HBN Housing Finance Home Loan
Last Updated : April 4, 2017, 5:49 p.m.
About HBN Housing Finance Home Loan
Buying a home is one of the biggest financial investments you may make in your lifetime. Although it carries sentimental value but overall the amount of money that sinks into acquiring your dream home puts the burden in actively managing your home loans. In pursuance of your dreams, HBN Housing Finance Limited comes up with home loans as its offering to fulfill the requirements of housing finance of the low and middle-income segment of the society. However, housing loans are provided under its schemes for Houses for Individuals, Loan against property, Repairs/Renovation for existing buildings and non-residential buildings.
HBN Housing Finance Home Loan Eligibility Criteria
- Home loans are provided to a salaried employee, self-employed professionals and businessmen.
- The tenure for providing home loan is for a maximum period of 20 years, as long as the tenure does not extend beyond reaching the age limit of 60 years or retirement age, whichever is earlier.
- The minimum amount for a home loan is ₹1 lakh to a maximum limit of ₹1 crore, under, special circumstances some relaxation is granted on the maximum amount.
- Only fixed rate of interest is being charged on the home loan.
- The loan amount is ascertained on the basis of repayment capacity of the applicant taking into consideration your account, income, age, the stability of occupation, assets, and liabilities.
- Home loans are offered in the range of ₹3 lakhs to ₹25 lakhs.
- Attractive interest rates up to 80% of property valuation.
- Longer tenor of up to 15 years.
- Insurance provided on your home loan.
HBN Housing Finance Home Loan EMI Calculator
With the help of HBN Housing Finance Home Loan EMI Calculator , calculate your monthly repayment amount that you have to incur on your Home Loan. Just enter the principal home loan amount you wish to take, duration of the loan and expected interest rate in the respective areas will instantly give you a fair idea of monthly outflow that will contribute towards your home loan repayment.
For example, you are a salaried employee working for a cooperative sector Bank earning ₹35,000 p.m. You want to buy a property in Naraina, Delhi and have applied for a home loan of ₹25 lakhs payable after 15 years at varying interest rates 9.95%-10.40%. You wish to know the total equated monthly installments along with the interest amount that will outgo towards home loan. The following table discloses the calculated EMI, interest payment and the total amount (EMI+Interest) required to be paid each year on your home loan.
Table showing EMI, interest outgo and total amount payable on your home loan
| Loan Amount (in ₹) | Loan Tenure(in years) | Interest Rate(% p.a) | EMI(in ₹) | Total Interest Outgo(in ₹) | Total Amount(EMI+Interest)(in ₹) |
|---|---|---|---|---|---|
| 25,00,000 | 1 | 9.95%-10.40% | 2,19,732- 2,20,255 | 1,36,779- 1,43,061 | 26,36,779- 26,43,061 |
| 25,00,000 | 2 | 9.95%-10.40% | 1,15,305- 1,15,824 | 2,67,311- 2,79,786 | 27,67,311- 27,79,786 |
| 25,00,000 | 3 | 9.95%-10.40% | 80,609- 81,138 | 4,01,935- 4,20,978 | 29,01,935- 29,20,978 |
| 25,00,000 | 4 | 9.95%-10.40% | 63,346- 63,888 | 5,40,629- 5,66,614 | 30,40,629- 30,66,614 |
| 25,00,000 | 5 | 9.95%-10.40% | 53,056- 53,611 | 6,83,368- 7,16,659 | 31,83,368- 32,16,659 |
| 25,00,000 | 6 | 9.95%-10.40% | 46,252- 46,820 | 8,30,114- 8,71,073 | 33,30,114- 33,71,073 |
