Godrej Housing Finance Home Loan Interest Rates

Godrej Housing Finance
4.5

Godrej Housing Finance offers customised home loan solutions with interest rates starting at 8.39% per annum. The repayment tenure for these loans ranges from 30 years. Godrej provides a parallel funding option for staggered down payments to make home loans more affordable. You can obtain a loan of Rs. 30 lakhs up to 75% of the property value.

  • Godrej Housing Finance Home Loan Interest Rate

    Home Loan offer for You

  • 8.55%

    Interest Rate (p.a.)
  • ₹5L - ₹2Cr

    Tenure(1 - 30 Years)
  • ₹2,054

    EMI Per Lakh

Check Latest Home Loan Offer From Godrej Housing Finance

  • Godrej Housing Finance Home Loan Interest RateHome Loan offer for You
  • 8.55%

    Interest Rate (p.a.)
  • ₹5L - ₹2Cr

    Tenure(1 - 30 Years)
  • --

    Processing Fee

Compare Godrej Housing Finance Home Loan Interest Rates with Other Lenders

Before securing a home loan from Godrej Housing Finance; the applicant must compare the offered interest rates to the ones provided by other lenders to understand how much they can save on the deal.

The following table showcases how Godraje Housing Finance home loan interest rates compare 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

Godrej Housing Finance (GHF) provides home loans for up to 30 years, starting at 8.64% per annum. They have unique features such as "Design your EMI" and "Flexible Payment Plan" for home loans taken for under-construction properties. GHF also offers "EMI Break" for convenient loan repayments and "Parallel Funding" to make home loans more affordable with staggered down payments.

Existing home loan borrowers from other lenders can transfer their balance to GHF and receive top-up home loans for added benefits. Balance transfer applicants can also use the "EMI Break" facility for the first three years of their tenure.

Key Highlights of Godrej Housing Finance

Home Loan Interest Rate  Starting from 8.64% per annum onwards
Loan Amount The amount can vary from 5 lakhs to 2 crores, per the applicants’ credit profile. 
Repayment Tenure Up to 30 years
Processing Charges Up to 3% of the approved loan amount

Godrej Housing Finance Home Loan Schemes

To cater to versatile client requirements, Godrej Housing finance offers various home loan schemes. The interest rates on these schemes vary from one to another. 

Godrej Home Loan

Godrej offers a standard home loan scheme for purchasing or constructing a house, as well as for home renovation, improvement, or extension purposes. For under-construction properties, the Godrej home loan comes with unique features such as "Design your EMI" and "Flexible Payment Plan." Additionally, the loan offers an "EMI Break" feature for convenient repayment and "Parallel Funding" for staggered down payments, making it more affordable.

Maximum Home Loan Amount: The lender evaluates the applicant's credit profile to determine the offered loan amount. However, the home loan amount provided under this scheme ranges from 5 lakhs to 2 crore.

Loan Repayment Tenure: Up to 30 years.

Godrej Plot Loan

Plot Loan is one of the finest home loan schemes offered by Godrej Home Finance. An individual can avail of a plot loan to finance the purchase of a residential plot.

Maximum Loan Amount: The applicant can get 80% of the plot value as a plot loan at maximum.

Loan Repayment Tenure: Up to 30 years

Godrej Home Loan Balance Transfer

Godrej Housing Finance provides a balance transfer facility that allows individuals with existing home loans from other financial institutions to transfer them to Godrej Housing Finance at lower interest rates.

Maximum Loan Amount: Up to INR 30 lakh

Repayment Tenure: Up to 30 years

Godrej Housing Finance Home Interest for Salaried and Self-Employed

Godrej Housing Finance offers home loans to both salaried and self-employed individuals. However, the offered home loan interest rates might vary for both categories from one applicant to another.

The below-depicted table showcases Godrej Housing Finance home loan interest rates for salaried and self-employed individuals:

Category Home Loan Interest Rates
For Salaried Loan Applicants  Starting from 8.64% per annum onwards
For NRI Loan Applicants (Salaried) Starting from 8.64% per annum onwards
For Self-Employed Loan Applicants (Business Professionals) Starting from 9.14% per annum onwards
For Self-Employed Loan Applicants (Practicing Professionals) Starting from 9.14% per annum onwards

Godrej Housing Finance Home Interest for Govt Employee

Godrej Housing Finance provides home loans to Govt employees at affordable interest rates starting from 8.64% per annum onwards. The lender finds government employees less risky as there are few chances of losing jobs or fixed income. There are negligible chances that the borrowers will skip their monthly instalments. 

