Godrej Housing Finance


Godrej Housing Finance offers home loans starting at 8.55% per year with repayment periods of up to 30 years. They provide special features like "Design your EMI" and "Flexible Payment Plan" for those buying homes that are still being built. They also have "EMI Break" for easier repayment and "Parallel Funding" to help with initial payments. If you already have a home loan from another lender, you can transfer it to Godrej for better terms and even get extra funds on top. Plus, during the first three years, you can get a break on your EMI payments if you transfer your balance to Godrej.

Godrej Home Loan Highlights
Interest Rate 8.55% p.a. onwards
Processing Fees 3% of the loan amount
Loan Amount Depending on the applicant's credit profile and within the limits set by the RBI on Loan to Value (LTV) ratio.
Tenure Up to 30 years

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
Types of Godrej Housing Finance Ltd. Home Loans
Processing Fees & Charges
Eligibility Criteria for Godrej Home Loan
Documents Required
EMI Calculator
FAQs

Compare Interest Rates offered by other Lenders

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

Godrej Housing Finance Interest Rates

Applicant Type Interest Rate
For Salaried 8.55% p.a. onwards
For NRI (Salaried) 8.64% p.a. onwards
For Self-Employed (Business Professionals) 8.99% p.a. onwards
For Self-Employed (Practicing Professionals) 8.99% p.a. onwards

Types of Godrej Home Loan

Godrej Home Loan Balance Transfer

Features: The Home Loan Balance Transfer facility allows existing borrowers to switch their home loans from other financial institutions to Godrej Housing Finance, potentially benefiting from lower interest rates.

Loan Amount: Up to Rs. 30 lakh

Tenure: Up to 30 years

Godrej Home Loan

Features: The Godrej home loan scheme is designed for purchasing or constructing a house. It can also be used for home renovation, improvement, or extension purposes. For those buying under-construction properties, special features like "Design your EMI" with a "Flexible Payment Plan" are available. Additionally, there's an "EMI Break" feature for easier repayment and "Parallel Funding" to make the loan more affordable through staggered down payments.

Loan Amount: Depending on the applicant's credit history and within the limits set by the RBI on Loan to Value (LTV) ratio.

Tenure: Up to 30 years

Godrej Plot Loan

Features: Godrej Home Finance offers a Plot Loan facility specifically tailored for financing the purchase of residential plots in urban areas.

Loan Amount: Up to 80% of the property value

Tenure: Up to 30 years

Also Read : Best Home Loan EMI Calculator

 

Godrej Home Loan Processing Fees and Charges

Charges Charges Applicable (exclusive of GST)
Processing Fees Flexible loan: 3% of the loan amount
Charges for loan foreclosure letter Rs. 500
Repricing Fee 1% of the principal outstanding
EMI Bounce Rs. 1,000
Rate Conversion Charges 0.5% to 1.5% of the principal outstanding
Repayment Mode (Cheque/NACH) Swap Rs. 500
Late Payment Penalty Per Month 2% of the total EMI outstanding
Stamping or Franking Fee On Actuals
Valuation Fees (In Construction Linked Loans) On Actuals
Technical Fees (for the additional property) On Actuals
Loan cancellation charges There are no charges up to 30 calendar days or until the first EMI due date, whichever comes earlier. After that period, the charge is 1% of the principal outstanding.
Foreclosure/Part Prepayment Charges For individuals, there are no charges. For non-individuals, the charge is 4% on the principal prepaid in case of balance transfer. In the case of balance transfer, foreclosure on the principal prepaid is also 4%. For self, the foreclosure charge on principal prepaid is 4% on all amounts prepaid over 20% of the loan amount in the financial year.

Also read: Best Home Loan Fees and Charges

Eligibility Criteria for Godrej Home Loan

  • Age: 23-62 years
  • Nationality: Indian Resident, Non Resident of India (NRI)
  • Employment Type: Self-employed professionals and self-employed non-professionals, Salaried.

Godrej Housing Finance also takes into account the monthly income and credit score of applicants, similar to other banks and housing finance companies, when assessing eligibility for home loans.

Also Read : Best Home Loan Eligibility

Godrej Home Loan Documents Required

Here is the list of documents required to apply for a home loan with Godrej Housing Finance:

  • PAN Card or Form 60 (mandatory)
  • Duly filled and signed home loan application form
  • Passport size photographs
  • Last 6 months’ statement of the account where the salary is credited
  • Proof of employment for 2 years (Form 16, Joining date on salary slip, Employer letter, Appointment letter, etc.)
  • Proof of Identity (Passport, Aadhaar Card, Driving License, Voter’s Identity Card, etc.)
  • Proof of Address (Passport, Aadhaar Card, Driving License, Voter’s Identity Card, etc.)
  • Proof of Income (Latest 1-month salary slip or a Salary Certificate authorized by the company signatory on the letterhead).
  • Property documents for an under-construction property – approved projects (Allotment Letter, Stamped Agreement for Sale, Payment Receipts, bank account statement showing all payments made to the Builder).
  • Proof of bonus for the last 2 years or variable incentive for the last 6 months – Bank statement reflecting the credits and salary slip letter reflecting bonus or variable incentive.
  • Property documents for resale property (Current Registered or Draft Agreement for Sale (only for Maharashtra), Allotment Letter or Stamped Agreement for Sale, Prior Chain Link title documents, Occupancy Certificate (if the property is ready) or Approved Plan copy (Xerox Blueprint), Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt, and Payment Receipts or bank account statement showing all payments made to the Seller).

Also Read : Best Home Loan Documents Required

Frequently Asked Questions

Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.

The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.

To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need

You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.

Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.

Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.