A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 Sundaram BNP Paribas Home Finance
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 9.25% Floating
    0.50% (min. ₹10,000) + applicable tax
    12L - 5Crs
    1-20 Years (10 yrs plot loan)
    Response Time : Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    Eligibility Criteria
    Sundaram BNP Paribas Home Finance is Rated as "Pretty good" by 17 Users

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    Promised Interest Rate

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    Home Loan BYTES FROM OUR KITCHEN

    Sundaram BNP Paribas Home Finance

    Sundaram Finance Limited established Sundaram Home Finance Limited with the aim of making housing loans accessible to both the formal and informal section of society. The company was incorporated in 1999, as a subsidiary of Sundaram Finance Limited.

    A joint venture agreement was agreed upon in 2007 between BNP Paribas Personal Finance and Sundaram Finance Limited (SFL) in order to leverage the market potential. In 2007, after UCB attained a 49.9% stake in Sundaram Home Finance Limited, the Company was renamed as Sundaram BNP Paribas Home Finance Limited.


     

    You’re probably eligible for Sundaram BNP Paribas Home Finance if you are

    01
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    03
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    Sundaram BNP Paribas Home Finance Minimum Age

    At least 18 years old

    Sundaram BNP Paribas Home Finance Maximum Age

    Less than 65 years old

    Sundaram BNP Paribas Home Finance Eligible Employment Type

    Salaried or self-employed
    with regular income

    Sundaram BNP Paribas Home Finance Minimum Income

    Earn more than the minimum
    income required


     

    Your Sundaram BNP Paribas Home Finance amount eligibility is based on these factors

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    02
    03
    Sundaram BNP Paribas Home Finance Minimum Salary

    EMI limited to about 50% of monthly
    income

    Sundaram BNP Paribas Home Finance Maximum Loan to property value

    Loan capped @80% of property value

    Sundaram BNP Paribas Home Finance EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Sundaram BNP Paribas Home Finance amount by these steps

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    02
    03
    Sundaram BNP Paribas Home Finance Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Sundaram BNP Paribas Home Finance Maximum Tenure

    Choose longer tenure loan up to 20 years

    Sundaram BNP Paribas Home Finance Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Sundaram BNP Paribas Home Finance

    • 1. Signed application form with photograph
    • 2. Processing fee Cheque
    • 3. ID and residence proof
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    Sundaram BNP Paribas Home Finance Interest RatesUpdated on 25 Sep 2017

    Sundaram BNP Paribas Home Finance Details
    Interest Rate 8.35% to 9.25%
    Loan Tenure 1 Year to 20 Years
    Processing fee Salaried –Min of Rs.10,000 (plus applicable tax) or 0.5% of Loan Amount
    SE – Min of Rs.20,000 (plus applicable tax) or 1% of Loan Amount
    Pre-closure Charges Nil
    Guarantor Required No Guarantor Required

     

    Features of Sundaram BNP Paribas Home Finance:

    Sundaram BNP Paribas Home Finance can be used for the following purposes:

    • To build a house on plot of land that you already own
    • To purchase an existing freehold properties row house/ apartment or bungalow.
    • To purchase a house or apartment from a builder

    Loan Amount:

    The maximum loan amount that an applicant can avail is given below (This amount is subject to the market value of the property according to the assessment done by the company):

    For Home Loan:

    1. For home loan that is up to 20 Lakhs, 85% of the property value may be availed as loan. This value is determined by what Sundaram BNP Paribas Home Finance Limited values the property to be and what the company finds to be the customer’s repayment capacity.
    2. For home loan that is between 20 Lakhs and 75 Lakhs, 80% of the property value may be availed as loan. This value is determined by what Sundaram BNP Paribas Home Finance Limited values the property to be and what the company finds to be the customer’s repayment capacity.
    3. For home loan that is above 75 lakhs, 75% of the property value may be availed as loan. This value is determined by what Sundaram BNP Paribas Home Finance Limited values the property to be and what the company finds to be the customer’s repayment capacity.

