Aadhar Housing Finance Home Loan

Highlights

  • See your eligibility for Aadhar housing finance home loan

  • Check whether or not Aadhar Housing Finance home loan suits your budget

About Aadhar Housing Finance Home Loan

Aadhar Housing Finance Ltd., a housing finance firm, thrives on enabling individuals from every walk of life to realise their home dream via attractive loan offers. It caters to customers with salary as modest as INR 5,000 per month. The salaried applicants for a home loan at Aadhar Housing Finance belong to grade III and IV government employees, private company employees, Railway employees, teachers, as well as police and defence forces. While the company’s list of self-employed home loan customers includes Kirana shop owners, small vendors, plumbers, carpenters, along with those who are involved in the business of garments, stationery, books, clothes, mobile and others.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

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    Aadhar Housing Finance Home Loan Interest Rates July 2020

    Interest rate is the first and foremost thing that an applicant looks at while applying for any kind of loan facility. Affordable interest rates automatically help you in the repayment of your loan. Higher the interest rates will be, the higher will be the EMI amount. The customized Aadhar Housing Finance Home Loan interest rates help ease your repayment burden.

    In the below table, we are providing some of the important details about Aadhar Housing Finance Home Loan. You can have a look!

    Loan AspectDetails
    Minimum Loan AmountCustomized
    Maximum Loan AmountINR 1,00,00,000 (Maximum 80% of the overall Property Cost)
    Rate of InterestCustomized
    Maximum Tenure30 years
    Processing Fees1.5% of the Loan Amount plus applicable GST
    Documentation FeeINR 2000 to INR 5,000 plus applicable GST

    What are the Features of Aadhar Housing Finance Home Loan?

    There are several benefits of Aadhar Housing Finance Home Loan that you can enjoy. These features make this facility one of the best home loan products in the market. We are mentioning some of the features below, take a look!

    • The home loan can be taken for a range of purposes such as home purchase, home construction, home improvement, home extension, and many others at competitive interest rates and in a hassle-free manner.
    • The Aadhar Housing Finance Home Loan can be taken by both salaried and self-employed individuals.
    • If you are worried about the monthly income eligibility for taking a home loan, let us tell you that even a salaried individual with an income of INR 5,000 per month can apply for this loan.
    • The loan amount can be a maximum of INR 1,00,00,000 but you need to remember that you can only get a maximum of 80% of the overall property value as the loan amount. Suppose, the value of your property is INR 50 lakh, then you can only get a loan amount of INR 40 lakh.
    • Aadhar Home Loans can be applied individually as well as jointly with a co-applicant. The co-applicant may be a co-owner of the property but it is important that all the co-owners of the property must be a co-applicant. You can make your spouse, children, or immediate relatives as your co-applicant.

    What are the details to be filled in Aadhar Loan Application Form?

    Below are the applicant’s details that are mandatory to be filled in the loan application form:

    1. Name
    2. Mother’s Name
    3. Father’s/Spouse Name
    4. Current Residential Address
    5. Mobile Number
    6. Email-ID
    7. Permanent Residential Address
    8. Date of Birth
    9. Marital Status
    10. Qualification
    11. Driving License
    12. PAN
    13. Applicant’s Occupational Details
    14. Applicant’s Financial Status
    15. Co-Applicant’s Details
    16. Co-Applicant’s Occupational Details
    17. Co-Applicant’s Financial Status
    18. Loan Requirement Details
    19. References
    20. Declaration
    21. Passport size photos
    22. Applicant’s Signature
    23. Co-Applicants Signature

    Check Your Eligibility for Aadhar Housing Finance Home Loan

    The eligibility criteria is subject to change from one profession to another is as follows:

    For Salaried Applicants

    • Maximum loan amount Eligibility – Upto 80% of the property value
    • Maximum loan tenure – Upto 20 Years or the retirement age of 60 years, whichever is earlier
    • Processing Fee – Up to 1.5% of the loan amount + GST
    • Mode of application – You can apply for an individual or joint home loan
    • Salaried employees from both public and private sectors are eligible for home loan

    For Self-employed Applicants

    • Maximum loan amount Eligibility – Upto 80% of the property value
    • Maximum home loan tenure – 20 years, but the tenure must not go beyond the applicant’s age of 65 years
    • Processing Fee – Up to 1.5% of the loan amount + GST
    • You can either be an individual home loan applicant or bring your spouse/any other family member under the applicant list

    Aadhar Housing Finance Home Loan Eligibility Calculator

    Aadhar Housing Finance offers you a home loan based on factors like monthly income, savings, property value, credit history, employment status or business stability. Let us understand the working of home loan eligibility calculator with help of an illustration. Assume you are working in a top-notch firm with a monthly salary of say INR 30,000. If we say, you spend 40% of your monthly income, then you end up with a savings of INR 18,000. Based on the savings, the eligibility calculator will arrive at the loan eligibility amount. While calculating the amount, the finance company will first compute the per lakh EMI based on the prevailing rate of interest and loan tenure.

