A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Repco Home Finance

    Headquartered in Chennai, Tamil Nadu, Repco Home Finance Limited (RHFL) is a proven and popular home loan financer with roots dating back to April 2000. This concern is registered with the National Housing Bank (NHB) and is currently operating with over 106 branches and 36 satellite centers across the South and Central Indian states. RHFL is committed to customer comfort and offering of the most cutting edge home loan products. In a distinct move that separates RHFL from the crowd, an exhaustive selection of 9 different housing loans are on offer. And, ably supported by a robust customer support initiative, choosing a loan product that works best for you is simpler and quicker than ever.


    Repco Home Loan interest Rate 2023

    Repco Home Finance offers 9 different home loans at affordable floating rate of interest starting at 8.25% p.a. The processing fee is 1% of the loan amount. The maximum repayment tenure is 20 years with up to 85% of the of the property value provided as the loan.
    Interest Rate 8.25% p.a. onwards
    Loan Amount Up to Rs.10 crore
    Processing Fee 1%
    Prepayment/Fore Closure 0% – 2%
    Loan to LTV Ratio Up to 85%
    Rate Package Floating/Fixed
    Penal Interest Rate 24% p.a.

    Repco Home Finance Loans

    One of RHFL’s biggest strengths is the large number of specialized home loan products on offer. An exhaustive list of the same, alongside a brief description, is listed below-

    • Dream Home Loan- The conventional housing loan that helps a borrower purchase or construct a new home/apartment/realty for residential use.
    • Home Makeover Loan- As the name so clearly specifies, this loan is intended for the simple/radical makeover of your cherished home. Familiarity breeds boredom, right? Spice it up with a home makeover.
    • Plot Loan- Loans that are intended for the purchase of a plot of land wherein eventually, a house will be built.
    • Super Loan- True to its name, this loan simplifies and intensifies the joys of owning a home. In theory, the loan helps the borrower construct/extend a property built on land registered in the name of his/her parents.
    • Fifty Plus Loan- Exclusive loan for persons above the age of 50 years. A thoughtful offering that configures the loan repayment cycle around the income stream (pension and other existing resources) of the borrower.
    • NRI Housing Loan- Exclusive to Non Resident Indians (NRI) for the construction/purchase of house/property in India.
    • Prosperity Loan- Loans against mortgage of immovable property, no questions asked as to the purpose for the loan.
    • New Horizon Loan- This loan is dedicated to aid the purchase and/or construction of commercial/ non-residential property.
    • Repco Rural- Loans upto Rs.15 lakhs that is applicable to the economically weaker sections of the society who wish to construct/purchase/repair/renovate/upgrade their house.

    These varied loan options make Repco Home Finance an attractive proposition indeed. The image of a people friendly, ‘grassroots level undertaking’ that understands its target audience, has also made Repco Bank and consequently, RHFL, very popular.

    Repco Home Finance Interest Rates

    One of the highlights of the Repco Bank Home Loan is the attractive, customer friendly interest rates on offer. At just 10.50% p.a for housing loans upto Rs.30 lakhs and 10.75% p.a for loans above Rs.30 lakhs, the offering from RHFL is a very cost-effective option indeed. Interest rates are offered in both fixed and floating options.

    Features and Benefits of Repco Home Finance

    The following customer centric benefits and defining features are ample reasons to choose Repco Home Finance as your ideal home loan provider, when you are out looking for the complete package-

    • Apply for the home loan easily, online.
    • Over 15 years’ experience in this specialty field ensures that Repco understands what it takes to compile an effective home loan- regards for the customer’s express needs and unique limitations.
    • Nine different home loan products that match the prospective customer’s specific requirement, without him/her having to sign up for a comprehensive package.
    • Repco Housing Finance is a big name in South India, with upwards of Rs.2,000 crores disbursed as home loans by 2014-15 financial year end. The company records year-on-year profits.
    • Robust customer support, a traditional approach that hinges on the latest technological advancements.
    • Wide network of branches in India.
    • Save on taxes as per the tenets laid under the Income tax Act, 1961.
    • The standard home loan application process involves limited documentation, zero red-tape, is completely hassle free with quick turnaround time.
    • Very competitive interest rates.

    REPCO Home Finance Eligibility Requirement

    A borrower must satisfy the following criteria to be eligible for a housing loan from Repco-

    • The applicant must be an Indian citizen.
    • He/she must be not be younger than 21 years at the time of loan application and over 65 years at loan maturity.
    • The applicant must have a steady source of income.
    • He/she must have a good credit history with no obvious red flags.

    The following documents must be submitted at the initial application stage-

    • Age Proof- Driver’s License, Voter’s ID, PAN Card, Birth Certificate, etc.
    • Identity and Signature Proof- Banker’s Sign Verification, any of the documents as listed above.
    • Address Proof- Ration card, Voter’s ID, Employer ID, Telephone Bill, etc.
    • Proof for Student Status- ID proof from School/College, Receipt for the last fees paid.
    • Income Proof- Latest salary slip, Salary certificate, Form 16/ IT computation for the last 3 years, Company’s appointment letter, 3 years audited financial statements with projection for next 2 years (for Businessmen), Brief write-up about the business.
    • Banking History- 3 month’s credit card statement and 1 year bank statement.
    • In Case of NRIs- Employment certificate, Contract document and details about renewal, Latest work permit, Identity card issued by the employer, Pay certificate (latest), NRE account statement for the last 6 months, etc.

    FAQs on Repco Home Finance

    1. What are the fees applicable on my housing loan application?

      The two types of applicable fees are Processing fees and the Administrative fees. Both of these charges must be paid at the time of application. The processing fee is 1% of the applicable loan amount while the administrative fees (paid post the sanction of the loan) is 0.5% of the loan amount

    2. How much money will I be saving per my annual taxes?

      Your Repco Home Finance saves tax as per the Income Tax Act, 1961. Under Section 88, a borrower paying back interest repayment to the tune of Rs.1,50,000 p.a can save upto Rs.50,985 p.a. Also, the borrower will enjoy tax benefits under Sec 80C for the repayment of the principal amount upto Rs.1,00,000 p.a, an amount equaling about Rs.33,990 p.a.

    3. What type of securities/collateral is permissible?

      Guarantee from one/two people, deposit of shares or other such securities, life insurance policies, etc.

    4. How long does it take from the initial application to the final disbursement of funds?

      According to set procedures, it takes between 4-7 working days from the initial application stage to the final housing loan disbursement stage. Prospective borrowers are constantly intimated about the various procedures involved.

    5. What is the basic formula to determine a prospective customer’s eligibility for a home loan?

      At Repco, a potential customer’s eligibility for a home loan is determined based on three factors- 1) Income of the applicant/co-applicant, 2) Value of the property to be acquired, 3) The applicant’s capacity for repayment.


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