Hero Housing Finance home loans can be used for buying a ready property, constructing a new house on already owned property, purchasing a plot and constructing a house, or for expansion and improvement of an already existing residential unit.
|Interest Rate||9.75% p.a.|
|Loan Amount||Minimum: Rs. 10 lakh|
|Max Tenure||For salaried: 30 years For self-employed: 20 years|
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:
2. Construction/Improvement/Expansion Loan
a. To finance the expansion or renovation of an existing residential unit
b. Maximum loan tenor is 20 years
BankBazaar’s home loan calculatorhelps you calculate your EMI conveniently. It displays a comprehensive amortisation schedule that helps you plan and budget your finances even before you have applied for a loan. All youhave to do is enter the required loan amount, your interest rate, the tenure that suits you, and processing fees into the relevant fields for the data to be displayed instantly.
Get Free Quote: Check Home Loan Eligibility
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
1. 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’'.
2. 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.
3. 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.
4. Is property chain required for the home loan?
Yes, property chain of 13 years is required for the home loan.
5. 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.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.