Corporation Bank Flexi Home Loan

Hi buddy I have come to get info about Corporation Bank Flexi Home Loan, so can you tell me about the same like loan amount and terms and condition ??

[Shaleen]

As you asking I am telling Corporation Bank has introduced ‘Corp Flexi Home Loan’ a variant of the housing loan with attractive feature of Progressive Monthly Installment ie. Repayment linked to increase in future salary earnings.

Loan amount depend on area
Area Loan Amount Loan for Site Purchase
Metro & Port Town Centres Rs. 500 Lakh Rs. 30 Lakh
Urban Centres Rs. 50 Lakh Rs. 15 Lakh
Semi-Urban & Rural centres Rs. 25 Lakh Rs. 10 lakh


Eligibility for applying for Corp Flexi Home Loan
Salaried persons, confirmed in the service with the left over service longer than or equal to the proposed repayment period, desiring to go in for own dwelling unit are eligible for applying for housing loans under the Scheme.


Corporation Bank Flexi scheme is offered with two options.

Option 1
Loan amount will be 130% of the normal entitlement.
First 5 years, EMI is based on present repayment capacity for normal loan entitlement (100%)

Next 5 years, EMI will be normal for full loan (130%)

Balance period, EMI will be for balance repayment period on the balance outstanding at the end of 10th year.


Option 2
Loan amount based on present repayment capacity.

First 5 years, EMI at 70% of normal EMI

Next 5 years, normal EMI.

Balance period, EMI will be for balance repayment period on the balance outstanding at the end of 10th year.


Other conditions

No relaxation permitted from the prescribed margin.

Certificate from employer regarding salary structure for the next 5 years compulsory.