Aditya Birla Finance Home Loan Interest Rates

Aditya Birla Finance Limited
4.5

Aditya Birla Housing Finance Limited offers various home loans to accommodate customers’ requirements. These schemes are crafted to fulfil an individual's dream of owning a house. The interest rate for salaried applicants ranges from 8.75% to 14.00% pa, and self-employed applicants range from 9.00% to 14.50% pa. A minimum of INR 5 lakhs can be availed for a repayment tenure of up to 30 years.

  • Aditya Birla Finance Limited Home Loan Interest Rate

    Home Loan offer for You

  • 9.1% - 14.75%

    Interest Rate (p.a.)
  • ₹20L - ₹10Cr

    Tenure(1 - 30 Years)
  • ₹2,081 - ₹2,366

    EMI Per Lakh

Check Latest Home Loan Offer From Aditya Birla Finance

  • Aditya Birla Finance Limited Home Loan Interest RateHome Loan offer for You
  • 9.1% - 14.75%

    Interest Rate (p.a.)
  • ₹20L - ₹10Cr

    Tenure(1 - 30 Years)
  • Up to 3% of the loan amount

    Processing Fee

Compare Aditya Birla Finance Home Loan Interest Rates with Other Lenders

It is important for a borrower to have complete knowledge of the home loan current interest rate offered by various lenders in order to choose the best home loan rates. The task of carrying out this tedious research has been saved. A table has been provided drawing the Aditya Birla Housing Finance Limited home loan interest rates compared with other lenders.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Aditya Birla Housing Finance Limited Home Loan Interest Rates 2024

Aditya Birla Housing Finance Limited offers home loans to dreamers who wish to own a house. The current Aditya Birla Housing Finance Limited home loan interest rate for salaried employees and self-employed applicants ranges between 8.75% to 14.00% pa and 9.00% to 14.50%, respectively. The interest rates can be affected by numerous factors like CIBIL score, LTV ratio, DTI ratio etc.

Go through this guide and gain knowledge of the home loan interest rate in Aditya Birla Housing Finance Limited.

Aditya Birla Housing Finance Limited Home Loan Highlight

A house has four walls, and the home stores the memories within. The highlights of the home loan rate of interest Aditya Birla Housing Finance Limited are given in the following.

  • The floating interest rates are attractive
  • Different schemes are available 
  • The repayment tenure goes up to 30 years
  • Quick disbursal of loan
  • There is no charge for pre-payment of EMIs
  • The facility of a balance transfer is available at competitive interest rates
  • Doorstep services are available 

Aditya Birla Housing Finance Limited Home Interest Rates on Loan Schemes 

The following table lists the current Aditya Birla Housing Finance Limited home loan interest rate on the various schemes offered to the applicants.

ParticularsInterest Rate (Salaried) (pa)Interest Rate (Self-Employed) (pa)Loan Repayment Tenure
Home Extension Loan8.75% to 14.00%9.00% to 14.50%Up to 20 years
Home Improvement Loan8.75% to 14.00%9.00% to 14.50%Up to 10 years
Home Construction Loan8.75% to 14.00%9.00% to 14.50%Up to 20 years
Plot and Home Construction Loan8.75% to 14.00%9.00% to 14.50%Up to 20 years
PMAY and Affordable Housing3.00% to 6.50% 3.00% to 6.50% Up to 30 years

Note: The information mentioned above is dated January 21, 2023.

Aditya Birla Housing Finance Limited Home Interest for Salaried and Self-Employed

Aditya Birla Housing Finance Limited home loan interest rate salaried employee and self-employed applicants are given in the table below:

Home LoansSalariedSelf-Employed
Rate of Interest8.75% to 14.00%9.00% to 14.50%

Note: The interest rates mentioned above are dated January 21, 2023.

Aditya Birla Housing Finance Limited Home Interest for Govt Employee

Aditya Birla Housing Finance Limited home loan interest rate gov employee range between 8.75% - 14.00% pa. Government employees are considered a lesser risk as compared to self-employed applicants. Thus, a discount between 0.25% to 0.50% pa is extended.

Aditya Birla Housing Finance Limited Bank Home Loan Interest Rate For Women

Women seeking a home loan from ABHFL receive a discount of 0.05% to 0.10% pa. The Aditya Birla Housing Finance Limited home loan interest rate women range between 8.65% and 14.40% pa. Women also enjoy the benefit of longer repayment tenure, lower stamp duty, simple eligibility criteria, less documentation and additional tax benefits.

Aditya Birla Housing Finance Limited Home Loan Interest Rate and Other Charges

Applicants must go through the following table to be aware of the Aditya Birla Housing Finance Limited home loan rate of interest and other fees and charges.

ParticularsFees and Charges​
Interest Rate
  • Salaried: 8.75% - 14.00%
  • Self-Employed: 9.00% - 14.50%
Loan Processing /Administration Fee​Up to 1% of the loan amount
Part Payment/Pre-Closure Charges: Any part pre-payments made in the last 12 months prior to closure will be counted towards the pre-closure charges (applicable for non-individuals/ individuals with other than floating rate)
  • Floating rate loans given to indivi​duals, where all applicants and co-applicants are individuals: Nil​
  • Home Loans (other than floating rate Home Lo​ans to individuals): 2% of principal outstanding
Other Charges: Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions24% p.a., i.e., 2% per month
NACH failure chargesINR 750/- per instance
Accrued InterestAs applicable based on actual delayed status or as communicated by the lender from time to time
CERSAI charges
  • When facility amount is equal to INR 5 lacs or lesser – INR 50 per property
  • When facility amount is greater than INR5 lacs – INR 100 per property
Pre-closure quoteINR 1,000/- per instance
Request for Copies of any collateral held with ABHFLINR 750/- per instance
Duplicate Statement/ Repayment Schedule / any other document held with ABHFL requestINR 200/- per instance
Cheque Return Charges/ECS failure chargesINR 750/- per instance
CIBIL report retrieval feeINR 50/- per instance for Consumer and INR 500/- for Commercial CIBIL
Loan Re-schedulement (at the discretion of ABHFL) charges0.50%
NOC issuance chargesINR 500
Cancellation Charges if any4% of loan amount disbursed
Swap Charges (Fixed or semi-fixed rate to floating and vice-versa at the discretion of ABHFL)2% of the loan outstanding
  • Stamp Duty​
  • Legal and other statutory charges
  • Insurance Premium
  • ​Creation charge with ROC
As per actual, where applicable

