Corporation Bank Home Loan

Corporation Bank Home Loan is one of the best loan products offered by the Bank to a large number of low and moderate income homebuyers. The bank has assisted many first time home buyers in getting the home of their choice. Home loans from Corporation Bank can be availed for a number of purposes that include; Construction of new house/flat or purchase of already built house/flat. Repairing, renovating, improvement or extension of existing house/flat. To take-over housing loans financed by other banks or institutions. Corporation Bank Home Loan Rate of Interest Corporation Bank offers competitive interest rates with their home loan programs. However, the rate of interest will differ depending on the amount of loan and the repayment tenure. The following chart shows the home loan rate of interest that has been effective from 4th May, 2009.

CorpHome (Floating rate) Upto Rs. 30 lakh TENOR Floating Upto 5 years 8.75% Above 5 years & upto 15 years 9.50% Above 15 years & upto 20 years 9.75% Above 20 years & upto 25 years 10.25% CorpHome (Floating Rate) Above Rs.30 lakh & upto Rs. 50 Lakh Tenor Floating Upto 5 years 9.50% Above 5 years & upto 15 years 10.00% Above 15 years & upto 20 years 10.50% Above 20 years 10.75% CorpHome (Fixed Rate): Loan Amount Fixed rate Loan upto Rs. 30 lakh 11.00% Loan above Rs.30 lakh & Upto Rs. 50 Lakh 11.50% Loan above Rs. 50 Lakh 11.50% Corporation Bank Home Loan Eligibility Obtaining the home loan amount involves some eligibility conditions which the borrowers are required to fulfill in order to get the approval. First of all, applicants for home loan must be residents of India, NRIs or PIO holding Indian Passport that conforms to common borrower standards. It is essential for the borrowers to have independent or stable source of income. At the time of application, the borrowers must be of at least 18 years and not more than 60 years. Joint holders of the property should be included as co applicants for the loan term. The home loan amount is determined by the repaying ability of the borrowers and the area of their residence. For instance, a maximum loan amount of 500 lacs and 30 lacs for site purchase can be availed in Metro and Port Town Centres. For borrowers in urban areas, loan amount of 50 lacs and 15 lacs for site purchase is available. If the applicant resides in semi urban or rural centers, he can get a maximum of 25 lacs and 10 lacs for purchase of site where the house will be built. On the other hand, Corporation Bank offers home loan insurance that comes with the loan itself. The bank also offers home loan calculator through which borrowers can find the best available loan term that they can afford. For further information on loan margin, repayment period, security and EMI, visit the official website of the bank.

Corporation Bank Corporation Bank offers a range of home loan programs having affordable rates and repayment terms. Find the eligibility conditions of the loan terms. Website:http://www.corpbank.com/asp/0100text.asp?presentID=54

Corporation Bank

Corporation Bank is one of the oldest public sector banks of India. Started with initial capital of Rs. 5000, the bank is now set to exceed Rs. One Lakh Twenty Five Crore in business. The bank has more than 2086 service outlets spread across the country, which are served by over 12,000 plus Corp bankers. Corporation Bank operates with a strong support team of over 13,000 full time employees working from several branches of the bank. It is a public sector unit in which 57.17% of overall Share Capital is held by the Indian Government. As on 31st March 2005, the bank stood with a stunning net worth of Rs. 3,054.92 crores. Corporation Bank History Corporation Bank was established on 12th March, 1906 in Udupi, a temple town in Karnataka. It was formerly known as Canara Banking Corporation Limited and it started functioning with the joint efforts of few visionaries. The founder president of the bank was Khan Bahadur Haji who strongly felt the banking needs of the people. Corporation Bank opened its first branch in 1923 at Kundapur, followed by another branch at Mangalore in 1926.

During 1937, Corporation Bank gets included under the second schedule of Reserve Bank of India Act, 1934. In 1972, the bank changed its name from Canara Banking Corporation Ltd to Corporation Bank Limited. Following the nationalization of the bank in 1980, it was finally named as Corporation Bank. The overall business of the bank exceed Rs. 1,22,496 crore and the net profit rose to Rs. 892.77 crore as on 31st March 2009. Corporation Bank Products and Services Banking products and services offered by corporation bank are wide ranging. The bank has unique products and financial services for individuals, corporates and NRIs. The following are some of the reliable products and services made available by the bank. Personal Savings Bank Bccount Salary SB Account Students' SB Account Term Deposit Housing Loan Vehicle Loans Education Loan Personal Loan Loan Against Property Corp Cash Demat Corp IPO Scheme Reverse Mortgage Loan Recurring Deposit NRI Services Xpress Money: Global Money Transfer Service NRI Account Opening Form Help Desk - NRI and Forex Services Bank Account for Non Resident Indians Money Gram for Global Remittances NRI and Direct Taxes Internet Banking Login for Personal Banking Login for Cash Management Login for Corporate Banking Online Excise Duty Payment E-payment for Direct Taxes Cards Debit/ATM Card Credit Card CorpBank Prepaid Gift Cards Corp Travel Card Corporate Cash Management Corp Fast Corp Rental Working Capital Term Finance Forex Gold Card Scheme for Exporters Tenders Other Services Mutual Funds Pension Payments PPF Accounts and Senior Citizen Savings Scheme Online Trading Depository Services Online Railway Reservation Corp Mediclaim Corp Bill Pay Corp Anytime Premium Corporation Bank Recruitment Recruitment exams are conducted by Corporation Bank to fill up the job vacancies available with them. The bank brings several jobs and career opportunities for eligible job seekers in the country. It organizes PO recruitment, recruitments for clerks and many other job posts periodically. At present, Corporation Bank has recruitment for Probationary Officers to be held during May 2010. Interested candidates are required to make online registration for the exam by visiting the official bank website. Candidates who have appeared recruitment exams in 2009 can find their results online. Corporation Bank Net Banking Besides offering a huge range of products and services, Corporation Bank also provides convenient Internet Banking facilities to customers of the net banking branches. Registering for online banking will allow the customers to enjoy making online balance enquiry, fund transfer, account statement, online bill pay and making requests. On the other hand, finding the branches and ATMs of the bank is quite easy with the help of branch/ATM locator offered by the bank. Customers can find the branch locator to find the complete address, branch code, IFSC code, working hours and phone numbers of the bank branches. The bank further offers loan calculator and EMI calculator to assist borrowers while finding their suitable loan terms. Corporation Bank Customer Care Number To assist trouble customers, the bank provides customer care team that works to provide solutions for several grievances. Several helpline numbers and toll free numbers are offered by the bank where troubled customers can call to get essential help from the customer care representatives. The following are some important customer care numbers. For ATM/Debit Card related queries - 1800 425 2407 (Toll Free), 080 - 26600587 / 26602500 For Credit Card queries and complaints - 1800 22 6606 (Toll Free), 022 - 4042 6009 Corporation Bank Head Office Corporation Bank Corporate Office Mangaladevi Temple Road Pandeshwar MANGALORE - 575 001 Karnataka, India Tele: 91-824-2426416 to 420 Fax: 91-824-2440964

Corporation Bank Corporation Bank can fulfill almost any of your banking needs. Find what the bank has to offer. Website:http://www.corpbank.com/default.asp