Grihum Housing Finance Home Loan
Grihum Housing Finance Home Loans starting at just 9.90% p.a.
Grihum Housing Finance offers a comprehensive home loan solution tailored to meet the diverse needs of prospective homeowners. Read More...
Grihum Housing Finance Home Loan Highlights
| Loan Amount | Upto ₹10 cr |
|---|---|
| Tenure | Upto 30 years |
| Rate of Interest | 9.9% onward |
| Processing Fee | Upto 0.5% of the loan amount |
| Max Tenure | 30 years |
| Foreclosure Charges | Nil |
Grihum Housing Finance Home Loans Comparison Table
Compare Grihum Housing Finance Home loan interest rates with other lenders to find the best deal. See how Jammu and Kashmir Bank competitive rates stack up in our comprehensive comparison table.
| Name of Lender | Amount Up to | Interest Rate | Tenure |
|---|---|---|---|
| Axis Bank | ₹10 cr | 8.75% Onwards | Up to 20 years |
Grihum Housing Finance Home Loan EMI calculator
Enter the loan amount, interest rate, and loan tenure into the Grihum Housing Finance home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.
EMI: ₹63,337.89
Total interest: ₹26,00,546.8
Total principal: ₹50,00,000
Grihum's Home Improvement Loans Eligibility
Check Your Eligibility for Grihum Housing Finance Home Loan
Grihum Home Improvement Loans
Grihum Home Extension Loans
Grihum Home Construction Loans
Grihum Home Improvement Loans
Grihum Housing Finance Limited offers specialized Home Improvement Loans designed to transform your living space into a reflection of your personality and style. Recognizing the pride you take in your home, these loans are tailored to help you achieve your vision, whether it's a complete makeover or specific enhancements like interior redesign, technology upgrades, essential repairs, or regular maintenance. With affordable and customizable options, Grihum aims to make your dream home a reality.
Features and Benefits
- Affordable Housing Loans: Starting from ₹5 lakhs, Grihum provides accessible financing options to cater to various housing needs.
- Balance Transfer: You can transfer your existing home loan to Grihum, potentially lowering your monthly EMIs.
- Top-Up Loan: For unexpected financial needs, Grihum offers a top-up on your existing loan with minimal documentation.
- Flexible Repayment Tenure: Choose a repayment period that suits your lifestyle, ranging from 1 to 30 years, allowing for smaller, manageable EMIs.
- Minimum Documentation: The application process is streamlined with simple eligibility criteria and minimal paperwork.
- Attractive Interest Rates: Grihum provides competitive interest rates, ensuring that your financial burden remains light.
- End-to-End Doorstep Service: Enjoy comprehensive support throughout the loan process with a dedicated relationship manager available at your convenience.
| Category | Salaried Individuals | Self-Employed Individuals | Firm / Company |
|---|---|---|---|
| Eligible Borrowers | Government / Semi government / PSU / Private and MNC companies / Proprietorship or Partnership firms | Proprietor / Partners / Directors Or Self-Employed Professionals like Chartered Accountant, Company Secretary & Doctors | Partnership or Private Limited companies engaged in Manufacturing, Servicing or Trading |
| Age | The minimum age of applicant at the time of loan application should be 21 years and maximum of 65 years or the retirement age, whichever is lower. | The minimum age of applicant at the time of loan application should be 21 years and maximum of 65 years or the retirement age, whichever is lower. | The minimum age of Proprietor / Key Partner / Key Director at the time of loan application should be 25 years and maximum of 65 years or the retirement age, whichever is lower. |
| Income | Net monthly take-home salary should be minimum ₹ 20,000 | Gross annual income should be minimum ₹ 3 Lakh | Annual turnover should be minimum ₹ 10 Lakhs |
| Experience / Vintage | Minimum One year | Minimum Two years in current Business or Profession | Business stability / Vintage of minimum 3 years |
| Citizenship | Individuals with Indian Citizenship | Individuals with Indian Citizenship | Proprietor / Partners / Directors with Indian Citizenship |
Grihum Housing Finance Home Loan Processing Fees and Charges
Grihum Housing Finance Home Loan Processing Fees
Grihum Housing Finance Home Loan Prepayment charges
Upto 0.5% of the loan amount
How to Apply for Grihum Housing Finance Home Loan?
Prospective borrowers interested in an Grihum Housing Finance home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here
Via the Grihum Housing Finance Official Website
- Visit the Grihum Housing Finance Home Loan official website.
- Click on Apply now
- Enter the necessary details to determine the eligible loan amount.
- Complete the required information on right side and tap "Submit".
Documents Required for Grihum Housing Home Loan
Following is the list of documents required for different categories of customers
Grihum Housing Home Loan list of documents for Salaried
Grihum Housing Home Loan list of documents for Self-employed professionals
Grihum Housing Home Loan list of documents for Self-employed
Grihum Housing Home Loan list of documents for Farmers
Grihum Housing Home Loan list of documents for NRIs
Grihum Housing Home Loan list of documents for Salaried
- Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
- Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
- A Cheque for The Processing Fee for The Loan Application.
- Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.
Property Related Documents
For New Home- Allotment letter copy/Buyer agreement
- Payment receipt made to the developer
- Title deeds including previous chain of property documents
- Agreement to sell copy
- Initial payment receipt made to the seller
- Title deed of plot
- Copy of the plan approved by Local Authorities
- No encumbrance proof on the property
- The total estimate of construction by a Civil Engineer/Architect
Grihum Housing Finance Home Loan FAQ’S
Here are some of the frequently asked questions with regards to Grihum Housing Finance Home Loan
What is the current interest rate for Grihum Housing Finance home loans?
Grihum Housing Finance offers home loans starting from 9.9% p.a., varying based on the applicant's credit profile.
How do I calculate the interest cost for my Grihum Housing Finance home loan?
You can determine the interest cost using the Grihum Housing Finance Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.
What factors contribute to the fluctuation of Grihum Housing Finance home loan interest rates?
Grihum Housing Finance adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Grihum Housing Finance home loan borrowers. Additionally, Grihum Housing Finance may modify the spread over benchmark rates during special or festive home loan offers.
Who is eligible to be a co-applicant for an Grihum Housing Finance Housing Loan?
Co-owners of the property must also be co-applicants for the Grihum Housing Finance Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.
Can I make early payments toward my outstanding home loan amount?
Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Grihum Housing Finance does not impose prepayment charges on home loans with floating interest rates.
How can I lower my Grihum Housing Finance Home Loan interest rate?
You can reduce your Grihum Housing Finance Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Grihum Housing Finance charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.
What are the pre-closure charges for Grihum Housing Finance home loans?
Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.
What is the disbursement process for Grihum Housing Finance Home Loans?
After property and document verification and completion of the 'own contribution' or down payment, Grihum Housing Finance sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.
Is my spouse's income considered in calculating the home loan amount?
Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Grihum Housing Finance for consideration.
What is the minimum credit score required for Grihum Housing Finance Home Loan applicants?
While Grihum Housing Finance doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.
Can I secure home loan approval while still deciding on a property?
Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.
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