    Maximum Term of Loan:

    • In the case of salaried employees, the maximum term of loan can be up to 20 years or up to the retirement age (whichever is earlier).
    • In the case of self-employed individuals, the maximum term of loan can be up to 15 years or until the customer turns 65 years (whichever is earlier).
    • In the case of NRI‘s, the maximum term of loan can be up to 15 years or until the customer’s retirement age (whichever is earlier).

    Property Insurance Scheme:

    A low cost property insurance scheme is offered by Sundaram BNP Paribas Home Finance Limited in association with Royal Sundaram Alliance Company Limited. This scheme makes sure that the property that is financed by the company is protected against various perils so that the customer can have peace of mind. The insurance scheme is effective for the entire period of the loan.

    These are the perils that could damage your property and is covered by the company:

    • Aircraft damage
    • Explosion /Implosion
    • Fire, Lightning
    • Subsidence, Impact damage, landslide and rockslide
    • Riot, strike and malicious damage,
    • Cyclone, storm, flood, typhoon, hurricane, tempest, tornado and inundation
    • Missile testing operations, bursting
    • Earthquake, Bushfire

    Sundaram Finance Home Loan Documentation:

    Along with the duly filled application form, applicant must submit the following:

    Salaried Employee:

    • Salary slips of the last 3 months.
    • Tax Return -Form 16/Latest Income.
    • Last six months’ bank statement.
    • Proof of identity, age and residence.

    Self-Employed Individual:

    • Profit and Loss Account of the company and individual for last three years
    • Balance Sheet of the Company and Individual for last three years
    • Copy of the tax paid challan/ Income-Tax Returns of the Company and Individual for the last three years
    • Bank statement of the company and Individual for the last six months.
    • Business profile and proof of business continuity.
    • Proof of identity, age and residence.

    Apart from these documents mentioned, SBNPPHFL may also ask for additional documents as found to be required while appraising the loan. For a detailed list of documents that’s required to be submitted please walk into any of the company’s branches.

    Sundaram Finance Home Loan Interest Rate:

    Kindly visit any of the company’s branches to find out the most accurate and recent interest rate that the company offers. Sundaram BNP Paribas Home Finance (SBNPPHF)’s interest rate is associated with SH-Prime Lending Rate (SH-PLR). The SH-PLR has been reduced to 8.70% p.a. from 9.25% p.a.

    Sundaram BNP Paribas Home Finance Eligibility:

    To be eligible for a home loan from Sundaram BNP Paribas Home Finance, one must be an Indian national. The borrower can be either an employed individual or a self-employed individual. NRIs can also apply for a home loan. Sundaram BNP Paribas Home Finance considers the following factors while deciding if the customer is eligible for a home loan and how much he/ she is eligible for:

    • Age
    • Monthly income
    • Monthly commitments
    • Qualifications
    • Employment
    • Savings background
    • Assets
    • Liabilities
    • Repayment history of other loans if any.

    Why apply for Sundaram BNP Paribas Home Finance on BankBazaar.com?

    Bankbazaar.com assembles a large number of products and options of home loans in one place so that it is easy to choose the home loan that’s right for you and also get approval directly. Using Bankbazaar.com to apply for a home loan is a simple task as you can compare the pros and cons in one go, and make sure that the features are in line with your specifications. When you apply for a Sundaram BNP Paribas Home Finance Home Loan through Bankbazaar.com, you can use the EMI calculator to check your loan eligibility, find how much you will be spending as EMI and further decide upon the loan amount and tenure. That means planning your budget is made easier than ever. What’s more, you can look out for special discounts and customized deal options you can avail thanks to BankBazaar’s association with various banks.

    How to Apply for Sundaram BNP Paribas Home Finance?

    Applying for a home loan from Sundaram BNP Paribas Home Finance is simple, quick and transparent. You can simply walk into any of the Sundaram BNP Paribas Home Finance branches to do so. You must have with you your latest income documents such as IT Returns, Salary slips, Bank Statements etc. so that you can find out how much loan amount you are eligible for. Along with the documents you must submit a duly filled application form.

    Alternatively, you can call any of the branches and a representative will answer your questions and assist you in the process of acquiring a loan.

