Shriram Housing Finance Home Loan

Home Loan

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

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    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.

    Particulars Description
    Interest Rates  15% p.a.
    Loan Amount From Rs. 1 lakh to Rs. 75 lakhs
    Tenure 20 years
    Age criteria > 21 years and < 65 years
    Processing Fees                                       As per the preceding section of the Sanction Letter
    Pre-payment or Foreclosure FeeIndividual Borrowers – Nil
    Non Individual borrowers/co-borrowers – 2.00% of the balance outstanding at the time of foreclosure or 2.00% of the part prepayment amount.
    Loan to Value 80% of the property value

    Interest Rate Comparison Tool

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    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.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 75,00,00015%1₹ 6,76,937₹ 6,23,248₹ 81,23,248
    ₹ 75,00,00015%2₹ 3,63,650₹ 12,27,597₹ 87,27,597
    ₹ 75,00,00015%3₹ 2,59,990₹ 18,59,639₹ 93,59,639
    ₹ 75,00,00015%4₹ 2,08,731₹ 25,19,069₹ 1,00,19,069
    ₹ 75,00,00015%5₹ 1,78,424₹ 32,05,469₹ 1,07,05,469
    ₹ 75,00,00015%6₹ 1,58,588₹ 39,18,307₹ 1,14,18,307
    ₹ 75,00,00015%7₹ 1,44,726₹ 46,56,955₹ 1,21,56,955
    ₹ 75,00,00015%8₹ 1,34,591₹ 54,20,692₹ 1,29,20,692
    ₹ 75,00,00015%9₹ 1,26,933₹ 62,08,713₹ 1,37,08,713
    ₹ 75,00,00015%10₹ 1,21,001₹ 70,20,146₹ 1,45,20,146
    ₹ 75,00,00015%11₹ 1,16,319₹ 78,54,058₹ 1,53,54,058
    ₹ 75,00,00015%12₹ 1,12,566₹ 87,09,469₹ 1,62,09,469
    ₹ 75,00,00015%13₹ 1,09,522₹ 95,85,363₹ 1,70,85,363
    ₹ 75,00,00015%14₹ 1,07,028₹ 1,04,80,700₹ 1,79,80,700
    ₹ 75,00,00015%15₹ 1,04,969₹ 1,13,94,426₹ 1,88,94,426
    ₹ 75,00,00015%16₹ 1,03,258₹ 1,23,25,482₹ 1,98,25,482
    ₹ 75,00,00015%17₹ 1,01,828₹ 1,32,72,817₹ 2,07,72,817
    ₹ 75,00,00015%18₹ 1,00,627₹ 1,42,35,390₹ 2,17,35,390
    ₹ 75,00,00015%19₹ 99,615₹ 1,52,12,185₹ 2,27,12,185
    ₹ 75,00,00015%20₹ 98,759₹ 1,62,02,212₹ 2,37,02,212

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

    YearPrincipalInterestBalance Amount
    1₹ 64,420₹ 11,20,690₹ 74,35,579
    2₹ 74,776₹ 11,10,334₹ 73,60,803
    3₹ 86,796₹ 10,98,314₹ 72,74,006
    4₹ 1,00,749₹ 10,84,361₹ 71,73,256
    5₹ 1,16,945₹ 10,68,165₹ 70,56,310
    6₹ 1,35,745₹ 10,49,365₹ 69,20,565
    7₹ 1,57,567₹ 10,27,544₹ 67,62,998
    8₹ 1,82,896₹ 10,02,214₹ 65,80,101
    9₹ 2,12,298₹ 9,72,812₹ 63,67,803
    10₹ 2,46,426₹ 9,38,685₹ 61,21,377
    11₹ 2,86,040₹ 8,99,071₹ 58,35,337
    12₹ 3,32,022₹ 8,53,088₹ 55,03,315
    13₹ 3,85,396₹ 7,99,714₹ 51,17,918
    14₹ 4,47,350₹ 7,37,760₹ 46,70,568
    15₹ 5,19,264₹ 6,65,846₹ 41,51,303
    16₹ 6,02,738₹ 5,82,372₹ 35,48,565
    17₹ 6,99,631₹ 4,85,479₹ 28,48,934
    18₹ 8,12,100₹ 3,73,010₹ 20,36,833
    19₹ 9,42,649₹ 2,42,462₹ 10,94,184
    20₹ 10,95,404₹ 90,927₹ 0

    Documents Required

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

    Salaried Individuals Self-employed     
    Application form duly filled-up with photograph affixed on the space provided for the purpose.
    Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof.
    Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any.
    Salary slips for the latest three months along with CTC letter. Copies of the Income-tax Returns for the last 3 years along with financial statements, such as P&L Account and the Balance Sheet for the last three years with tax audit compliance report (wherever applicable) duly certified by the Chartered Accountants.
    Form No 16 along with IT returns and computation for total income for the last three years. Property documents

    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

    Branch/District Address
    Delhi/Noida Plot No. 2, 3rd Floor, Block – E, Sector – 1, Noida, Dist. Gautam Budh Nagar – 201301
     
    Uttar Pradesh (1) 203 & 204, 2nd Floor, Sky High Chamber, Park Road, Lucknow – 226001.
    (2) 1st Floor, Sky Tower, Plot No. 39/2/4, Building Unit No. 220A to 220E, Sanjay Place, Agra – 282002
    (3) Pili Bhit Bypass Road, Opp. Rohilkhund University, Above SBI, Bareily – 243001
    (4) LDA Centre, No.2, S P Marg, Nawab Yusuf Road, Civil Lines, Allahabad – 211001
    (5) 139-141, 3rd Floor, Above Punjab National Bank, Mangal Pandey Nagar, University Road, Meerut – 250004
    Punjab 1st floor, SLS Tower, 100 Feet road Plot no. 273, Near Axis Bank, Amritsar- 143 001
     
    Rajasthan Office No. 401, 4th Floor, Fortune Heights Building, Subhash Marg, C-Scheme, Jaipur- 302001
    West Bengal CK – 15, Sector – II, Grnd Floor, Salt Lake City, Kolkata – 700 091
     
    Maharashtra 506, 5th Floor, East Court, Phoenix Market City, Building No. A, Viman Nagar, Opp. To Gega Space, Pune – 411014
    Andhra Pradesh Door No.14-1-1/2B, Grnd Floor, Nouroji Road, Maharanipeta, Vishakhapatnam – 530002
     
    Madhya Pradesh Plot No.7, 2nd Floor, Kwality Business Center, Zone II, M. P. Nagar, Bhopal – 462011
     
    Karnataka No. 52, 9th Main, 29th Cross, Banashankari, 2nd Stage, Bengaluru – 560070

    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.

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    EMI Calculator