Housing loans from Aditya Birla Housing Finance can be availed at attractive interest rates. The bank offers loans up to 90% of the property value. The processing fee when it comes to home loans is up to 1% of the loan amount and the loan tenure can go up to 30 years.Â
If you intend to apply for home loans by Aditya Birla Housing Finance Limited (ABHF), here are some important things to know:
Reference Rate
16.25%
Loan Amount
Minimum: NA, Maximum: Up to 90% of property cost
Processing Fees
Up to 1%
Penal Interest Rate
2% per month (24% p.a.)
Prepayment/Foreclosure Charges
Nil for floating-rate packages
2% to 4% for fixed-rate packages
Max Tenure
30 Years
Rate Packages Available
Floating/Fixed/Variable
Each home loan scheme, whether it is from a bank or NBFC, comes with its own set of charges apart from processing fee. Make sure you know more about the fees and charges you’ll be expected to pay at various junctures of a home loan process.
Aditya Birla Housing Finance Home Loan Interest Rates
ADHF home loan interest rates are based on a variety of factors, such as the loan amount and tenure, your credit score and repayment capacity, among other things. The standard interest rates offered by the company are as follows:
Aditya Birla Home Loan Schemes
Applicable Interest Rate (p.a.)
Home Loans
Salaried persons: 9% to 9.75%
Self-employed persons: 9% to 12.5%
Loan Against Property
10.75% to 16%
Lease Rental Discounting
Starting from 11%
Aditya Birla Housing Finance Limited is one of the most well-known housing finance companies in the country. It offers numerous financing options that cater to the different needs of customers. The company provides financing offers like the home extension loan, home financing loan, plot and construction loan among many others.
Features and Benefits of the Loan:
Some of the features and benefits of the home loans offered by Aditya Birla Housing Finance are mentioned below:
The company offers competitive interest rates.
The loan tenure extends
Individuals do not have to pay any pre-payment charges for floating rate home loans.
Customers can also choose to transfer the balance amount.
ABHF also offers quick and transparent loan processing.
The company offers door step services.
Who are eligible for Aditya Birla Housing Finance home loans?
Mentioned below is the eligibility criteria for home loans provided by Aditya Birla Housing Finance:
An applicant must be at least 21 years old to apply for a home loan offered by this lender.
The maximum age of eligibility for this loan is 60 years for salaried applicants and 70 years for self-employed applicants.
Loan to property value:
Property value
Financing amount
Up to Rs.30 lakh
90%
Rs.30 lakh to Rs.75 lakh
80%
Over Rs.75 lakh
75%
Documents Required for Aditya Birla Housing Finance Home Loans:
Documents Required for Salaried Individuals:
The documents required for salaried individuals are mentioned below:
Proof of identity and address
Passport
Voter ID
Driving license
Aadhaar card
PAN card
Proof of income
Salary slips of last 3 months
Form 16
Bank statement
Latest 6 months bank statement
Proof of other income
Receipts or documents of income. For e.g. Rental receipts
Property documents
A copy of title documents and approved sanction plan
Documents Required for Self-employed Individuals:
The documents required for self-employed individuals are mentioned below:
Proof of identity and address
Passport
Voter ID
Driving license
Aadhaar card
PAN card
Proof of income
IT returns
Financial documents for last 2 years
Computation of the last 2 years income certified by a CA
Bank statement
Latest 6 months
Proof of other income
Receipts or documents of income like rental receipts
Property documents
A copy of title documents and approved sanction plan
Types of Home Loans offered by Aditya Birla Housing Finance:
The different home loans offered by Aditya Birla Housing Finance are mentioned below:
Home loan: Aditya Birla Housing Finance offers home loans to help customers finance their dream homes. This loan is flexible in nature and provides consumers the option of choosing their desirable loan tenure and amount.
Home extension loan: The home extension loan offered by Aditya Birla is ideal for customers who want to extend their living spaces. It covers the costs of building an additional room or space to an already existing structure.
Home improvement loan: The home improvement loan is aimed at customers who want to renovate their homes. Home renovation can also prove to be a big expense and this loan helps finance that.
Plot and home construction loan: The plot and construction loan is designed for people who want to buy a plot of land and build a house on it in within a span of a few years. Due to the nature of buying and construction, the loan is disbursed in instalments.
Home construction loan: The home construction loan Is designed for people who wish to construct a house on a property they already own. This loan can be directly disbursed to the customer or to the engineer or architect of the construction project.
Home Loan EMI calculator
Before applying for a loan, you can easily check the EMI you will be required to pay through Aditya Birla’s EMI calculator. Follow the steps mentioned below to access the calculator:
Log on to the official website of Aditya Birla Housing Finance at https://homefinance.adityabirlacapital.com/
Scroll down the home page to find the ‘Quick links’ section.
Click on the ‘EMI Calculator’ option in that section.
It will direct you to the EMI calculator page where you will be required to enter details like the loan amount, loan tenure and interest rate.
After providing the necessary details, you can view the EMI to be paid in the field next to ‘Your EMI is’.
