Piramal Housing Finance Home Loan

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Piramal Housing Finance Home Loan Highlights

Piramal Finance offers Home Loans, Secured & Unsecured Business Loans, Corporate Loans and various other loans, with lower EMIs at great interest rates across India.

Description

Piramal Housing Finance Limited is a wholly-owned subsidiary of Piramal Finance Limited. It is a Non-Banking Financial Company that offers a wide range of financial products such as home loans, loans against property (LAP), and construction finance. The company partners with some of the finest developers in the market. Its group company Piramal Realty’s projects, i.e. Piramal Aranya, Piramal Vakunth, and Piramal Revanta, have set new real estate industry benchmarks.

Piramal Housing Finance offers tailor-made home loans that work for you. Home loans from Piramal Housing Finance give you a higher eligibility option which means the borrowers have the power to choose a bigger house. On the other hand, if you are looking to reduce your monthly home loan EMI, a home loan from Piramal Housing Finance will fit the bill.

Piramal Housing Finance starts at 9% onwards

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Features & Benefits of Piramal Housing Finance

Key features of Piramal Housing Finance Home Loan

  • Piramal housing finance Loans are offered for direct purchase from developers for both under construction and ready-to-move-in property
  • Piramal housing finance loans are offered for the purchase of a resale property too
  • Piramal housing finance loans are offered for a tenure of up to 30 years(subject to your retirement age)
  • Rate of interest can be fixed or floating as per your preference
  • Advisory services for property selection
  • Attractive interest rates
  • Minimal processing fees
  • Tax benefits on housing loans

Eligibility of Piramal Housing Finance Home Loans

Eligibility criteria to avail a piramal housing finance home loan

  • The borrower must be 21years of age when the loan is sanctioned
  • He or she must have a steady income
  • Any salaried or self-employed individuals can apply for a loan
  • Self-employed non individuals

Document Required of Piramal Housing Finance Home Loans

Documents required for Piramal Housing Finance home loan

  • For salaried individuals
    • Identity proof: Voter ID/Passport/Driving License/PAN card/Aadhar Card
    • Residential address proof: Registered Rent Agreement/Latest Utility Bill (electricity, telephone, piped gas and water bill)/Passport/Ration Card
    • Age proof: Passport/PAN Card/Driving License/Birth Certificate (issued by government body)
    • Employment proof: ID card with date of joining/appointment letter
    • Income documents: Salary slips for the past 3 months, Form 16 for the past 2 years, Salary account’s bank statement for the past 6 months
  • For self-employed individuals
    • Identity proof: Voter ID/Passport/Driving License/PAN card/Aadhar Card
    • Residential Address proof: Registered Rent Agreement/Latest Utility Bill (electricity, telephone, piped gas and water bill)/Passport/Ration Card
    • Age proof: Passport/PAN Card/Driving License/Birth Certificate (issued by government body)
    • Business proof: Shops and establishment certificate/trade license certificate/SSI registration certificate
    • For self-employed professionals: Proof of professional qualification apart from above mentioned documents
    • Income documents: ITR for the last 2 years with computation of income, P&L, balance sheet, schedules and auditor report certified by CA

Interest Rates

The Piramal housing finance interest rate starts from as low as 9% per annum.

Fees & other charges

Particulars Amount
Processing fees Up to 3% of loan amount + applicable taxes
Part prepayment/pre-closure The Piramal home loan availed by the individual at floating interest rate: No charges

 

The Piramal home loan availed by the individual at fixed interest rate: 2% of principal o/s on balance transfer + applicable taxes

The Piramal home loan availed by non-individual at floating or fixed interest rate: 2% of principal o/s + applicable taxes

Loan repayment instrument return charges Rs. 500 + applicable taxes
CERSAI charges Rs. 500 + applicable taxes
No due certificate issuance charges 1st time free; subsequently Rs. 500 + applicable taxes
Swap charges 0.50% of the loan outstanding + applicable taxes

Note: Rates of interest and other charges are subject to periodic change at the sole discretion of Piramal Housing Finance.

Loan amount & funding

The Piramal Home Loan amount ranges from Rs. 20 lacs to Rs. 10 crores and the proportion of funding is as under -

Loan amount Up to 30 lacs From 30 lacs to 75 Lacs More than 75 lacs
Funding* (Loan to value ratio) Up to 90% 80% 75%

*It is subject to the market value of the property and repayment capacity of the customer

For more information about the home loan, you can go over to home loan page on Afinoz.com.

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