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

    SRG Housing Finance provides affordable home loans with interest rates based on the SRG interest rate policy i.e., between 15% and 30% with a maximum loan tenure of 10 years. The processing fees are 0% to 3% of the loan amount.


    All of us dream of owning a home of our own and strive towards achieving that goal. Whether it be an apartment, a row house or a palatial bungalow, we aspire to buy or build our own.

    However with the current trends in the housing market, buying a home seems out of reach for most of us. In the event we can afford to purchase a home, sinking all our money into it is a foolhardy move, especially given the numerous added expenses that could crop up, both routine as well as unforeseen. Taking out a home loan would be a wise decision as you would be able to pay off the loan in easy instalments, helping you plan and budget for the expense. There are a number of players in the housing finance market, with SRG Housing Finance one of the trusted names.

    SRG Housing Finance Interest rate 2023

    SRG Housing Finance offers applicants loans and refinancing options at attractive rates of interest. The interest rate payable would be between 15% and 30%. The interest rate would depend on the risk, or as decided by the company.

    Overview of SRG Housing Finance

    Whether you wish to buy a new home or expand/renovate your existing one, SRG Housing Finance has the loan to suit your every need. SRG Finance was started in the year 1999 under the name Vitalease Finlease Private Limited. The company changed its name to SRG Housing Finance in 2000 and has been a leading provider of financing in the housing market.

    SRG Housing Finance Home Loans:

    Individual Home Loans:

    Choose the home loan that suits your requirements from the different options offered by SRG Housing Finance.

    • Sparsh Home Loan: This individual home loan offering can be availed by individuals as well as corporates. The loan can be taken out to fund the purchase of a new house or for those seeking to construct a home/property on an existing plot of land already owned.
    • Home Revision Loan: This loan offering is available to individuals and corporate entities who wish to undertake repairs and renovations on their existing properties. This loan can also be taken out for extensions to existing homes/properties.
    • Saral Plot Loan: This loan offering is available to individuals who are self-employed as well as those who are salaried for the purpose of purchase of plots of land. The purchased land is to be used to construct a house.
    • Specialty Loan: this is a unique loan offering as it is offered for the building of a house on land that is owned by the parents of the borrowers. This loan can be taken out for extensions to the house as well as additions to the existing house.
    • Home Loan for Self Employed: This loan offering is designed for the population who are not salaried but are still looking at taking out a loan to finance a house but are unable to due to their credit worthiness.

    Loan Against Property:

    • New Avenue Loan: This is a loan that is offered to individuals who wish to purchase a property for commercial or non residential purposes. The loan can also be used to construct or develop such a property.
    • Wealth Loan: This is an offering for salaried individuals who wish to take out a mortgage. This scheme is also available for self employed professionals with professional qualifications.
    • NRI Housing Loans: Loans are also available for Non Resident Indians who wish to take out a loan to purchase a home or property.

    Compare: Home Loan Interest Rate all Banks

    SRG Housing Finance Home Loan Eligibility:

    SRG Housing Finance has made it possible for all individuals to own their dream home courtesy their various loan and mortgage offerings. Whether individuals are looking at finance for a home, a commercial property or to refurbish or add to their existing property, there is a loan that fits the bill.

    Before individuals or entities can apply for a loan, they should check the eligibility criteria for the same. Individuals and entities can only apply for a loan if they fulfil the various criteria set out for each loan. Given below are the eligibility criteria for applying for a SRG Housing Finance loan:

    • An individual or a firm seeking finance to fund the sale of a property/home.
    • An individual who is able to repay the loan amount in instalments.
    • An individual or firm who satisfies the eligibility guidelines laid down by the company from time to time.

    Documentation Required

    Those individuals and entities who are eligible for a home loan have to provide the finance company with proof of their financial status and other such details so their credit worthiness can be verified before the loan is approved. The loan provider is also obliged to verify these documents to ensure the applicants are capable of paying back the loan amount. All eligible individuals and entities have to provide the following list of documents when applying for a loan.

