Shriram Housing Finance Limited - 8.50% for Home Loan - New Purchase Home Loan

Shriram Housing Finance Limited is a large HFC with the lowest home loan percentage rate in India.

Currently, the Bank Offers home loans starting with the 8.50%*onwards with quick approval.

Home Loan in Shriram Housing Finance Limited is quite popular with its special features and attractive rates under the various Shriram Housing Finance Limited home loan schemes for the different occupations and income groups.

Interest Rate	8.50%*onwards
Loan Amount	Up to Rs.10 Crore
Loan Tenure	Up to 25 Years
Processing Fee	Up to 1.5% of loan amount + GST

 

Some of the key features of Shriram Housing Finance Limited:

1. High loan amount availability

2. Tax benefit under Sections 24 and 80C of the Income Tax Act

3. Quick approval

4. Wide range of home loan products

5. Simplified documentation

6. Balance transfer facility

7. Up to 25 years of repayment time

 

Shriram Housing Finance Limited  Home Loan interest depends upon:

1. Loan amount:

Shriram Housing Finance Limited Home Loan depends upon the loan amount you apply for  Higher the loan amount, the lesser will be the rate.       

 

2. Your Salary: 

 Income helps you in identifying your rate of interest.

 Bank's rate varies with your monthly income. The higher the income, the lesser will be the rate.

 

3. Type of loan opted for: 

 Shriram Housing Finance Limited Home Loan offers differential rates for women borrowers. 

 also under their fixed and floating rate schemes.

 The rate of interest may be higher or lower under their special or popular loan product offers.

 

4. Existing bank customers:  

Shriram Housing Finance Limited  Home Loan offers one of the lowest home loan rates to its existing bank account.

 customers have given their past relationship with the bank.

 

Shriram Housing Finance Limited - Home Loan Processing Fee and Other Charges:

In addition to interest rates, home loans from Shriram Housing Finance Limited Home Loan also carry some other charges which include:

1. Processing Fee :

Shriram Housing Finance Limited  Home Loan applies processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.

 

 2. Technical and Legal Charges :

Shriram Housing Finance Limited Home Loan also charges technical and legal charges which are explained to the customer during the loan process.

Once you go through the loan application process, you will need to pay these charges based on Shriram Housing Finance Limited  Home Loan Bank rules.

 

 3. Prepayment Charges:

If you decide to foreclose or transfer your housing loan to another bank, you need to submit an application for the same to Shriram Housing Finance Limited Home Loan.

 As per RBI rules, banks are not allowed to charge prepayment penalties on floating-rate home loans.

Hence, you can prepay your home loan with Shriram Housing Finance Limited  Home Loan at Nil charges.

 

Shriram Housing Finance Limited  Home Loan:

Apply:

If you want to get a housing loan from Shriram Housing Finance Limited  Home Loan, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, and ICICI.

Your loan application will be processed online and Shriram Housing Finance Limited Home Loan’s representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com  personal housing loan advisor to ensure that the lending process is smooth and quick and you get the best house loan from Shriram Housing Finance Limited Home Finance Home Loan.

You can also do a comparison of Shriram Housing Finance Limited  Home Loan Interest rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your home loan application in your customer account section of Apnarupee.com.

 

Shriram Housing Finance Limited Home Loan Documents:

For Salaried employees:

1. Filled up the loan application form.

2. Passport Size Photo.

3. ITR of the last 2 years.

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

For Self-Employed:

1. Filled up the loan application form.

2. Two Passport Size Photo.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport

5. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA,

copy of partnership deed and proof of business existence and business profile

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

 

Shriram Housing Finance Limited Home Loan Schemes:

1. Regular Home Loan

This is a regular home loan scheme that is available to all eligible salaried and self-employed individuals who need financial support to buy a house.

A borrower can avail of a home loan from Shriram Housing Finance either to purchase a ready-to-move new bungalow/apartment or an under-construction or resale property.

 

2. Residential Plot Loan

This scheme is available to both salaried and self-employed individuals who are looking for funds to purchase a plot and construct a house thereon.

This loan can be availed by the borrower to construct a building on a residential property. The loan amount is offered by the company to buy a piece of land for constructing one’s dream home.

 

3. Home Improvement Loan

This scheme is available to customers looking for funds to redesign or renovate their existing house.

The scheme is available to both new and existing customers.

 

4. Home Extension Loan

This scheme is suitable for customers who wish to extend or add additional space to their homes.

The scheme is available to both new and existing customers.

5. Balance Transfer

This scheme is available to new customers who wish to move their home loan account from another HFC to Shriram Housing Finance.

Additional Top-Up Loan is also available under this scheme.

 

6. Top-Up Loan

This scheme is available to existing home loan customers looking for funds to meet additional personal or business expenses.

 

Frequently Asked Questions:

 

Q. What documents are required for a home loan from Shriram Housing Finance Limited?

Ans. To apply for Shriram Housing Finance Limited Home Loan, you are required to submit Shriram Housing Finance Limited home loan documents such as an application form with

attested photographs along with various other documents such as identity proof, bank statement, and resident proof, property papers and loan account statements if any.

 

Q. How can I increase my chances of getting a higher loan amount?
Ans. You can increase your chances of getting a higher loan amount by adding earning co-applicants to your home loan.

Adding a woman as a co-applicant also helps in getting a better interest rate.

 

Q. Who are eligible to become co-borrowers for this loan?

Ans. The co-owners of the property for which you are applying for the loan can be the co-borrowers.

However, the co-applicants should be your blood relatives and should be ideally mother-son, father-son, and husband-wife.