Hinduja Housing Finance

Incorporated in April 2015, Hinduja Housing Finance Limited is a subsidiary of Hinduja Leyland Finance, a popular NBFC in vehicle finance. Chosen by many as their one-stop destination for home finance needs, Hinduja Housing Finance offers easy home loans starting at an interest rate of 10.50% per annum at a processing fee of Rs. 4,600. The maximum loan repayment period granted for Hinduja Home Loans is up to 25 years.  

Hinduja Housing Finance EMI Calculator

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Hinduja Housing Finance Highlights

Get the lowest interest rates with Hinduja Housing Finance

Loan Amount Up to Rs. 1 crore
Rate of Interest 10.50% p.a. onwards
RPLR
Processing Fee

Rs. 4,600 inclusive of the service tax

Maximum Tenure for Repayment 25 years
Penal Rate of Interest
Rate Packages Fixed/ Floater
Charges for Prepayment/Foreclosure 2% of principal prepaid + taxes

Hinduja Housing Finance Interest Rates in 2024

Hinduja Housing Finance offers hassle-free housing loan schemes to salaries as well as self-employed applicants, who desire to own a home or construct, renovate, or extend one. The lowest Hinduja Housing Finance rate of interest is 10.50% per annum. The table given below will give you a clear idea about the Hinduja Housing Finance interest rate 2024:

Loan Slab Interest Rate for Home Loan
Hinduja New Property Home Loan 10.50% per annum onwards 
Hinduja Self-Construction Home Loan 10.50% per annum onwards 
Hinduja Resale Home Loan 10.50% per annum onwards 
Hinduja Home Extension Loan 10.50% per annum onwards 
Hinduja Composite Home Loan 10.50% per annum onwards 
Hinduja Home Improvement Loan 10.50% per annum onwards 
Hinduja Balance Transfer Loan 10.50% per annum onwards 

Interest rates were last updated on 1st May 2024

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Hinduja Housing Finance Eligibility Criteria

All financial lenders, whether banks or NBFCs have set up their home loan eligibility criteria to check the creditworthiness of an applicant. Hinduja Housing Finance is no exception in this case and asks for certain eligibility parameters that are not that tough to meet by prospective home loan borrowers. 

The table below will give you a clear idea about the Hinduja housing finance eligibility criteria:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 21- 65 21- 65
Nationality Indian Residents/ NRIs Indian Residents/ NRIs
Minimum Income Earned Rs. 10,000 per month Rs. 1.2 lakhs per annum

Hinduja Housing Finance Processing Fee and Charges

Just like other banks and finance companies, Hinduja Housing Finance charges to cover administrative expenses, property valuation, and legal documentation. The processing fee for Hinduja NBFC is Rs. 4,600 including the service tax.

The given table will update you with the Hinduja housing finance processing fees and charges for 2024:

Processing Fee

Rs. 4,600 inclusive of the service tax

EMI Payment Fee on account of nonsubmission of PDC/ ECS per transaction/ ACH

Rs. 300 + taxes

Cheque/ ECS Return

Rs. 250 + taxes

Overdue Charges

3% per month on overdue payment

Statement of Account

Nil for once every year and Rs. 750 + taxes for every additional statement

Part or Full Prepayment

2% of principal prepaid + taxes

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Hinduja Housing Finance Schemes And Top Plans

Hinduja Housing Finance offers a diverse range of financing options to purchase, construct, renovate, improve, or extend a home. These schemes are designed to cater to the varying needs and financial capabilities of borrowers. Have a look at the popular Hinduja housing loan schemes mentioned below:

Hinduja New Property Loan

  • Ideal home loans for buying a residential property
  • Minimal documentation
  • Lower interest rates
  • Easy monthly repayment options

Hinduja Self-Construction Home Loan

  • Ideal home loan for construction on a freehold or leasehold plot allotted by a Development Authority
  • Available only if the customer already owns a plot
  • Loan amount up to 80% of the  property value

Hinduja Resale Home Loan

  • Available for the purchase of an existing Co-operative Housing Society, private build-up home, apartment or a home under Development Authority Settlements
  • Lower interest rates
  • No  hidden charges with customized repayment options

