A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Star Housing Finance

    Star Housing Finance Limited provides affordable home loans with rate of interest ranging from 6.50% to 9.50% p.a. for a quantum of loan that goes up to Rs.25 lakh and tenures that go up to 20 years.

    Star Housing Finance Limited Details

    Star Housing Finance Limited (Akme Star HFC) focuses on fulfilling the dreams of the Middle Income Group (MIG), Lower Income Group (LIG), and Economically Weaker Sections (EWS) of society to own their own homes.

    Loan Amount Minimum: Rs.3 lakh Maximum: Rs.25 lakh
    Processing Fees 2.0% of the loan amount (excluding taxes and other charges)
    Tenure Minimum: 5 years Maximum: 20 years

    Compare: home loan Interest Rate for all Banks

    Star Housing Finance Limited Home Loan Interest Rates 2022

    Interest rates start at 6.50% and go up to 9.50% p.a. Apart from the processing fee of 2.0% of the loan amount, there is also Rs.3,500 login fee (including taxes but excluding incidental charges) which is non-refundable.

    Star Housing Finance Limited Home Loan Schemes

    Star HFC provides home loan schemes for a wide range of requirements with affordable interest rates. These are:

    1. New Purchase/Resale Home Loans

    • For the construction of a residential unit that is newly constructed
    • Can also be used to buy a house that is for sale
    • Loan tenure is up to 20 years
    • Loan amount is up to Rs.25 lakh

    2. Improvement Loans

    • Can be used for renovation, repairs, and improvement of residential units
    • Loan amount of up to 70% of the estimated cost

    3. Extension Loans

    • For extension of existing residential units
    • Can be used for constructing an extra room or floor
    • Must comply with approved plans by a competent authority

    4. Composite Loans

    • To purchase a plot and construct a house on it
    • Loan amount for the plot would be up to 60% of its market value
    • Loan amount for the house would be up to 70% of the construction cost

    5. Construction Loans

    • To construct homes on land that is already owned
    • Loan amount of up to 70% of the construction cost of the house

    6. Balance Transfer Loans

    • For transfer of existing home loan from a bank or lender to Star Housing Finance Limited at lower interest rates
    • Top-up of existing loan can be availed
    • Top-up loan can be Rs.2 lakh or 20% of the balance transfer amount, whichever is lower

    Star Housing Finance Limited EMI Calculator

    BankBazaar’s home loan calculator helps you find out how much your Equated Monthly Instalment (EMI) will be for your loan. All you have to do is enter the desired loan amount, interest rate, processing fee, and tenure. The detailed amortisation table will be displayed instantly. This will help you budget your finances and manage it better.

    Star Housing Finance Limited Eligibility Criteria

    The eligibility criteria is based on specific qualitative and quantitative techniques which will be based on details on the application form, appraisal officers’ evaluation, and documents submitted.

    Get Free Quote: Check Home Loan Eligibility

    Documents Required to Apply for Star Housing Finance Home Loan

    These are some of the documents required at the time of application:

    Address Proof (any one):

    • Electricity bill
    • Ration card
    • Telephone bill
    • Registered rental agreement
    • Bank passbook
    • Gas bills
    • Letter from society

    Identity Proof (any one):

    • PAN card
    • Voters ID
    • Aadhaar card
    • Passport
    • Driving license

    Age Proof (any one):

    • PAN card
    • Passport
    • Driving license
    • School leaving certificate
    • Birth certificate
    • Age affidavit, signed and stamped

    Income Documents: Salaried and Resident Indians:

    • Latest Form 16
    • Last 6 months’ salary bank account statements
    • Last 6 months’ other savings bank account statements
    • Last 3 months’ salary slips or salary certificate
    • Proof of investments/savings
    • Proof of other income

    Salaried Non-Resident Indians:

    • Last 6 months’ salary slips
    • Last 6 months local and overseas bank account statements
    • Last 6 months’ NRO/NRE bank statements
    • Latest employment contract or work permit
    • Report from credit bureau with credit score
    • Continuous Discharge Certificate copies
    • Copy of passport with visa that is valid
    • Non residence proof
    • Person of Indian Origin (PIO) proof
    • Power of attorney

    Self-Employed (Professional and Non-Professional):

    • Last 2 years’ ITR
    • If salary is drawn, salary statement, bank statement, and Form 16
    • Advance tax challan or self-assessment tax-paid challan
    • Last one year’s savings and current accounts bank statements of self and company
    • Business profile on company’s letter by the applicant
    • Statement of net worth
    • Proof of savings and investments
    • VAT registration/shop establishment license

    Document Check List: Home Loan Document Required


    1. Can I add a co-applicant if necessary?

      For Star home loans, a co-applicant is mandatory. The co-owner is the one who has to be listed as the co-applicant.

    2. What is the minimum age to be eligible for the loan?

      The minimum age to be considered eligible, if you have a property already or wish to own one, is 21 years. If income is not one of the factors taken into account, then the minimum age is 18 years.

    3. Is pre-payment of the loan allowed?

      Yes, you can make a pre-payment fully or partially after 12 months of loan disbursal. There are no charges for pre-payment, whether it is in full or in part.

    4. Can I get a Pradhan Mantri Awas Yojana (PMAY) subsidy under Star home loans?

      If you meet the eligibility criteria for PMAY, then yes, you can avail a subsidy as Star Housing Finance Limited is a Primary Lending Institution (PLI) under the PMAY.

    5. Once I get the loan, can I get an additional loan too?

      Yes, you can avail an additional loan through your existing home loan account. This depends on the value of your property and your repayment capacity.


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