Capital India Home Loan

Capital India Home Loans Limited was established to help people buy homes with affordable housing loan schemes. CIHL, or Capital India Home Loans, understands that homeownership lays a strong foundation for a stable future, and everyone deserves this opportunity. The Capital India home loan interest rate starts at 9.00% per annum for floaters and 11.00% per annum for fixed rates. CIHL offers home loans at a processing fee of 4.00% of the loan amount, and the maximum amount a borrower can get is at NBFC's discretion. An interested borrower can apply for a CIHL scheme to buy, extend, improve, or renovate a home or transfer the balance from an existing home loan to this NBFC. Capital India also offers affordable housing to lower-income groups through the PMAY scheme.

Capital India Home Loan EMI Calculator

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Capital India Home Loan Key Highlights

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Loan Amount At the discretion of CIHL
Rate of Interest Starts at 9.00% per annum
RPLR
Processing Fee

4.00% of the loan amount

Maximum Tenure for Repayment 20 years
Penal Rate of Interest
Rate Packages Floater/ Fixed
Charges for Prepayment/Foreclosure Floater: Nil | Fixed: 2% + GST for closure by balance transfer

Capital India Home Loan Interest Rates in 2024

Capital India NBFC offers home loans at fixed and floater rates, and the interest rate varies accordingly. The Capital India Home Loans Limited interest rate in 2023 starts at 9.00% per annum for floaters and 11.00% per annum for fixed plans. The table below shows the current Capital India Housing Loan rate of interest in 2023:

 

Loan Slab Interest Rate for Home Loan
Floater Plan (For Salaried) 9.00% - 16.00% per annum 
Floater Plan (For Self Employed) 9.00% - 16.00% per annum 
Fixed Plan (For Salaried) 11.00% - 26.00% per annum 
Fixed Plan (For Self Employed) 11.00% - 26.00% per annum 

Interest rates were last updated on 19th September 2023

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Capital India Home Loan Eligibility Criteria

An applicant must meet some eligibility criteria to get home loans approved from any bank or NBFC. These are general parameters based on the applicant's age, nationality, work experience, employment, and CIBIL score. The table below enlists Capital India home loan eligibility criteria for your reference:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years)
Nationality Indian Resident/ NRIs/ PIOs Indian Resident/ NRIs/ PIOs
Minimum Income Earned Nothing Specific Nothing Specific

Capital India Housing Loan Processing Fee and Charges

Processing each home loan application incurs some cost to the NBFC; therefore, it charges a processing fee of up to 4.00% of the loan amount. Besides, CIHL charges a set of fees for other services too. The table below enlists the updated Capital India home loan processing fees for2023:

Processing Fee

Up to 4.00% of the loan amount

Loan Agreement and Document Retrieval Charges

Rs. 2,000 per instance

Charges for Providing Document List (LOD)

Rs. 500 per instance

Swapping Charges

Rs. 1.000

Cheque Bounce/ Rejection of NACH Charges

Rs. 500 per instance

Statutory Charges/ CERSAI
  • Loan =/< Rs. 5 lakhs: Rs. 50 per filing
  • Loan > Rs. 5 lakhs: Rs. 100 per filing
Loan Cancellation Charges

Rs. 10,000 per contract

Legal Charges

As per the contractual rate for overdue amounts/ the period after 30 days grace period

Late Payment Charges

2.00% per month over and above the prevailing rate of interest

Rate Switch Charges (Salaried/ SENP)

Rs. 5,000

Foreclosure Charges
  • Floater: Nil
  • Fixed: 2% + GST for closure by balance transfer
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Capital India Home Finance Schemes and Top Plans

Different borrowers may have different needs, and Capital India Home Loans understands this very well. Therefore, it offers a plethora of housing loan schemes to meet the varied needs of different people. Listed below are some of the popular home loan plans of CIHL:

1. Home Loans

  • Best  home loan scheme to  buy a ready-to-move-in property or under-construction property
  • Available to salaried, self-employed, professionals, and non-individual applicants
  • Tax benefits under Sections 24 and 80C of the Income Tax Act

2. Home Improvement Loans

  • Convenient financial solution for existing homeowners to renovate or repair their home
  • Low-interest rates and faster turnaround time
  • Tax benefits under Sections 24 and 80C of the Income Tax Act