    If you visit the website the Sundaram official website, you will find the application form. You must print out this form, fill it in and send it to any of the branches along with the necessary documents.

    Different Types of Home Loans Available at Sundaram Housing Finance:

    There are various types of Home Loans that offered at Sundaram BNP Paribas Home Finance. They fall in the categories of Housing Loan and Non-Housing Loans:

    Housing Loans:

    • Loan for purchasing of a residential plot
    • Home loans to construct a dwelling unit
    • Home loans for purchase of House or flat (either new or resale)
    • Home Extension loans which can be used to construct an additional room or floor in an existing house
    • Home Improvement loans which can be used for renovation purposes.
    • Takeover loans is the loan taken out to pay off an existing loan with another financial institution. This loan is then transferred to Sundaram BNP Paribas Home Finance.

    Non-Housing Loans (Only for Resident Indians)

    • Non Residential Property Loan (NRPRO loans) - to purchase an office or business space
    • Loan against Mortgage of Property (LAMP)

    The loans will only be offered if the property is duly approved by the competent authority.

    Sundaram Housing Finance FAQs:

    1. What is my eligibility for a home loan dependent on?

      Your eligibility for a home loan from Sundaram BNP Paribas Home Finance is dependent on factors such as monthly income, age, employment, monthly commitments, liabilities, qualifications, assets, savings background and history of repayment of other loans if any.

    2. What is the applicable rate of interest for a home loan from Sundaram BNP Paribas Home Finance?

      The type and quantum of loan will decide the interest rates applicable. In the case of Housing Loans, the interest rate begins at 8.70%. In the case of Non Housing Loans, the interest rate begins at 15.00% and goes up.

    3. How is the calculation for interest rate on my loan done?

      The calculation of interest rate is based on Monthly Reducing balance. The principal reduces each month from your EMI net of interest accumulated.

    4. What type of interest will be offered for my home loan?

      Floating (variable) rate of interest will be offered.

    5. Who can be a co applicant for a home loan?

      Co applicant(s) can also be co-owner(s) of the property in question. However this does not mean that all co applicant(s) must be co-owners. Co applicant(s) are usually, a spouse, parent, child etc.

    6. Are there any fees and charges that I must pay?
      • Along with submitting the loan application, you must pay a part of the processing fee upfront. This amount is non-refundable.
      • After sanction, but before disbursement of the loan, other charges such as Documentation, Property & Personal Insurance as well as Cersai charges must be paid.
    7. At the time of application, what are the documents that I will require?

      These are the basic documents that you will be required to submit when you submit your application:

      Salaried employees:

      • Last six months’ Bank statements
      • Proof of Identity
      • Proof of Address
      • Proof of Age
      • Form16 (Income-tax deduction certificate which has been issued by the Employer)
      • Last three months’ Salary Certificate/ Salary slips

      Self – employed:

      • Proof of Identity
      • Proof of Address
      • Proof of Age
      • Last six months’ Bank Statements
      • Last three year’s Tax paid challan and Income Tax Returns.
      • Business profile
      • Last three years’ Balance Sheet and Profit & Loss Account

      These are only the basic documents required by the company. You will need to provide further documents if the company is not satisfied by these.

    8. What are the property documents that need to be submitted?

      If you have decided upon the property that you want, you will need the following basic documents:

      • Agreement for sale / construction (as applicable)
      • Original title deeds
      • Approved layout/ plan
      • Parent document originals (as applicable)
      • The last 15 years’ Encumbrance Certificate which reflects the history of transactions
      • Revenue records such as Chitta, Patta, Adangal, property tax receipts, Town Survey Extracts

      These are only the basic documents required by the company. You will need to provide further documents if the company is not satisfied by these in order to establish marketable title.

    9. Will I need to register the mortgage in the company’s favor?

      The registration of mortgage will depend on the laws of the state in which the loan is availed. For example, in Karnataka, in the case of both non housing and housing loans, MOTD has to be duly registered in the concerned SRO. In the states of Andhra Pradesh and Kerala, a Simple Mortgage Deed has to be registered in the concerned SRO for all non-housing loans. for both Housing and non-housing loans in Tamil Nadu, a Memorandum confirming Deposit of Title deeds (MOTD) has to registered in requisite stamp paper in the concerned Sub Registrar’s office (SRO).

