Swagat Housing Finance Home Loan

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.

Home Loan

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

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    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
    Tenure 5 to 20 years
    Age Limit> 21 years and < 65 years at the time of loan maturity
    Processing FeesNIL
    Pre-payment or ForeclosureNIL
    Loan to Value 80% of the property value
    Applicable toSalaried employees/Self-employed professional(businessmen)

    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.)
    25000001 10.5%220372144458 26,44,458
    25000002 10.5%115940 2,82,562 27,82,562
    25000003 10.5% 81,256 4,25,220 29,25,220
    25000004 10.5% 64,008 5,72,406 30,72,406
    25000005 10.5% 53,735          7,24,085 32,24,085
    25000006 10.5% 46,947 8,80,215 33,80,215
    25000007 10.5% 42,152 10,40,741 35,40,741
    25000008 10.5% 38,600 12,05,604 37,05,604
    25000009 10.5% 35,877        13,74,733 38,74,733
    250000010 10.5%33,734 15,48,050 40,48,050
    250000011 10.5% 32,011 17,25,472 42,25,472
    250000012 10.5% 30,604 19,06,906 44,06,906
    250000013 10.5% 29,438 20,92,258 45,92,258
    250000014 10.5% 28,461 22,81,423 47,81,423
    250000015 10.5% 27,635 24,74,295 49,74,295
    250000016 10.5% 26,931         26,70,764 51,70,764
    250000017 10.5% 26,327 28,70,714 53,70,714
    250000018 10.5% 25,806 30,74,030 55,74,030
    250000019 10.5% 25,353 32,80,592 57,80,592
    250000020 10.5%24,959       34,90,279               59,90,279

    Amortization Table

    YearPrincipal(in Rs.)Interest(in Rs.)Balance Amount(in Rs.)
    1 38,842260,6662,461,158
    2 43,123256,3852,418,035
    3 47,873 251,635 2,370,162
    4 53,151 246,357 2,317,011
    5 59,007 240,501 2,258,004
    6 65,512 233,996 2,192,492
    7 72,731 226,777 2,119,761
    8 80,746 218,762 2,039,015
    9 89,645 209,863 1,949,370
    10 99,523 199,985 1,849,847
    11 110,490 189,018 1,739,357
    12 122,668 176,840 1,616,689
    13 136,184 163,324 1,480,505
    14 151,194 148,314 1,329,311
    15 167,858 131,650 1,161,453
    16 186,353 113,155 975,100
    17 206,892 92,616 768,208
    18 229,692 69,816 538,516
    19 255,002 44,506 283,514
    20 283,734 16,403 0

    Documentation for Swagat Home Finance

    Salaried EmployeesSelf-Employed Professionals/ Businessmen
    -Application Form
    - KYC Documents
    Photo ID Proof
    Residence Address
    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 months Professional 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 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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