Equitas Small Finance Bank Home Loan 2025
Equitas Small Finance Bank offers home loans up to Rs.300 lakh at affordable EMIs, flexible repayment options, and quick approvals. The bank offers home loans at a rate of interest starting from 10.50% per annum.
Equitas Small Finance Bank home loan is a convenient and affordable financing solution. It offers competitive interest rates, flexible repayment options, and loans up to 90% of the property value that suits various housing needs and customer profiles. No income proof required and hence makes the process faster with speedy approval.
Features of Equitas Small Finance Bank Home Loan
The key features of Equitas Small Finance Bank Home Loan are mentioned below:
- Offers affordable EMI
- Quick and fast approvals
- Ensures flexible repayments
- Offers loan of up to Rs.300 lakh
Major Details of Equitas Small Finance Bank Home Loan
Here are more details of Equitas Small Finance Bank Home Loan:
Purpose | Self-construction of your homePurchase of a houseRepairs and renovationsLoan take over |
Eligibility | Salaried and self-employed individuals |
Loan size | Up to Rs.300 lakh |
Loan tenure | Up to 20 years |
Interest Rate of Equitas Small Finance Bank Home Loan
Here is the detail of rate of interest of Equitas Small Finance Bank home loan:
Minimum | Maximum |
10.50% | 15.50% |
Schedule Charges of Equitas Small Finance Bank Home Loan
The charges applicable on Equitas Small Finance Bank home loan:
Charges | Details of fees and charges |
Legal Charges | For loan amount less than or equal to Rs.5 lakh: Rs.2000For loans greater than Rs.5 lakh to 25 lakh: Rs.3000For loans greater than Rs.25 lakh: Rs.5000 |
Processing Fees | Up to 2% on the approved home loan amount |
Login Fee (Non-refundable and part of Processing fees) | For loans up to Rs.5 lakh: Rs.2,000 inclusive of GST For loans greater than Rs.5 lakh up to Rs.25 lakh: Rs.3,000 inclusive of GST For loans greater than Rs.25 lakh: Rs.5,000 inclusive of GST |
Admin Fee | Up to 0.2% on the approved home loan amount |
Part Pre-Payment Charges | Fixed ROI period: 2%For corporate borrowers (Floating ROI period): 2%Excluding corporate borrowers (Floating ROI Period): Nil |
Foreclosure Charges for | Fixed ROI Period:Payment made through own funds of the borrower(s): 2%Payment made through funds or instruments from other financial institutions: 4%Excluding corporate borrowers (Floating ROI Period): NilFor Corporate borrowers (Floating ROI Period):Payment made through own funds of the borrower(s): 2%Payment made through funds or instruments from other financial institutions: 4% |
Delayed Payment Charges | 24% per annum for the delayed days from EMI due date till the date of payment on the EMI due |
Cheque Bouncing Charges | Rs.500 |
Mortgage Creation or Release Charges and stamp duty | As per applicable state laws |
Documentation Charges | Rs.2,580 |
Field Visit Charges | Rs.250 per visit for EMI collection |
Repayment Swap Charges | Rs.500 |
Charges for providing a photocopy of documents | Rs.500 |
Credit Sheild, Property Insurance, and Personal accident cover | As applicable |
Switch fee | 0.25% on loan principal outstanding or Rs.5000 (whichever is more) |
Charges for mortgage release or cancellation | Rs.1000 |
Charges for providing physical Statement of Accounts or No due certificate | For more than once in six months: Rs.500Once in six months: Nil |
FAQs on Equitas Small Finance Bank Home Loan
- What is the maximum loan amount I can avail of with an Equitas SFB Home Loan?
You can avail yourself of a home loan of up to Rs.300 lakh, depending on your eligibility and property value.
- Who is eligible to apply for a home loan from Equitas Small Finance Bank?
Depedning on the bank’s eligibility criteria, both salaried individuals and self-employed professionals with a stable income can apply for Equitas Small Finance Bank home loan.
- What is the tenure range for Equitas Small Finance Bank Home Loans?
The repayment tenure of home loan offered by Equitas Small Finance Bank typically ranges up to 20 years.
- What documents are required to apply for a home loan?
Though the requirement of documents may vary depending on the customer profile, the common documents include identity proof, address proof, income documents, property documents, and bank statement
- How long does it take for home loan approval?
Subject to documentation, Equitas Small Finance Bank offers quick loan processing, and approvals are typically completed within a few working days.
- Are there any processing fees for the home loan?
Yes, a nominal processing fee of 2% of the approved loan amount is charged by the bank.
- Can I prepay or foreclose my Equitas Small Finance Bank home loan?
Yes, prepayment and foreclosure options are available with Equitas Small Finance Bank home loan.
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