    10. When will disbursement of the loan take place?

      The disbursement of the loan takes place once the following conditions are met:

      • All the required documents which establish clear and marketable title are submitted to the company
      • Loan agreements executed
      • It is evident that there has been sufficient progress in construction that is proportionate to the own contribution.
      • Any conditions, if applicable, are complied with.
    11. The disbursement of loan will take place in how many instalments?

      The disbursement of loan will take place in full or in suitable instalments. This will depend on the requirement of funds and how construction is progressing (as assessed by the company).

    12. Is it compulsory for the property to be insured?

      Yes, you will have to take insurance for the property against natural hazards. The beneficiary of the insurance policy will be the lending institution.

    13. I am working in a different city from the city I would like to take the loan from. Is this possible?

      Yes, it is possible for you to take a home loan in one city while you work in another city. Since the company has many branches across South India (and a few in the North), it is easy to coordinate your matters. The details of the branches can be found on the website.

    14. On an average, how much time does sanctioning the loan take?

      Processing an application can take between 2 to 10 working days on an average. This includes processing of the application from sanction to disbursement. In this case all the required documents must be in order and the title to the property must be found to be clear and marketable. This must also include the proof that the borrower’s contribution has been utilized/ paid upfront.

    15. Is it mandatory for me to get property insurance cover?

      Yes, it mandatory for customers to get property insurance cover. It is however, one time and low cost.

    16. What is the premium payable for property insurance cover?

      The premium that must be paid depends on RSAIL. Customers must check with the company’s customer relations officer to get the most recent rates.

    News About Tax Benifits on Home Loan

    • Sundaram BNP Paribas Home Finance cut its home loan rates to 8.70%

      On January 10th, Sundaram BNP Paribas Home Finance, a non-banking financial company had cut its interest rate on home loans from 9.20% to 8.70%. The company is a joint venture between BNP Paribas and Sundaram Finance. The Managing Director of Sundaram BNP Paribas Home Finance, Srinivas Acharya said that the recent cut in lending rates will hopefully revive the real estate market. With over 100 branches to serve more than 50,000 customers across India, the company is planning to expand in the rural housing and affordable housing segments.

      16th January 2017

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  • Sundaram BNP Paribas Home Finance Reviews

