Description
Piramal Housing Finance Limited is a wholly owned subsidiary of Piramal Finance Limited. It is a Non-Banking Financial Company which 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 and its group company Piramal Realty’s projects i.e. Piramal Aranya, Piramal Vakunth and Piramal Revanta have already set new benchmarks in the real estate industry.
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, 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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