Note: The above-mentioned fees and other charges exclude 18% GST. These are dated January 21, 2023.

How to Calculate Aditya Birla Housing Finance Limited Home Loan Interest?

Aditya Birla Housing Finance Limited home loan rate of interest is paid through Equated Monthly Installments (EMIs). It can be calculated either manually or simply by entering the digits in the Aditya Birla Housing Finance Limited home loan interest rate calculator. The mathematical formula used to calculate the EMI is given below:

EMI = (P × r × (1+r)^n)/((1+r)^n-1)

Here,

  • 'P' depicts the principal amount
  • 'r' depicts the interest rate
  • 'n' depicts the tenure of the loan

Why are Aditya Birla Housing Finance Limited Home Loan Interest Rates the Best for Customers?

Aditya Birls Housing Finance Limited (ABHL) is one of the well-known lenders in India. They are appreciated for the competitive interest rates they offer to their customers. The home loan rate of interest Aditya Birla Housing Finance Limited is considered the best for customers. Each scheme and the accompanying rate is curated to help customers achieve their dream of owning a house. The repayment tenure goes up to 30 years, and the eligibility criteria remain attainable.

Home loans at ABHL can be applied for online by salaried employees, self-employed, and business professionals at the best home loan rates ranging from 8.75% to 14% pa and 9% to 14.50% pa. The rates are provided as per the applicant’s eligibility.

Aditya Birla Housing Finance Limited Home Loan Interest Rates for Existing Customers

The existing customers of Aditya Birla Housing Finance get reduced interest rates. The lender is well-versed in the creditworthiness of the applicant as they already have an account which also reduces the excruciating process of applying for a loan. The Aditya Birla Housing Finance Limited home loan interest rate for existing customers ranges between 8.75% to 14.50% pa.

Factors that affect Aditya Birla Housing Finance Limited Home Loan Interest Rate and EMI

The factors affecting Aditya Birla Housing Finance Limited home loan interest rate and EMI are explained below:

Credit Score

The credit score reflects the applicant’s repayment history, financial discipline or habits, and creditworthiness. Applications showcasing low-credit scores are considered a high risk making ABHFL charge a high rate of interest. On the other hand, a high credit score reflects that the applicant is less risky, thus lower interest rates.

Loan-to-Value Ratio (LTV)

The LTV ratio is the percentage of the property value that can be financed with the loan. A larger loan attracts a higher interest rate due to the increased credit risk. A larger down payment can assist in lowering the loan amount and, thus, the interest rate. ABHFL grants a loan of up to 90% of the value of the property.

Occupation

Individuals with a stable income are considered low-risk, whereas those with an unstable income fall in the high-risk bracket. Lower interest rates are offered to those with a stable income, such as salaried professionals, public sector employees, government employees, and employees of leading private sector firms. Self-employed professionals are offered a little higher rate of interest.

Tenure

Be prepared to pay a higher interest rate if you choose a longer repayment term for your home loan because the lender assumes more risks with a longer repayment term than a shorter repayment term. Use the Aditya Birla Housing Finance Limited home loan interest rate calculator to determine the best repayment period for your financial situation.

Loan Repayment

Loan repayment history portrays the debt repayment schedule of the applicant. If a borrower has skipped a payment or turns out to be a defaulter, they are charged a high rate of interest, whereas a clean slate of loan repayments will result in a lower interest rate.

Frequently Asked Questions (FAQs)

What's the interest rate for Aditya Birla Housing Finance Limited?

Aditya Birla Housing Finance Limited home loan interest rate for the month of January 2023 for salaried employees ranges from 8.75% to 14% pa, and for self-employed ranges from 9% to 14.50% pa.

What is the current rate of interest on Aditya Birla Housing Finance Limited's home loan?

The current Aditya Birla Housing Finance Limited home loan interest rate, dated January 2023, for salaried employees ranges from 8.75% to 14% pa and for self-employed ranges from 9% to 14.50% pa.

Does Aditya Birla Housing Finance Limited provide a 90% home loan?

Yes, Aditya Birla Housing Finance Limited provides a home loan of 90% of the property’s value.

What is the EMI for 30 lakhs home loan for 20 years?

The EMI for a home loan amounting to INR 30 lakhs for 20 years at a 10% pa interest rate is INR 28,951.

How can I reduce my Aditya Birla Housing Finance Limited home loan interest rate?

You can reduce your Aditya Birla Housing Finance Limited home loan interest rate by improving your CIBIL score, making timely repayments, getting a home loan balance transfer and opting for regular tenure.

What is the average rate of interest for a home loan in Aditya Birla Housing Finance Limited?

The average rate of interest for a home loan in Aditya Birla Housing Finance Limited ranges between 8.50% – 14.50% pa.

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