Vastu Housing Finance
Vastu Housing Finance provides home loans for a wide range of home finance requirements with loan amounts of up to Rs.50 lakh and a maximum tenure of 20 years. Interest rates are floating rate and range from 12.5% p.a. to 17.5% p.a. with processing fees of up to 2% of the loan amount (plus taxes and levies).
Vastu Housing Finance Home Loan Interest Rates
Vastu Housing Finance home loans can be used for a wide variety of home requirements, from buying a ready property to constructing a new one. You can also avail a pre-approved loan even before finalising the property you want to purchase.
Interest Rate for Self-employed | 13.5% p.a. - 17.5% p.a. |
Interest Rate for Salaried Individuals | 12.5% p.a. - 16.5% p.a. |
Loan Amount | Maximum: Rs.50 lakh |
Processing Fees | Up to 2% of the quantum of loan + taxes and levies Rs.3,000 + taxes at the time of application for appraisal purposes |
Max. Tenure | 20 Years |
Vastu Housing Finance Home Loan Schemes
Vastu Housing Finance offers a variety of home loan schemes that cater to different requirements. These schemes are as follows:
- Home Loan
- Can be used to buy a ready property or under-construction one.
- Maximum quantum of loan is Rs.50 lakh
- Tenure of up to 20 years but based on other factors as well.
- Home Extension/Improvement Loan
- Can be used for external and internal repairs and structural improvements.
- Can be used to build an extension to the existing unit.
- Maximum loan amount is Rs.50 lakh.
- Maximum loan tenure is 20 years.
- Construction Loan
- For the construction of a house on a pre-owned plot of land.
- Refinance can be availed for excess payment already provided by the borrower in case construction has started 3 months before date of the loan sanction.
- Maximum tenure is 20 years.
- Maximum loan amount is Rs.50 lakh.
- Plot + Construction Loan
- A two-part loan that can be used to purchase a plot and construct a house on it.
- Plot loans of up to 60% of land's market value or up to 75% of the land price.
- Maximum loan amount is Rs.50 lakh.
- Maximum tenure is 20 years.
Vastu Housing Finance EMI Calculator
Understanding how much EMI you would have to pay will help you budget and manage your finances better. BankBazaar's home loan calculator helps you do this easily. All you have to do is enter the details of your required loan amount, the prevailing interest rate, the tenure that is feasible for you, and processing fees into the required fields. The EMI you will have to pay as well as a detailed amortisation table will be displayed instantly.
Vastu Housing Finance Eligibility Criteria
Type of Employment | Salaried or self-employed individuals |
Nationality | Indian residents |
Get Free Quote: Check Home Loan Eligibility
Documents Required to Apply for Vastu Housing Finance Home Loan
The documents required to be submitted include the following (some additional documents may be required at the lender's discretion):
- Address proof documents
- Identification documents
- Income proof documents
- Property documents
- Bank statements
- Duly filled application form
Document Check List: Home Loan Document Required
FAQs on Vastu Housing Finance Home Loan
- Is the interest rate on Vastu Housing Finance home loans fixed or floating?
Both types of interest rates are available depending on the type of collateral and eligibility of the customer.
- Is pre-payment allowed?
Yes, you are allowed to make pre-payments on the loan.
- Is the processing fee refundable?
The processing fee is not refundable as it is collected to appraise the application of the loan.
- What parameters determine loan eligibility?
There are various parameters that determine loan eligibility such as the borrower's age, work history, type of income, etc.
- Is collateral required?
A collateral or security interest on the financed property may be taken depending on the terms and conditions in the sanction letter.
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