AU Small Finance Bank Home Loan

AU Small Finance Bank has been operating in India since 2017, intending to make home-building a reality for all rural and urban areas in the country. The bank offers rather attractive interest rates to customers nationwide, encouraging them to avail of home loans and make their dream of buying a house turn into reality. AU Small Finance Bank or SFB interest rate starts at 8% p.a. and goes up to 22% p.a. for loans availed of up to a maximum tenure of 30 years.

AU Small Finance Bank Home Loan EMI Calculator

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AU Small Finance Home Loan Key Highlights

Get the lowest interest rates with AU Small Finance Bank

Loan Amount Starting at Rs. 2 lakh
Rate of Interest 8% - 22% p.a.
RPLR
Processing Fee

Up to 2% of the loan amount

Maximum Tenure for Repayment 30 years (bank salaried employees) | 20 years (cash salaried/Self-Employed Professionals/Self-Employed Non-Professionals)
Penal Rate of Interest
Rate Packages
Charges for Prepayment/Foreclosure 3% p.a. of outstanding amount

AU Small Finance Bank Home Loan Interest Rates in 2024

AU SFB rates of interest start at 8% per annum. These competitive interest rates help attract more bank customers to avail of home loan facilities at the company. The table below provides a fair idea of AU Bank home loan interest rates for its applicants:

Loan Slab Interest Rate for Home Loan
For Salaried Employees Applicants 8% - 22% p.a. 
For Self-Employed Applicants 8% - 22% p.a. 

Interest rates were last updated on 26th September 2023

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AU Small Finance Bank Home Loan Eligibility Criteria

You are entitled to avail of a home loan facility with AU SFB if you meet the below-listed eligibility criteria for AU Small Finance home loans:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 18 to 70 years 18 to 70 years
Nationality Indian Indian
Minimum Income Earned

AU Small Finance Bank Home Loan Processing Fee and Charges

The processing fee is the amount levied by a bank on its loan applicants, charging them for the additional expenses that the bank incurs for processing the customers’ loan applications. Tabulated below are the AU Small Finance Bank home loan processing fee and other charges levied by the bank on home loan applications:

Processing Fee

Up to 2% of the loan amount 

CERSAI Fees

Nil

Legal Handling/Incidental Charges

At Actuals

Charges for ECS Return/Cheque Bounce

Rs. 500

Foreclosure Statement Charges

Rs. 500

Administrative Charges

Up to 2% of the loan amount

Overdue Interest

3% every month on the amount outstanding

Stamping Charges

Following the State’s Stamp Act

Collection Charges

Rs. 600 for every visit

Statement of Account

Rs. 500

Repayment Schedule/Duplicate Amortisation

Rs. 500

Loan Document/Duplicate Copy of the Property

Rs. 1,000

Replacement of Asset/Property/Collateral

Rs. 2,500

Property Valuation Charges

Rs. 1,500 for every property

Duplicate Issue of No Dues Certificate

Rs. 500

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AU Small Finance Bank Home Loan Schemes and Top Plans

AU Small Finance Bank offers a varied choice of home loan schemes to its customers so that they can use the loan amount appropriately for their personalized needs. Some of the top home loan products offered by the bank include the following:

1. Home Construction Loan

  • Loan available up to 100% of the estimated cost of the property
  • Easy availability of the facility in rural parts of the country
  • Tax benefits offered under Sections 80EE, 24, and 80C of the Income Tax Act
  • Fast loan approvals to help you construct the home of your dreams faster

2. Home Purchase Loan

  • Loan available for buying ready-to-move-in houses, flats, and bungalows from Development Authorities and Builders
  • Also available for resale residential properties
  • Loans can be availed for the purchase of RERA-approved houses and flats, freehold and leasehold properties, Municipal Corporation/Nagar Palika houses, and Gram Panchayat properties

3. Home Improvement Loan

  • Can be used for making upgrades and renovations to existing residential properties 
  • Loan amount is offered for making all repairs and transformations to the house to make it appear more spacious and comfortable 
  • Competitive rates of interest offered

4. Home Top-Up Loan

  • Add-on loan amount available on existing home loan from AU SFB
  • Minimum documentation required for the top-up loans
  • Additional funds available to meet personalized home and financial requirements
  • Can be availed by both existing and new customers of the bank

5. Home Loan Balance Transfer

  • Lower your existing home loan burden with convenient transfers to AU Small Finance Bank
  • Reduced EMIs and lower rates of interest on balance transfers of home loans
  • Facility can be availed by customers with no income proof
  • Can be availed by rural India as well

