What’s special in the home loan offers of Aadhar Housing Finance, one of the major housing finance companies in India? Any guesses? Let’s be told that the offers are applicable to a wide range of customers, including both salaried and self-employed segments. Loan offers are customized according to the income and credit history of an individual. While applying for a home loan, one invariably glance at the interest rate, eligibility and the applicable EMI. And, if you are looking to apply for Aadhar Housing Loan, you must be aware of the same to enjoy a smooth journey.

Aadhar Housing Finance Home Loan Interest Rates

The setting of interest rates depends very much on the income and repayment potential of a candidate. Apart from these, the credit profile of an applicant would also be taken into account before him/her being disbursed a loan from the noted housing finance company. Aadhar Housing Loan Interest Rates range from 11%-14.50% per annum. It’s always good to get a lower rate of interest as the repayment can run for as long as 30 years at Aadhar Housing Finance. With a higher rate of interest, the extent of interest repayment can be much higher over the course of a long tenure.

Aadhar Housing Finance EMI Calculator

You should know that the Equated Monthly Installment (EMI) is a combination of interest and principal repayment toward a home loan. The installments depend greatly on the interest rate. So, higher the interest rate, greater would be the outflow of EMI and vice-versa. Apart from the interest rate, the loan amount and tenure would also account for the calculation of the EMI.

How Much Loan Can You Get from Aadhar Housing Finance?

You can get a maximum of ₹1 crore to buy a house, depending on your eligibility as well as the cost of the property. Aadhar Housing Finance disburses up to 80% of the property cost. For salaried, the eligibility is calculated based on the age of the applicant, his/her educational background, income stability and continuity, assets, liabilities, savings, number of dependents in an applicant’s family, etc. On the other hand, self-employed must have been in the same line of business for a minimum of 3 years. In addition, the business premises must not be located on encroachment land without title to property or deviated in construction from approved plans.

What’s the Processing Fee & Other Charges?

The home loan bears a processing fee at 2% of the loan amount plus applicable Goods and Services Tax (GST) and government levies. If you make a late payment, charges for the same would be equivalent to 2% of the due amount per month.

How Should You Apply for Aadhar Housing Finance Home Loan?

You must have a set of valid documents authenticating your identity, residence and income.

Identity Proof - Any one of PAN Card, Aadhaar Card, Voter ID, Driving License, Passport

Residence Proof - Any one of Aadhaar Card, Voter ID, Driving License, Passport, latest electricity & utility bills

Income Proof - Latest salary slips or Form 16 for salaried

- Income Tax Return (ITR), Profit & Loss Account and Audited Balance Sheet for the last 2-3 years

Property Documents - Agreement of Sale, Flat Allotment Copy, etc