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# Swagat Housing Finance Home Loan

Last Updated : July 26, 2019, 1:12 p.m.

Swagat Housing Finance offers the most suitable fixed interest rate home loans in the range of Rs. 1- 20 Lacs that can be repaid over long tenures of 5 to 20 years. The company offers customized home loans for new purchases as well as repairs on easy terms at attractive interest rates.

## Swagat Finance Home Loan

Swagat Housing Finance Company Limited ventured in the housing segment with a purpose of extending affordable housing loans to low and middle-income class of the society who cannot be granted Bank assistance for any reason, whatsoever. The company provides hassle-free loans with quick disposal and less paperwork.

## Swagat Housing Finance Eligibility Criteria

ParticularsDescription
Interest RatesAs per reducing fixed rate of interest decided by the company time-to-time
Loan AmountFrom Rs. 1 lakh-Rs. 20 lakhs
Tenure5 to 20 years
Age Limit> 21 years and < 65 years at the time of loan maturity
Processing FeesNIL
Pre-payment or ForeclosureNIL
Loan to Value80% of the property value

## Swagat Home Finance Eligibility Calculator

Now let us understand the loan amount eligibility with the help of an example below.

Suppose you are an IT professional earning Rs. 70,000 p.m. You have saved Rs. 10,000 for repaying it towards your EMI. Normally, EMIs fall in the range of 50%-60% of your net salary for disbursing higher loan amounts. In general, the calculation of income-savings pattern is done by Swagat Home Loan Eligibility calculator , by taking into consideration per lac EMI. The expected loan amount calculated is based on the formula stated below:

Amount- Rs. 100,000

Rate of Interest-10.5%p.a.

Loan Tenure-20 Years

Per Lac EMI- Rs. 998

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

– Rs. 100,000 x 10,000/998 =Rs. 10.02 lacs(approx.)

So, the expected home loan amount from Swagat Home Finance would be Rs. 10.02 lacs(approx.)

## Swagat Housing Finance EMI Calculator

EMI Calculator is easy to use and quick to calculate. By using Swagat Home Finance 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 Rs. Lakh)
• Number of Months
• Interest Rate (in %)

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

For example : You are a grocery retailer having a business income of Rs. 10 lakhs per annum. You want to construct your house on the top of your shop costing you Rs. 55 lakhs. You have applied for a home loan of Rs. 25 lakhs as against Rs. 30 lakhs payable through your accumulated savings. The allotted loan tenure for your home loan is 20 years with an interest rate being 10.5%. The following table shows you the calculated EMI along with interest and the total amount that costs you against your sanctioned home loan.

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

Loan Amount(in Rs.)Loan Tenure(in years)Interest Rate( % p.a.)EMI(in Rs.)Total Interest Outgo(in Rs.)Total Amount(EMI+Interest)(in Rs.)
2500000110.5%22037214445826,44,458
2500000210.5%1159402,82,56227,82,562
2500000310.5%81,2564,25,22029,25,220
2500000410.5%64,0085,72,40630,72,406
2500000510.5%53,7357,24,08532,24,085
2500000610.5%46,9478,80,21533,80,215
2500000710.5%42,15210,40,74135,40,741
2500000810.5%38,60012,05,60437,05,604
2500000910.5%35,87713,74,73338,74,733
25000001010.5%33,73415,48,05040,48,050
25000001110.5%32,01117,25,47242,25,472
25000001210.5%30,60419,06,90644,06,906
25000001310.5%29,43820,92,25845,92,258
25000001410.5%28,46122,81,42347,81,423
25000001510.5%27,63524,74,29549,74,295
25000001610.5%26,93126,70,76451,70,764
25000001710.5%26,32728,70,71453,70,714
25000001810.5%25,80630,74,03055,74,030
25000001910.5%25,35332,80,59257,80,592
25000002010.5%24,95934,90,27959,90,279

Amortization Table

YearPrincipal(in Rs.)Interest(in Rs.)Balance Amount(in Rs.)
138,842260,6662,461,158
243,123256,3852,418,035
347,873251,6352,370,162
453,151246,3572,317,011
559,007240,5012,258,004
665,512233,9962,192,492
772,731226,7772,119,761
880,746218,7622,039,015
989,645209,8631,949,370
1099,523199,9851,849,847
11110,490189,0181,739,357
12122,668176,8401,616,689
13136,184163,3241,480,505
14151,194148,3141,329,311
15167,858131,6501,161,453
16186,353113,155975,100
17206,89292,616768,208
18229,69269,816538,516
19255,00244,506283,514
20283,73416,4030

## Documentation for Swagat Home Finance

-Application Form
- KYC Documents
Photo ID Proof
Proof
Signature proof
Date of Birth/Age
proof
-Updated Bank
Statement for last 6
months
-Existing Loan details
along with documents like Sanction Letter and State of Account(SOA)
Salary Slip or Salary Certificate for 3 monthsProfessional Qualification Certificate(if any)
Form 16 (last two years)Office address proof
Qualification ProofLast two years Income Tax Returns along with Computation of Income, Profit & Loss A/c and Balance Sheet Statement

## Features and Benefits of Swagat Home Finance

• Attractive Housing Finance Rates
• No prepayment charges
• Balance transfer facility
• Quick and transparent processing
• Doorstep Services
• Tax Benefits

## Swagat Home Finance Customer Care Contact Number

In case of knowing about prevailing rate of interest, changes in any processing fees from time to time, sanctioned limit or discussing the eligibility criteria or unavailability of producing any document for evidence, reach out to an experienced customer care representative of Swagat Home Finance on : 022-26248565 / 4255-1414

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