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Aadhar Home Loan
Are you someone who doesn’t own any income proof to get a home loan? What if we tell you, you can get a home loan without any income proof? Yes, with Aadhar Housing Finances, this is possible.Powered By
Aadhar Home Loan
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 600+ & Minus 1 CIBIL Score |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | Salaried-21 Year to 60 Year, Self Employed-23 Year to 65 Year |
| Loan Amount & Tenure | 5
Lac to 70 Lac (5 Year to 25 Year) |
| Login Fees | 4130+ |
| Rate of Interest & Type | 10.50% to 14.75% (Reducing) |
| TAT | Sanction-10
Days Disbursement-within 3 days after submission of documents |
| Processing Fees | Upto 1.50%+GST |
| Insurance & Other Charges | Insurance Charges:2%-4% |
| Foreclosure Charges | Nil |
| Minimum Income | Which is fit to cover EMI |
| Lock In Period | 3 Month |
| Part Payment Allowed | Yes |
| Home Loan OD Product | No |
| LTV | 90% of Market Value if Loan amount<30 Lac, 80% of Market Value if Loan amount>30 lac-75Lac |
| Product | BT+Top UP, Plot Purchase, Fresh Loan, Plot+Construction, Seller BT |
| Program | LIP Program-70 Lac, Without ITR-30 Lac, Income Program-70 Lac, Low LTV-70 Lac, Banking-70 Lac, GST Program-70 Lac |
| CO - Applicant | Yes |
| FOIR | No |
| Negative Profile | Politician, Person living in domintaed area |
| Funded Property Type | (i)
Residential Property (ii) Residential Plot Purchase (iii) Residential Plot Purchase & Construction |
| Negative Property | GPA Property, Auction Property |
| Accepted Collateral | Khasra-Khatauni Property, Lal Dora Property, Un-approved Property, Gram Panchayat Property, Legal & technical not clear, Bachha Flat,Basement with 1st Floor,Sub-divided Property,Without MAP Property,Subject to Sale Deed,Regularized Colony, Approved Property, Plot, Stone Slab Property, Ground+5th Floor |
| 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 | Funding on all type of property & on low cibil score |
| Additional | 1.
Funding for Home Renovation 2. Funding on Ground+5th Floor too without MAP |
Required Documents to Apply for Aadhar Home Loan
For salaried
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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
For self-employed individuals
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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 Aadhar Home Loan
Many people have the desire to own a house. They work arduously and devotedly for years to gather the money needed to purchase a home. However, sometimes regardless of economic level, this might not be feasible. This is where a Home Loan comes into play. A home Loan can help you build the home of your dreams while supporting you financially.
There are so many options available for getting a Home Loan. However, Aadhar Home Loans can be a perfect pick as they offer loans even if you receive a salary of just Rs.10,000 per month. Aadhar Housing Finance Ltd. is helping every individual build their own home by providing affordable home loans. To know more, let’s follow this article till the end.
Different types of Home Loans provided by Aadhar Housing Finance Ltd.
Home Loan for Salaried
- Purpose: For salaried individuals working in different sectors and pay grades.
- Loan Amount: Up to Rs 1 crore
- Tenure: Up to 30 years for individuals receiving salary through bank accounts and up to 20 years for those receiving salary in cash
Home Loan for Self-employed
- Purpose: For self-employed individuals, including those who don’t have any income documents
- Loan Amount: Up to Rs 1 crore
- Tenure: Up to 20 years (the borrower should be less than 70 years on loan maturity)
Home Improvement Loan
- Purpose: For all the home renovation activities such as plastering, painting, plumbing, roofing, flooring, replacing any non-movable asset, grilling, etc.
- Loan Amount: Up to Rs 1 crore
- Tenure:
For applicants receiving salary through bank A/c- Up to 30 years
For applicants receiving salary in cash- Up to 20 years
For Self-employed- Up to 20 years (the borrower should be less than 70 years of age at the time of loan maturity)
Loan for Construction/Plot Purchase
- Purpose: For Salaried/self-employed professionals to purchase non-agricultural land within Municipal or Local Development Authority limits
- Loan Amount: Up to Rs 1 crore for plot purchase and up to Rs 1 crore for plot and construction
- Tenure: Up to 20 years (plot loan only) and up to 30 years (plot + construction loan). The tenure should not exceed the retirement age.
Home Extension Loan
- Purpose: For home extension needs that include new room addition or building new floors
- Loan Amount: Up to Rs 1 crore
- Tenure:
For applicants receiving salary through bank A/c- Up to 30 years
For applicants receiving salary in cash- Up to 20 years
For Self-employed- Up to 20 years (the borrower should be less than 70 years of age at the time of loan maturity)
Balance Transfer and Top-up
- Purpose: To transfer existing loan from any other lender to Aadhar Housing FInance Ltd. at lower interest rates.
- Tenure:
For applicants receiving salary through bank A/c- Up to 30 years
For self-employed- Up to 20 years (subject to retirement age)
For applicants receiving salary in cash – Up to 20 years
Covid-19 Warriors Griha Loan
- Made for Covid frontline warriors looking to own a home at lower interest rates.
- Complimentary health insurance (including covid related expenses).
- Applicants with a low CIBIL score can apply.
- Faster loan processing services.
Aadhar Gram Unnati
Purpose: It gives safe housing in small districts and towns, with no relation to the economic and personal status of the applicant. It involves the following features:
- No income proof.
- No professional bias
- Doorstep service
- Easy repayment
- No income bias
Start with AADHAR HOME LOAN in few steps
If you are planning to apply for a home loan at AADHAR HOME LOAN there are certain details that you should be aware of, Let’s discuss
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, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The immediate family members, including parents, kids, and spouses, are eligible to be the co-applicant. The co-applicants must be all co-owners of the residential property.
An individual with a minimal salary of Rs.5,000 is eligible to apply for a Home Loan from Aadhar Housing Finance.
Yes, pre-payment charges apply on loan with fixed interest rates. At the time of prepayment, 2% of the total loan balance is required to be paid. If the loan is for a home with a floating rate of interest, there are no such fees.
Yes, the applicant leverages a tax benefit on Aadhar Home Loan under section 80C.
The processing fee for Aadhar Home Loan is 2.5%.
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