A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Aspire Home Finance Corporation Limited (AHFCL)

    Aspire Home Finance Corporation Limited, now called Motilal Oswal Home Finance Ltd., offers home loans with attractive interest rates ranging from 12.00% to 16.00% p.a. with processing fees of up to Rs.5,000. You can avail a loan amount of up to Rs.25 lakh with repayment tenure of up to 25 years.


    Aspire Home Finance Corporation Limited offers home loans with great features and benefits like: attractive housing finance rates, balance transfer facility, doorstep service, nil prepayment charges and quick and transparent processing.

    You can find your eligibility for an Aspire Home Finance Corporation Limited home loan by filling in a short form. Aspire Home Finance Corporation Limited also offers eligible customers instant e-approval on home loan applications on BankBazaar.com. View details below.

    Aspire Home Finance Home Loan Interest Rates 2023

    Interest Rate 12.00% to 16.00% p.a
    Processing Fees Up to 5000 Rs.
    Loan Tenure 5 years to 25 years
    Partial pre-payment Charges Nil
    Pre-closure Charges Nil
    Guarantor Requirement No Guarantor Required

    Compare: Home Loan Interest Rate all Banks

    Types of Home Loans Provided by Aspire Home Finance:

    1. Home Loans (Purchase/ Resale):

      You can apply for an AHFL Home Loan of this category if you want to buy or new property or property put up for sale. Under this category of Aspire Home Finance, you can avail a minimum of 2 lakhs as loan and a maximum of 25 lakhs.

    2. Plot Loans:

      This product is designed for those looking for financial aid to buy land with the intention of building a home in it. AHFL offers plot loans up to 75 percent of the market value of the land including stamp duty and registration charges and verified by an AHFCL valuer.

    3. Constructions Loans:

      As the name suggests, this loan is specially created for those seeking finance to construct a home on a plot they already own. You can apply for a loan amount up to 85 percent of the total construction expenditures, checked and approved by a qualified architect and engineer.

    4. Composite Loans from AHFL:

      AHFCL provides composite loans towards buying of land (non-agricultural & only for the purpose of constructing a home). You can start the construction also with the same. Composite loans grant you a whopping figure of 75 percent of the prevalent market price of the plot which includes stamp duty as well as registration fee. You can also add the construction costs that covers 85 percent of the construction-related expenditures. These logistics should be validated by a competent architect and engineer.

    5. Home Improvement Loans:

      This loan is given for the purpose of home improvement such as repainting, rewiring, or getting new furniture. Enabling you to do all kinds of external and internal reparations in structure or otherwise in your current house, it basically covers flooring, tiling, roofing, repainting, electricals, change in plumbing (if required), fixing grills and so on.

    6. Home Extension Loans:

      You can apply for this loan if you want to extend your house. You might feel like adding one or more rooms or the kitchen is not big enough. If you have enough space and not enough money to go through the plan, AHFL’s Home Extension Loan is the way forward.

    7. MALA (Mahila Awaas Loan from Aspire):

      Customized for working class women, this is quite an affordable for them. You can avail a minimum amount of 2 lakhs and a maximum amount up to 12 lakhs under this scheme.

    Features & Benefits of AHFL Loans

    • AHFL has a range of home finance options on its platter, targeting customers from all backdrops.
    • You can avail up to 80 percent of the property value as loan.
    • The interest rates are well within affordability range.

    AHFL Loan Eligibility Criteria

    • The applicant (as well as the co-applicant) should be an Indian citizen and has to be of age 21 and above.
    • The applicant(s) should have a steady source of income.
    • The applicant should have a credit history satisfactory to the financier.
    • Salaried people has 25 years to settle the loan though the tenure must not go beyond age 60. But for entrepreneurs the age limit is 70.

    Required Documents for AHFL Loans (Documentation Procedure)

    Income Papers for Salaried Applicants:

    • Copy of one or more national identity card (Id proof and resident proof)
    • Salary slips of the last 3 months
    • Most recent Form 16
    • Last 6 months’ bank statements that reflects salary
    • Cheque for processing fees from your salary account

    Income Papers for Self-employed Applicants:

    • Copy of one or more national identity card (Id proof and resident proof)
    • Copy of your company registration paper if applicable
    • Latest income statement, balance sheet and ITR verified by a CA
    • Bank statements for the past one year

    How to calculate your AHFL Loan EMIs?

    Go to the official website of BankBazaar and click on the EMI Calculator option. You can enter the loan amount you are going to take, tenure and current interest rate in the given columns to get your EMI amount and schedule.

    Aspire Home Loan Procedure

    • Submission of a duly filled and signed application form online or in person.
    • Submission of the aforementioned income documents, KYC papers and initial processing fees.
    • You will have personalized assistance from an AHF official whenever you need.
    • Post submission, an AHF appraisal officer will discuss your options with you, after which an authorization letter with all the loan details will be handed to you.
    • After accepting the loan, you need to pay the remaining processing fees and all the papers related to your property for verification.
    • Loan amount will be disbursed as agreed between you after a final scrutiny.

    Fees & Charges:

    Types Amount

    Penalty for dishonored cheque

    INR 250 + Applicable Charges

    To retrieve documents

    INR 500 + taxes and/ or other statutory levies

    Fine for late EMI

    24% annually for the number of days after the due date

    Fee for Repayment schedule / Account Statement

    INR 250 + taxes

    Charges levied for Advance Payment Statement

    INR 250 + taxes

    Charges for Copy of No Objection Certificate or No due Certificate

    INR 500 + taxes

    Charges levied for List of Document

    INR 500 + taxes.

    CERSAI Charges

    INR 500 + taxes

    FAQs on Aspire Home Finance Home Loan

    1. How is my home loan eligibility calculated by AHFCL?

      The estimation method of Aspire Home Finance takes several factors associated to the applicant and co-applicant such as age, academic qualification, annual earnings, nature and type of occupation.

    2. Can I apply for AHF home loan on my own?

      It is compulsory to have a joint-applicant in your housing loan application. The co-owner of the house or property must be the co-applicant.

    3. How does Credit Appraisal work?

      Credit appraisal procedure assesses the credit-merit of the applicant. This is evaluated on the basis of applicant’s age, salary, expenses, investments, nature of occupation, prevailing loan obligations, number of dependent relatives etc.

    4. What is Legal Appraisal mentioned in the loan procedure?

      Legal appraisal process means doing a thorough background check of the applicant, the property in question and their credit history. The bank’s legal advisor has to give a clean chit before further processing of loan.

    5. What is Technical Appraisal?

      Technical appraisal is a customary diligence about the property in question. The stability and market value of the property is scrutinized by unannounced site visits and document verification.


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