company while the rest of Mumbai belonged to the Portuguese

 bandra is the third-largest commercial hub in Maharashtra, after Mumbai and Pune, primarily aided by the Bandra-Kurla Complex. 

SRA Home Loan Property Papers:

Allotment Letter

Agreement of Sale (any one):

Occupancy Certificate ( OC ) in case the property is a ready-to-move-in property

Copy (blueprint) of the Approved Plan and Registered Development agreement of the builder

Tax Receipt

Society Share Certificate

SRA Home Loan Fees and Charges

Depending on the type of loan you are applying for, the following charges may be levied:

Processing fees: This is a one-time non-refundable fee that is to be paid to the home loan provider after the loan application has been approved. The processing charge varies depending on the bank and the loan scheme you are applying for.

Prepayment charges: Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your home loan before the completion of the loan tenure.

Conversion fees: Some banks also charge a conversion fee when you decide to switch to a different loan scheme in order to lower the interest rate associated with your current scheme.

Cheque dishonour charges: The fee is levied when the loan provider find that a cheque issued by the borrower is found to be dishonoured due to reasons such as insufficient funds in the borrower’s account.

Fees on account of external opinion: In some cases, you might want to consult an external expert such as a lawyer or a valuator for his/her opinion on the loan. This fee should be paid directly to the concerned person and not the lending institution.

Home insurance: The premium should be paid directly to the concerned company during the term to ensure that the insurance policy is running during the home loan tenure.

Default charges: Loan providers also charge a penalty on delayed repayments i.e. if you fail to make your Equated Monthly Instalments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.

Incidental charges: This charge covers for the expenses incurred by the bank to recover dues from a borrower who has failed to make his monthly instalments on time.

Statutory/regulatory charges: The fee includes all charges associated with Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), Memorandum of Entry and Deposit, and stamp duty. You can visit www.cersai.org.in to know more about these charges.

Photocopy of documents: The fee is payable to the bank if you require a photocopy of your home loan documents for any personal needs.

Change in loan term: Some banks also charge a nominal fee if you wish to change the tenure associated with your loan.

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SRA Home Loan Interest Rates

Bank Name

Interest Rate

Processing Fee

Loan Amount



9.05% - 9.30%(Floating Rate)

Up to 0.50% (min.₹ 10,000 + GST)

₹ 8L Min

1-30 Years

Kotak Mahindra

8.95% - 9.15%(Floating Rate)

₹ 10000+GST

₹ 5L -₹ 10Crs

1-20 Years


8.60% - 8.95%(Floating Rate)

Up to 0.5% (max.₹ 11,800)

₹ 5L -₹ 10Crs

t1-30 Years

Axis Bank

8.80% - 11.75%(Fixed /Floating Rates)

0.50% (min.₹ 10,000)

₹ 5L -₹ 10Crs

1-30 Years

9.25%(Floating Rates)


8.80% - 12%(Floating Rates)

Loan amount up to Rs.30 lakh - 

₹ 2L -₹ 3Crs

1-30 Years

Up to Rs.10,000


8.55% – 9.25%(Floating Rate)

0.35% (min. Rs.2,000; max. Rs.10,000)

₹ 5L -₹ 10Crs

1-30 Years

Aditya Birla

9% – 12.50%(Floating Rate)

₹ 5,000 to₹ 10,000 + applicable tax

₹ 20L -₹ 10Crs

1-30 Years


SRA Home Loan Eligibility

Eligibility Criteria



Minimum Age: 18 years and Maximum Age: 70 years

Resident Type

The applicant must be (any one):

Resident Indian

Non-Resident India (NRI)

Person of Indian Origin (PIO)


The applicant can be (any one):



Net Annual Income

At least Rs.5-6 lakh depending on the type of employment


The applicant must have (any one):

A permanent residence

A rented residence where he/she has resided for at least a year prior to applying for a loan

Credit score

A good credit score of at least 750 or more obtained from a recognised credit bureau

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Home Loan for SRA Flat in Bandra

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