Aditya Birla Housing Finance offers home loans starting at an interest rate of 8.80% per annum, with loan tenures of up to 30 years and loan amounts of up to 90% of the property’s cost. Existing home loan borrowers from other banks/HFCs can transfer their loans to Aditya Birla Housing Finance at lower interest rates. Additionally, the company provides a special home loan scheme called ABHFL Affordable Housing, aimed at providing affordable home loans in select cities across India.
Aditya Birla Home Loan Highlights |
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|---|---|
| Interest Rate | 8.80% – 14.75% p.a. |
| Loan Amount | Up to 90% of property value |
| Tenure | Up to 30 years |
| Processing Fees | Up to 1% of loan amount + GST |
| Table of Contents | ||
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| Compare Interest Rates offered by other Lenders | ||
| Interest Rates | ||
| Types of Aditya Birla Home Loan | ||
| Processing Fees & Charges | ||
| Eligibility Criteria | ||
| Documents Required | ||
| EMI Calculator | ||
| FAQs | ||
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
| Type of Employment | Rate of Interest (p.a.) |
|---|---|
| For Salaried | 8.80% to 14.00% |
| For Self-employed | 9.10% to 14.75% |
Different customers have different home loan requirements. To cater to such different loan requirements, ABHFL offers home loans for several purposes. Some of them are discussed briefly as below:
1. Aditya Birla Home Loan
Aditya Birla Housing Finance offers a regular home loan scheme for purchasing new or resale residential properties.
- Loan amount: Up to 90% of the property value.
- Repayment period: Up to 30 years.
- Home loan balance transfer facility: Available for existing home loan borrowers who wish to transfer their outstanding home loans from other lenders to Aditya Birla Housing Finance.
2. Aditya Birla Home Extension Loan
Aditya Birla Housing Finance provides a Home Extension Loan for financing costs associated with extending a house, such as adding additional rooms or floors.
- Repayment period: Up to 20 years.
- Balance transfer option: Available, allowing borrowers to transfer their existing home loan balance from other lenders to Aditya Birla Housing Finance.
3. Aditya Birla Home Improvement Loan
Aditya Birla Housing Finance offers a Home Improvement Loan designed to cover expenses related to home renovation, including repairs, flooring, waterproofing, false ceiling, woodwork, tiling, plumbing, or electrical work for an already purchased house.
- Repayment period: Up to 10 years.
4. Aditya Birla Plot and Construction Loan
Aditya Birla Housing Finance provides loans for individuals intending to purchase a residential plot and build a house on it in the near future.
- Repayment period: Up to 20 years.
5. Aditya Birla Home Construction Loan
Aditya Birla Housing Finance offers a Home Construction Loan for individuals who wish to build a house on an already owned plot.
- Repayment period: Up to 20 years.
6. Aditya Birla PMAY and Affordable Housing
- Under the ABHFL Affordable Housing program, Aditya Birla Housing Finance offers various types of home loans, including Home Purchase Loan, Home Improvement Loan, Plot Purchase plus Home Construction Loan
- Eligibility for Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY) for eligible customers
- Flexible repayment options such as simple EMIs or structured repayment plans
- Repayment period of up to 30 years
- Balance transfer facility available for transferring outstanding home loans from other banks/HFCs to Aditya Birla Housing Finance at lower interest rates.
Also Read : Best Home Loan EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 1% of the loan amount |
| Overdue Charge | 2% per month on overdue payment |
| Revision of Fixed rate to floating and vice-versa/ revision in loan interest rate/ tenure at the discretion of ABHFL | 2% of the loan outstanding |
| Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions | 24% p.a. i.e. 2% per month |
| Cheque Return Charges/NACH failure charges | Rs. 750 per instance |
| CERSAI Charges | When the facility amount is equal to or lesser than Rs. 5 lakh, the fee is Rs. 50 per property. For facility amounts greater than Rs. 5 lakh, the fee is Rs. 100 per property. |
| Part Payment /Pre-Closure Charges (applicable for non-individuals/ individuals with other than floating rate) |
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Also read: Best Home Loan Fees and Charges
The common eligibility criteria for Aditya Birla Home Loans include:
| Borrower Profile | Indian Residents/NRIs/PIOs |
|---|---|
| Age | 21 to 70 years |
| Credit Score | Preferably 750 and above |
| Employment Type | Salaried/Self Employed |
| Income | Varies from case to case |
In addition to the mentioned eligibility criteria, Aditya Birla Housing Finance Ltd. may also consider applicants' credit scores, EMI/NMI (Equated Monthly Installment to Net Monthly Income) ratio, and the location and features of the pledged property when assessing home loan eligibility.
For applicants with low or zero credit scores, they can avail the Step UP Credit Card, a secured credit card offered by SBM Bank (India) Ltd. in partnership with Mybankingtips, to build or improve their credit scores.
Also Read : Best Home Loan Eligibility
To apply for an Aditya Birla Home Loan, you'll need the following documents:
- Duly filled and signed Aditya Birla Home Loan application form
- Passport size photographs
- Proof of Identity (Any one): Aadhaar Card, PAN Card, Passport, Driving License, Voter ID Card
- Proof of Residence (Any one): Aadhaar Card, Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority
- Proof of Income (For Salaried): Salary slips of the last 3 months showing deductions and a copy of Form 16
- Proof of Income (For Non-Salaried): IT Returns or financial documents for the last 2 years and computation of income certified by a CA for the last 2 years
- Property Documents: A copy of title documents and approved sanction plan
- Account Statement: Last 6 months’ bank account statements
- Proof of Other Income: Rental receipts or documents showing receipt of income
Note: Aditya Birla Housing Finance Limited may request additional documents for processing your loan.
Also Read : Best Home Loan Documents Required
1. What are the different modes of home loan repayment accepted by ABHFL?
Home loan borrowers have the option to repay their loan installments through NACH (National Automated Clearing House).
2. Is there a minimum limit on the loan amount that I can apply for?
Aditya Birla Home Loan does not have a minimum limit on the loan amount. However, the lower limit on the minimum amount is subject to change in accordance with the internal policies and guidelines of Aditya Birla Housing Finance Limited (ABHFL).
3. How will Aditya Birla Housing Finance Ltd. decide my home loan eligibility?
Aditya Birla Housing Finance Ltd. determines your housing finance eligibility based on various factors, including Age, Repayment capacity, Property value and location, Total income, Existing liabilities, Occupation, Employer’s profile. These factors help Aditya Birla Housing Finance Ltd. assess your eligibility for housing finance.
Also read: Best Home Loan Balance Transfer
4. Is adding a co-applicant compulsory to apply for Aditya Birla Home Loan? If yes, who can be the co-applicant?
Adding a co-applicant when applying for an Aditya Birla home loan is not mandatory. The co-owners of the property can also serve as co-applicants. If there are no co-owners of the property, any immediate family member can be the co-applicant.
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