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
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
- Recent Salary Slips
- Recent Form 16
- Last 6 months Bank Statements
- Last 2 years Income Tax Returns
- 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
- Recent P&L account statements
- Last 6 months Bank Statements
- Last 2 years Income Tax Returns
- 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 |
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| Documents Related to Property |
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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.
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.