AU Small Finance Bank Home Loan Interest Rate

Serving all rural and urban segments of Indian society since 2017, AU Small Finance Bank strives to make home-owning a possible reality for all of the country's citizens. The bank's low rates of interest point in that direction, which starts at just 8% p.a. The loan can be availed for up to 30 years, starting at Rs. 200,000. AU bank home loan interest rate, processing fees, and other charges are deliberately easy to afford by all and quite encouraging for prospective loan applicants.  

 

AU Small Finance Bank EMI Calculator

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AU Small Finance Bank Home Loan Key Highlights

Amount of Loan Rs. 200,000 onwards
Rate of Interest 8% - 22% p.a.
Processing Fees

Up to 2% of the loan amount

Max Tenure for Loan Repayment 30 years for bank-salaried applicants and 20 years for cash-salaried/self-employed professionals/self-employed non-professionals

AU Small Finance Bank Home Loan Interest Rates in 2024

AU offers home loans to all segments of society at rather affordable interest rates. For both salaried and self-employed loan applicants, the AU Small Finance bank home loan interest rate 2023 starts at 8% p.a. and goes up to 22% p.a. Given below is a table representing the rate of interest on AU Bank home loans offered to varied categories of loan applicants

Loan Category Rate of Interest on Home Loan
Salaried 8% - 22% p.a. 
Self-Employed 8% - 22% p.a. 
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Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants

Repo Linked Lending Rate (RLLR) is 8% p.a.

Loan Category Rate of Interest on Home Loan (p.a.)
All Loans 8% - 22% p.a. 

AU Small Finance Bank Home Loan Top-Up Interest Rates

Loan Category Rate of Interest on Home Loan (p.a.)
All Loans 8% - 22% p.a.  

Interest rates were last updated on 23rd November 2023

AU Small Finance Bank Home Loan Interest Rates for All Schemes in India

AU Small Finance Bank offers its home loan applicants a variety of plan options to avail of as per their custom requirements. You can choose to opt for the home loan facility to buy a house, a plot for construction, to extend or renovate an existing residential property, and more under the varied schemes provided by the bank. Tabulated below are the various home loan schemes offered by AU Bank, as well as their corresponding rates of interest

AU Small Finance Bank Home Loan Schemes Rate of Interest
Home Construction Loan
  • 8% - 22% p.a.
 
Home Purchase Loans
  • 8% - 22% p.a.
 
Home Improvement Loan
  • 8% - 22% p.a.
 
Home Top-Up Loan
  • 8% - 22% p.a.
 
Home Loan Balance Transfer
  • 8% - 22% p.a.
 
Land Purchase & Construction Loan
  • 8% - 22% p.a.
 

AU Small Finance Bank Home Loan Interest Rates for Balance Transfer, Top Up, and Overdraft

To offer the maximum convenience to its home loan customers, AU Small Finance Bank offers 3 facilities, namely:

AU Small Finance Bank Home Loan Balance Transfer

The AU Small Finance Bank balance transfer option facilitates the seamless transfer of balance home loan amounts from other banks to AU Small Finance, where the rate of interest offered is relatively lower. This, in turn, helps ease off the financial burden on customers. AU Small Finance Bank offers home loan balance transfer at 8% p.a. onwards for both salaried and self-employed professionals. 

AU Small Finance Bank Home Loan Top-Up

The top-up option is the easiest way to avail of some additional cash without the need to apply for another loan (a hassled process). AU Small Finance Bank allows its customers to easily make use of the home loan top-up option at interest rates between 8% and 22% per annum and cover those additional expenses on their homes. 

AU Small Finance Bank Overdraft Facility

The overdraft option at AU Small Finance Bank allows customers to deposit money in their current account and withdraw when required to finance any emergency requirements. The Overdraft or OD facility by the bank is one of the easiest and safest means to cover short-term personal expenses. 

