Shriram Housing Finance Home Loan

Last Updated : April 28, 2017, 1:25 p.m.

About Shriram Housing Finance Home Loan

Thinking about buying a home? For some, it may be a challenging task whereas for others it will be the major decision of life.However, it feels great when you get a possession of your dream home. Keeping this in view, Shriram Housing Finance Limited can just be the medium to offer suitable home loans. Whether it’s the purchase of a new home, resale property or an under-construction home, the housing finance company has custom home loan offers to pursue varied needs of the individuals. The company offers various innovative mortgage products to provide financial assistance to prospective homeowners who remain underserved even today.

Shriram Housing Finance Home Loan Interest Rates

Salaried and Self-employed professionals are allowed to avail Shriram Home Loan depending on their personal eligibility criteria evaluated by Shriram Housing Finance Ltd.

Shriram Housing Finance Home Loan EMI Calculator

Now you can estimate how much loan amount you are comfortable in paying towards your home loan. With the help of Shriram Housing Finance home loan EMI Calculator , you can easily determine the EMI. This online tool will ask you for details such as loan amount, the rate of interest applicable and term of your loan for you to enter. Once these details have been filled in, the calculator will automatically display the EMI which you shall be required to pay towards your home loan.

For example: You can check below the table to find the EMIs and other payments accruing to your proposed loan.

Documents Required for Shriram Housing Finance Home Loan

Below are the documents required at the time of applying for housing loan.

Shriram Housing Finance Contact Number

For any queries or grievances, you can contact your nearest Shriram Housing Finance Ltd. branches and offices.  Alternatively, you can contact on 1800-102-4345 or write an email at the email address mentioned on the website.

Shriram Housing Finance Branch Locator

Shriram Housing Finance Home Loan Eligibility Calculator

Post knowing the eligibility criteria and other details like interest rates, maximum loan amount and processing fee, it’s time to check out the amount of loan you can get from Shriram Housing Finance. What will help you here is the hassle-free home loan eligibility calculator of the company? The calculator will provide you the accurate estimate of your home loan. Just enter the basic details such as your monthly income, your fixed monthly obligation, your current age, your retirement age etc and submit the same. The result will show your affordability towards your home loan.

Suppose you are working in an MNC and earning a monthly salary of Rs. 55,000. Out of which, you wish to save Rs. 10,000 for repaying it towards your EMI.

The lenders, before disbursing the loan, make sure the proposed EMIs do not go beyond the level of 50%-60% of your net income. If the said EMIs fall within the range or below, you could get a desired loan amount to buy your dream home. However, in the absence of the same, the loan amount disbursal may be lesser.

Initially, the calculator will perform the operation of arriving at per lac EMI. Want to know the calculation of the same? It will be calculated based on the interest rate and maximum tenure of the loan. Below is a calculation of per lac EMI.

Amount- Rs. 1,00,000

Rate of Interest-15% p.a.

Loan Tenure-20 Years

Per Lac EMI- Rs. 1317

Loan Amount Eligibility- Rs. 100,000 x savings/per lac EMI

– Rs. 100,000 x 10,000/1317= Rs. 7.59 lacs(approx.)

So, the expected home loan amount from Shriram Housing Finance Home Loan amounts to Rs. 7.59 lacs(approx.)

Features and Benefits of Shriram Housing Finance  Home Loan

• Availability of flexible schemes for an informal segment for calculating loan eligibility e.g. Self-employed segment is exempted from submitting the income proofs, while a special scheme is in place for informal salaried segment.
• Part-payment or pre-closure of loans are free of any charges.
• You can take over any existing loan with additional finance to serve personal purposes such as higher education, marriage, medical emergency and others.
• You are free from any hidden charges.
• Extensive branch network with a presence in 16 states & one union territory of India.
• Property risk & mortality risk are taken care of through the company’s collaboration with third-party insurers.