Vastu Housing Finance Corporation Limited – Interest Rate

Home Loan Rates EMI 2017 1628 views

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    Vastu Housing Finance offers various home loan schemes designed to support your dreams of possessing ‘own’ home. The loans can be availed to acquire a ready-made or under construction housing property with ease.

    Vastu Housing Finance – Everything you wanted to know

    Buying a home is a very important decision in your life and hence Vastu Housing Finance Corporation Limited makes the purchasing experience of acquiring your own home, a smooth and hassle-free. You may no longer have to entangle yourself in complicated documentation processes as the company takes care of itself with ease.

    Vastu Housing Finance Eligibility Criteria – Who can avail the housing loan?

    ParticularsDescription
    Interest Rates12% – 18% p.a.
    Loan AmountRs. 50 lakhs
    Tenure20 years
    Age Limit>21 years and < 65 years at the time of loan maturity
    Processing FeesUpto 2% of Loan Amount plus applicable taxes and/ or other statutory levies
    Pre-payment or ForeclosureNil
    Loan to Value 80% of the property value
    Applicable to :Salaried & Self-employed professionals/businessmen

    Vastu Housing Finance Eligibility Calculator – How much loan you can get?

    Analyze your eligibility online by using the eligibility calculator. The eligibility calculator shows  your credibility for availing home loans which depend on the specified criteria. The underlying criteria as discussed below :

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

    Suppose you are working for an MNC and earning a monthly salary of Rs. 65,000. From which, you have saved Rs. 10,000 as a repayment towards your EMI. Generally, EMIs fall in the category of 50%-60% of your net salary for disbursing the higher amount of loan.

    If you want to calculate your amount, tenure, and rate of interest, you will get to know your EMIs that you will have to pay every month so as to repay the loan amount that you are eligible for.

    Amount- Rs. 100,000

     Interest Rates-12%-18%per annum

    Tenure-20 years

    Per Lac EMI- Rs. 1,101

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

    – Rs. 100,000 x 10,000/1101 =Rs. 9.08  lacs(approx.)

    So, your expected amount for home loan would be Rs. 9.08  lacs(approx.)

    Vastu Housing Finance EMI Calculator – How much EMI you can pay?

    EMI is the fixed monthly payment that can be estimated as a repayment towards your home loan  and that can be calculated by using a home loan EMI Calculator. EMI stands for Equated Monthly Installments.

    Calculating your EMI is an easy process. You only need to fill the following inputs such as :

    • Amount of Loan
    • Loan Tenure
    • Interest rate

    As soon as you submit the details, the home loan EMI calculator will disclose you the loan EMI, interest payable and total amount to be paid.

    For example : You have applied for Rs. 50 lakhs home loan for the purchase of a 2 BHK flat in East Delhi. The tenure of your home loan would be payable after 20 years at floating interest rates being 12%-15%. Subsequently, fixed rate will be decided subject to your eligibility criteria. The below table provides you a highlight about the calculated EMI, interest payment and the total amount(EMI+Interest) required to be paid each year on your 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.)
    5000000112%-15%4,44,244-4,51,2923,30,927-4,15,49953,30,927-54,15,499
    5000000212%-15%2,35,367-2,42,4336,48,817-8,18,39856,48,817-58,18,398
    5000000312%-15%1,66,072-1,73,3279,78,576-12,39,75959,78,576-62,39,759
    5000000412%-15%1,31,669-1,39,15413,20,121-16,79,38063,20,121-66,79,380
    5000000512%-15%1,11,222- 1,18,95016,73,334-21,36,97966,73,334-71,36,979
    5000000612%-15%97,751-1,05,72520,38,069-26,12,20570,38,069-76,12,205
    5000000712%-15%88,264-96,48424,14,148-31,04,63774,14,148-81,04,637
    5000000812%-15%81,264-89,72728,01,364-36,13,79578,01,364-86,13,795
    5000000912%-15%75,921-84,62231,99,486-41,39,14281,99,486-91,39,142
    50000001012%-15%71,735-80,66736,08,257-46,80,09786,08,257-96,80,097
    50000001112%-15%68,389-77,54640,27,400-52,36,03990,27,400-1,02,36,039
    50000001212%-15%65,671-75,04444,56,618-58,06,31394,56,618-1,08,06,313
    50000001312%-15%63,433-73,01448,95,597-63,90,24298,95,597-1,13,90,242
    50000001412%-15%61,571-71,35253,44,008-69,87,1341,03,44,008-1,19,87,134
    50000001512%-15%60,008-69,97958,01,513-75,96,2841,08,01,513-1,25,96,284
    50000001612%-15%58,686-68,83862,67,761-82,16,9881,12,67,761-1,32,16,988
    50000001712%-15%57,561-67,88567,42,398-88,48,5441,17,42,398-1,38,48,544
    50000001812%-15%56,598-67,08572,25,064-94,90,2601,22,25,064-1,44,90,260
    50000001912%-15%55,769-66,41077,15,397-1,01,41,4571,27,15,397-1,51,41,457
    50000002012%-15%55,054-65,83982,13,034-1,08,01,4751,32,13,034-1,58,01,475

