India Shelter Home Loan

“Big or small, your own house is always your own”. This is the belief that IndiaShelter Finance Corporation tries to embed in the minds of the people, encouraging numerous residents of the country to apply for easy and comfortable home loans and realize their dreams of home ownership.

The interest rates are competitive, the processing fees minimal, and the loan repayment tenures achievable. All of this and many more features make India Shelter home loan options worth considering for numerous citizens of the country. Read more to learn all about the key characteristics of its housing finance product. 

India Shelter Home Loan EMI Calculator

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1 Lac10 cr

Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

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India Shelter Home Loan Key Highlights

Get the lowest interest rates with India Shelter Housing Finance

Loan Amount Rs. 5 lakhs to Rs. 50 lakhs
Rate of Interest 10.50% - 20% p.a.
Processing Fee

Up to 2.5% (GST not included)

Maximum Tenure for Repayment Up to 20 years
Penal Rate of Interest
Rate Packages
Charges for Prepayment/Foreclosure 0-6%

India Shelter Home Loan Interest Rates in 2024

India Shelter believes in making housing affordable for every person in the country. Keeping in line with its motto, the NBFC offers market-competitive interest rates to its home loan applicants. India Shelter home loan interest rate starts from 10.5% p.a.

Loan Slab Interest Rate for Home Loan
For Salaried Employees 10.50% - 20.00% p.a. 
For Self-Employed Applicants 10.50% - 20.00% p.a. 

Interest rates were last updated on 22nd September 2023

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India Shelter Home Loan Eligibility Criteria

Loan applicants for housing with India Shelter must match up to certain specific requirements laid out by the NBFC. For your reference, some of the standard India Shelter home loan eligibility criteria are listed below:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 23-65 years 23-65 years
Nationality Resident Indian Resident Indian
Minimum Income Earned

India Shelter Housing Loan Processing Fee and Charges

India Shelter levies a certain amount of charge on its customers applying for home loans with the NBFC. This charge is to facilitate the company to cover the cost of processing the home loan application. Listed below are the India Shelter home loan processing fee and some other charges that the NBFC levies on its home loan applicants:

Processing Fee

Up to 2.5% (GST not included)

Prepayment Charge
  • Fixed-Rate Loans: Nil for home loan amount prepaid via other sources
  • Within 2 years of disbursing the last EMI: 6% of the paid loan amount + GST applicable 
  • After 2 years of disbursing the last EMI: 4.5% of the paid loan amoun
Administrative Charges

Rs. 1,000 + GST

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India Shelter Home Finance Schemes and Top Plans

The NBFC offers home loans for varied purposes that help applicants to meet their different needs. Some of the most popular types of home loan options available at India Shelter Housing Finance are detailed below:

1. Home Construction Loan

  • Can be availed for a maximum duration of up to 20 years
  • The total loan amount ranges between Rs. 5 lakhs and Rs. 50 lakhs
  • Generally taken to construct a new house on a plot as per your preference 

2. Home Improvement Loan

  • Generally offered to facilitate repairs to an existing residential property, both within the house and outside
  • Competitive rate of interest offered for applicants

3. New House Purchase Loan

  • Enables easy buying of a ready-to-move-in new house 
  • Processing fee on loan application charged up to 2.5% (GST not included)

4. Loan Against Property

  • Easy repayment of loan amount every month
  • Ideal for individuals with minimum proof of income to avail of a loan facility 
  • Rates of interest are generally higher than those on home loans since the objective of the loan is not for housing

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

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Documents Required for India Shelter Home Loan

India Shelter offers home loans to its customers without putting them through the hassle of gathering and submitting unnecessary and irrelevant documents. The company provides home loan facilities with minimal documentation required, both from salaried and self-employed applicants. Listed below are some of the standard acceptable India Shelter home loan documents required from both categories of applicants:

Documents Required for Salaried Applicants

Proof of Income
  • Form-16 of the last 2 years
  • Bank statements from the last 6 months
  • Pay slips from the previous 3 months
Other Required Documents
  • Valid passport
  • PAN card
  • Statutory authority certificate  
  • Driving license
  • Aadhaar card
  • Utility bills
  • Voter’s ID
  • Ration card

Documents Required for Self-Employed Applicants

Proof of Income
  • Bank account statement from last 1 year
  • Proof of income related to business
  • Proof of ITR filed
  • Balance sheet certified by a professional chartered accountant
  • ITR for the previous 3 years
Other Required Documents
  • Valid passport
  • PAN card
  • Statutory authority certificate
  • Driving license
  • Aadhaar card
  • Utility bills
  • Voter’s ID card
  • Ration card

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

Documents Related to Property
  • Copy of Sale Agreement/Copy of Buyer Agreement (whichever is applicable)
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How to Apply for India Shelter Home Loan?

You can now submit your home loan application to India Shelter sitting at home with a single click. Listed below are the simple instructions to apply for a home loan on India Shelter:

  • Apply for a home loan on the BASIC Home Loan portal.
  • A form needs to be filled out with complete relevant details of the applicant, including your name, contact details, and the like.
  • Once completed, submit the form by hitting the ‘Submit’ button.
  • The BASIC Home Loan team representative will contact you at the earliest and initiate the India Shelter home loan application process for you. 

Find India Shelter Home Loan Offices Near You

If you’re interested in availing a home loan facility at India Shelter Housing Finance Company, you may visit a branch of the NBFC near you. India Shelter Home Loan operates in all major Indian cities. To apply for a home loan with the NBFC, you can also connect with a team member of BASIC Home Loan. Our representative will then contact you shortly and guide you through the home loan application process.


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.


The interest rate on home loans at India Shelter ranges between 10.5% and 20%. The interest rates are generally higher for home equity loans or loans against property.

The various types of home loans on offer at India Shelter include home extension loans, loans for buying a new house, home construction loans, and home renovation loans.

India Shelter offers loans up to a maximum amount of Rs. 50 lakhs.

The pre-closure charges levied by the company range between 0% and 6%.

The easiest way to calculate the EMI for a home loan availed from India Shelter is to use the House Loan EMI calculator, an online tool conveniently available on the NBFC’s official website. The calculator helps compute the installment to be paid on the loan amount with ease.

The NBFC generally claims to process home loan applications and grant approval within 5 business days of receiving the application.

A credit score that is higher than 750 is generally considered good and acceptable by India Shelter for granting home loans to applicants.

Generally speaking, 100% housing finance is not provided by any bank/NBFC in India. The common maximum limit up to which most banks and NBFCs in the country offer home loans to applicants is 90% of the desired loan amount.