Satin Housing Finance
With a mission to enable the semi-urban and rural community to build their dream home, Satin Housing Finance offers home loans at an affordable rate of interest starting at 9% per annum. Eligible applicants can apply for loans for a maximum tenure of 20 years. The NBFC’s processing fee is applicable at the discretion of Satin Housing Finance Limited and may be subject to revisions from time to time.
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Satin Housing Finance Highlights
Get the lowest interest rates with Satin Housing Finance
| Loan Amount | Up to Rs. 40 lakhs |
|---|---|
| Rate of Interest | 9% p.a. onwards |
| RPLR | |
| Processing Fee |
Applicable as per company policy and subject to timely revisions |
| Maximum Tenure for Repayment | 20 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/Floater |
| Charges for Prepayment/Foreclosure |
Satin Housing Finance Interest Rates in 2024
Satin Housing Finance's rate of interest starts at 9% p.a. and may go up to 25% for different products that the NBFC offers.
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Salaried | 11% - 18% p.a. |
| Self-employed | 12% - 18% p.a. |
Interest rates were last updated on 1st May 2024
Satin Housing Finance Eligibility Criteria
Home loan applicants with Satin Housing Finance must meet certain eligibility criteria before being considered for a loan. The table below highlights the common Satin home loan eligibility criteria:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21 - 70 | 21 - 70 |
| Nationality | Indian Residents/NRIs/PIOs | Indian Residents/NRIs/PIOs |
| Minimum Income Earned |
Satin Housing Finance Processing Fee and Charges
Satin home loan processing fee is applicable by company policy and may be revised from time to time. This fee is not refunded once the loan is approved by the NBFC.
The table below highlights the updated processing fees and other charges for Satin Housing Finance in 2024:
| Processing Fee | Applicable as per company policy and subject to timely revisions |
|---|---|
| Overdue charges | 2% per month on outstanding dues |
| Cheque replacement charges | Rs. 250 + applicable taxes |
| Conversion charges | As applicable |
| Non-encumbrance certificate | As per actual expenses |
| Foreclosure statement charges | Rs. 500 + applicable taxes |
| Duplicate no dues certificate | Rs. 250 + applicable taxes |
| Visit charges for collection of dues | Rs. 500 + applicable taxes |
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Satin Housing Finance Schemes and Top Plans
Some of the top plans and schemes offered by Satin Housing Finance to its customers are:
Home Construction Loan
- Maximum loan repayment period of 20 years
- Total loan amount of up to Rs. 40 lakhs
- Competitive rate of interest
Home Improvement Loan
- Maximum loan repayment period of 20 years
- Total loan amount of up to Rs. 40 lakhs
- Competitive rate of interest
Home Purchase Loan
- Maximum loan repayment period of 20 years
- Total loan amount of up to Rs. 40 lakhs
- Competitive rate of interest
Home Extension Loan
- Maximum loan repayment period of 20 years
- Total loan amount of up to Rs. 40 lakhs
- Competitive rate of interest
Note: All of the above home loan plans are made available to applicants solely at the discretion of Satin Housing Finance, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required for Satin Housing Finance
Satin Housing Finance demands all home loan applicants submit a set of documents as part of the loan application process. These include:
Documents Required for Salaried Applicants
- Salary slips for the previous 3 months
- Bank statements for last 6 months
- Latest Income Tax Return/Form 16
- Duly filled application form
- Recent passport-sized photographs
- Processing fee cheque in favor of Satin Housing Finance
- Proof of ID and address
Documents Required for Self-Employed Applicants
- ITR filed for the last 3 years
- Profit & Loss and Balance Sheets for the last 3 years
- Bank statements for the last 6 months
- Duly filled application form
- Recent passport-sized photographs
- Processing fee cheque in favor of Satin Housing Finance
- Proof of ID and Address
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 Satin Housing Finance Offices Near You
Just fill out the free consultation form with the BASIC Home Loan team and get the required support to apply for a Satin Housing Finance home loan. It’s really that simple.
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
The rate of interest for Satin Housing Finance starts from 9% per annum onwards.
The easiest way to increase your eligibility for a home loan with the NBFC is to add a co-applicant who is earning an income. This is because Satin Housing Finance takes into consideration income as a key eligibility factor.
No, you are not required to select a property before applying for a home loan with Satin Housing Finance.
You can check the status of your home loan application either on the official website of Satin Housing Finance or by connecting with the BASIC Home Loan team for guided assistance.
The NBFC offers a total loan amount of up to Rs. 40 lakh for a maximum repayment tenure of 20 years at a rate of interest starting from 9% p.a.
Different home loan applications may have different processing times; however, it generally takes about 3-4 weeks for a home loan application to be processed.