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Aavas Financiers Limited Home Loan
Aavas Financiers Limited Home Loan
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Aavas Financiers Limited Home Loan
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Aavas Financiers Limited Home LoanHere are a few factors
| Location | 50Km from Branch Location |
| CIBIL Score | 650+ |
| Applicant | Salaried & Self Employed Both |
| Applicant Age | Individual-21 Year- 65 Year |
| Loan Amount & Tenure | 25
Lac-5 Cr (5 Year to 30 Year) |
| Login Fees | 3000+GST |
| Rate of Interest & Type | 9.90% to 10.50%(Reducing) |
| TAT | 15 Days |
| Processing Fees | 1% of Loan Amount |
| Insurance & Other Charges | Insurance Charges:1%-4% |
| Foreclosure Charges | Nil |
| Minimum Income | Which is fit to cover EMI |
| Lock In Period | 6 Month |
| Part Payment Allowed | Yes |
| Home Loan OD Product | No |
| LTV | Lower
of 90% of Registry Value or If Property Value<30 Lac-80% of Market Value,
if Property Value>30 Lac-70% of Market Value |
| Product | New Purchase, Plot Purchase, Plot Purchase Construction, Home Renovation, Balance Transfer |
| Program | Banking Surrogate Program-1 Cr, LIP Program-1 Cr, Without ITR 30 Lac,, Income Program-5 Cr |
| CO - Applicant | Yes |
| FOIR | 1.
Salaried Person- If Salary>50k Lac-70% of Salary, If monthly
Salary<50K-60% of Salary 2. Self Employed-100% of Income |
| Negative Profile | 1.
Any profile where collection is not comfortable 2. Cash Salaried Person |
| Funded Property Type | (i) Residential Property (ii) Residential Plot Purchase (iii) Residential Plot Purchase & Construction |
| Negative Property | Basement, Bachha Flat, GPA Property, Khasra Khatauni Plot |
| Accepted Collateral | All
Approved Collateral, LAL Dora Property, Khasra Khatauni Built-up Property,
Sub-Divided Property, Without MAP Property, property in demolition list if 8 year old, 1 year old deed, Gram Panchayat Property, Legal not clear |
| Business Vintage for Self Employed Person | 1 Year |
| Minimum Job Experience for Salaried Person | 1 Year |
| Experience with Current Employer | 1 Month |
| Any Specific Product for Professionals | No |
| USP | 1.
Funding Without ITR 2. Seller BT 3. NRI Funding 4. Without MAP Property 4. DUAL Unit Funding5. Individual Floor without MAP |
Aavas Financiers Limited Home Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Aavas Bank Home Loan
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if new purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About Aavas Bank Home Loan
Are you set up to take a chance and make your dreams come true? Use a home loan as a guiding light to help you find your way to financial abundance and build your dream home. Accept the possibilities, take the chances, and confidently change your financial history!
There are no surprises in sight! Home loans have transparent conditions, so you are fully aware of what you are agreeing to. Just clarity; no muddle.
In the age of digital technology, submitting an application for a home loan is simpler than ever. Quick approvals and online applications make it possible for you to quickly turn your dreams into reality.
Get One Step Ahead Towards Your Goal with Finzy Personal Loan
If you are planning to apply for a personal loan at Finzy, all you need is to follow a few steps through ReferLoan
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
FREQUENTLY ASKED QUESTIONS
Your spouse and members of your immediate family (blood relatives) are eligible to co-apply for your home loan. The property's co-owners must all be co-applicants.
Yes, home loan recipients have the option to switch from variable to fixed interest rates and vice versa. As needed, they can also go from higher interest rates to lower ones. To transfer or convert interest rates, Aavas Housing Financing charges borrowers of house loans 2% of the remaining principal.
Yes, you are able to foreclose on your Aavas Housing Finance loan. For home loans with adjustable interest rates, the HFC does not impose any prepayment penalties. For house loans with fixed rates that are repaid with personal funds, there is no foreclosure fee assessed.
The maximum loan amount is determined by Aavas Financiers based on the applicant's repayment ability, which is determined based on a number of parameters including age, income, the age of co-applicants, savings history, assets, and obligations.
Use an online home loan EMI calculator to determine the monthly payment for your loan amount. Details, including the loan amount, length, interest rate, and processing fees, must be entered manually. You may use the calculator to determine whether the loan is reasonable by finding out the monthly EMI amount and your loan repayment status.
The buyer's agreement, allocation letter, and payment receipts for the construction company are just a few of the real estate papers the applicant may be requested to supply.
Yes, there will be a processing fee for borrowers of 2% of the sanctioned amount plus GST, which will be paid upfront or subtracted from the initial funding distribution.
Borrowers will be required to complete an application form, gather and submit all required paperwork, and provide a check for processing costs. Following this, the assessment, sanction for the house loan, security assessment, and payout for the home loan will take place.
The first sum of cash that you pay upfront when purchasing a property with a loan is known as a down payment. It is frequently needed by lenders and represents a percentage of the overall cost of the house. A bigger down payment may result in a lower loan balance and/or better loan conditions.
The first evaluation of your eligibility for a loan by a lender is known as pre-approval. It is based on your credit standing and financial history. You may focus on your property search and convince dealers that you're serious about purchasing by gaining pre-approval.
ReferLoan is a Marketplace which connect Financial institutes with prospective users through its integrated approach. ReferLoan helps users to increase their CIBIL Score and finding the best Financial Products from the available Financial Institutions. ReferLoan is the only Market Place which helps the users to explore the opportunities in Debt as well as in Equity.
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