What is the purpose of Home Loan and its Salient Features?
Home Loan can be availed for the following purposes:
Salient Features of Home Loan:
How can I apply for a Home Loan?
Applying for a Home Loan in Cosmos Bank is very easy. All you have to do is to meet Eligibility Criteria by entering minimum required information by clicking above mentioned “Apply for Home Loan Tab”. (Detailed procedure is shown in Demo Video / User Manual), Select appropriate scheme and get the Soft Approval Instantly. Submit the required documents to the preferred branch and fill in the Loan Application Forms.
Can I get an Instant Soft Approval for a Home Loan?
Yes, you can get an Instant Soft Approval for a Cosmos Bank Home Loan. Please note that, this facility is only available to the Applicants who meet all the Home Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.), Gross & Net Income details (Salary Details as per Salary Slips/ Business Income Details as per ITR), Property Details, Existing Loan & EMI Details, Loan Amount Required etc.
Which documents are required for availing a Home Loan?
KYC Documents, Min. 6 months Bank Statements, Income Documents, Property Documents as per Type of Property and Existing Loan Account Statements. Detailed check-list will be provided along with Instant Soft Approval Letter.
Do I need to have an Account with Cosmos Bank to avail Home Loan?
No. Existing as well as New Customers can avail Home Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open Operative Account with Cosmos Bank before availing Home Loan.
Whether Guarantors are required for Home Loan?
Yes, 1 / 2 Guarantors acceptable to the Bank are required for Home Loan. Guarantor Waiver can be considered in some of the Meritorious Cases after fulfilling some of the Bank Norms i.e. DSCR, Margin, Loan Cover Policy etc.
What will be EMI for my Home Loan?
To know your EMI, use the EMI Calculator by entering necessary information. You will also receive the eligibility details along with EMI Amount in the Instant Soft Approval Letter.
Which is the nearest Cosmos Bank Branch to my location?
For the Complete List of Cosmos Bank Branches, please go to “Locate Us” Tab.
What are my different options for making EMI payments?
We recommend that, you opt for either SI or e-NACH mode for EMI payment as both these options are faster and less prone to error than the use of PDCs.
How the Home Loan Eligibility is decided by the Bank?
Maximum Loan Eligibility will be Minimum of the Three i.e. Loan Eligible as per Income, Loan Eligible as per LTV Ratio on the basis of Property Cost and Loan Amount requested.
When does my Home Loan EMI gets start?
EMI’s get start in the subsequent month of Loan Disbursement and EMI Date is same as Loan Disbursement Date. For Under-Construction Properties, Maximum Moratorium Period allowed is 18 Months OR Construction Period whichever is Minimum. During Moratorium Period, only interest needs to be served and after Moratorium Period, EMI gets start.
What is the purpose of Education Loan and its Salient Features?
Education Loan can be availed by meritorious / deserving students for pursuing Higher Education in India / Abroad from reputed / recognized Educational Institute / University.
Salient Features of Education Loan:
How can I apply for Education Loan?
Applying for an Education Loan in Cosmos Bank is very easy. All you have to do is to meet Eligibility Criteria by entering minimum required information by clicking above mentioned “Apply for Education Loan Tab”. (Detailed procedure is shown in Demo Video / User Manual), Select appropriate Scheme and get the Instant Soft Approval. Submit the required documents to the preferred branch and fill in the Loan Application forms.
Can I get an Instant Soft Approval for Education Loan?
Yes, you can get an Instant Soft Approval for a Cosmos Bank Education Loan. Please note that, this facility is only available to the Applicants who meet all the Education Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.) of Student Applicant and Co-Applicants, Gross & Net Income details of Co-Applicants (Salary details as per Salary Slips/ Business Income Details as per ITR), Student Education and Course Details, Existing Loan & EMI details, Loan Amount Required etc.
Which documents are required for availing Education Loan?
KYC Documents of Student and co-Applicants, Min. 6 months Bank Statements, Income Documents of Co-Applicants, Student’s Education Certificates and new course Admission Documents, Property Documents if property is offered as a Security and Existing Loan Account Statements. Detailed check-list will be provided along with Instant Soft Approval Letter.