    Amortization Table

    YearInterest(in Rs.)Principal(in Rs.)Balance(in Rs.)
    1 42,941-64,099 596,549-747127 4,935,901-4957059
    2 49,843-72,227 588,421-740225 4,863,674-4907216
    357,858- 81,387 579,261-732210 4,782,287-4849358
    4 67,157-91,709 568,939-722911 4,690,578-4782201
    577,953- 103,340 557,308-712115 4,587,238-4704248
    690,484- 116,445 544,203-699584 4,470,793-4613764
    7 105,029-131,214 529,434-685039 4,339,579-4508735
    8 121,913-147,855 512,793-668155 4,191,724-4386822
    9 141,511-166,606 494,042-648557 4,025,118-4245311
    10 164,261-187,737 472,911-625807 3,837,381-4081050
    11 190,667-211,545 449,103-599401 3,625,836-3890383
    12 221,316-238,376 422,272-568752 3,387,460-3669067
    13 256,894-268,606 392,042-533174 3,118,854-3412173
    14 298,192-302,673 357,975-491876 2,816,181-3113981
    15 341,061-346125 319,587-443943 2,475,120-2767856
    16 384,317-401767 276,331-388301 2,090,803-2366089
    17 433,056-466353 227,592-323715 1,657,747-1899736
    18 487,979-541322 172,669-248746 1,169,768-1358414
    19 549,867-628343 110,781-161725 619,901-730071
    20 620,449-730893 41,044-60716 0

    Documentation for Vastu Housing Finance – What you must posess before applying?

    Salaried EmployeesSelf-Employed Professionals
    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 documentslike 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 Vastu Housing Finance – More like salient features!

    • Simplified documentation process
    • Personalized customer service
    • Transparent processes
    • Tailor-made solutions to accommodate your needs
    • Quick and efficient processing
    • Competitive home loans interest rate
    • Skilled and efficient trained Team

    Vastu Housing Finance  Branches

    Contact your nearest customer care representative of Vastu Housing Finance Branches for any queries relating to the processing of your home loan, unavailability to produce any document for evidence or any other issues or grievances.You can also call at 022-24999911 between 10:00 and 18:00 Monday to Saturday—or drop an email at the email address mentioned on the website.

    BranchAddress
    Mumbai (Head Office)A-102, Poonam Chambers, Dr A. B. Road, Opp. Atria Mall, Worli, Mumbai-400018, India.
    Pune Chinar Apartment,Shop Number – 6, Ground floor,K.B Joshi Road, Opp agriculture college,Shivaji Nagar, Pune – 411005.
    Pune Akurdi First floor, Shop No 155 Jai Ganesh Visions B-wing Akurdi Pune, Maharashtra 411035
    Bengaluru39/2, Santoshima Enclave, B Block, 4th floor, T.Dasarahalli, 8th Mile, Tumkur Road, Bengaluru ‐ 560057.
    Surat 101,1st Floor Shivam Complex Opp Mudita Ni Midhaio Near Police Choki, Nanpura, Surat – 395001.
    IndoreR106/R107, Metro Towers, B-2, PU4 Scheme No. 54, Vijaynagar, A.B. Road, Indore – 452010.
    Ahmedabad B/18 Nirman Complex, Off C G Road, Navrangpura, Ahmedabad – 380009.
    Kalyan No. 401 on the 4th Floor in the “Shubhalaxmi Shopping Centre”, Shivaji Chowk, Agra Road, Kalyan – 421301.
    NashikShop No.4,Ground Floor, Madhav Plazza, Mumbai Nakka, Nasik – 422001.
    Coimbatore19/8, Sree Vishnu, Second Floor Shanmuga Nagar,(216) Sungam By Pass Road Ramanathapuram Post Coimbatore, TN 641045

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