Aditya Birla Home Loan - Features, Documents and Charges


You build your memories at your cherished home where you reside and nurture your family. Your own home is your sanctum of solace, the security that it offers is unmatched to several other luxuries of the world. To buy a house today could seem daunting owing to the exponential increase in prices of real estate properties. Home buyers are often faced with the dilemma of choosing the right home loan option to finance their new house. Each buyer wants to avail of an option that is least complicated and can be paid off without any hassles.


Aditya Birla Captial offers Home Loan that is specifically designed to cater to your housing finance needs. Creating a space of your own has now become more accessible with Aditya Birla Home Loans that offer customised facilities and services. These loans are tailor-made for salaried individuals and self-employed professionals. They come with attractive rates of interest and longer tenure.

Here’s all you need to know about Aditya Birla Home Loan:

Features of Aditya Birla Home Loan
  • Lucrative interest rates: 8.85% to 8.90% (for salaried individuals) and 8.90% to 11.75% (for self-employed).
  • Longer tenure of the loan: Up to 30 years (depending on the applicant’s age, remaining working years, and loan amount).
  • Swift, and transparent loan process.
  • Zero charges on pre-payment for floating Interest Rate Home Loans.
  • Availability of Home Loan Balance Transfer facility with attractive benefits  
  • Doorstep services

Aditya Birla Home Loan Eligibility

The applicant must be:
  • Minimum 21 years of age at the time of applying for the loan.
  • Maximum 60 years of age (if salaried) and 70 years (if self-employed) at the time of loan maturity.
  • The loan-to-value offered by Aditya Birla Home Loan for property purchase is as below:

Loan amount up to Rs. 30 Lakhs
Loan amount of Rs. 30 Lakhs - 75 Lakhs
Loan amount above Rs. 75 Lakhs
90% of the value of the property
80% of the value of the property
75% of the value of the property

Documents Required to Apply for Aditya Birla Home Loan

You will require following documents in addition to the duly signed Application Form when applying for Aditya Birla Home Loan:

Type of Document
Salaried Individuals
Self-employed/Partnership/ Company/Professional
Identity and Address Proof
  • Passport
  • Voter’s ID
  • Driving License
  • Job Card issued by National Rural Employment Guarantee Act (NREGA)
  • Aadhaar Card
  • Registration Certificate
  • PAN Card (only for identity proof)
  • Any other document (acceptable by Aditya Birla Capital)
Income Proof
  • Last 3 months’ Salary Slips showing all deductions 
  • Form 16
  • Financial documents/ IT Returns for last 2 years
  • Income Computation for the past 2 years certified by a Chartered Accountant
Bank statement of the bank where income/salary is credited
  • Last 6 months

Proof of any other income
  • Rent Receipts/ documents showing receipt of income

Property Documents
  • Copy of title documents
  • Approved sanction plan

Fees and Other Charges

Below is an indicative list of charges you may have to pay for Aditya Birla Home Loan:

Types
Charges
Loan Processing Fee​ or Administration Fee
Maximum 1% of the sanctioned loan amount 

Charges for Part-Payment/ Pre-Closure of Loan:

Any part pre-payments done in the last 1 year before loan closure date will involve pre-closure charges (applicable for non-individuals as well as individuals having other than floating interest rate)
·          
  • Floating rate loans to individuals: Nil​
  • Home Loans (except for floating rate home Loans to individuals): 2% of the outstanding principal amount
  •  
Default penal interest rate or failure to conform to any covenants/stipulated conditions 

·         24% per annum (2% per month)
Charges for NACH Failure
Rs. 750 per instance
Accrued Interest
As applicable and communicated by the lender
CERSAI charges (Visit www.cersai.org.in for all details)
  • For the facility amount equal to or lesser than Rs. 0.5 Lakhs – Rs. 0.50 for per property
  • For the facility amount above Rs. 5 Lakhs – Rs. 100 for per property

Quote for Pre-closure
Rs. 1,000 per instance
Request to obtain copies of any collateral held with the bank
Rs. 750 per instance
Request for a  Repayment Schedule/ Duplicate Statement/ any other document held with the bank
Rs. 750 per instance
Charges for ECS failure or Returned Cheque
Rs. 750 per instance
Fee for retrieval of CIBIL report
  • Rs. 50 per instance for Customer
  • Rs. 500 for Commercial CIBIL
Charges for Loan Re-schedule
0.50%
Charges for NOC Issuance
Rs. 500
Cancellation charges if applicable
4% of the disbursed loan amount
Charges for swapping the product
2% of the outstanding loan amount
  • Stamp Duty​
  • Legal
  • Other Statutory Costs
  • Insurance Premium
  • ​Creation charge for Registration of Charge (ROC)

As per actuals (if applicable)

GST at 18% will be applicable and levied on all the above fees. The said charge is a block of the rate for all customers. Actual costs, if different for any customer will be communicated when the loan is sanctioned and disbursed and could be subject to change from time to time.
Now that you are aware of the key features, documents and charges associated with the Aditya Birla Home Loan, it is time you gave a thought to turn your dream into a reality. Speak to our Mortgage Specialists for more information regarding Home Loans.

No comments:

Powered by Blogger.