A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Can Fin Homes Ltd Home Loan

    Can Fin Homes Ltd. is a housing finance company that is promoted by Canara Bank. It offers a range of affordable housing loan schemes at floating interest rates starting at 7.75% p.a. with processing fee of 0.50% + GST of the loan amount. The maximum loan repayment tenure is 30 years.

    CanFin Home Loan Details

    Can Fin home loans are available for both salaried and self-employed individuals.

    MCLR Contact the lender
    Loan Amount 70% to 90% of the project cost (excluding registration)
    Processing Fees 0.50% to 0.75% + GST of the loan amount
    Penal Interest Rate Contact the lender
    Prepayment/Foreclosure Charges Nil
    Max Tenure 30 years
    Rate Packages Available Fixed rate and floating rate
    More

    Can Fin Home Loan Interest Rates 2021

    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.

    Schemes Interest Rates
    Can Fin Individual Housing Loan (IHL) 7.75% p.a. to 9.75% p.a.
    Can Fin Affordable Housing Loan 7.75% p.a. to 9.75% p.a.
    Can Fin Credit Linked Subsidy Scheme 7.75% p.a. to 9.75% p.a.
    Can Fin Commercial Housing Loan (CHL) 7.85% p.a. to 10.90% p.a.
    Can Fin IHL Cash Salary 9.55% p.a. to 11.80% p.a.
    Can Fin Composite Housing Loan 8.00% p.a. to 10.75% p.a.

    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: 7.75% p.a. 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: 7.85% p.a. to 10.90% 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: 9.25% to 12.75% 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
      

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