Aadhar housing Finance Loan Against Property
Mortgage loans from Aadhar Housing Finance come with a number of advantages. We have you covered whether you are a paid person or a self-employed professional. A Loan Against Property (LAP) with Aadhar Housing Finance is available to salaried individuals up to a maximum of 25 lakhs. If you work for yourself, you can borrow up to Rs. 1 crore against home or commercial property. You can choose customizable terms with a 15-year maximum for loans secured by residential and commercial property. However, the maximum loan term is limited to the age of retirement for salaried borrowers and 70 years for self-employed borrowers at loan maturity. Loan for Non-Residential Property Construction
Features & Benefits of Aadhar Housing Finance Loan Against Property
Aadhar Housing Finance Ltd. is a housing finance company that prides itself on helping people from all walks of life to fulfil their dream of owning a home by providing them with attractive loan options. It serves people making as little as INR 5,000 per month in wages. The salaried applicants for an Aadhar Housing Finance Loan Against Property include teachers, police officers, members of the armed forces, and employees of private companies, government agencies, and railroads in grades III and IV. While Kirana shop owners, small vendors, plumbers, and carpenters, along with those working in the business of textiles, stationery, books, apparel, mobile and others, are included on the company's list of self-employed home loan customers.
The following is a list of features and benefits of Aadhar Housing Finance LAP include the following:
- Individual or collaborative applications for the loan are accepted.
- Under the Pradhan Mantri Awas Yojna, applicants may receive housing loan subsidies.
- Loan terms of up to 30 years are available to customers.
- Private employees, government personnel teaching third and fourth grade, instructors, and law enforcement officers, among others, may apply for the loans.
- To qualify for a home loan from Aadhar Housing Finance, you must earn at least Rs. 5,000 per month in income.
Eligibility Criteria and Factors Affecting Aadhar Housing Finance Loan Against Property Eligibility
The following eligibility requirements for Aadhar Housing Finance Loan Against Property are subject to change depending on the profession:
- Maximum loan amount: 80% of the property value.
- Maximum loan term: up to 20 years, or until the borrower reaches age 60, whichever comes first.
- Processing Fee: Up to 1.5% of the loan's total amount plus GST
- Application process - Individual or joint home loans are possible.
- Governmental and private-sector salaried workers are eligible for mortgage loans.
- Maximum loan amount: 80% of the property's value.
- Maximum house loan term is 20 years, although the term cannot exceed 65 years for the applicant.
- Processing Fee: Up to 1.5% of the loan's total amount plus GST
- You may apply for a house loan on your own or add your spouse or other family members to the applicant list.
Aadhar Housing Finance Loan Against Property Interest Rates
When applying for any loan facility, the applicant's primary concern is the interest rate. Affordable interest rates automatically aid your ability to repay your loan. The amount of the EMI will increase as the interest rate does. Personalised Aadhar Housing Finance home loan interest rates make your repayment burden easier.
Some of the key information regarding the Aadhar Housing Finance Home Loan Against Property is shown in the table below:
|Minimum Loan Amount||On Request of the Applicant|
|Maximum Loan Amount||Rs. 1,00,00,000 (80% of the overall cost of property)|
|ROI (%)||11.75%-17.00% p.a.|
|Tenure of Loan (Max.)||Up to 30 years|
|Fees and Charges||Rs 3,500 + applicable GST|
Factors affecting Aadhar Housing Finance Loan Against Property interest rates
The significant factors which affect the Aadhar Housing Finance Loan Against Property are as follows:
- MCLR Rates
- Interest Types
- Ratio of Loan-to-Value
- Credit Score
- Property Location
- Work Profile
- Loan Tenure
Documents Required for Aadhar Housing Finance Loan Against Property
The table below lists the required documentation for both salaried and self-employed applicants to avail of an Aadhaar Housing Finance LAP.
|Document Type||Salaried Applicants||Self-Employed Applicants|
|ID Proof (Photo)||Passport, Voter Id, PAN Card, Aadhar Card or Driving License||Passport, Voter Id, PAN Card, Aadhar Card or Driving License|
|Proof of Address||Electricity Bill, Telephone Bill, Pass Book with Address, Passport, Bank Statement or Ration Card||Electricity Bill, Telephone Bill, Pass Book with Address, Passport, Bank Statement or Ration Card|
|Proof of Income||3 Month Pay Slip, Pass Book of last six months, or Statement of bank account||Last one-year bank statement, Copy of Partnership Deed, Tax Challan (self-attested), Certificate of Tax Deduction, or ITR for the past three years, together with a balance sheet and three years' worth of profit and loss accounts, attested by a CA|
|Profile of the Company||Only if you are working in a less prominent organisation||NA|
How the EMI Calculation Works for Aadhar Housing Finance Loan Against Property?
