North East Region Housing Finance Company Ltd., also known as NERHFC, is one of the top Housing Finance Companies that cater to customers in the hilly regions of North East India and Uttaranchal.
The home loan offered by NERHFC comes loaded with a host of features like easy repayment methods, longer tenures, tax benefits, multiple purposes for which the home loan may be used, along with a few other notable features.
North Eastern Region Housing Finance provides home loans to individuals at very competitive interest rates. The rate of interest applicable on the NERHFC Home Loans ranges between 13.00% to 16.50%, dependent on the conditions of the money market.
An individual’s eligibility for a NERHFC Home loan is determined on a variety of factors like their age, educational qualifications, stability/regularity/continuity of income, co-applicant’s income (if any), assets, liabilities, repayment capability and saving habits, among others.
In order to apply for a NERHOFIC Home loan, applicants must adhere to certain documentation requirements and procedures. To facilitate speedy application for a home loan, applicants must submit the following documents.
Customers have two different options to repay their loan, depending on the amount of their home loan EMI. The first option is to repay the loan via ECS (Electronic Clearing Service) which is based on the instructions provided to the borrower’s bank. The second option available is to make the payment via PDCs (Post-dated cheques) which must be drawn on the applicant’s Salary or Savings Account.
Yes, you can avail tax exemption for up to Rs 2,50,000 in a year on your home loan interest payment and repayment.
The processing fee applicable on these home loans varies for salaried and professionals. For salaried applicants, the processing fee will be charged at the rate of 1.5% of the loan amount. For self-employed professionals / non-professionals, the processing fee will be charged at the rate of 2% of the loan amount with addition to applicable GST.
Applicants can avail this home loan for a tenure ranging between 5 years to 12 years.
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