Can Fin Homes Ltd Home Loan

Can Fin Home Loan Interest Rates 2023

Can Fin home loans have a floating rate of interest. For some loan schemes, the interest rate is fixed for the first 3 years and then converted to the floating rate prevalent at the time with the payment of specific conversion charges. Rate of interest is based on the risk rating of the borrower.

Can Fin Home Loan Offers

The following are the home loan schemes that you can avail from Can Fin Homes:

1. Individual Housing Loan (IHL)
   • Interest rate: 8.25% to 9.75% p.a..
   • Processing Fees:
     • For salaried and professionals: 0.50% + GST of the loan amount
     • For self-employed non-professionals: 0.75% + GST of the loan amount
   • Can be used for purchase of a house or flat that is already built or under construction
   • Can be used for construction of a house or flat
   • Can be used for renovation, repairs, extension, and upgradation.
   • Margin of the loan ranges from 15% to 25% based on quantum of the loan
2. Individual Housing Loan – Super (IHL-Super)
   • Processing Fees:
     • For salaried and professionals: 0.50% + GST of the loan amount
     • For self-employed non-professionals: 0.75% + GST of the loan amount
   • For construction of a house or flat
   • For purchase of a house or flat that is already built or under construction
   • For renovation, repairs, extension, and upgradation.
   • Rate of interest is fixed for the first 3 years and later converted to floating rate on prevailing interest rates with the payment of conversion charges which are 0.50% of the loan amount + GST
3. Commercial Housing Loan (CHL)
   • Interest Rate: 8.35% to 10.15% p.a.
   • Processing Fees:
     • For salaried and professionals: 0.50% + GST of the loan amount
     • For self-employed non-professionals: 0.75% + GST of the loan amount.
   • Construction of a house for 3rd unit onwards
   • Purchase of a site and construction of house thereon for 3rd unit onwards
   • Purchase of a ready-built or under-construction house or flat for 3rd unit onwards
   • Renovation, upgradation, repairs, and extension for 3rd unit onwards
4. Affordable Housing Loan-Rural (AHL-R)
   • Interest Rate: 8.35% to 10.15% p.a.
   • Processing Fees:
     • For salaried and professionals: 0.75% + GST of the loan amount
     • For self-employed non-professionals: 1.00% + GST of the loan amount
   • For individuals belonging to weaker sections as defined by RBI’s priority sector guidelines
   • Property in women’s names, either jointly or singly
   • Annual income not exceeding Rs.3 lakh
   • For purchase of ready-built or under-construction flat or house
   • For repairs, renovation, upgradation, extensions
   • Rate of interest is fixed for first 7 years and converted to variable rate following that
5. Affordable Housing Loan-Urban (AHL-U)
   • Processing Fees:
     • For salaried and professionals: 0.75% + GST of the loan amount
     • For self-employed non-professionals: 1.00% + GST of the loan amount
   • For purchase of ready-built or under-construction flat or house
   • For repairs, renovation, upgradation, extensions
   • Annual income not exceeding Rs.6 lakh
   • Rate of interest is fixed for first 7 years and converted to variable rate following that
6. Composite Housing Loan
   • Interest Rate: 8.00% p.a. to 10.75% p.a.
   • Processing Fees:
     • For salaried and professionals: 0.50% + GST of the loan amount
     • For self-employed non-professionals: 0.75% + GST of the loan amount
   • For purchase of site and construction of house thereon