India Shelter Finance Home Loan

About India Shelter Finance Home Loan

India Shelter Finance Corporation Limited offers credit to middle-income households to acquire new housing or to extend and improve their current housing. It aims to improve the quality of living standards of middle-income families by providing affordable home loans. The company provides home loan for an amount up to ₹20 lakhs at varying interest rates 11.75%-22% p.a. for a tenure up to 20 years.Now people have a chance of reviving their hopes of getting their own homes in their lifetime.

Home Loan

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

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    Home loans are available for the following purposes:

    • Purchase of property
    • Purchase of Plot
    • Acquisition of property for Self-Construction
    • Adding additional rooms
    • Putting up an additional floor to an existing floor.
    • Internal or external repairs to existing homes.

    India Shelter Finance Home Loan Eligibility Criteria

    • Family members and co-owners of the property are entitled to home loans.
    • The loan tenure for a home loan is 20 years.
    • The minimum amount for a home loan is ₹2.50 lakhs and the maximum amount is Rs. 20 lakhs.
    • Eligibility for receiving the loan is determined by an appraisal of your documents and a personal discussion.
    • Security can be mortgaged for home loans and that would comprise of submitting the title deeds for availing mortgage equivalent of the property being financed.

    India Shelter Home Loan Interest Rate

    ParticularsDetails
    Interest Rate11.75% to 22%
    Processing Fee2%-3%

    India Shelter Finance Home Loan EMI Calculator

    EMI Calculator is easy to use and quick to calculate. By using India Shelter Finance Home Loan EMI Calculator, one can relatively estimate the monthly EMI payable against the home loan applied for. Just enter the following details in the EMI Calculator as:

    • Loan Amount (in ₹Lakh)
    • Number of Months
    • Interest Rate (in %)

    You may derive the calculated EMI value to be payable on your home loan.

    For example, you wish to buy your dream house in your hometown. You have applied for a home loan of ₹20,00,000 to be payable after 15 years at varying interest rates 11.75%-22%. You wanted to know your monthly installment paid each year along with the interest outgo. Below table gives you the details about EMI amount, in addition to the interest payable every year and also the total amount of expenses made every year.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 20,00,0008.35%1₹ 1,74,301₹ 91,608₹ 20,91,608
    ₹ 20,00,0008.35%2₹ 90,774₹ 1,78,580₹ 21,78,580
    ₹ 20,00,0008.35%3₹ 62,996₹ 2,67,862₹ 22,67,862
    ₹ 20,00,0008.35%4₹ 49,155₹ 3,59,444₹ 23,59,444
    ₹ 20,00,0008.35%5₹ 40,889₹ 4,53,318₹ 24,53,318
    ₹ 20,00,0008.35%6₹ 35,409₹ 5,49,467₹ 25,49,467
    ₹ 20,00,0008.35%7₹ 31,522₹ 6,47,875₹ 26,47,875
    ₹ 20,00,0008.35%8₹ 28,630₹ 7,48,522₹ 27,48,522
    ₹ 20,00,0008.35%9₹ 26,402₹ 8,51,384₹ 28,51,384
    ₹ 20,00,0008.35%10₹ 24,637₹ 9,56,437₹ 29,56,437
    ₹ 20,00,0008.35%11₹ 23,209₹ 10,63,652₹ 30,63,652
    ₹ 20,00,0008.35%12₹ 22,035₹ 11,72,998₹ 31,72,998
    ₹ 20,00,0008.35%13₹ 21,054₹ 12,84,442₹ 32,84,442
    ₹ 20,00,0008.35%14₹ 20,226₹ 13,97,948₹ 33,97,948
    ₹ 20,00,0008.35%15₹ 19,519₹ 15,13,480₹ 35,13,480

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

    YearPrincipalInterestBalance Amount
    1₹ 69,865₹ 1,64,366₹ 19,30,134
    2₹ 75,928₹ 1,58,304₹ 18,54,206
    3₹ 82,516₹ 1,51,716₹ 17,71,689
    4₹ 89,676₹ 1,44,556₹ 16,82,013
    5₹ 97,457₹ 1,36,774₹ 15,84,556
    6₹ 1,05,914₹ 1,28,318₹ 14,78,641
    7₹ 1,15,104₹ 1,19,128₹ 13,63,537
    8₹ 1,25,092₹ 1,09,140₹ 12,38,445
    9₹ 1,35,946₹ 98,286₹ 11,02,498
    10₹ 1,47,742₹ 86,489₹ 9,54,756
    11₹ 1,60,562₹ 73,670₹ 7,94,193
    12₹ 1,74,494₹ 59,737₹ 6,19,699
    13₹ 1,89,635₹ 44,596₹ 4,30,063
    14₹ 2,06,090₹ 28,142₹ 2,23,973
    15₹ 2,24,107₹ 10,259₹ 0

    Documentation for India Shelter Finance Home Loan

    • Application form with photograph duly signed by all applicants of home loan.
    •  Identity proof – Voter ID, PAN, Driving License, Bank Passbook, Aadhaar card etc.
    • Age proof – Voter Id, PAN, Driving Licence, Passport, Birth certificate, pass certificate of 10th or 12th
    • Property documents
    • Colored passport size photograph
    •  Last 3 months salary slips
    •  Income Tax Returns of the last 2 years or Business Records
    • LIC Policy
    • FD or RD
    • Details of any other loan account that you are replaying currently
    • Any other savings or investment details

    Features and Benefits of India Shelter Finance Home Loan

    • Loan approval within 7 days
    • Easy monthly repayment schedule
    • Assistance on phone available at local call rates in Hindi and English
    • All day customer support
    • Availability of ₹3-25 Lakh loan
    • Home loans are available at a fixed rates. That means that the EMIs don’t differ with the volatility in the market or a change in the interest rates.
    • Repayment of loan can be made by using any of the electronic means -ECS/DDM/ACH.
    • Loans without proof of income documents
    • Availability of One-Window Clearance facility
    • No DSA or Agent to deal with

    India Shelter Finance Home Loan Customer Care Contact Number

    Feeling perplexed in understanding about your EMI calculations or want to reduce the installment of your EMI or want to extend your tenure for repayment of your home loan. Any queries associated like this towards your home loan can be very well answered by an experienced customer care representative of India Shelter Finance Corporation Limited. Call on: 1800-532-4444 (Toll-free number) or +91 12441 31800 or put forward your queries or grievances( if any) over email at the email address mentioned on the website.

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    EMI Calculator