Gruh Finance Limited is now a part of Bandhan Bank.Gruh Finance Limited offer home loans at affordable interest rates which starts at 8.75% p.a. The processing fee is in the range of 0.25% to 1% plus GST depending on the home loan scheme. The maximum tenure for repayment of the home loan is 30 years.
Gruh Finance Limited (GFL) offers different types of home loans at competitive interest rates. Here’s a quick glance at the important points of a GFL home loan:
|External Benchmark Rate||4.00%|
|Loan Amount||Minimum: NA, Maximum: Up to 90% of property cost|
|Processing Fees||Up to 2%|
|Penal Interest Rate||Extra 2% on applicable interest rate|
|Prepayment/Foreclosure Charges||NIL for individuals in floating-rate package NIL for fixed-rate on payment from own pocket 2% + GST in other cases|
|Max Tenure||30 Years|
|Rate Packages Available||Variable/Fixed|
If you are applying for a Gruh Finance housing loan, you might want to check up the various associated fees and charges. Knowing what you need to pay apart from interest rates helps you make the right decision about which home loan to take.
GFL has started a credit score-based interest rate model for its housing loans from 22 April 2019. The rate range under this model is as given below:
|Gruh Finance Home Loan Schemes||Applicable Interest Rate (p.a.)|
|Gruh Suraksha||8.50% to 13.25%|
|Gruh Suvidha||8.75% to 13.50%|
|Gruh Samruddhi||11.25% to 14%|
|Gruh Sajavat||9.75% to 12.25%|
|Mortgage - Housing||10.75% to 13.5%|
Compare: Home Loan Interest Rate all Banks
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 may choose from three different loan product which are as follows:
Choose from multiple amortization options where the principal component of installments is adjusted on a varying basis.
Choose from fixed, semi-fixed or variable computation of interest as it suits your convenience and budget.
Each particular home loan offered by GRUH Finance Ltd. carries different rates of interest. The applicable interest rates effective from May 20,2017 are given below.
|Home loan Scheme||Interest Rate|
|GRUH Suraksha||8.35% to 14.50%|
|GRUH Suvidha||8.85% to 15.30%|
|GRUH Sajavat||9.50% to 13.00%|
|GRUH Samruddhi||11.50% and 15.00%|
Yes, processing charges ranging from 0.5% to 1.25% are levied depending on the home loan scheme.
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.
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.
Yes, the property which has been provided as security against the loan must have been completely insured for the entire tenure of the loan.
Yes, customers may switch from one interest rate plan to another. They may also switch their amortization frequency.
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