    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "not good"
      0.5 3.0/5 "Satisfactory"
      It was a OK OK exp i had with the SUNDARAM BNP PARIBAS HOME FINANCE LIMITED for my home loan . They had fine way of contacting their customer on time and delivering the proper information what is required for the home loan process . the reason i didn't take the loan is i was more looking a loan from the bank side neither from the financiers side so only i dropped the plan .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 19, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      The Sundaram finance was ready to offer the 75% of the land value but I was in need of 90% land value loan, so that was the I haven;t proceed with Sundaram finance home loan plan. The customer service gave good response to my application. The rate of interest and the charges were nominal when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "EXCELLENT SERVICE"
      0.5 4.0/5 "Great!"
      Everything was fine with their service from the date I applied for my loan till I get my loan process was completed ,but when it comes to my documentation part I was little disappointed I have not got my acknowledgement document from them . Even the interest rate was also fine from them I was unhappy with their documentation part .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I didn't got the home loan with Sundaram BNP paribas Home finance limited because there was lack of property so that was the reason they told they cannot proceed with my home finance loan. The customer support was good with Sundaram finance limited. The rate of interest is nominal here. The documentation process was not done, they inquired about my property and told which is not doable.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Sep 05, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Perfect services"
      0.5 5.0/5 "Blown Away!"
      Sundaram BNP home finance was perfect in the home loan experience. The response was on time and they gave me all the details. Since my budget was not confirmed, I could not go ahead for the loan. I was also comfortable with the interest rate and processing charge.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 30, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      It was quite good at Sundaram BNP home finance for the home loan. They were customer friendly and responded fast. The process took two weeks and the rate of interest was of 9% and the processing charges was normal. The after loan services are also good.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 07, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      I tried to take home loan in HDFC Ltd but they were asking so many documents. Hence I gone with Sundaram Bnp for the home loan process was simple but they offered me 10.5% of interest it was high, still they didn't reverse the interest rate. I have taken the amount of 13 lakhs I would like to switch over to other bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      Sundaram BNP Paribas Finance Limited contacted me for the Home Loan when I applied for the same. They were on time and the process was quick. I did not go ahead because I decided to go ahead with a nationalized bank. The interest rate was around 9%.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 14, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Convenient Loan Process"
      0.5 5.0/5 "Blown Away!"
      I have taken my housing loan with Sundaram BNP Paribas, they offered me 9.5% of interest on home loans. I am paying the EMI for past five years it is good, I didn't face any issues with them. Their loan process was also good and they gave timely service, I am very satisfied with them.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I took a home loan from SUNDARAM BNP PARIBAS HOME FINANCE LIMITED. They have disbursed the loan with the interest rate of 9.1% and processing fee insurance overall charges was 40k. I was having the up to date documents so the process went on very smooth. And EMI is 27k for 10 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 19, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Not at all Happy with Sundaram BNP Paribas Finance Services "
      0.5 1.0/5 "Really Bad"
      Dont go for Sundaram BNP Paribas Finance for your Home Loan, They might offer you interesting Rate of Interest initially but once loan taken, they wont reduce ROI according to Market rates. 3 Years back approx I took Home Loan from them, Now as we all know ROI interest reduced to 8.6% in the Market. When I reached them regarding this, they said for existing customers we will reduce to 8.9% and for new customers we will offer 8.6%. I sent dissatisfaction mail to their customervoice ID, they never reply me back and after 6 days, they reached me on Phone and said, Loan interest rate cannot be reduced to 8.6% (we can only offer 8.9%). They even suggested me transfer your loan to other bank if you want. Plz guys stay away from Sundaram BNP Paribas Finance. Dont fall for initial benefits and documentation process. You will feel bad after came in.... Now I dont have a choice other than to go for 8.9% interest rate. .
      Was this review helpful? 0
      , vijayawada
      Reviewed on Apr 17, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Good services"
      0.5 4.0/5 "Great!"
      Sundaram BNP Paribas Home Finance Ltd was at their best in contacting me for the home loan. But I could not go ahead for the loan as the property I was looking for was not according to Vasthu. They were normal on the rate of interest and processing charges too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 05, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Not User Friendly Bank"
      0.5 2.0/5 "Expected more"
      I was not contacted by Sundaram BNP Paribas Home Finance Ltd on my home loan application. They were not showing any kind of interest, even they were not willing to collect my documents and not even done any kind of verification on my home loan application.
      Was this review helpful? 0
      , kochi
      Reviewed on Mar 02, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I was applied for my Home Loan with Sundaram PNB paribas home finance limited.In Initial stage the property owner was interested to sell his property , but after the issue of demonetization does not want the sell their property. Sundaram PNB paribas home finance limited was provide good customer service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 30, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      Sundaram BNP Paribas Home Finance Limited has not been beneficial to me as there was site limitations from them. The response was there and they informed me the details as well. The rate of interest and charges was okay on the average side. But they are not recommendable from my end for a home loan.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 10, 2017
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Should be Improve services"
      0.5 2.0/5 "Expected more"
      I was applied for my home loan with SUNDARAM BNP PARIBAS, I was totally disappointed with their services. Rate of interest was too high, processing fees and additional charges also high. They didn't update any information about my application, either it was selected or rejected.They should be improve their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 30, 2016
    • Sundaram BNP Paribas Home Finance Limited Home Loan
      "Poor response"
      0.5 1.0/5 "Really Bad"
      Sundaram BNP Paribas Home Finance Limited has not been beneficial to me. I had applied for a home loan with them and they have not given me any kind of information as to why my loan could not be processed. They had a good deal on the rate of interest and charges. But the services was not satisfactory.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 28, 2016
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