You can tweak the loan amount and tenure to reach an EMI amount that suits your budget.
If you are satisfied with the amount, you can proceed to apply for the loan from the same page.
Aditya Birla Capital nets significant numbers through its housing folios
Aditya Birla Capital recently made public its performance report for the recent year with a 31% profit being reported for the quarter that ended in June 2018.
The company’s housing loan folio stood at Rs.9,176 - a little over a billion dollar - is as little a time as 4 years since beginning operation. The Asset Under Management (AUM) surged to Rs.3,05,684 crore from Rs.2,62,113 crore with the total lending book rising to Rs.53,584 crore as opposed to Rs.41,066 crore seen during the previous quarter.
The income growth numbers were recorded at Rs.3,374 crore, which again is a significant step up in a very short span of time.
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I have faced many issue with the home loan, i am using the loan since from last 1.5 years, i wanted to change the EMI date and after several followup it has been done. The customer support is not prompt. The documentation process was lengthy and it took nearly more than 1.5 month to get the loan. The loan amount i got in 2 times, the rate of interest was 9-10%. The duration for repaying the loan was 30 years.
I got my Home loan in Aditya Birla with high rate of interst . Processing fees also is very high . The ROI is around 10.55 %. They took six months for approving my Home loan . Tenure period is 24 years . ROI is floating in Aditya .Depends on the terms and conditions , Aditya birla provides HL .
Hi,
After taking loan, Worst response from customer care and even Sales rep.
Rate of Interest is increased lot compared to other Banks, After taking loan.
And PreEMi amount and Interest Rate doesn't match.
Example, They shown interest rate as 8.85% but preEmi Amount calculated for 9.05%
Actually Other Banks Home Loan interest rate is 8.55 to 8.65% only
They proved that, They are worst in Home Loan.
Don't take home loan from Aditya Birla.
I am planning to change to some other bank.
Regards,
G Sivasankari
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16
G Sivasankari
, bangalore
Reviewed on Aug 24, 2018
I have taken a home loan with Aditya finance and my loan experience was up to the mark. The loan amount was for Rs 25 lakhs and the rate of interest was nominal at initial stage later on the rate of interest was increased. I am planning to balance transfer to different bank and the tenure for this loan is 20 years.
I had applied for a home loan with Aditya Birla. Initially I had some issues for the agreement but later it was sorted out. The representative didn't responded properly. I am pretty happy with the interest rate. The documentation process was fine, it is usual like other bankers. The part payment and pre closure option was pretty good.
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2
NARESH KAVURI
, hyderabad
Reviewed on Nov 23, 2017
I applied for a home loan with ADITYA BIRLA HOUSING FINANCE LIMITED. I had to close my home loan application later because the property is not yet finalized so I have post poned the plan and also I did not reach them out for the rate of interests and processing fees details and other details.
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0
DEBASISH BANERJEE
, kolkata
Reviewed on Nov 17, 2017
I have applied for my home loan with ADITYA BIRLA. The customer service and responses was really good. I have postponed the plan since my property is on hold. I have no idea about the rate of interest here . My overall experience was satisfactory.
Aditya Birla Housing Finance Limited contacted me for the home loan and due to my personal reasons I did not take the loan. The interest rate was around 8.7% and it was a bit on the higher side. Else the process was good and it was timely. No issues in all.
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0
SWAPNIL ASHOK ZAMBRE
, mumbai
Reviewed on Aug 31, 2017
Its been a while using bankbazaar to do my financial business. It has been a very satisfying and rewarding experience in terms of time, response and the products being offered. The same is acknowledged and well appreciated. Thanks a million
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2
T AHMED PASHA
, bangalore
Reviewed on Aug 21, 2017
Aditya Birla Housing Finance Limited is good and the overall experience was nice. The customer services was on time and I had no hassles to get a loan through. The documentation was simple and the the funds released was also as per requirement. The interest rate and charges is normal too.
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3
BALARAJU MARAPALLY
, hyderabad
Reviewed on Aug 08, 2017
Very very bad expperience
Home Loan disbursement has been stopped by Aditya Birla home finance ltd, without loan disbursement they are demanding me to pay interest for which I have not received. which is not acceptable. Please don't refer ABHFL to any one. Very bad process, to much delay in process . Don't make your other customers to get trouble with ABHFL.
I have taken my home loan from Aditya Birla Housing Finance Limited and it was a excellent process as they released the funds at the moment I needed, which made the process more convenient and easy. They also offered a very competitive interest rate at the time of me taking the loan. I got a rate around 9% and the fees was also a good deal.
ADITYA BIRLA housing loan service was good, They are good in sanctioning the requested amount in one shot to the customers, without any hassle. I got the loan amount of Rs.46 Lakhs with the interest rate of 9.30% and the tenure of 30 Years. But they charged some hidden charges they taken almost Rs. 15,000 from the disbursement. I appreciate they should give transparent to the customers.
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7
MANDAR ARUN KULKARNI
, pune
Reviewed on Dec 28, 2016
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