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  • Cent Home Loan Scheme for purchasing 3rd or 4th house/flat

    Cent Home Loan Scheme for Purchasing 3rd or 4th House/Flat is designed for construction or acquiring an existing house or flat that’s not more than 40 years old. The interest rate charged starts from 9.25% p.a. You can take this loan for a maximum period of 30 years.

    Interest Rate 6.85% p.a
    Processing Fee Rs.2,500

    Features and Benefits

    • Low interest rates starting from 6.85% p.a.
    • Low processing fee
    • Minimum 25% of margin of financing for construction of new house or flat
    • 36 months of moratorium period at the time of construction

    How to Calculate EMI for Cent Home Loan Scheme for Purchasing 3rd or 4th House/Flat?

    Your EMI (Equated Monthly Instalment) depends on multiple factors including the loan amount, tenure, and interest rate. It’s always advised to check your EMI beforehand so that you can manage your finances in a better way.

    In order to calculate your monthly instalment amount, you can take help of Home Loan EMI Calculator. The entire process of computation is quite simple and hassle-free with a quick turnaround time. All you need to do is enter details pertaining to your home loan, including the loan amount, tenure, processing fee, and interest rate. After that, click “calculate” to check your EMI.

    This will be followed by an amortisation table giving you a complete breakdown of your payment schedule.

    Eligibility Criteria

    • Individuals or group of individuals (relatives)
    • Salaried or self-employed individuals
    • Minimum age of 23 years and a maximum of 70 years

    Documents Required

    For salaried

    • Identity proof
    • Address proof
    • Age proof
    • Last 3 months’ salary slips
    • Last 6 months’ bank statements
    • Latest Form 16

    For self-employed

    • Identity proof
    • Address proof
    • Age proof
    • Business address proof
    • Last 6 months’ bank statements
    • Latest Income Tax Returns
    • Profit and loss account statements with computation of income along with balance sheet


    1. What’s the margin of financing that I can get through this loan?

      You can get a minimum of 25% of the estimated cost for the construction or purchase of new house or flat. However, the final quantum of loan will depend on your repayment capabilities and value of the property.

    2. I am planning to acquire a house that’s more than 50 years old. Can I get this loan as a source of funding?

      Unfortunately, no. You can only get a loan for a house that’s not more than 40 years old and has 10 years of lifeline more than the tenure of the loan.

    3. Do I have to pay any processing fee?

      Yes, a processing fee of 0.5% of the loan amount, subject to a maximum of Rs.20,000 will be charged against your loan.

    4. What’s the holiday period offered?

      The holiday period offered under this scheme is 36 months where construction is undertaken.

    5. Who can be a co-applicant?

      Parents, sons, spouse, brothers, daughters, sisters, or any close relative can sign up as a co-borrower of this loan. The co-applicant then becomes the joint owner of your property.

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