The EMI calculation for Aadhar Housing Finance LAP is straightforward and will inform you of the monthly payment due on a mortgage. The calculator uses the EMI to calculate the loan amount, loan term, and interest rate. As a result, if you want to borrow INR 15 lakhs at an interest rate of 11%–14.50% from Aadhar Housing Finance, you will need to make periodic payments of the amount listed below:
Below is a table displaying EMI, Interest Cost, and Total Amount of Repayment:
|Amount of Loan (Rs.)||Rate of Interest (ROI%)||Tenure of Loan||Instalments (Monthly)||Interest||Total Amount|
Total Interest Outlay, Principal Repayment, and Interest-Only Monthly Instalment
|No. of Years||Principal Amount||Interest (Total Amount)||Amount (Balance)|
|1||₹ 80,703||₹ 1,82,248||₹ 14,19,296|
|2||₹ 91,345||₹ 1,71,606||₹ 13,27,950|
|3||₹ 1,03,389||₹ 1,59,562||₹ 12,24,561|
|4||₹ 1,17,022||₹ 1,45,930||₹ 11,07,538|
|5||₹ 1,32,452||₹ 1,30,500||₹ 9,75,086|
|6||₹ 1,49,916||₹ 1,13,035||₹ 8,25,169|
|7||₹ 1,69,684||₹ 93,267||₹ 6,55,485|
|8||₹ 1,92,058||₹ 70,894||₹ 4,63,427|
|9||₹ 2,17,382||₹ 45,570||₹ 2,46,045|
|10||₹ 2,46,270||₹ 16,907||₹ 0|
How does Aadhar Housing Finance Compare with Other Lenders?
The table below showcases the comparison of interest rates offered by Aadhar Housing Finance LAP against other lenders.
|Lender's Name||Rs. 30 Lakh or Less||Above Rs. 30 Lakh to Rs. 75 Lakh||Above Rs. 75 Lakh|
|SBI||8.75% - 9.50%||8.75% - 9.40%||8.75% - 9.40%|
|HDFC||8.65% - 10.00%||8.65% - 10.25%||8.65% - 10.35%|
|LIC Housing Finance||8.30% - 10.00%||8.30% - 10.20%||8.30% - 10.40%|
|ICICI Bank||8.75% - 9.85%||8.75% - 9.85%||8.75% - 9.85%|
|Kotak Mahindra Bank||8.65% onwards||8.65% onwards||8.65% onwards|
|PNB Housing Finance||8.75% - 13.00%||8.75% - 13.00%||8.85%-12.20%|
|Punjab National Bank||8.60% - 9.35%||8.55% - 9.25%||8.55% - 9.25%|
|Bank of Baroda||8.60%-10.35%||8.60%-10.35%||8.60%-10.60%|
|Union Bank of India||8.60% – 10.50%||8.60% – 10.70%||8.60% – 10.70%|
|IDFC First Bank||8.75% onwards||8.75% onwards||8.75% onwards|
|L&T Housing Finance||8.40% - 8.60%||8.40% - 8.60%||8.40% - 8.60%|
|Bajaj Housing Finance||8.70% onwards||8.70% onwards||8.70% onwards|
|Godrej Housing Finance||8.39% - 10.99%||8.39% - 10.99%||8.39% - 10.99%|
|Tata Capital||8.95% onwards||8.95% onwards||8.95% onwards|
Aadhar Housing Finance Loan Against Property Customer Care Number
A borrower may find themselves entangled in the maze of loan against property. Thanks to Aadhar Housing Finance customer service, any issues related to Aadhar Housing Finance LAP can be resolved quickly and hassle-free. A borrower can reach out to customer care with the following help.
Mumbai - Corporate Office
Aadhar Housing Finance Ltd. Unit No. 802, Natraj Rustomjee, Western Express Highway and M.V.Road, Andheri (East), Mumbai – 400069
Bengaluru - Registered Office
2nd Floor, No. 3, JVT Towers, 8th A Main Road, Sampangi Rama Nagar, Hudson Circle, Bengaluru, Karnataka, India- 560027.
For New Home Loan Enquiry- Give a missed call to 8888899953
For Existing Customers- 180030042020
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Aadhar Housing Finance's Other Products
Loan Against Property By Other Banks
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- InCred Financial Services Loan Against Property
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- Reliance Capital Loan Against Property
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- Capital First Ltd. Loan Against Property
- Home First Finance Company Loan Against Property
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- Fullerton India Loan Against Property
- Tata Capital Financial Services LTD Loan Against Property
- IIFL Finance Loan Against Property
- Edelweiss Financial Services Loan Against Property
- DCB Bank Loan Against Property
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- Cholamandalam Finance Loan Against Property
- HSBC Loan Against Property
- Emirates NBD Loan Against Property
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From refinancing to reducing your interest, we have the answers right here.
What is the interest rate of Aadhar Housing Finance LAP?
The interest rate of the Aadhar Housing Finance Loan Against Property ranges from 11.75% to 17%.
Does Aadhar Housing Finance have a fixed interest rate on loans against the property?
The interest rate of loans against property in Aadhar Housing Finance ranges from 11.75% to 17%.
How to check a loan against property Status in Aadhar Housing Finance?
One can check the status of the loan against the property by visiting the official website of Aadhar Housing Finance.
Does Aadhar Housing Finance Check for CIBIL Score for loans against the property?
Aadhar Housing Finance checks CIBIL scores for Loans against the property.
What is the maximum and minimum loan against property amount I can get from Aadhar Housing Finance?
The Loan Against Property (LAP) with Aadhar Housing Finance is available to salaried individuals up to 25 lakhs. If you work for yourself, you can borrow up to Rs. 1 crore against home or commercial property.
What are the KYC documents I will have to submit to apply for a loan against property from Aadhar Housing Finance?
The KYC documents that one needs to submit for a loan against property from Aadhar Housing Finance vary for salaried and self-employed applicants.
What is the processing fee on the Aadhar Housing Finance loan against property?
The processing fee on the Aadhar Housing Finance loan against property is Rs. 3000 + GST and other charges.
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