Shriram Housing Finance is a part of the financial conglomerate, Shriram Group, which is headquartered in Chennai. The Shriram Group is engaged in providing a range of financial services which includes home loans as well.
The Shriram Housing Finance Home Loan is an affordable and hassle free answer to your home financing needs. This home loan may be used for any of the following purposes - purchase of a plot of land for the purpose of constructing a house; purchase of a new or existing house/flat; construction of a house on existing plot of land; to take over an existing home loan or renovation / repair / extension of a pre-owned house.
The Shriram Housing home loan is popular for a variety of reasons, some of which are listed below.
In order to be eligible for the Shriram Housing home loan, applicants must comply with the following criteria. Please note that an applicant’s loan eligibility is also evaluated on the basis of their repayment ability.
In order to apply for this home loan, individuals must furnish the following documents.
The interest rate applicable on this home loan is on floating basis and is linked to the current Shriram Housing’s Prime Lending Rate (PLR), which is, 15%.Shriram Housing Finance Home Loan EMI Calculator:
Evaluate the affordability of your home loan and determine the EMI amount you’re comfortable paying with the help of the Shriram Housing Finance home loan EMI calculator. This online tool only required you to provide information pertaining to your chosen home loan like loan amount, rate of interest applicable and term of your loan. Once these details have been filled in, the calculator will instantly display the EMI which you shall be required to pay towards your home loan.
Loan processing charges levied on this home loan will be stated in the beginning section of the Loan Sanction Letter.
The PLR for this home loan is currently set at 15%.
Yes, you may claim interest as a deduction under Section 24 of the Income Tax Act.
The borrower may claim interest up to Rs 1,50,000 or the amount of actual interest paid (whichever is lower).
Yes, you may claim principal up to a maximum amount of Rs 1,00,000 under Section 80C of the Income Tax Act.