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Compare AU Small Finance Bank Home Loan Interest Rate with Top Banks

It helps to understand the interest rates on home loans offered at other banks and NBFCs in India so that you can make an informed decision. The table below lists the interest rates and processing fees of some of the top Indian banks and NBFCs, along with those of AU Small Finance Bank, to provide you with a clearer picture

Bank/NBFC Rate of Interest on Home Loan Processing Fee
HDFC Home Loan 8.50% p.a. onwards Up to 0.50% of the loan amount / Rs. 3,000 (whichever is higher) + applicable taxes
Bank of Baroda 8.40% p.a. onwards Up to 0.50% of the loan amount
SBI 8.40% p.a. onwards 0.35% of loan amount + applicable GST
TATA Housing 8.70% p.a. onwards 0.5% of loan amount + GST
PNB Housing 8.50% p.a. onwards Up to 1% of the loan amount

AU Small Finance Bank Home Loan Balance Transfer Interest Rates

If you wish to reduce the financial burden, you can transfer any outstanding amount from your existing home loan from your current lender to AU Small Finance Bank. The latter offers customers seamless home loan balance transfer facilities at competitive interest rates and better service. 

AU Small Finance Bank home loan balance transfer starts at 8% per annum for both salaried and self-employed individuals. Given below is the procedure to apply for the loan transfer:

  1. Visit the Repay Right section at Repay Right
  2. In the form provided, enter the current outstanding amount on your home loan, existing EMI payable, existing interest rate, new interest rate, and existing loan repayment tenure.
  3. Click on Next to submit the form.
  4. On the next page, you will be able to view your total savings with AU Small Finance Bank's home loan balance transfer.
  5. You can also contact one of our team representatives from BASIC Home Loan to easily transfer your current home loan to AU Small Finance Bank.

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How to Calculate AU Small Finance Bank Home Loan Interest Rates?

Before availing of a home loan facility with AU Small Finance Bank, it would help to determine the annual rate of interest payable to the bank. The easiest and safest way of calculating it is to use the online calculator tool at EMI. This tool also generates the EMI amount, providing you with a fair idea of the total amount required to be paid to the bank. For more details, please refer to the table given below

AU Small Finance Bank Home Loan EMI Calculator 2023

Loan Amount Rate of Interest EMI for 10-Year Loan Tenure EMI for 20-Year Loan Tenure EMI for 30-Year Loan Tenure
Rs. 10 lakh 8% p.a. Rs. 12,133 Rs. 8,364 Rs. 7,338
Rs. 20 lakh 8% p.a. Rs. 24,266 Rs. 16,729 Rs. 14,675
Rs. 30 lakh 8% p.a. Rs. 36,398 Rs. 25,093 Rs. 22,013
Rs. 40 lakh 8% p.a. Rs. 48,531 Rs. 33,458 Rs. 29,351
Rs. 50 lakh 8% p.a. Rs. 60,664 Rs. 41,822 Rs. 36,688
Rs. 60 lakh 8% p.a. Rs. 72,797 Rs. 50,186 Rs. 44,026
Rs. 70 lakh 8% p.a. Rs. 84,929 Rs. 58,551 Rs. 51,364
Rs. 80 lakh 8% p.a. Rs. 97,062 Rs. 66,915 Rs. 58,701
Rs. 90 lakh 8% p.a. Rs. 1,09,195 Rs. 75,280 Rs. 66,039
Rs. 1 crore 8% p.a. Rs. 1,21,328 Rs. 83,644 Rs. 73,376
Disclaimer:

The figures in the table above are based on an 8% p.a. interest rate offered by SMU Small Finance Bank. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors. Please connect with a BASIC team member for more details.

FAQ's

The bank generally offers home loans with rates of interest starting from 8% p.a. However, Pradhan Mantri Awas Yojana offers a subsidized interest rate of up to 6.5% p.a.

AU Small Finance Bank offers home loans for a maximum tenure of up to 30 years for salaried professionals and 20 years for self-employed applicants.

Yes, NRIs are permitted to apply for a home loan with AU Small Finance Bank. However, they may be able to do so with a resident Indian co-applicant.

An applicant for a home loan with the bank must be at least 18 years old.

Some of the key factors that influence the rate of interest offered on home loans are:

  • Credit or CIBIL score of the applicant
  • Type of interest 
  • Maximum loan tenure
  • Loan-to-Value (LTV) Ratio
  • Work profile of the applicant  
  • Property Location

The bank charges 3% p.a. of any outstanding home loan amount as prepayment/foreclosure charges. 

Yes, AU Small Finance Bank offers both fixed and floating rates of interest on home loans.

Many banks allow changing from fixed to floating interest rates during the tenure of a home loan on a conversion fee of up to 2% of the total loan amount.