Hero Housing Finance
Hero Housing Finance Ltd. offers a range of home loan solutions to help customers who want to buy a house. Home loan interest rates start from 9.50% p.a., with flexible repayment tenures of up to 30 years, making home financing more accessible and affordable for eligible borrowers
Hero Housing Finance Home Loan Interest Rates
Hero Housing Finance home loans can be used to purchase a ready to move in property, construct a house on a plot you already own, buy a plot and build a home on it, or finance the expansion and improvement of an existing residential property.
Interest Rate | 9.50% p.a. |
Loan Amount | Maximum: Rs.5 crore |
Max Tenure | For salaried: 30 years For self-employed: 20 years |
Hero Housing Finance Home Loan Schemes
Hero Housing Finance offers a variety of home loan schemes that cater to different requirements. These schemes are as follows:
1. Home Loan/Plot + Construction Loan/Balance Transfer
a. For the finance of an under-construction property or a ready-to-move-in property
b. Quantum of loan:
- Up to Rs.30 lakh:90% of property value
- Rs.30.01 lakh - Rs.75 lakh: Up to 80% of the property value
- More than Rs.75 lakh: Up to 75% of the property value
2. Construction/Improvement/Expansion Loan
a. To finance the expansion or renovation of an existing residential unit
b. Maximum loan tenor is 20 years
Hero Housing Finance EMI Calculator
BankBazaar's home loan calculator makes it easy to estimate your EMI. It also provides a detailed amortisation schedule, helping you plan your finances before applying for a loan. Simply enter the loan amount, interest rate, preferred tenure, and processing fees, and the results will be displayed instantly.
Hero Housing Finance Eligibility Criteria
- Type of Employment: Salaried or self-employed individuals
- Age: For Salaried 65 years or retirement age, whichever is earlier and for Self-employed (non-professionals and professionals) is 70 years.
Get Free Quote: Check Home Loan Eligibility
Documents Required to Apply for Hero Housing Finance Home Loan
These are the documents required to apply for a home loan from Hero Housing Finance:
Proof of Identity, Residence, Age (any combination that fulfills all the criteria) | Aadhaar card, PAN card, Valid passport, Voter ID card, Driving license. |
Proof of Income | Form 16 for the past 2 years, Salary slip from the last 3 months, Bank statements showing salary credits from the past 6 months, If present employment is less than 1 year old, appointment letter with salary breakup |
Property related Documents | Copy of the buyer agreement/sale deed/allotment letter, Payment receipts made to the seller/developer/builder, |
Any current loans | Bank statement showing EMI payments of the last 6 months or Statement of Account (SOA) of loans, |
Application documents | Application form, Passport size photos of all applicants/co-applicants, Processing fee cheque in the name of Hero Housing Finance Ltd. |
Document Check List: Home Loan Document Required
FAQs on Hero Housing Finance
- How do I apply for a home loan from Hero Housing Finance?
You can easily apply for a home loan from Hero Housing on the website or by visiting the nearest branch. A customer service executive will get in touch with you if you fill up the online form on the page ''New Home Loan''.
- How do I increase my eligibility for the loan?
You can increase your eligibility by any one or more of the following ways: adding a co-applicant, declaring other sources of income, repaying all your existing loans, or even by opting for a longer tenure.
- Who can I add as a co-applicant for the loan?
You can add any family member or blood relative whose income can be used to supplement your income.
- Is property chain required for the home loan?
Yes, property chain of 13 years is required for the home loan.
- What is the minimum monthly salary required to be eligible for the home loan?
A minimum of Rs.15,000 per month is required to be eligible for the home loan.
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