Sewa Grih Rin Home Loan
Sewa Grih Rin Limited, also known as Sitara offers home loans especially for under-served low income groups in urban and peri-urban areas. Home loans are offered for construction, upgradation or improvement, and a loan against property that can be used for personal or business reasons. The loans come with tenures of up to 20 years and interest rates from 18% p.a. The minimum loan amount offered is Rs.50,000.
Sewa Grih Rin Limited Home Loan Interest Rates
The interest rate offered on the home loans depend on the type of loan chosen. The Home Loan charges 18% p.a. interest whereas the Loan Against Property charges 20% p.a. interest.
Home loans are offered to niche groups to improve quality of life. The loan targets informal workers, especially women. The target group includes vendors, domestic workers, sweepers, construction workers, home based workers, and self-employed individuals.
Loan Amount | Minimum: Rs.50,000 Maximum: Rs.12 lakh |
Max. Tenure | 20 years |
Interest Rate | 18% p.a. - 20% p.a. |
Compare: home loan Interest Rate for all Banks
Sewa Grih Rin Limited Home Loan Schemes
As mentioned before, there are two schemes offered by Sewa Grih Rin Limited:
1. Home Loan:
- Can be used for construction, purchase, incremental improvement, upgradation, and renovation.
- Loan amounts from Rs.50,000 to Rs.12 lakh.
- Maximum tenure of 20 years.
- Interest rate of 18% p.a.
2. Loan Against Property:
- Can be used for personal, business, or educational purposes.
- Loan amounts between Rs.50,000 and Rs.5 lakh.
- Maximum tenure of 10 years.
- Interest rate of 20% p.a.
Sewa Grih Rin Limited Home Loan EMI Calculator
You can use the BankBazaar Home Loan Calculator to know how much EMI (equated monthly instalment) you'll pay on this loan. By entering the loan amount, tenure, processing fee, and interest rate, you will get the EMI for the loan. You will also get a detailed amortisation table with a monthly and yearly break-up of how much you'll pay towards the principal amount and interest amount.
There's another feature that allows you to enter any prepayments you are planning to make during the course of your tenure. Once you enter this information, the calculator will tell you by how many years your tenure will be shortened and how much you will save on interest payments if you make such prepayments.
Sewa Grih Rin Limited Eligibility Criteria
Here are the eligibility criteria for home loans offered under Sitara:
Age Criteria | Minimum: 18 years Maximum: 60 years |
Guarantor Requirement | Yes |
Credit Assessment | Based on documented and non-documented incomes |
Collateral | Can be formal tenure, informal tenure, or progressive tenure on land rights |
Get Free Quote: Check Home Loan Eligibility
Documents Required to Apply for Sewa Grih Rin Limited Home Loans
Here is the list of documents required to apply for a home loan:
- Completed application form.
- KYC documents for ID and Address proof: Aadhaar Card, Ration Card, PAN Card, Voter ID, etc.
- Income proof documents: Salary slip, Form 16, IT Return, banking, informal income, etc.
- Property documents: Chain of Title Deed documents.
Document Check List: Home Loan Document Required
Disclaimer
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