Do I need to have an Account with Cosmos Bank to avail Education Loan?
No. Existing as well as New Customers can avail Education Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open an Operative Savings Account with Cosmos Bank before availing Education Loan.
Whether Guarantors are required for Education Loan?
No, while parents will be taken as Co-Applicants.
What will be the EMI for my Education Loan?
EMI gets started after completion of Moratorium Period. To know your EMI, use the EMI Calculator by entering necessary information. You will also receive the Eligibility Details along with EMI Amount in the Instant Soft Approval Letter.
Which is nearest Cosmos Bank Branch to my location?
For the complete list of Cosmos Bank Branches, please go to “Locate Us” Tab.
What are my different options for making Interest Payment during Moratorium / EMI Payments after Moratorium?
We recommend that, you opt for either SI or e-NACH mode for Interest / EMI Payment as both these options are faster and less prone to error than the use of PDCs.
When does my Education Loan EMI will start?
EMI will be started after completion of Moratorium Period. During Moratorium Period, only Interest needs to be paid @ Simple Interest Rate Method or student can opt for Interest Capitalization Option.
What is a Moratorium Period / Repayment Holiday?
During Moratorium Period, only interest will be charged @ Simple Interest Rate. Student is having option to make interest payment during Moratorium or Capitalize the same and make payment after completion of Moratorium Period. Maximum Moratorium Period for Education Loan will be Course Period + 1 year or 6 months after getting job, whichever is earlier. Thus, Total Loan Period will be Moratorium Period + EMI Repayment Period.
Whether any security needs to offer for availing the Education loan?
No security required for Loan upto Rs.5.00 Lakh.
For Loan above Rs.5.00 Lakh, at least 100% Security equivalent to the Loan Amount is required.
What is the purpose of Consumer Durable Loan and it’s Salient Features?
Consumer Durable Loan is a secured loan and can be used for purchase of Consumer Durables, Residential Modular Movable Furniture etc.
Salient Features of Consumer Durable Loan:
How can I apply for a Consumer Durable Loan?
Applying for a Consumer Durable Loan in Cosmos Bank is very easy. All you have to do is to meet eligibility criteria by entering minimum required information by clicking above mentioned “Apply for Consumer Durable Loan” Tab. (Detailed procedure is shown in Demo Video / User Manual) and get the soft approval. Submit the required documents to the preferred branch and fill in the Loan Application Forms.
Can I get an Instant Soft Approval for a Consumer Durable Loan?
Yes, you can get an instant Soft Approval for a Cosmos Bank Consumer Durable Loan. Please note that, this facility is only available to the applicants who meet all the Consumer Durable Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.), Gross & Net Income details (Salary details as per Salary Slips/ Business Income Details as per ITR), Existing Loan & EMI Details, if any (As per sanction letter), Loan Amount Required etc.
Whether Guarantors are required for Consumer Durable Loan?
Yes, 1 Guarantor acceptable to the Bank is required for Consumer Durable Loan while same can be waived-off if you offer required security for the loan. If security to the extent of 50% of loan is offered then guarantor can be waived.
What will be EMI for my Consumer Durable Loan?
To know your EMI, use the EMI Calculator by entering necessary information.
Which is nearest Cosmos Bank branch to my location?
For the complete list of Cosmos Bank Branches, please go to Branch Locator.
What are my different options for making EMI payments?
We recommend that, you opt for either SI or e-NACH mode for EMI payment as both these options are faster and less prone to error than the use of PDCs.
Which documents are required for availing a Consumer Durable Loan?
KYC Documents, Min. 6 months Bank Statements, Income Documents and Existing Loan Account Statements. Detailed Check-list will be provided along with Instant Soft Approval Letter.
Do I need to have Account with Cosmos Bank to avail Consumer Durable Loan?
No. Existing as well as New Customers can avail Consumer Durable Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open Operative Account with Cosmos Bank before availing Consumer Durable Loan.
What is the purpose of Personal Loan and it’s Salient Features?
