A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Gruh Finance Limited Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.12% Floating
    1% One time fee
    2L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Gruh Finance Limited Home Loan is Rated as "Satisfactory" by 4 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Home Loan BYTES FROM OUR KITCHEN

    A subsidiary of HDFC Ltd., GRUH Finance Limited is a housing finance company (HFC) which offers loans to take of your home financing needs. The company offers housing loans for various purposes like construction, purchase, renovation, repair of residential units. This loan may also be availed by professionals who wish to purchase office premises. GRUH home loans may can be applied for by individuals who are self-employed and do not have any formal proof of income.

    GRUH Finance Limited offers multiple home loan products, each designed to address specific requirements. The loan products offered by GRUH finance include GRUH Suraksha, GRUH Suvidha, GRUH Sajavat and GRUH Samruddhi.


    You’re probably eligible for an Gruh Finance Limited Home Loan if you are

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    Gruh Finance Limited Home Loan Minimum Age

    At least 18 years old

     Gruh Finance Limited Home Loan Maximum Age

    Less than 65 years old

    Gruh Finance Limited Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Gruh Finance Limited Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Gruh Finance Limited Home Loan amount eligibility is based on these factors

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    Gruh Finance Limited Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Gruh Finance Limited Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    Gruh Finance Limited Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Gruh Finance Limited Home Loan amount by these steps

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    Gruh Finance Limited Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Gruh Finance Limited Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Gruh Finance Limited Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Gruh Finance Limited Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 months salary-slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Education qualification certificate & proof of business existence
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Gruh Finance Limited Home Loan Interest RatesUpdated on 01 Oct 2016

    Gruh Finance Limited Home Loan Details
    Interest Rate 11.12%
    Loan Tenure 1 year to 30 years
    Partial pre-payment Charges Nil
    Pre-closure Charges Nil
    Guarantor Requirement No Guarantor Required

    Features of Gruh Finance Limited Home Loan:

    Following are the features of specific home loans offered by GRUH Finance Limited.

    GRUH Suraksha:

    • Offered to professionals and salaried persons for purchase / construction of residential units, based on income proof of individual.
    • Loan is available for a maximum tenure of 25 years.
    • Loan amount available up to 75% / 80% / 85% of the property cost (includes the cost of land, construction, registration and other one-time acquisition costs).
    • Choose from amortization options like daily or annual amortization.
    • Multiple interest computation options like fixed, semi-fixed and variable.

    GRUH Suvidha:

    • Offered to self-employed individuals and professionals, based on surrogate income proof.
    • Maximum loan tenure offered is up to 15 years.
    • May be used for construction or purchase of residential units in cities, villages or towns.
    • Loan amount offered under this loan shall be up to a maximum limit of 75% / 80% / 85% of total property cost (includes cost of land, construction, registration and other acquisition costs).
    • This loan is available with various interest rate options with monthly amortization.

    GRUH Sajavat:

    • Offered to self-employed individuals and professionals, based on surrogate income proof.
    • Provided for the purpose of repair or renovation of existing residential units in cities, villages or towns.
    • Maximum loan tenure offered is up to 15 years.
    • Loan amount offered under this loan shall be up to a maximum limit of 75% / 80% / 85% of total property cost (includes cost of land, construction, registration and other acquisition costs).
    • This loan is available with various interest rate options with monthly amortization.

    GRUH Samruddhi:

    • Offered to professionals for purchase office premises for business purposes.
    • Maximum quantum of loan offered is up to 75% / 80% / 85% of overall property cost (includes cost of land, construction, registration and other acquisition costs).
    • This loan is available with variable interest rate options and monthly amortization.

    Other Features:

    Specialized Loan Products:

    You may choose from three different loan product which are as follows:

    • Flexible Installment Plan (FLIP) – Designed to meet the needs of multiple earning members of the family and available only on fixed rate loans.
    • Pension FLIP – This plan basically takes into consideration the combined income of the family members which includes salary income and pension. This product is only available with fixed rate loans.
    • Step Up Repayment Facility – Offered only on fixed rate loans, this plan amps up your EMI in anticipation of increase of the household income in the future.

    Multiple Amortization Options:

    Choose from multiple amortization options where the principal component of installments is adjusted on a varying basis.

    Multiple Interest Rate Options:

    Choose from fixed, semi-fixed or variable computation of interest as it suits your convenience and budget.

    Gruh Finance Limited Home loan Interest Rates:

    Each particular home loan offered by GRUH Finance Ltd. carries different rates of interest. The applicable interest rate for GRUH Suraksha is between 9.75% to 12.50%; for GRUH Suvidha is between 10% to 13.50%; for GRUH Sajavat, between 11.00% to 13.75% and for GRUH Samruddhi, the interest rate is set between 12.50% and 15.25%.

    FAQs:

    1. Are there processing charges levied on GRUH Housing Limited home loans?

      Yes, processing charges ranging from 0.5% to 1.25% are levied depending on the home loan scheme.

    2. Is there any security required for obtaining a home loan from GRUH Finance Limited?

      Yes, applicants would be required to submit documents like life insurance policies, postdated cheques, guarantee and/or any other form of security, as is mentioned in the loan sanction document.

    3. Is the rate of interest dependent on any factors?

      Yes, the rate of interest applicable on GRUH home loans is dependent on factors like the applicant’s credit score. The credit score shall be determined based on various factors like age, saving habits, stability of income etc.

    4. Is it necessary for the property, which is put as security, be insured?

      Yes, the property which has been provided as security against the loan must have been completely insured for the entire tenure of the loan.

    5. Are there loan conversion options available to customers?

      Yes, customers may switch from one interest rate plan to another. They may also switch their amortization frequency.

    News About Gruh Finance Limited Home Loan

    • The best time to cash in on Gruh Finance

      Ever since the landmark announcement of 50 percent reduction in the repo rate by RBI, housing loans offered by various banks have predictable become cheaper. But more than a dip in the home loan rates, which can only cause a surge in affordability to a certain extent, it is the central bank’s bid to bring down potential risk weights that have lighted spark of hope in current EMI payers. Companies like Gruh Finance are ideally placed to deflect rivalry from banks and other financiers.

      Gruh Finance, a branch of Housing Development Finance Corporation (HDFC), is one of the innovators in the rural housing finance sector, offering house loans to financially backward and those with lesser income in rural and semi-urban. This step of RBI will provide a boost to the central government’s emphasis on the reasonably priced real estate arena through its ‘Housing for all by 2022’ policy. The firm has already announced a yearly net growth of 29 percent in the last ten years and 20 percent in the previous quarter alone.

      12th October 2015

    Gruh Finance Limited Home Loan Reviews

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