SEWA Housing Finance

Last Updated : Sept. 7, 2018, 12:39 p.m.

About SEWA Housing Finance

SEWA Grih Rin Limited has emerged itself for the sake of extending the support to social-welfare groups, aiming to bridge the gap in availing housing loans among the poor. SEWA Housing Finance focuses towards fulfilling the housing need of low-income families by offering suitable loan products, keeping in view the various housing financial needs of the poor women and their families involved in the informal sector.
Rural masses opt for SEWA Housing Finance loans for the following purposes:

• For Purchasing a new house
• For Constructing a new house on an acquired plot
• For doing expansion (incremental upgrade) in their existing house
• For making improvement & Renovation of their existing house.

SEWA Housing Finance Eligibility Criteria

SEWA Housing Finance Eligibility Calculator

Assess your eligibility online by using the eligibility calculator. The eligibility calculator reveals your worthiness for availing home loans which depends on the specified criteria. The underlying criteria as discussed below :

• Your monthly income
• Tenure
• Expected interest rate
• Existing Liabilities

Suppose you are working in a reputed export house company and earning a monthly salary of Rs. 50,000. Out of which, you have decided to save Rs. 10,000 for repaying it towards your EMI. Ideally, EMIs fall in the range of 50%-60% of your net salary for disseminating the higher amount of loan.

Get to know your EMIs by submitting the specified criteria details listed above. In this manner, ascertained EMI every month will help you repaying your loan amount that you are eligible for.

Amount- Rs. 1,00,000

Rate of Interest-18% p.a.

Loan Tenure-20 Years

Per Lac EMI- Rs.1,543

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

– Rs. 100,000 x 10,000/1543= Rs.6.48 lacs(approx.)

So, the expected home loan amount from SEWA Home Loan amounts to Rs. 6.48 lacs (approx.)

SEWA Housing Finance EMI Calculator

Home loan decisions are very critical. They are usually based on estimated Equated Monthly Installments(EMI’s) payable on your home loan each year. In order to know the best approximation for this financial decision, use a Home loan calculator.

With Home loan EMI calculator, you will be able to know about approximate figures for the total payments due along with a break-up of the Home Loan repayment process. The calculations made is based on the loan tenure as well as the interest rates that are applicable on the same.

Moreover, you can also derive an accurate result about the ratio of the principal amount to the interest due, subject to the effect of the Home Loan tenure and interest rates.

You can also analyze an amortization table with the help of EMI Calculator to plan your repayment schedule carefully.

For example : You are an IIT Professor based out in Delhi, earning Rs. 1,00,000 p.m. You have applied for a home loan of Rs. 8 lakhs to be payable at an interest rate 18% after 20 years. The following table describes your monthly EMI along with interest and the total amount going each year as your settlement done against your home loan.

Table showing EMI, interest outgo and total amount payable on your home loan

Amortization Table

Documentation for SEWA Housing Finance

Features and Benefits of SEWA Housing Finance

• Attractive Interest Rates
• Credit assessment to be done on the basis of documented as well as non-documented incomes.
• Borrowers have the provision of including guarantors.
• Quick Approval
• No hidden costs

SEWA Housing Finance Customer Care Contact Number

Facing a lack of clarity in knowing about the availability of home loans? Just speak to an experienced customer care representative on : 1800-11-3909(Toll-free number)/011-45793909/011-25714572 and clear all your doubts and queries. Moreover, you can also bring your queries in immediate action by writing an email at the email address mentioned on the website.