Hinduja Home Extension Loan

  • Perfect housing loan scheme for modifying a home with additional room, balcony, floor, flooring, or tiling
  • Available only to existing home loan customers

Hinduja Composite Home Loan

  • Perfect housing loan to invest in a plot of land for the construction of a house
  • No  hidden charges with customized repayment options
  • Lower interest rates 

Hinduja Home Improvement Loan

  • The most suitable housing loan for renovation, repairs, and upgradation of an existing home
  • Available only for a residential unit that has already been purchased
  • Simple repayment through monthly instalments

Hinduja Balance Transfer Loan

  • Easy way to transfer the outstanding home loan amount to another financial lender
  • Affordable interest rates and customized repayment options
  • No hidden charges

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

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Documents Required For Hinduja Housing Finance

When applying for a housing loan, prospective borrowers are typically required to submit a range of KYC documents to Hinduja Housing Finance Ltd. For your reference, we are now listing down the Hinduja Housing Finance documents required to apply for a Hinduja home loan.

Documents Required for Salaried Applicants

Proof of Income
  • Recent Salary Slips 
  • Recent Form 16
  • Last 6 months Bank Statements
  • Last 2 years Income Tax Returns 
Other Required Documents
  • Thoroughly filled home loan application form
  • Latest passport-size photographs
  • Processing Fee Cheque in favour of Hinduja Housing Finance

Documents Required for Self-Employed Applicants

Proof of Income
  • Recent P&L account statements
  • Last 6 months Bank Statements 
  • Last 2 years Income Tax Returns 
Other Required Documents
  • Thoroughly filled home loan application form
  • Latest passport-size photographs
  • Processing Fee Cheque in favour of Hinduja Housing Finance

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof
  • AADHAAR Card
  • PAN Card
  • Voter ID
Documents Related to Property
  • Thoroughly filled home loan application form
  • Latest passport-size photographs
  • Processing Fee Cheque in favour of Hinduja Housing Finance
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How to Apply for Hinduja Housing Finance?

Your search for an easy home loan can end at Hinduja Housing Finance which offers hassle-free home loans to people dreaming of buying a home. If you are eligible, then you can proceed with the Hinduja Housing Finance apply procedure easily anytime and fro

Apply for a Home Loan Through the BASIC Home Loan website

  • Visit the official website of BASIC Home Loan and click on the ‘APPLY NOW’ section
  • Enter the required details in the form and then click ‘Submit’ 
  • Once submitted the BASIC Home Loan team will contact you for assistance in the Hinduja  home loan application procedure

Find Hinduja Housing Finance Home Loan Offices Near You

Thinking of visiting the nearest branch of Hinduja Housing Finance to apply for a home loan? No need to take this trouble, as you can easily fill out the Free Consultation form, and get a quick response from the BASIC Home Loan team, who will help you with a home loan application with Hinduja Housing Finance. 

Disclaimer:

Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.

FAQs

Yes, Hinduja Housing Finance Ltd. is approved by the Reserve Bank of India (RBI).

At present, Hinduja Housing Finance Home Loan Interest Rate 2024 starts at 10.50% per annum. However, we recommend you confirm the same from the official website of the NBFC. 

Hinduja Home Loan charges a foreclose fee of 2% of the principal prepaid along with applicable taxes. 

Hinduja Housing Finance offers a variety of housing loan schemes such as:

  • Hinduja New Property Loan
  • Hinduja Self-Construction Home Loan
  • Hinduja Resale Home Loan
  • Hinduja Home Extension Loan
  • Hinduja Composite Home Loan
  • Hinduja Home Improvement Loan
  • Hinduja Balance Transfer Loan

The maximum home loan amount offered by Hinduja Housing Finance is up to Rs. 1 crore. 

Applicants can reduce home loan interest in Hinduja Housing Finance by:

  • Prepaying the loan
  • Maintaining a good credit score
  • Opting for a floater rate package
  • Making a higher down payment
  • Negotiating the interest rate

Hinduja Housing Finance prefers a CIBIL score of a minimum of 700 from home loan applicants.