Rural home loans make it possible to achieve the Government of India’s objective of ‘'Affordable Housing for All’'. These loans have special features such as zero to very minimal processing fees, flexible eligibility criteria, and minimal documentation. Interest rates range from 8.05% p.a. to 13.75% p.a. with maximum repayment tenure of up to 30 years. Loan amounts can range from Rs.2 lakh to Rs.75 lakh.
More Details: PMAY Gramin
|Rural Housing Finance||Interest Rate||Processing Fee on Loan Amount|
|HDFC Rural Housing||7.35% p.a.||Up to 6%|
|Bajaj Housing Finance||9.25% p.a. onwards||Up to 6%|
|Indiabulls Rural Home Loans||8.99% p.a. onwards||Up to 2%|
|Bank of Baroda Rural Finance Scheme||6.25% p.a||0.125%|
|IIFL Rural Housing Scheme||8.70% p.a.||Up to 1.25%|
|Axis Asha Home Loan||10.05% p.a.||Up to 1%|
Compare: Home Loan Interest Rate all Banks
The following are the eligibility criteria for rural home loans:
The following documents are required to be submitted at the time of loan application:
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