    Salaried Individuals:

    The documents to be submitted by salaried individuals is as follows:

    • Know Your Customer (KYC) documents
    • Proof of employment- salary slips for the last three months or a salary certificate
    • In case salary is above Rs. 10, 000 a month, a copy of the latest Form 16
    • Documents of the property against which the loan is being taken out (both originals as well as photocopies)
    • Copies of bank passbooks or bank statements dating back 6 months. This includes the front page of the passbook/s.
    • In case the organisation is not a well-known one, a company profile should also be provided.

    Non-salaried Individuals:

    The documents to be submitted by non-salaried individuals like businessmen, self-employed professionals and others are as follows:

    • Know Your Customer (KYC) documents
    • Copies of the applicant’s Income Tax returns for the last three years as well as income computation that is attested by a Chartered Accountant.
    • Bank statements for the past one year for both Savings as well as current accounts.
    • Documents of the property against which the loan is being taken out (both original as well as photocopies)
    • Copies of the firm’s balance sheets and profit and loss account of the last three years attested by a Chartered Accountant
    • Copy of the Shops and Establishment License/VAT Registration or other necessary registration or license
    • Contract details (if applicable)
    • Advance tax paid/self-assessment tax challan copies
    • Educational certifications copies (in the case of professionals)
    • Professional practice certificates (in case of professionals)
    • Salary certificates (applicable for doctors receiving a salaried income)
    • Partnership deed copy (if applicable)
    • Tax deduction certificate or Form 16A copy (if applicable)

    List of documents to be submitted towards KYC compliance:

    The following documents can be submitted towards the KYC compliance

    Any one of the following towards proof of identity:

    Any one of the following towards proof of residence

    • Utility bills- telephone, electricity bills
    • Ration card
    • Bank statement or passbook mentioning address
    • Letter from employer

    SRG Housing Finance Home Loan EMI Calculator

    Those applying for a home loan will need to budget and save for this added expense. The loan can be paid in Equated Monthly Instalments, so the applicant is not burdened with paying a yearly amount at one go. To help applicants set aside money for the EMI’s, SRG Housing Finance has an EMI calculator, which generates the monthly instalments that have to be paid. This facility is available on the company’s website, saving applicants the trouble of going to a branch and finding out such details.

    To ascertain the amount to be paid each month, an applicant would simply have to input the loan amount and the tenure for which they desire the loan to be. A loan can be taken out for a maximum of 15 years. The applicant will also have to input the rate of interest and the calculator would generate the amount to be paid each month. This figure is indicative, and the applicant should contact the company for the fixed figure payable.

    Features of SRG Housing Finance Loans:

    SRG Housing Finance have a number of loans that cater to every need a potential applicant would have. The company also has loans for non salaried applicant, allowing those individuals without a steady source of fixed income the opportunity to avail a loan. The features of their loans are as follows:

    • Loan approval is quick, so applicants do not have to delay buying a home due to paucity of funds
    • Loans can be taken for residential and non-residential properties as well as for plots of land.
    • Loans available for both salaried as well as non-salaried individuals.

    FAQ on SRG Housing Finance Home Loan

    1. What is the procedure once I apply for a loan?
      • The first step is appraisal, where the applicant’s loan repayment capacity would be verified based on the documents submitted.
      • Once credit worthiness is ascertained, a technical evaluation will be done.
      • Loan sanction will be granted to applicant and co-applicant
      • Loan will be disbursed based on the conditions mentioned in the agreement.
    2. How much can I borrow?

      The loan amount will be determined by the price of the property/home you are buying. Loans amounts are generally between 75%-85% of the value of the asset.

    3. What factors determine my eligibility for a loan?

      The following factors determine loan eligibility:

      • Age
      • Income
      • Qualifications
      • Assets and liabilities
      • Number of dependants
      • Savings history
      • Stability of occupation and continuity
    4. How long will it take to process my home loan application?

      It generally takes 12-14 working days to process a home loan application. following this, the company will take about 7 days to verify details about the property and scrutinise the property details.


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