Aadhar Housing Finance Home Loan Interest Rates

4.5

The home loan schemes offered by the Aadhar Housing Finance have a repayment tenure of up to 30 years on a maximum amount of INR 20 lakhs. Applicants can avail of tax benefits under Section 80C of the Indian Income Tax Act. The features of home loans include affordable EMIs, fast and transparent loan procedures and home loans without income proof. The eligibility starts from a monthly income of INR 10,000.

  • Home Loan offer for You

  • 11.75% - 17%

    Interest Rate (p.a.)
  • ₹1L - ₹1Cr

    Tenure(1 - 30 Years)
  • ₹2,212 - ₹2,485

    EMI Per Lakh
  • 11.75% - 17%

    Interest Rate (p.a.)
  • ₹1L - ₹1Cr

    Tenure(1 - 30 Years)
  • Up to Rs 3,500

    Processing Fee

Compare Aadhar Housing Finance Home Loan Interest Rates 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

The interest rate offered by Aadhar Housing Finance is subject to market conditions and may change occasionally. Despite this variability, Aadhar Housing Finance is known for providing some of the most competitive interest rates in the market, making it an attractive option for individuals seeking a home loan. By providing low-interest loans, the company aims to help make the dream of owning a home a reality for more people.

Customer Type Home Loan Interest Rate
Salaried - Home Loan 11.75% to 16.50%
Self-Employed - Home Loan 12.75% to 17.00%
Loan against Property 15.00% to 17.00%

Aadhar Housing Finance Home Loan Highlights 

Aadhar Housing Finance offers home loans for purchase, construction and renovation with the following highlights:

  • Competitive Interest Rates: The company offers competitive interest rates on its home loans, making it an affordable option for borrowers.
  • Minimal Documentation: The home loan application process is simple and requires minimal documentation, making it convenient for borrowers.
  • Flexible Repayment Options: Aadhar Housing Finance offers flexible repayment options, allowing borrowers to choose a repayment plan that suits their financial situation.
  • Doorstep Service: The company provides doorstep service, making it easier for borrowers to apply for and manage their home loans. Wide Reach: Aadhar Housing Finance has a broad reach, making it accessible to individuals nationwide.

Aadhar Housing Finance Home Loan Fees and Charges

The table below shows Aadhaar Housing Finance Home Loan fees and charges:

Fees/Charges Type Amount
Login Fee (Paid along with loan application non-refundable) Up to INR 3500 Plus Applicable GST
Documentation Charges Up to INR.2000/- to INR 5000/- Plus applicable GST
Legal, Valuation and Technical Charges Up to INR 3000/- to INR 5800/- Plus Applicable GST
CERSAI charge creation Charges INR 100/- Plus applicable GST
Subsequent Technical Verification (Only In Construction Cases) Rs.500/- Plus applicable GST
Cheque/ECS/Direct Debit/ACH Bounce (Per Instrument/Transaction) INR 500/- Plus applicable GST
Overdue Charges on Default Instalment- (EMI/PEMI) 2% on Due amount
Recovery (Legal/Possession & Incidental Charges) as per actual Plus applicable GST
Cheque/ECS/Direct Debit/Ach Swapping (Per Set) INR 500/- Plus applicable GST
Duplicate No Dues Certificate Rs.500/- Plus applicable GST
Copy Of Property Papers Rs.500/- Plus applicable GST

How to Calculate Aadhaar Housing Finance Home Loan Interest Rate?

The interest rate on an Aadhaar Housing Finance home loan can vary based on several factors, including the loan amount, loan tenure, and the borrower's credit score and income. To calculate the interest on your loan, you can use the following formula:

Interest = (Loan Amount * Interest Rate * Loan Tenure) / (12 * 100)

Here,

  • Loan Amount is the amount of money you want to borrow, and Interest
  • Rate is the interest rate offered by Aadhaar Housing Finance.
  • Loan Tenure is the duration of the loan in months, and 12 * 100 is used to convert the interest rate from an annual percentage rate (APR) to a monthly rate.

Note: It's important to note that the interest rate offered by Aadhaar Housing Finance can vary based on several factors and change over time, so it's a good idea to confirm the current rate with the lender before calculating your loan interest.

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

Aadhar Housing Finance offers home loans at competitive interest rates, making it a popular choice among customers. However, whether the interest rates offered by Aadhaar Housing Finance are the "best" for customers depends on several factors, including:

  • Personal financial situation: Each customer's financial situation is unique, and what may be the best interest rate for one person may not be the best for another. Factors such as credit score, income, and debt-to-income ratio can all affect the interest rate that a lender offers.
  • Loan amount and loan tenure: The interest rate offered on a home loan can also vary based on the loan amount and tenure. Higher loan amounts and longer loan tenures may result in higher interest rates.
  • Market conditions: This influences the interest rates, including the supply and demand for credit and the overall economic climate. When interest rates in the market are generally low, it's more likely that lenders will offer competitive rates.

Factors that affect Aadhaar Housing Finance Home Loan Interest Rate and EMI

Several factors can affect the interest rate and EMI (equated monthly instalment) on an Aadhaar Housing Finance home loan:

  • Loan amount: The higher the loan amount, the higher the interest rate and EMI are likely to be.
  • Loan tenure: A longer loan tenure typically results in lower EMI but a higher overall interest payment over the life of the loan.
  • Credit score: A good credit score can help you secure a lower interest rate, as lenders see a higher credit score as an indicator of lower risk.
  • Income: A higher income may allow you to secure a more significant loan amount and a lower interest rate.
  • Market conditions: Interest rates can be influenced by overall economic conditions, such as inflation and the supply and demand for credit.
  • Loan type: Different types of home loans may have different interest rates, and some types may have different repayment terms.

Frequently Asked Questions (FAQs)

What's the interest rate for the Aadhaar Housing Finance?

The interest rates for Aadhar Housing Finance range from 8.00% p.a.

Does Aadhaar Housing Finance provide a 90% home loan?

Aadhar Housing Finance may provide a home loan of up to 90% of the property value. However, this depends on several factors, such as the borrower’s credit score, income, and overall financial situation. The loan-to-value (LTV) ratio, which is the loan amount compared to the property’s value, can vary based on these factors and the lender’s underwriting policies.

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

The EMI for a 30 lakhs home loan for 20 years at an 8.00% interest rate will be approximately INR 26,867.

How can I reduce the interest rate of my Aadhaar Housing Finance home loan?

To reduce your home loan interest rates and improve your credit score, shop around for the best rates, negotiate with lenders, opt for shorter loan tenure, and make a higher down payment to reduce the interest rate.

Urban Money