Urban Money

Aadhar housing Finance Loan Against Property

Aadhar housing Finance
4.5

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

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Interest Rate

Processing Fee

Rating

Loan Amount/Tenure

Aadhar housing Finance Loan Against Property Interest Rate

Aadhar housing Finance

15% - 17%

2%

4.5

₹2.4L - ₹1Cr

Tenure(1 - 70 Years)

Details

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:

Salaried Applicants

  • 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.

Self-Employed Applicants

  • 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:

Loan Features Details
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
15,00,000 12.45% one ₹1,33,589 ₹1,03,070 ₹16,03,070
15,00,000 12.45% two ₹70,926 ₹2,02,220 ₹17,02,220
15,00,000 12.45% three ₹50,144 ₹3,05,201 ₹18,05,201
15,00,000 12.45% four ₹39,833 ₹4,11,983 ₹19,11,983
15,00,000 12.45% five ₹33,709 ₹5,22,526 ₹20,22,526
15,00,000 12.45% six ₹29,677 ₹6,36,779 ₹21,36,779
15,00,000 12.45% seven ₹26,841 ₹7,54,680 ₹22,54,680
15,00,000 12.45% eight ₹24,752 ₹8,76,158 ₹23,76,158
15,00,000 12.45% nine ₹23,159 ₹10,01,134 ₹25,01,134
15,00,000 12.45% ten ₹21,913 ₹11,29,518 ₹26,29,518

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
Federal Bank 8.60%-9.95% 8.60%-10.00% 8.60%-10.05%

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.

Registered Office-

Mumbai - Corporate Office

U66010KA1990PLC011409

Aadhar Housing Finance Ltd. Unit No. 802, Natraj Rustomjee, Western Express Highway and M.V.Road, Andheri (East), Mumbai – 400069

Bengaluru - Registered Office

456987

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

FAQs

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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