Are Vijaya Bank Home Loan Interest Rates Suitable For Your Home Finance?

Buy a home, land (property) or renovate your house for a hassle-free living experience with Vijaya Bank home loans. The bank provides you excellent loan services and benefits of lower interest rates on your home loans. which comes at a floating rate of interest depending on the bank marginal cost fund-based lending rate (MCLR). You can also make your loan procedure easy with tools like Vijaya Bank Home Loan EMI Calculator, read the given article to know about Vijaya Bank home loan and its features.

Home loan at an attractive rate of interest from Vijaya Bank

Vijaya Bank Home Loan Interest Rates are starting from 8.40% to 9.40% and it’s lending capacity also increases after merging with Bank Of Baroda. The bank finances your house or property if your annual income is up to INR 10 lakh then your minimum take-home salary should be 30% of the total amount, after deducting the liabilities from it. You can opt for a flexible home loan interest rates for lower equated monthly loan installments (EMIs). But you’ll not get guaranteed lower rates, it can be higher or lower depending on the bank base lending rate which 8.35% for the current year. To manage your home loan installments you can use Vijaya Bank home loan EMI calculator.

Get instant EMIs from Vijaya Bank home loan EMI calculator

The loan EMI calculator is an online device that is offered by Vijaya Bank to the customers. You can use Vijaya Bank Home Loan EMI Calculator by going to the bank official website. On the right-hand side of the Vijaya Bank products & service page, you will find the option of “quick access” click on it and a dropdown will appear on your desktop screen. There you’ll see the “EMI calculator” option click on it, after that you will be directed to the EMI calculator, in which you have to enter your loan details in numerals because it works on the formula [P x R x (1+R)^N]/[(1+R)^N-1], where P is your home loan amount, R is the rate of interest and N is your loan tenure.

It immediately calculates the EMI of your loan amount with the help of which you can reduce the monthly installments. You can only use this benefit if you have taken a flexible Vijaya Bank home loan interest rates.

Vijaya Bank a trusted companion for your property purchase

You can take home loan from Vijaya Bank by going to your nearest bank branch or through online banking services. For your loan application procedure, you have to submit a processing fee to the bank which is 0.50% of the borrowed amount or can range from INR 1000 to 20,000 plus applicable goods and services tax (GST). You can also add a guarantor to your Vijaya Bank home loan but it can be your spouse only. The bank also provides security to your home loan by mortgaging your purchased house, land, under construction home, etc. so that at the time of non-payment of EMI the bank can sell the house or land. Vijaya Bank gives you a longer repayment duration up to 30 years with a repayment holiday of 36 months.