    AspectDetails
    Loan AmountINR 1 lakh
    Loan Tenure 20 years
    Rate of Interest11%-14.50% per annum (Assumed)
    Per Lakh EMI AmountINR 1,032 to INR 1,180
    Home Loan Eligibility AmountINR 1 Lakh x 18,000/1,032 = INR 17.44 Lakhs
    INR 1 Lakh x 18,000/1,280 = INR 14.06 Lakhs
    Eligible Loan Amount RangeINR 14.06 lakh to INR 17.44 lakh

    Documents Required to Apply for Aadhar Housing Finance Home Loan

    The documents checklist for both salaried as well as self-employed applicants is mentioned in the below-given table.

    Documents Salaried Self-employed
    Photo ID Proof Voter ID/Passport/Aadhar Card/PAN Card/Driving License Voter ID/Passport/Aadhar Card/PAN Card/Driving License
    Address Proof Telephone Bill/Electricity Bill/Passport/Pass Book with Address/Ration Card/Bank Statement Telephone Bill/Electricity Bill/Passport/Pass Book with Address/Ration Card/Bank Statement
    Income Proof Last 3-month Salary Slip, Bank Statement/Pass Book for the Past 6 Months ITR for Last 3 Years along with Balance Sheet and Profit & Loss Account for the Last 3 Years Attested by a CA, Last 1-year Bank Statement, Tax Deduction Certificate (If Applicable), Partrnership Deed Copy (If Applicable), Tax Paid/Self-Assessment Tax Challan
    Company Profile In case you are working in a less known organization N.A.

    How can you calculate your home loan EMI?

    The EMI calculator is a simple tool to let you know the monthly installment payable on a home loan. The calculator computes the EMI based on loan amount, the tenure of loan and interest rate. So, if you wish to take a home loan of INR 15 lakhs at an interest rate of 11%-14.50% from Aadhar Housing Finance, you will have to pay the below-given amount from time to time.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 15,00,00012.45%1₹ 1,33,589₹ 1,03,070₹ 16,03,070
    ₹ 15,00,00012.45%2₹ 70,926₹ 2,02,220₹ 17,02,220
    ₹ 15,00,00012.45%3₹ 50,144₹ 3,05,201₹ 18,05,201
    ₹ 15,00,00012.45%4₹ 39,833₹ 4,11,983₹ 19,11,983
    ₹ 15,00,00012.45%5₹ 33,709₹ 5,22,526₹ 20,22,526
    ₹ 15,00,00012.45%6₹ 29,677₹ 6,36,779₹ 21,36,779
    ₹ 15,00,00012.45%7₹ 26,841₹ 7,54,680₹ 22,54,680
    ₹ 15,00,00012.45%8₹ 24,752₹ 8,76,158₹ 23,76,158
    ₹ 15,00,00012.45%9₹ 23,159₹ 10,01,134₹ 25,01,134
    ₹ 15,00,00012.45%10₹ 21,913₹ 11,29,518₹ 26,29,518

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 80,703₹ 1,82,248₹ 14,19,296
    2₹ 91,345₹ 1,71,606₹ 13,27,950
    3₹ 1,03,389₹ 1,59,562₹ 12,24,561
    4₹ 1,17,022₹ 1,45,930₹ 11,07,538
    5₹ 1,32,452₹ 1,30,500₹ 9,75,086
    6₹ 1,49,916₹ 1,13,035₹ 8,25,169
    7₹ 1,69,684₹ 93,267₹ 6,55,485
    8₹ 1,92,058₹ 70,894₹ 4,63,427
    9₹ 2,17,382₹ 45,570₹ 2,46,045
    10₹ 2,46,270₹ 16,907₹ 0

    Aadhar Housing Home Loan Balance Transfer and Top-up Loan Facility

    With the Aadhar Housing Home Loan, you can transfer your outstanding balance at lower interest rates provided by Aadhar Housing. This facility can be a best option for individuals struggling to pay their existing loan due to the high-interest rates. With this facility, you will be allowed to transfer your existing loan amount to the Aadhar Housing Home Loan. Your EMIs will be a lot lower and you will be able to repay the loan amount easily.

    Also, suppose you require urgent funds for some personal purposes, you can opt for the Top-up facility on the Home Loan taken from Aadhar Housing. Even if your home loan facility is from any other lender, you can avail of the Top-up loan from the Aadhar Housing. The lender will check your repayment track, and according to that, your top-up loan amount will be decided.

    Latest Update

    Recently, DHFL Vysya Housing Finance Ltd. has merged with Aadhar Housing Finance.

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