6. Land Purchase & Construction Loan

  • Ideal for buying a land/plot and building a home of your choice 
  • Competitive rates of interest
  • Door-to-door service provided by the bank staff in addition to expert financial counseling services

7. Commercial Property Purchase Loan

  • Ideal for buying a commercial office space to help operate your dream business setup
  • Competitive interest rates on loan for buying commercial property
  • Loan can be conveniently availed of at the bank’s over 400 branches in India
  • Seamless and hassle-free loan application process with minimal documentation required
  • Commercial property can be freehold, belong to Development Authority, Gram Panchayat, or Municipal Corporation
  • Loan repayment tenure ranges between 1 and 15 years
  • Minimum amount of loan that can be availed - Rs. 2 lakh 

Note: All of the above home loan plans are made available to applicants solely at the discretion of AU Small Finance Bank, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required for AU Small Finance Bank Home Loan

AU Small Finance Bank requires its home loan applicants to submit a set of documents along with the application for the loan amount. The exact home loan documents required by AU Small Finance Bank are as follows:

Documents Required for Salaried Applicants

Proof of Income
  • Salary Certificate (in case of cash salaried employees)
  • Bank statement/salary slip/Form 16 (either one) as proof of current or last income drawn
Other Required Documents
  • Cheque for Home Loan Processing Fee
  • Bank Statements for Last 6 Months,
  • Duly Signed Application Form with Affixed Photograph
  • Proof of Business

Documents Required for Self-Employed Applicants

Proof of Income
  • Informal income documents 
  • Financial statements from previous 3 years/Latest IT Return
Other Required Documents
  • Cheque for Home Loan Processing Fee
  • Bank Statements for Last 6 Months,
  • Duly Signed Application Form with Affixed Photograph
  • Proof of Business

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Aadhar Card, Valid Passport, Valid Driving License, Voter’s ID, PAN Card

Documents Related to Property
  • Payment receipts to Developer/Builder
  • Copy of Seller Agreement/Letter of Allotment

Interest rates were last updated on 15 July 2023

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How to Apply for an AU Small Finance Bank Home Loan?

Ready to apply for an AU Small Finance Bank home loan but don’t know how? The process is extremely simple and hassle-free and can be completed in minutes online:

  • Just visit BASIC home loan to get started on your home loan application process.
  • Next, visit the section ‘BASIC Apply Now’ on the portal.
  • Enter the key details required on the form provided - your name, contact details, and all other information as may be mentioned on the form.
  • Check the form carefully upon completion, and when ready, hit the 'Submit' button.
  • Your form to initiate the home loan application with AU SFB has been submitted. A BASIC Home Loan team representative will now connect with you shortly to assist you through the home loan filing procedure with the AU bank and also explain the complete details about the same. 

Find AU SFB Home Loan Offices Near You

AU Small Finance Bank operates in major Indian cities and can be easily looked up online. In case you wish to initiate applying for a home loan with the bank, you can find a branch office of the bank near you. Alternatively, you can connect with a team member of BASIC Home Loan, who will then help you through the entire home loan application process with ease. Also, please feel free to visit the nearest AU SFB Home Loan office in your city for any queries, complaints, or grievances.

Disclaimer:

Please refer to the official website of AU SFB Home Loan for the latest home loan interest rates and updates on eligibility criteria, home loan schemes, home loan application fees, required documents, and other FAQs on home loans.

FAQs

AU Small Finance Bank offers home loans to customers at a rate of interest starting at 8% per annum.

The maximum home loan amount AU Small Finance Bank offers to loan applicants is Rs. 40,00,000.

Yes, AU Small Finance Bank is accredited by the RBI and has been operating as a Small Finance Bank (SFB) since April 19, 2017.

The minimum stable salary required for availing of an AU Small Finance Bank home loan is Rs. 25,000 per month. 

A credit score of 700 or higher is generally acceptable by the bank for approving home loan applications.

Yes, AU Small Finance Bank does offer a home loan facility for self-employed applicants too.

A higher credit score (generally 700 or more) can help home loan applicants improve their chances of availing lower interest rates on the loan amount requested.

The maximum home loan tenure the bank grants is up to 30 years for bank-salaried employees and 20 years for cash-salaried/Self-Employed Professionals (SEP) and Self-Employed Non-Professional (SENP)  applicants.