Personal Loan (Cosmo Credit) is an Unsecured Loan and can be used for many Legal / Non-Prohibited Purposes i.e. consumption or productive purposes such as Home Renovation, Wedding Ceremony of Family Members, Medical Emergencies, Travelling, Debt Repayment, Business Purpose etc. This loan can be easily availed with minimum documentation.
Salient Features of Personal Loan:
How can I apply for a Personal Loan?
Applying for a Personal Loan in Cosmos Bank is very easy. All you have to do is to meet eligibility criteria by entering minimum required information by clicking above mentioned “Apply for Personal Loan Tab”. (Detailed procedure is shown in Demo Video / User Manual) and get the Soft Approval Instantly. Submit the required documents to the preferred branch and fill in the Loan Application forms.
Can I get an instant Soft Approval for a Personal Loan?
Yes, you can get an instant Soft Approval for a Cosmos Bank Personal Loan. Please note that, this facility is only available to the applicants who meet all the Personal Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.), Gross & Net Income Details (Salary details as per salary slips/ Business income details as per ITR), Existing Loan & EMI details, Loan Amount Required etc.
Which Scheme under the Personal Loan will be appropriate for me?
Whether Guarantors are required for Personal Loan?
Yes, 2 Guarantors acceptable to the Bank are required for Personal Loan while same can be waived- off if you offer required security for the loan. If security to the extent of 50% of loan is offered then one Guarantor can be waived and if security to the extent of 100% of loan amount is offered then both Guarantors can be waived.
What will be the EMI for my Personal Loan?
To know your EMI, use the EMI Calculator by entering necessary information. You will also receive the eligibility details along with EMI amount in the instant Soft Approval Letter.
Which is nearest Cosmos Bank Branch to my location?
For the complete list of Cosmos Bank Branches, please go to “Locate Us” Tab.
What are my different options for making EMI payments?
We recommend that, you opt for either SI or e-NACH mode for EMI payment as both these options are faster and less prone to error than the use of PDCs.
Which documents are required for availing a Personal Loan?
KYC Documents, Min. 6 months Bank Statements, Income Documents and Existing Loan Account Statements. Detailed check-list will be provided along with Instant Soft Approval Letter.
Do I need to have an Account with Cosmos Bank to avail Personal Loan?
No. Existing as well as New Customers can avail Personal Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open an Operative Account with Cosmos Bank before availing Personal Loan.
What is the Combination of Term Loan & Overdraft that can be availed?
You can avail Loan Amount in the form of Term Loan (Repayment in Equated Monthly Instalments) and / or in the form of Overdraft (Interest will be charged on used Loan Amount only). While review within 24 months needs to be taken for Overdraft Loan. For Street Vendor Scheme and Women Applicant Swayamsiddha Scheme, only Term Loan option is available.
What is the purpose for availing Property Mortgage Loan and its Salient Features?
Property Mortgage loan can be availed for following Purposes:
Salient Features of Property Mortgage Loan:
How can I apply for a Property Mortgage Loan?
Applying for a Property Mortgage Loan in Cosmos Bank is very easy. All you have to do is to meet eligibility criteria by entering minimum required information by clicking above mentioned “Apply for Property Mortgage” Tab. (Detailed procedure is shown in Demo Video / User Manual) and get the Soft Approval Instantly. Submit the required documents to the preferred branch and fill in the Loan Application Forms.
Can I get an Instant Soft Approval for the Property Mortgage Loan?
Yes, you can get an Instant Soft Approval for a Cosmos Property Mortgage Loan. Please note that, this facility is only available to the Applicants who meets all the Property Mortgage Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.), Gross & Net Income Details (Salary details as per Salary Slips/ Business Income Details as per ITR), Property Details i.e. Address, Value, Age of the Property etc., Existing Loan & EMI Details, if any (As per Sanction Letter), Loan Amount Required etc.
Which documents are required for availing a Property Mortgage Loan?
KYC Documents, Min. 6 month’s Bank Statements, Income Documents, Property Documents as per Type of Property and Existing Loan Account Statements etc. Detailed check-list will be provided along with Instant Soft Approval Letter.
Whether Guarantors are required for availing Property Mortgage Loan?