Godrej Housing Finance Home Loan Interest Rate For Women

Godrej Housing Finance home loans are available for women applicants too. The loan is available only for working or self-employed women applicants. However, Godrej Housing Finance doesn't offer any concession in terms of home loan interest rates to the women applicants. The proposed interest rates are based on the applicant's credit profile and financial stability. 

Godrej Housing Finance Home Loan Interest Rate For NRI

The financial institution offers home loans to NRI to purchase residential and commercial property in India. However, the home loan schemes are available only for salaried NRI applicants with an interest rate of 8.64% per annum.

Godrej Housing Finance Home Loan Interest Rate and Other Charges

Godrej Housing Loans charges customers a processing fee at the time of loan disbursal. The loan amount determines the processing fee of either 2% or 3%. Customers opting for a flexible loan will pay 3% of the loan amount as the processing fee. In addition to the processing fee, customers may incur other charges such as INR 1000 for missed EMIs, 2% of the outstanding EMI as "penal charges" for late payments, and a fee of INR 500 for cheque or NACH swaps.

How EMI Calculation Works for Godrej Housing Finance Limited Home Loan?

To calculate Equated Monthly Instalment or EMI, borrowers can use an EMI Calculator, a simple online tool. It helps in determining the number of monthly payments that need to be made by the borrower.

Additionally, you can rely on the mathematical formula to compute the values, i.e. 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

  • P is the loan amount
  • R is the interest rate per annum
  • N is the repayment tenure. 

Why are Godrej Housing Finance Home Loan Interest Rates the Best for Customers?

Godrej Housing Finance offers some of the best home loan interest rates in the market, which is beneficial for customers for several reasons:

  • Affordable monthly EMIs: With low-interest rates, customers can avail of a home loan with affordable monthly EMIs, making it easier for them to manage their finances.
  • Flexibility in loan repayment: Godrej Housing Finance provides flexible repayment options, which allow customers to choose a repayment tenure that fits their financial situation and budget.
  • Transparent policies: Godrej Housing Finance follows transparent policies, providing complete details about the loan process, interest rates, and other charges to help customers make informed decisions.
  • Quick loan disbursal: Godrej Housing Finance has a fast loan approval and disbursal process, ensuring customers can access funds on time.

Godrej Housing Finance Interest Rates for Existing Customers

Godrej Housing Finance offers attractive interest rates for existing customers from 8.64% onwards.

Factors that Affect Godrej Housing Finance’s Home Loan Interest Rate and EMI

The listed factors affect Godrej Housing Finance's home loan interest rate and EMI:

  • Credit score: The interest rate offered by Godrej Housing Finance revolves around the customer's credit score. A higher credit score can result in a lower interest rate, while a lower credit score may lead to a higher interest rate.
  • Loan amount and tenure: The interest rate charged by Godrej Housing Finance may vary depending on the loan amount and term. A higher loan amount or longer repayment tenure may result in a higher interest rate.
  • Income and employment stability: The income and employment stability of the customer are also considered when determining the home loan interest rate. A stable income and employment history can lead to a lower interest rate.
  • Property location and type: The location and type of the purchased property can also affect the interest rate charged by Godrej Housing Finance. Properties in prime locations or higher resale value may result in a lower interest rate.

Frequently Asked Questions (FAQs)

Does Godrej Housing Finance provide a 90% home loan?

Godrej Housing Finance provides a maximum of 80% of the home value as a home loan.

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

The EMI for a 30 lakhs home loan for 20 years entirely depends on the offered interest rate, borrowed loan amount and repayment tenure.

How can I reduce my Godrej Housing Finance home loan interest rate?

To reduce your Godrej Housing Finance home loan interest rate, consider making a significant down payment to reduce the monthly repayments and EMIs. Additionally, start working on making sound financial habits at least a year before applying for a home loan.

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