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Aditya Birla Housing Finance Home Loan Details

If you intend to apply for home loans by Aditya Birla Housing Finance Limited (ABHF), here are some important things to know:

Interest RateSalaried: 9.00% to 9.75% p.a
Self-employed: 9.00% to 12.50% p.a
Loan AmountMinimum: NA, Maximum: Up to 90% of property cost
Processing FeesUp to 1%
Penal Interest Rate2% per month (24% p.a.)
Prepayment/Foreclosure ChargesNil for floating-rate packages 2% to 4% for fixed-rate packages
Max Tenure30 Years
Rate Packages AvailableFloating/Fixed/Variable

Each home loan scheme, whether it is from a bank or NBFC, comes with its own set of charges apart from processing fee. Make sure you know more about the fees and charges you’ll be expected to pay at various junctures of a home loan process.

Aditya Birla Housing Finance Home Loan Interest Rates

ADHF home loan interest rates are based on a variety of factors, such as the loan amount and tenure, your credit score and repayment capacity, among other things. The standard interest rates offered by the company are as follows:

Aditya Birla Home Loan SchemesApplicable Interest Rate (p.a.)
Home LoansSalaried persons: 9% to 9.75%
Self-employed persons: 9% to 12.50%
Loan Against Property10.75% to 16%
Lease Rental DiscountingStarting from 11%

Aditya Birla Housing Finance Limited is one of the most well-known housing finance companies in the country. It offers numerous financing options that cater to the different needs of customers. The company provides financing offers like the home extension loan, home financing loan, plot and construction loan among many others.

Features and Benefits of the Loan:

Some of the features and benefits of the home loans offered by Aditya Birla Housing Finance are mentioned below:

  • The company offers competitive interest rates.
  • The loan tenure extends
  • Individuals do not have to pay any pre-payment charges for floating rate home loans.
  • Customers can also choose to transfer the balance amount.
  • ABHF also offers quick and transparent loan processing.
  • The company offers door step services.

Who are eligible for Aditya Birla Housing Finance home loans?

Mentioned below is the eligibility criteria for home loans provided by Aditya Birla Housing Finance:

  • An applicant must be at least 21 years old to apply for a home loan offered by this lender.
  • The maximum age of eligibility for this loan is 60 years for salaried applicants and 70 years for self-employed applicants.
  • Loan to property value:
Property valueFinancing amount
Up to Rs.30 lakh90%
Rs.30 lakh to Rs.75 lakh80%
Over Rs.75 lakh75%

Documents Required for Aditya Birla Housing Finance Home Loans:

Documents Required for Salaried Individuals:

The documents required for salaried individuals are mentioned below:

Proof of identity and address
  • Passport
  • Voter ID
  • Driving license
  • Aadhaar card
  • PAN card
Proof of income
  • Salary slips of last 3 months
  • Form 16
Bank statementLatest 6 months bank statement
Proof of other incomeReceipts or documents of income. For e.g. Rental receipts
Property documentsA copy of title documents and approved sanction plan

Documents Required for Self-employed Individuals:

The documents required for self-employed individuals are mentioned below:

Proof of identity and address
  • Passport
  • Voter ID
  • Driving license
  • Aadhaar card
  • PAN card
Proof of income
  • IT returns
  • Financial documents for last 2 years
  • Computation of the last 2 years income certified by a CA
Bank statementLatest 6 months
Proof of other incomeReceipts or documents of income like rental receipts
Property documentsA copy of title documents and approved sanction plan

Types of Home Loans offered by Aditya Birla Housing Finance:

The different home loans offered by Aditya Birla Housing Finance are mentioned below:

  • Home loan: Aditya Birla Housing Finance offers home loans to help customers finance their dream homes. This loan is flexible in nature and provides consumers the option of choosing their desirable loan tenure and amount.
  • Home extension loan: The home extension loan offered by Aditya Birla is ideal for customers who want to extend their living spaces. It covers the costs of building an additional room or space to an already existing structure.
  • Home improvement loan: The home improvement loan is aimed at customers who want to renovate their homes. Home renovation can also prove to be a big expense and this loan helps finance that.
  • Plot and home construction loan: The plot and construction loan is designed for people who want to buy a plot of land and build a house on it in within a span of a few years. Due to the nature of buying and construction, the loan is disbursed in instalments.
  • Home construction loan: The home construction loan Is designed for people who wish to construct a house on a property they already own. This loan can be directly disbursed to the customer or to the engineer or architect of the construction project.

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