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Hero Housing Finance Home Loan for Senior Citizens

Hero Housing Finance Home Loan for Senior Citizens and Pensioners

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Hero Housing Finance Home Loan for senior citizens is designed for those aged 60 and above. This loan makes it easier for senior citizens to buy their homes with competitive interest rates and flexible payment terms. The application process is simple, and minimal paperwork is required. Senior citizens can use different income sources like pensions, rental income, or investments to qualify, making it a convenient option for those over 60 looking to finance their housing needs.

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Table of Content

1. Hero Housing Finance Home Loan for Senior Citizen Highlights

2. Hero Housing Finance Home Loan for Senior Citizen Fees and Charges

3. Hero Housing Finance Home Loan for Senior Citizen Documents Required

4. Hero Housing Finance Home Loan for Senior Citizen Eligibility Criteria

Written By

Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Last Updated: 26th September 2024

Hero Housing Finance Home Loan for Senior Citizen – Highlights

Following are the highlights of Hero Housing Finance home loan for senior citizens and pensioners:

Feature	Detail
Age Eligibility	60 years and above
Income Source	Pensions, rentals, investments
Processing Fees	Applicable
Loan Tenure	Flexible options available
Special Provisions	Competitive rates, minimal documentation

Hero Housing Finance Home Loan for Senior Citizen – Fees and Charges

Hero Housing Finance Home Loan for Senior Citizens includes processing fees, legal and technical evaluation fees, and possible late payment charges. Depending on the loan terms, loan statement issuance, document retrieval, and prepayment penalties may also be charged.

Hero Housing Finance Home Loan for Senior Citizen – Documents Required

To apply for Hero Housing Finance Home Loan for Senior Citizens, required documents include proof of age (like an Aadhaar or PAN card), income proof (pension slips, bank statements), property documents, and other KYC documents such as address proof and photographs.

Hero Housing Finance Home Loan for Senior Citizen – Eligibility Criteria

Hero Housing Finance Home Loan for Senior Citizens is available to individuals aged 60 years or above. Applicants must demonstrate a stable source of income, either from pensions, rentals, or investments, and meet the credit and property valuation requirements set by Hero Housing Finance.

Frequently Asked Questions (FAQs)

What is the new Hero Housing Finance home loan scheme for senior citizens?

Hero Housing Finance has introduced a special home loan scheme tailored for senior citizens, offering flexible repayment options and competitive interest rates.

What is the maximum age limit for Senior Citizen Home Loan in Hero Housing Finance?

The maximum age limit for the Senior Citizen Home Loan in Hero Housing Finance is 70 years at loan maturity.

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