Yes, 1 Guarantor with sufficient income acceptable to the Bank is required for Property Mortgage Loan.
What will be EMI for my Home Loan?
To know your EMI, use the EMI Calculator by entering necessary information. You will also receive the Eligibility Details along with EMI Amount in the Instant Soft Approval Letter.
Which is the nearest Cosmos Bank Branch to my location?
For the complete list of Cosmos Bank Branches, please go to “Locate Us” Tab.
What are my different options for making EMI payments?
We recommend that, you opt for either SI or e-NACH mode for EMI Payment as both these options are faster and less prone to error than the use of PDCs.
Do I need to have Account with Cosmos Bank to avail Property Mortgage Loan?
No. Existing as well as New Customers can avail Property Mortgage Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open Operative Savings / Current Account with Cosmos Bank before availing Property Mortgage Loan.
When does my Property Mortgage Loan EMIs start?
EMI’s gets start in subsequent month of loan disbursement and EMI date is same as loan disbursement date.
Can I get Property Mortgage Loan in the form of Overdraft?
Yes, while Overdraft can be given maximum to the extent of 50% of total eligible Loan Amount. Overdraft limit needs to renew every 15 months by submitting latest Income Papers. You need to serve interest only for Overdraft Amount. While we recommend that, you opt for Term Loan being repayment of principle also made in Term Loan and thus, Loan Amount gets reduced gradually.
What is the purpose of Vehicle Loan and it’s Salient Features?
Vehicle Loan can be availed for purchase of New Two-wheeler, New Car, Resale Car or Commercial Vehicle.
Salient Features of Vehicle Loan:
How can I apply for a Vehicle Loan?
Applying for a Vehicle Loan in Cosmos Bank is very easy. All you have to do is to meet eligibility criteria by entering minimum required information by clicking above mentioned “Apply for Vehicle Loan Tab” (Detailed procedure is shown in Demo Video / User Manual), select the appropriate scheme and get the Soft Approval Instantly. Submit the required documents to the preferred branch and fill-in the Loan Application Forms.
Can I get an Instant Soft Approval for a Vehicle Loan?
Yes, you can get an Instant Soft Approval for a Cosmos Bank Vehicle Loan. Please note that, this facility is only available to the Applicants who meet all the Vehicle Loan Eligibility Criteria.
Which information needs to be entered so as to get an Instant Soft Approval?
KYC details (PAN & Aadhaar No.), Gross & Net Income details (Salary details as per Salary Slips/ Business Income Details as per ITR), Vehicle Details, Existing Loan & EMI Details, Loan Amount Required etc.
Which documents are required for availing a Vehicle Loan?
KYC Documents, Min. 6 months Bank Statements, Income Documents, Latest Vehicle Quotation and Existing Loan Account Statements. Detailed check-list will be provided along with Instant Soft Approval Letter.
Do I need to have an Account with Cosmos Bank to avail Vehicle Loan?
No. Existing as well as New Customers can avail Vehicle Loan from Cosmos Bank. While New to Bank (NTB) Customers need to open Operative Account with Cosmos Bank before availing Vehicle Loan.
Whether Guarantors are required for Vehicle Loan?
Yes - In case of Car Loan / Two-Wheeler Loan, 2 Guarantors acceptable to the Bank are required while one or both Guarantors can be waived-off in some Meritorious Cases and after fulfilling certain parameters i.e. Existing Customer with satisfactory Account Operations, DSCR, Margin etc.
Yes – Preferably 2 Guarantors are required for Resale Car Loan / Commercial Vehicle Loan and in some Meritorious Cases, 1 Guarantor can be accepted.
What will be the EMI for my Vehicle Loan?
To know your EMI, use the EMI Calculator by entering necessary information. You will also receive the eligibility details along with EMI amount in the Instant Soft Approval Letter.
Which is nearest Cosmos Bank Branch to my location?
For the complete list of Cosmos Bank Branches, please go to “Locate Us” Tab.
What are my different options for making EMI payments?
We recommend that, you opt for either SI or e-NACH mode for EMI payment as both these options are faster and less prone to error than the use of PDCs.
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