Being a subsidiary of HDFC Limited, a Housing Finance Company Recognized by the National Housing Bank (NHB), it would not be wrong to say that Gruh Finance Limited is a renowned name in the housing finance section. This financial firm is best known for offering the home loan to purchase, construct, repair, renovate and extension of dwelling units.
Apart from this, Gruh also offers the best home loan online to purchase the office premises and also loan against existing residential properties. If we talk more about Gruh Housing Finance Home Loan, the firm offers this credit facility to both salaried as well as self-employed individuals in order to fulfill their dream home wish.
So, if you are someone who wants to buy a beautiful home but doesn’t know which lender is offering the best deal, Gruh Finance is a name you can trust. Basically, there are 4 different types of housing loans, which are being offered by this reputed financial firm. Each product is unique and different, meeting the needs of one and all. So, in order to get more clarity on the same, let’s just understand each of these housing loan products in the article below…
Gruh Housing Finance Home Loan Interest Rates
Let’s just talk about the interest rates first as they are one of the most crucial aspects of your loan journey. The bank offers its various products at the competitive home loan interest rates so as to lower your EMI and loan burden. So, for your reference, below we have mentioned the interest rates to look at.
- Suraksha Housing-Interest Rate (8.35%-14.25% per annum)
- Suvidha Housing-Interest Rate (8.85%-15.05% per annum)
- Sajavat Housing-Interest Rate (9.60%-12.75% per annum)
- Samruddhi Housing-Interest Rate (11.60%-14.75% per annum)
Gruh Housing Finance Home Loan Eligibility Criteria
It is important that we should also talk about the eligibility criteria as, without the same, it sounds difficult to apply for home loan. Different lenders have different home loan eligibility norms and for a smooth loan journey, it is important for an applicant to meet the same. Let’s just give you a sneak peak of the same in the article below.
- Applicant's/Co-applicant's income, age, savings, job stability assets,, liabilities and along with the repayment capacity is being considered by the lender at the time of offering the loan.
- An applicant needs to be salaried, self-employed or businessman to avail the housing loan.
- The maximum loan repayment is 30 years, subject to the age limit of all the loans excluding Sajavat housing, where the maximum tenure is 15 years.
- GRUH has its own Credit Score Model, where each individual customer is evaluated on the basis of 22 credit parameters, including the parameters of income,family, assets, liabilities, creation tendencies, etc.
Gruh Housing Finance Home Loan EMI Calculator
Next thing which should be on your priority while availing a loan is monthly installment. A loan-seeker always worries about his/her EMIs and Interest Outgo, whether they are going to be pocket-friendly or not. And, in order to tackle that worry, a home loan EMI Calculator online is here to help. This smart and time-saving tool allows you to know the exact calculations of your Monthly Installments and Interest Outgo in a hassle-free manner. The device is 24x7 available online, hence plays a role of your best buddy , helping you to take a calculative financial decision.
Documents to Apply for Gruh Housing Finance Home Loan Online
Without the complete documents, it would be difficult for you to get Gruh Housing Finance Home Loan online. Lenders ask for the documents which you need to submit as, without the same, no lender will provide you the required loan amount. Take a look at the documents below.
- Signed application form with photograph
- ID and residence proof
- Processing fee cheque
- Last 6 months bank statements
- Last 3 months salary slips (for salaried)
- Form 16 or Income Tax Returns (for salaried)
- Education qualification certificate & proof of business existence (for self-employed)
- Last 3 years Income Tax Returns with computation of Income (for self-employed)
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account (for self-employed)
- VAT/ service tax registration
- Business address proof
- Incorporation details in case of companies
- Statement of profit and loss account
- Statement of balance sheets verified by Chartered Accountant
- Copy of partnership deed
- Proof of business existence and business profile
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