3. Home Extension Loans

  • A perfect housing loan to extend your existing home by adding a room, floor, or balcony
  • Up to 90% of the home extension cost can be granted as a home loan
  • Tax benefits under Sections 24 and 80C of the Income Tax Act

4. NRI Home Loans

  • Customized home loan scheme for NRIs to buy a property in India
  • Attractive interest rates and easy documentation
  • Flexible loan repayment modes through NRO, NRE, NRNR, and FCNR accounts

5. Home Loan Balance Transfer

  • Flexible way to transfer the outstanding amount of the existing home loan to Capital India Home Loans
  • Additional Top-Ups available
  • Helps to lower your cash flow by reducing your EMIs

6. Pradhan Mantri Awas Yojana CLSS Loans

  • Affordable housing scheme for lower-income groups (LIG) and middle-income groups (MIG)
  • Lucrative subsidies available on home loans
  • One woman applicant is mandatory to avail PMAY subsidy
  • Maximum loan repayment tenure of up to 20 years

Note: All of the above home loan plans are made available to applicants solely at the discretion of Capital India Home Loan, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required for a Capital India Home Loan

Before you set out to apply for a home loan from CIHL, we recommend you have a complete knowledge of what documents you need to submit with the applicant form. So, here is a complete list of Capital India home loan documents required:

Documents Required for Salaried Applicants

Proof of Income
  • Appointment Letter
  • Salary slips for the last 3 months
  • Certified Letter from the employer
  • Form 16/ Latest Income Tax Returns
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Capital India Home Loans Ltd. 
  • Bank Statements for the last 6 months

Documents Required for Self-Employed Applicants

Proof of Income
  • Business License
  • Business Address Proof
  • Education Qualification Certificate
  • Profit and Loss Account Statements for the last 3 years attested by a CA
  • Balance sheet for the past 3 years
  • ITR of last 3 years
  • Photocopy of Registration of Shop or Business Establishment under Shops and Establishment Act
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Capital India Home Loans Ltd. 
  • Bank Statements for the last 12 months (Self and business)

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society)

Interest rates were last updated on 15 July 2023

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How to Apply for a Capital India Home Loan?

Interested in learning about Capital India's home loan application procedure? You need not even step out of your home to apply for a CIHL home loan scheme. You can follow these steps and apply for it from the comfort of your home:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name and contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find Capital India Home Loan Offices Near You

If you are planning to visit one of the offices of Capital India Home Loans near you to understand the Capital India Home Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form, and the team of BASIC Home Loan will reach out to you for needful assistance in the process.

Disclaimer:

For the latest Home Loan Interest rates and updates in Eligibility criteria, Home Loan offers, Home Loan application fees, Required Documents, and other FAQs related to Home Loans, please refer to the Capital India Home Loan Ltd website.

FAQs

The current interest rate for a Capital India home loan 2023 starts at 9.00% per annum for a floater and 11.00% per annum for a fixed rate. However, we recommend you verify the same from the official website of the NBFC.

No, Capital India doesn't offer 100% home loans. However, you can fetch the maximum loan amount by maintaining a good CIBIL score, increasing your tenure, and reducing your EMIs.

The maximum home loan amount limit at Capital India depends on the discretion of the NBFC. Therefore, we suggest you contact the officials of CIHL to learn about the same.

Capital India offers a variety of housing loan schemes to salaried and self-employed Indians, NRIs, and PIOs such as:

  • Home Loan
  • Home Improvement Loan
  • Home Extension Loan
  • Balance Transfer Loan
  • NRI Home Loan
  • PMAY - CLSS Loan

An interested borrower may check the eligibility for a Capital India home loan by visiting the official website of the NBFC. These are general parameters related to the age, nationality, minimum income, and work experience of the borrower.

The maximum loan repayment tenure for a Capital India home loan is up to 20 years.

Capital India Home Loans Ltd. doesn't charge any fee for foreclosure for floater rate packages. It charges up to 2.00%, excluding GST as the foreclosure fee for fixed-rate packages and balance transfer cases.

An applicant can fetch the following benefits by opting for a Capital India home loan:

  • Attractive interest rates
  • Expert guidance at your doorstep
  • Hassle-free and quick home loan disbursements
  • Tax Benefits under Sections 24 and 80C of the Income Tax Act
  • Flexible repayment modes