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    Aditya Birla Housing Finance Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% Floating
    5,000 to ₹10,000 + S.T. One time fee
    20L - 10Crs
    1-30 Years
    Response Time Within 30 minutes

    Aditya Birla Housing Finance Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Overview of Home Loans from Aditya Birla Housing Finance:

    Aditya Birla Housing Finance Limited (ABHFL) is a housing finance company which is registered company under the National Housing Bank, conforming to the National Housing Bank Act, 1987. It offers a wide portfolio of home loan solutions to its customers as per their requirements. The products provided include home improvement loans, home loans, balance transfer and top-up loans, construction finance and loans against property. The home finance schemes offered by Aditya Birla Housing Finance enables the borrowers to fulfill their wish for a home of their own in a convenient and hassle-free manner.


     

    You’re probably eligible for an Aditya Birla Housing Finance Home Loan if you are

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    Aditya Birla Housing Finance Home Loan Minimum Age

    At least 23 years old

    Aditya Birla Housing Finance Home Loan Maximum Age

    Less than 60 years old

    Aditya Birla Housing Finance Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Aditya Birla Housing Finance Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your Aditya Birla Housing Finance Home Loan amount eligibility is based on these factors

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    Aditya Birla Housing Finance Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Aditya Birla Housing Finance Home Loan Maximum Loan to property value

    Loan capped @75% of property value

    Aditya Birla Housing Finance Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Aditya Birla Housing Finance Home Loan amount by these steps

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    Aditya Birla Housing Finance Home Loan Add Spouse as Co-applicant

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

    Aditya Birla Housing Finance Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Aditya Birla Housing Finance Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Aditya Birla Housing Finance Home Loan

    • 1. Signed application form with photograph
    • 2. Latest bank statements
    • 3. Processing fee Cheque
    • 4. ID and residence proof
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    Aditya Birla Housing Finance Home Loan Interest RatesUpdated on 07 Dec 2016

    Aditya Birla Housing Finance Home Loan Details
    Interest Rate 9.15% Onwards
    Loan Tenure 1 year to 30 years
    Processing Fees Rs.5,000 to Rs.10,000 + Service tax
    Part-Prepayment Charges Nil
    Pre- Closure Charges Nil
    Guarantor Requirement No Guarantor Required

     

    Home Loan Products offered by Aditya Birla Housing Finance:

    • Home Loans: Aditya Birla Housing Finance Limited offers its customers affordable home loan schemes that would meet their financial requirements in owning their dream home. The loan is flexible and can be customized to meet your personal needs.
    • Home Extension Loan: Want to add an extra room or increase the space in your living room, but worried about your budget? Look no further. ABHFL offers Home extension loans to finance your plans for extending your existing residential property.
    • Home Improvement Loan: With changing times you also need to change your home aesthetics and now, this process can be made simpler by availing the home improvement loan from ABHFL. You can make all necessary improvements/renovations to your existing home with ease by taking the home improvement loan.
    • Plot and Home Construction Loan: This loan is intended for those who wish to buy a plot of land and build a house on it within an allotted period of time, for their personal use. This loan can be disbursed in multiple installments.
    • Home Construction Loan: A home construction loan can be availed by those who already own a plot of land, and wish to have the finances to construct a residential structure on it. The loan amount is disbursed either to the borrower or directly to the engineer/architect.

    Features of Aditya Birla Finance Home Loans:

    • Competitive rate of interest
    • Maximum loan term of 20 years
    • Fast & easy loan application processing
    • Flexibility in repayment. Borrowers can choose either structured repayments or simple EMIs.
    • There are no prepayment charges levied on floating rate home loans
    • Balance transfer facility is available
    • End-to-end door step services is provided to customers from the nearest branch.

    Aditya Birla Housing Finance Eligibility:

    • The applicant should be at least 21 years of age in order to apply for a home loan from Aditya Birla Housing Finance Ltd.
    • The applicant should not be more than 60 years of age at the time of maturity of the loan.
    • In Delhi and Mumbai the minimum amount of loan that can be availed is 25 lakhs and for other locations the minimum loan amount is 15 lakhs.

    Loan Quantum:

    • Get up to 90% of the property value as loan for loans up to 20 lakhs
    • For loans between 20 lakhs and 75 lakhs get a maximum loan amount of up to 80% of property value.
    • For home loans above 75 Lakhs get a maximum loan amount of 75% of the property value.

    Aditya Birla Housing Finance Home Loan Interest rates:

    The rate of interest offered for Aditya Birla Housing Finance Home Loan currently as on 3rd May 2016 stands at 9.6%. The kind of interest rate offered on the loan is a floating rate of interest and tends to fluctuate with time. For a loan of Rs.10, 00,000, a floating rate of interest of 9.6% and for a loan of 10 crore, a higher rate of interest will be charged.

    Aditya Birla Home Loan Rates and Charges:

    Processing Fee Up-to 1% of the loan amount
    Default Penal Interest Rate / Non Conformance 24% p.a. i.e. 2% per month
    ECS failure charges Rs. 750
    Pre-closure charges Rs. 1,000/-
    Repayment Schedule / Duplicate Statement Rs. 200/-
    Charge For Exchanging ECS mandate Rs. 750
    ECS failure charges Rs. 50/- for Individuals and Rs.500/- for Commercial CIBIL (per instance)

    Aditya Birla Home Loan EMI:

    If you intend to take a home loan, you should have a clear idea of the exact cost of the debt that you will have to shoulder so that you can be prepared to efficiently plan your budget and manage finances. An online home loan EMI calculator projects an accurate analysis of the affordability of your home loan scheme. It is extremely simple to use a home loan EMI calculator - you can access it anywhere, anytime. You just need to provide information such as the loan amount, rate of interest, loan term, etc. Once you have entered the necessary inputs, click on the “calculate” tab, and this will lead you to the page that displays a detailed description of the amortization details, including the monthly EMI. This online calculator can be used several times to calculate your home loan EMI details by simply altering the inputs until you get the desired outcome. The home loan EMI calculator available on BankBazaar.com provides an accurate and elucidated report on your amortization schedule based on which you can make a well-informed decision.

    FAQs:

    1. What are the Loan Reschedulement charges?

      Loan Reschedulement charges are applicable on the sole discretion on ABHF. Currently the charge levied is 0.50% of the outstanding loan + Service Tax.

    2. Is prepayment of home loan allowed?

      There are no prepayment charges levied on floating rate home loans. Pre-closure of your home loan is possible only after 12 months from the date of loan disbursement for long-term loans. Part prepayments made 12 months before the end of the loan term will be levied pre-closure charges.

    3. What are the documents I can provide as proof of identity/address?

      You can provide the following documents as proof of identity/address:

      • Voter's ID card, Passport or Driving License
      • Job Card issued by NREGA
      • Adhaar Card
      • PAN card (as identity proof only)
    4. Is it necessary to provide bank statement for documentation purposes?

      Yes. You have to provide the last 6 months’ bank statement

    5. What are the balance transfer charges levied by ABHF?

      The balance transfer charges levied by Aditya Birla Housing Finance is 2% of the outstanding loan amount.

    Aditya Birla Finance Home Loan Reviews

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