Purchasing a property can be one of the most happiest, exhilarating experiences. A home is not only a place where memories are made but it is also a solid piece of investment. The value of a property only keeps increasing with time and no other asset has a better resale value than a house. Rising real estate costs and inflation makes us think twice before purchasing a property. Also, it is not a wise decision to burn all your savings to buy a property. It is always advisable that you opt for a home loan and repay it comfortably over a period of time.
At least 18 years old
Less than 65 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
EMI limited to about 50%
of monthly income
Loan capped @ 75% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 20 years
Alternatively add your parents
|Interest Rate||12.50% to 17%|
|Processing Fees||Processing Fees of 2% of Loan Amount|
|Loan Tenure||1 year to 20 years|
|Partial pre-payment Charges||Nil|
|Guarantor Requirement||No Guarantor Required|
AU Financiers Home Loans come with an array of customer-centric benefits like flexible tenures, attractive interest rates and hassle-free loan application process. Focussed at providing affordable loan options to people from middle and low income segments in rural and semi-urban areas, AU Financiers also offers loans for home renovation and improvement.
AU Financiers offers three types of loan options to meet the requirements of all customers.
This loan is for purchasing a row house, bungalow or flat from approved developers. This loan can also be utilized to purchase a freehold property and properties in an existing or proposed apartment owner’s association or cooperative housing society.
With AU Financiers Home Improvement Loans, you can make external and internal repairs, structural improvements and more to improve your quality of living. The loan amount can be utilized for terrace waterproofing, borewell, construction of water tanks, paving of compound wall, roofing, electrical & plumbing tasks, external and internal painting and for grills and aluminium windows.
You can renovate your house according to your taste with Au Home Renovation Loans.
AU Financiers offers rural housing loans for purchase of a new home, home extension, renovation & improvement of home and construction of a house on a plot in rural areas.
Specially crafted to meet the home loan requirements of agriculturists in rural areas, AU Financiers rural home loans for agriculturists will enable constructions of houses in residential area of their village. Also, loans are offered for buying a house or a flat in a city of their choice. This loan is offered for dairy farmers, horticulturists, planters and farmers.
AU Financiers also offers home loans in rural areas for self-employed professional & businessmen and also for salaried people.
The following benefits and features offered by AU Financiers Home Loans makes it a product in demand at the financial market.
AU Financiers offers up to 75% of the cost of the property, including the land cost. The maximum loan amount is decided by the repayment capacity of the customer. For home loans and home renovation loans, 75% of the estimated cost is offered as loan subject to market value of the property and subject to valuation of property by AU Financiers
AU Financiers home loans comes with a maximum repayment term of up to 15 years. However, this is subject to the retirement age of the applicant.
Borrowers can repay the loan as affordable Equated Monthly Instalments (EMI) which is calculated based on the loan amount, tenure and interest rate. Customers can make the EMI payment through Electronic Clearing System (ECS) or Post Dated Cheques (PDCs).
For AU Financiers home loans, the first mortgage of property that is finance by deposit of title deeds or such documents is taken as security. Other collateral security is taken if necessary.
With features like easy documentation, friendly customer service experience, transparent processing and wide network of branches, you can be guaranteed of a customer-centric loan experience.
AU Financiers offers a floating interest rate that varies between 12.50% to 19% on its home loans. While for a loan of Rs.10,00,000, a rate of interest of 12.50% will be charged, for a home loan of Rs.70,00,000, a rate of interest that ranges between 12.50% to 19% will be charged. This rate of interest is applicable to all kinds of housing loans offered by the company.
The documents required vary depending on the applicants’ nature of employment and income source. Here are some of the documents required for AU Financiers home loans along with duly filled application form & photographs.Salaried Customers
You get a lot of attractive benefits when you apply for AU Financiers Home Loans through BankBazaar.
Applying for AU Financiers home loan on BankBazaar is quick and hassle-free. With the constant guidance of our customer support team, all your queries will be answered promptly.
With instant rate quotes and quick approvals, you can take your loan process a step further from the comfort of your home.
With a plethora of home loan options available in the financial market, how do you find the loan plan that best suits your requirement? With BankBazaar’s home loan comparison wizardry, all you have to do is answer a few questions to get the best loan options lined in front of you.
If you have queries regarding the fees and charges for home loan, prepayment penalty, tenure and documents required, we’ve got all the information that you are looking for.
You will definitely have to spend a lot of your valuable personal time if you decide to go from bank to bank collecting information and brochures. But, with BankBazaar as your companion, you can find out the eligibility criteria, interest rates and other details and also breeze through the other home loan features at your own comfort!
|Technical Fee for property outside geographic limit or for additional property or pre-technical||Rs.1100 or Rs.1500 (location specific)|
|Late Payment Charges||3% per month compounded for number of days delayed for EMI payment|
|Duplicate No-due certificate||Rs.500 plus service tax|
|Personal Visit to customer’s location for collection of dues||Rs.250 per visit + service tax|
|Statement of loan prepayment/full closure||Rs.500 + service tax|
|Foreclosure Charges for AU Financiers home loans||
|Cheque bounce/ECS bounce||Rs.500 plus service tax per instrument/transaction|
|Loan cancellation if the customer managed to get own funds or in case the deal is cancelled||For requests received within 7 days after disbursement - Rs.1000 + service tax (cancellation charges). If request is received after 7 days of disbursement, Rs.1000 + service tax and PEMI till cancellation.|
|Copy of property papers||Rs.500 + service tax|
|Stamp Duty (as upfront charges)||As stated by law of the state|
|Search report/ Non Encumbrance Certificate||As per actuals|
|Duplicate provisional certificate and annual account statement||Rs.500 + service tax|
BankBazaar is your one-stop shop for all financial products including loans. Follow the steps given below to easily apply for AU Financiers Home Loans on BankBazaar.com.
AU Financiers bases the maximum loan amount on applicant’s repayment capacity that is calculated based on a several factors including age, income, co-applicants’ age, savings history, assets & liabilities.
To find out the monthly EMI for your loan amount, all you have to do is use an online home loan EMI calculator. You have to key-in details like the loan quantum, tenure, interest rate and processing charges. The calculator will tell you the monthly EMI amount and also the repayment history which will help you decide if the loan is affordable.
The applicant might be asked to submit certain property documents like the buyer’s agreement, allotment letter and receipts of payment made to the developer.
Yes, borrower’s will incur a processing charge of 2% of the sanctioned value plus service tax which will be collected before disbursement or deducted from first loan disbursement.
Borrowers will be asked to fill in the application form, collate & submit all necessary documents and submit a cheque for processing fees. After this is done, the assessment, home loan sanction, security assessment and home loan disbursement will happen.
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