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GRUH Housing Finance Home Loan

GRUH Housing Finance Home Loan

Last Updated : March 27, 2017, 6:40 p.m.

About GRUH Housing Finance Home Loan

Buying a home is one of the biggest decisions in life. Also, it carries anxiety and frustration in gathering insights but ends up with a huge sense of accomplishment. With the sky-rocketing property prices, it becomes tedious to buy a home through your savings entirely. So one has to focus on home loan as a reliant option for pursuing your dream home.

Normally, a home loan is preferred to be one of the biggest liabilities, considering the huge sums involved and the long tenure associated towards repayment of your loans. However, home loans still enjoy the prestige within itself as one of the financial product on offer.

GRUH Finance Home Loan is one such product offered by GRUH Finance Limited, a subsidiary of HDFC Ltd., a housing finance company (HFC) identified by National Housing Bank which accompanies your housing finance needs. The company offers housing loans for diverse purposes like construction, purchase, repair of residential units, renovation etc. In addition to purposes, GRUH Finance Home Loan also offers the following products as under:

  • GRUH Suraksha
  • GRUH Suvidha
  • GRUH Sajavat
  • GRUSH Samruddhi

Gruh Finance Home Loan Interest Rates

Loan ProductInterest Rate Band (p.a.)
Suraksha (Monthly Variable)*8.35%-14.25%

You can check your CIBIL score by PAN card for free as well.

What is the eligibility criteria for Gruh Home Loans?

  • GRUH considers factors such as applicant’s/co-applicant’s income, age, the stability of income, savings, assets, and liabilities etc while ascertaining the repayment capacity and thereby the loan amount.
  • GRUH offers home loans to salaried individuals, business segments as well as self-employed individuals.
  • The maximum tenure of the loan is 30 years subject to the age limit for all loans excluding GRUH Sajavat wherein the maximum tenure is 15 years.
  • GRUH has implemented its own Credit Score Model wherein each individual customer is evaluated on the basis of 22 credit parameters covering the particulars of income, family, assets, liabilities, saving and asset creation tendencies etc.

How can you check your EMI?

Don’t be deterred by the bugbear of EMI (Equated Monthly Installments) relating to the complexities involved? Relieve yourself of going through the lengthy and difficult methods employed for calculating the monthly repayment amount with GRUH Finance Home Loan EMI Calculator.

This simple, user-friendly tool design will give you instant results with an approximate value of the monthly EMI on your Home Loan.

The following table gives you an example if you take the loan as per the data mentioned here.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

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

Year Principal Interest Balance Amount
1 ₹ 43,526 ₹ 1,55,445 ₹ 14,56,472
2 ₹ 48,323 ₹ 1,50,648 ₹ 14,08,149
3 ₹ 53,649 ₹ 1,45,323 ₹ 13,54,499
4 ₹ 59,561 ₹ 1,39,410 ₹ 12,94,938
5 ₹ 66,125 ₹ 1,32,846 ₹ 12,28,812
6 ₹ 73,412 ₹ 1,25,559 ₹ 11,55,399
7 ₹ 81,503 ₹ 1,17,469 ₹ 10,73,896
8 ₹ 90,485 ₹ 1,08,487 ₹ 9,83,411
9 ₹ 1,00,456 ₹ 98,515 ₹ 8,82,954
10 ₹ 1,11,527 ₹ 87,444 ₹ 7,71,427
11 ₹ 1,23,818 ₹ 75,154 ₹ 6,47,609
12 ₹ 1,37,463 ₹ 61,508 ₹ 5,10,145
13 ₹ 1,52,612 ₹ 46,359 ₹ 3,57,533
14 ₹ 1,69,430 ₹ 29,541 ₹ 1,88,102
15 ₹ 1,88,246 ₹ 10,869 ₹ 0

What are the documents required for GRUH Home Loan?

  • Signed application form with photograph
  • ID and residence proof
  • Processing fee cheque
  • Last 6 months bank statements
  • Last 3 months salary slips (for salaried)
  • Form 16 or Income Tax Returns (for salaried)
  • Education qualification certificate & proof of business existence (for self-employed)
  • Last 3 years Income Tax Returns with computation of Income (for self-employed)
  • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account (for self-employed)
  • VAT/ service tax registration
  • Business address proof
  • Incorporation details in case of companies
  • Statement of profit and loss account
  • Statement of balance sheets verified by Chartered Accountant
  • Copy of partnership deed
  • Proof of business existence and business profile

Features and Benefits of GRUH Finance Home Loan

  • Strong service delivery model—fast approval and disbursal of loans
  • Vast range of Home Loan requirements
  • Customized home loan features to accommodate your Home loan necessities.
  • Quick and transparent processing.
  • Attractive interest rates: offering affordable attractive rates for you to comfortably buy your home
  • Long tenure for smaller EMIs

What is the GRUH Finance Contact Number?

If you have any difficulties regarding processing of your home loan, unavailability to produce any document for evidence or any other issues or grievances, contact an experienced customer care representative of GRUH Finance Limited on : 1800 233 5300(Toll free number)/ +91-079-32901222-1223/ +91-079-32911539/ +91-079-26421672-74 or write an email at email address provided on the website.

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