| 25,00,000 | 7 | 9.95%-10.40% | 41,438- 42,021 | 9,80,826- 10,29,805 | 34,80,826- 35,29,805 |
| 25,00,000 | 8 | 9.95%-10.40% | 37,869- 38,467 | 11,35,453- 11,92,794 | 36,35,453- 36,92,794 |
| 25,00,000 | 9 | 9.95%-10.40% | 35,129- 35,740 | 12,93,939- 13,59,974 | 37,93,939- 38,59,974 |
| 25,00,000 | 10 | 9.95%-10.40% | 32,969- 33,594 | 14,56,220- 15,31,270 | 39,56,220- 40,31,270 |
| 25,00,000 | 11 | 9.95%-10.40% | 31,229- 31,868 | 16,22,229- 17,06,601 | 41,22,229- 42,06,601 |
| 25,00,000 | 12 | 9.95%-10.40% | 29,805- 30,457 | 17,91,890- 18,85,879 | 42,91,890- 43,85,879 |
| 25,00,000 | 13 | 9.95%-10.40% | 28,623- 29,289 | 19,65,123- 20,69,011 | 44,65,123- 45,69,011 |
| 25,00,000 | 14 | 9.95%-10.40% | 27,630- 28,309 | 21,41,845- 22,55,897 | 46,41,845- 47, 55,897 |
| 25,00,000 | 15 | 9.95%-10.40% | 26,789- 27,480 | 23,21,967- 24,46,434 | 48,21,967- 49,46,434 |
Amortization Table
| Year | Principal(in ₹) | Interest(in ₹) | Balance Amount (in ₹) |
|---|---|---|---|
| 1 | 73,184- 76,127 | 245,341- 256,576 | 2,423,873- 2,426,816 |
| 2 | 81,168- 84,057 | 237,411- 248,592 | 2,339,816- 2,345,648 |
| 3 | 90,024- 92,813 | 228,655- 239,736 | 2,247,003- 2,255,624 |
| 4 | 99,845- 102,481 | 218,987- 229,915 | 2,144,522- 2,155,779 |
| 5 | 110,738- 113,155 | 208,313- 219,022 | 2,031,367- 2,045,041 |
| 6 | 122,821- 124,944 | 196,524- 206,939 | 1,906,423- 1,922,220 |
| 7 | 136,223- 137,958 | 183,510- 193,537 | 1,768,465- 1,785,997 |
| 8 | 151,083- 152,328 | 169,140- 178,677 | 1,616,137- 1,634,914 |
| 9 | 167,567- 168,196 | 153,272- 162,193 | 1,447,941- 1,467,347 |
| 10 | 185,717- 185,848 | 135,751- 143,912 | 1,262,224- 1,281,499 |
| 11 | 205,059- 206,127 | 116,409- 123,633 | 1,057,165- 1,075,372 |
| 12 | 226,421- 228,614 | 95,047- 101,146 | 830,744- 846,758 |
| 13 | 250,008- 253,558 | 71,460- 76,202 | 580,736- 593,200 |
| 14 | 276,049-. 281,222 | 45,419- 48,538 | 304,687- 311,978 |
| 15 | 304,906- 312,215 | 16,665- 17,856 | 0 |
Documentation for HBN Housing Finance Home Loan
Following documents are required from a salaried employee:
- 3 months salary slip
- Last 6 months bank statements
- Form 16 of the last two years
Following documents are required from a self-employed person:
- Last 3 years Balance sheet
- Statement of Profit & loss account
- Computation of income & IT Return attested by CA.
- Certificate of practice (if applicable)
- Latest one-year bank statement
Business Profile Property Documents:
- Photocopies of a complete chain of legal documents of property.
Features and Benefits of HBN Housing Finance Home Loan
- Quick and easy processing of home loans
- Attractive interest rates
- Hassle free documentation
- Interest payable on used loan amount only
- Insurance availed on your Home/Construction Loan.
- Counselors visit at customer ease.
- Doorstep delivery and pick up of documents
HBN Housing Finance Home Loan Customer Care Contact Number
Are you stumbled upon knowing whether you could be granted a home loan? Or facing any difficulties regarding missing documents or low-income profile applicant filing for a home loan. Do you wish to have re-structurization in your EMI composition? Feel free to discuss your relevant queries with an experienced customer care representative of HBN Housing Finance by calling on 011-25260122/011-49691200/ 011-64513668. You can also write an email, describing your issues, grievances or any other concern on the email ID mentioned on the website.
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