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Aadhar Home Loan

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Product Rating

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ROI

Minimum: 9.90%

Maximum: 15.00%

Processing Fee

2.5%

Loan Amount

Upto 1 crore

Repayment Tenure

Upto 30 years

Location

PAN India

Tax Benefits

Under section 80C

Monthly Income

Starting at Rs. 10,000/month

USP

  • Home Loan without income proof

  • Affordable EMIs

  • Fast and transparent loan procedure

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.

Follow the table for a concise view of Home Loans provided by Aadhar Housing Finance Ltd.

ROI

Minimum: 9.90%

Maximum: 15.00%

Processing Fee

2.5%

Loan Amount

Upto 1 crore

Repayment Tenure

Upto 30 years

Location

PAN India

Tax Benefits

Under section 80C

Monthly Income

Starting at Rs. 10,000/month

USP

  • Home Loan without income proof

  • Affordable EMIs

  • Fast and transparent loan procedure

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)



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 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)



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 not be more 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


Documents required

Document List (required for each Applicant and Co-applicant)

  1. Passport size latest color photograph

  2. KYC Documents:

Identity Proof (Anyone)

    • PAN Card

    • Aadhaar UID Card

    • Voter’s Identity Card

    • Valid Driving License

    • Valid Passport

    • Identity Card with Applicant's photographs issued by state Govt. or Central Govt. departments, Statutory or Regulatory Authorities, Public Sector Undertakings (PSU’s), Scheduled Commercial Banks and Public Financial Institutions.

    • Job Card issued by NREGA

    • Letter issued by a Gazette Officer with a duly attested Photograph of the person

    • Letter from a recognized Public Authority or Gazette Officer verifying Identity/Photo

    • Bank Account Statement or Passbook with Photograph & Bank Stamp on Photo (Along with the latest transaction entry)

Current Residential Address Proof (Anyone)

  • 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)


Signature Proof (Anyone)

    • PAN Card

    • Valid Passport

    • Signature Verification Certificate from the bank

Date of Birth Proof (Anyone) - DOB needs to be complete in DD/MM/YY or DD/MM/YYYY format

  • PAN Card

  • Aadhaar UID Card

  • Voter’s Identity Card

  • Valid Driving License

  • Valid Passport

  • Identity Card with Applicant's photographs issued by State Govt. or Central Govt. departments, Statutory or Regulatory Authorities, Public Sector Undertakings, in the Government employee cases it is mandatory to take the same.

  • Job Card issued by NREGA

  • Birth Certificate (Govt. Agency)

  • School Leaving Certificate (10th/12th)


Income Documents:

Salaried Customer:

      • Latest Salary Slip/Certificate (6 month’s salary slips if salary components are variable)

      • Latest 6 months bank statements/copy of passbook of all bank accounts.

      • Form-16 (if available)

Additional Document for NRI Salaried

    • Passport copy with valid visa

    • Work Permit or any other employment proof issued by concerned Government / Employer

    • Copy of all overseas bank statement & NRE / NRO Bank Statement for last 6 months

    • Copy of Continuous Discharge Certificates (Merchant Navy cases)

Self – Employed Customer:

        • Latest 3 years ITRs copy

        • Latest 9 months bank statements/copy of passbook of all bank accounts.

        • Latest 3 years computation of Income alongwith Profit & Loss Account and Balance Sheet (for loans above Rs. 25 Lacs).

        • Qualification Proof and copy of Certificate of Practice (For Professionals)

        • Business ownership Proof (Anyone from following)

        • Valid Shop Establishment Act License / Gumasta/ Other license issued by the Government departments like GST, Service Tax, Food & Drug License / Import & Export (Exim) License etc.

        • Any registration with local market / vyapar association

        • Current account in the name of firm

        • Letter from Sarpanch of Gram Panchayat (if the business location is in Gram Panchayat)

Eligibility

Eligibility is decided according to the assessment done by the Aadhar Housing Finance Ltd. representatives. It may vary from person to person. Age, income, liabilities, assets, educational history, stability and continuity of income, investments, etc., of the applicant and co-applicants, are used to determine eligibility for the loan amount (in the case of a joint home loan). You can check your eligibility from here.

FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

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.

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