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See your eligibility for Aadhar housing finance home loan
Check whether or not Aadhar Housing Finance home loan suits your budget
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
Table of Contents
- 1 About Aadhar Housing Finance Home Loan
- 2 Aadhar Housing Finance Home Loan Interest Rate
- 3 What are the details to be filled in Aadhar Loan Application Form?
- 4 What are the documents required to apply for Aadhar Housing Finance Home Loan?
- 5 Check Your Eligibility for Aadhar Housing Finance Home Loan
- 6 How can you calculate your home loan EMI?
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 ₹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.
Aadhar Housing Finance Home Loan Interest Rate
The interest rate for home loans ranges from 11% per annum to 14.50% per annum. Also, the processing fee applicable to the loan is 1.5% of the loan amount. The maximum tenure for which the loan can be taken is 20 years.
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:
- Mother’s Name
- Father’s’/Spouse Name
- Current Residential Address
- Mobile Number
- Permanent Residential Address
- Date of Birth
- Marital Status
- Driving License
- Applicant’s Occupational Details
- Applicant’s Financial Status
- Co-Applicant’s Details
- Co-Applicant’s Occupational Details
- Co-Applicant’s Financial Status
- Loan Requirement Details
- Passport size photos
- Applicant’s Signature
- Co-Applicants’ Signature
What are the 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.
|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.|
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
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 ₹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 EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 15,00,000 12.45% 1 ₹ 1,33,589 ₹ 1,03,070 ₹ 16,03,070 ₹ 15,00,000 12.45% 2 ₹ 70,926 ₹ 2,02,220 ₹ 17,02,220 ₹ 15,00,000 12.45% 3 ₹ 50,144 ₹ 3,05,201 ₹ 18,05,201 ₹ 15,00,000 12.45% 4 ₹ 39,833 ₹ 4,11,983 ₹ 19,11,983 ₹ 15,00,000 12.45% 5 ₹ 33,709 ₹ 5,22,526 ₹ 20,22,526 ₹ 15,00,000 12.45% 6 ₹ 29,677 ₹ 6,36,779 ₹ 21,36,779 ₹ 15,00,000 12.45% 7 ₹ 26,841 ₹ 7,54,680 ₹ 22,54,680 ₹ 15,00,000 12.45% 8 ₹ 24,752 ₹ 8,76,158 ₹ 23,76,158 ₹ 15,00,000 12.45% 9 ₹ 23,159 ₹ 10,01,134 ₹ 25,01,134 ₹ 15,00,000 12.45% 10 ₹ 21,913 ₹ 11,29,518 ₹ 26,29,518 Year Principal Interest Balance 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
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Is there any calculator for eligibility?
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 ₹30,000. If we say, you spend 40% of your monthly income, then you end up with a savings of ₹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.
Amount- ₹1 lakh
Loan Tenure-20 years
Rate of Interest- 11%-14.5% per annum
Per Lac EMI-₹1,032-1,280
Home Loan Eligibility Amount-₹1 Lakh x 18,000/1,032= ₹17.44 Lakhs
-₹1 Lakh x 18,000/1280= ₹14.06 Lakhs
So, the eligibility amount falls in the range of ₹14.06 lakhs-17.44 lakhs
Recently, DHFL Vysya Housing Finance Ltd. has merged with Aadhar Housing Finance.