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Aavas Financiers Home Loan
As life moves forward at a rapid pace, the dream of owning a home is one that continues to inspire many. Aavas Financiers, with its longstanding reputation in the banking industry, provides tailored home loan solutions that make this dream attainable.
Offering competitive rates, easy repayment options, and dedicated customer service, Aavas Financiers is your reliable partner in turning your homeownership dreams into reality.
Rate of Interest
8.50-10.5%
Loan to Value
80% - 90%
Loan Tenure
Max 30 years
Max Loan Amount
Upto 3cr
| Rate of Interest | 8.50-10.5% |
| Loan Tenure | Max 30 years |
| Age | Salaried/ Self Employed : 18 - 75 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 3cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Loan Against Property, Home Improvement Loan, Business Loan |
| Processing Fees | Up to 2% + GST |
| Other Charges | Administrative Fees - Up to 2% + GST |
| Overdraft Facilities | |
| Highlights | • Wide Range of Eligible Properties • Integrated Branch Network • Loan Amount Flexibility • Flexible Tenure Options |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.50-10.5% |
| Monthly EMI | ₹ 43,391 - ₹ NaN |
Eligibility Criteria for Aavas Financiers Home Loan
| Criteria | Salaried | Non-Salaried |
|---|---|---|
| Age Range | 18-75 | 18-75 |
| Nationality | Indian | Indian |
| Maximum Age at Final Repayment | 75 | 75 |
Calculate your Aavas Home Loan eligibility and unlock exclusive offers for you!
Aavas Home Loan Interest Rates
Standard Home Loan Rates
| Criteria | Salaried ROI | Self Employed ROI |
|---|---|---|
| Interest Rate | 8.50% p.a. onwards | 8.50% p.a. onwards |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Aavas Home Loan Processing Fee and Charges
Processing Charges
| Charge Type | Amount |
|---|---|
| Processing Fees | Up to 2% + GST |
| Nonpostal Stamp/Stamp Duty | As per the state law |
| Non-encumbrance Certificate/Verification Report | Up to Rs 5,000 + GST |
| Administrative Charges | Up to 2% + GST |
| Part Pre-payment/Foreclosure Charges | 5% + GST Part-payment is allowed after the completion of 6 months from the date of the first disbursement. |
| Penal Interest | 36% per annum |
| Cancellation Charges/Disbursement Cancellation | If requested within 7 days of disbursement- Rs 1,000 + GST If requested after 7 days of disbursement- Rs 1,000 + GST and PEMI till the cancellation request |
Aavas Home Loan Documents
Identity Documents
| Doc Name | Salaried | Self Employed |
|---|---|---|
| PAN | ✔ | ✔ |
| Voter ID | ✔ | ✔ |
| Passport | ✔ | ✔ |
| Driving Licence | ✔ | ✔ |
| Aadhar Card | ✔ | ✔ |
| Bank Account Statement or Passbook with Photograph & Bank Stamp on Photo | ✔ | ✔ |
Proof of Income
| Doc Name | Salaried | Self Employed |
|---|---|---|
| Salary Slips/Bank Statement/Form 16 | ✔ | ✖ |
| Salary Certificate | ✔ | ✖ |
| IT Returns and/or Financial Statements of last 3 years | ✖ | ✔ |
| Informal Income Documents | ✖ | ✔ |
Aavas Home Loan Schemes and Top Plans
Comparison
| Feature | Home Loan | Home Construction Loan | MSME Loan for your Business Expansion | Loan Against Your Property | Home Renovation Loan | Home Loan Balance Transfer | Resale Property Purchase Loan |
|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | – | ₹1 lakh | ₹1,00,000 onwards | – | – | – | ₹1 Lakh |
| Maximum Loan Amount | – | up to ₹1 Crore | up to ₹1 Crore | – | – | – | |
| Interest Rate | 8.50% p.a. onwards | 8.50% – 17% per annum | 13% p.a. onwards* | – | – | – | |
| Tenure | up to 30 years | 30 years for salaried customers (from government/ PSU/ Private sector). Net Salary should be more than ₹35,000 per month. | Up to 7 years | up to 30 years | Salaried – 30 years Self Employed – 20 years | Salaried – 30 years Self Employed – 20 years | 30 Years |
| Eligible Applicants | Salaried or Self-employed | 25 years for other salaried customers. 20 years for self-employed customers | Both salaried and self-employed individuals | The borrower must be at least 18 years old and not more than 70 years old at the start of loan. | The minimum age of the applicant should be 18 years, and the maximum age should not exceed 70 years at the start of loan. | Any Indian citizen (salaried or self-employed) between the age group 18 to 75 years can apply for the loan | Salaried or Self-employed |
Details
Home Loan
- Minimum Loan Amount: ₹1 lakh
- Interest Rate: 8.50% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried/Self-employed
Home Construction Loan
- Minimum Loan Amount: ₹1 lakh
- Interest Rate: 8.50% – 17% per annum
- Tenure: 30 years for salaried customers (from government/PSU/Private sector)
- Eligible Applicants: 25 years for other salaried customers. 20 years for self-employed customers
MSME Loan for your Business Expansion
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Up to ₹1 crore
- Interest Rate: 13% p.a. onwards
- Tenure: Up to 7 years
- Eligible Applicants: Both salaried and self-employed individuals
Loan Against Your Property
- Maximum Loan Amount: Up to ₹1 crore
- Tenure: Up to 30 years
- Eligible Applicants: The borrower must be at least 18 years old and not more than 70 years old at the start of the loan.
Home Renovation Loan
- Minimum Loan Amount: ₹1 lakh
- Tenure: Salaried – 30 years / Self-employed – 20 years
- Eligible Applicants: Both salaried and self-employed candidates. The minimum age should be 18 years, and the maximum age should not exceed 70 years.
Home Loan Balance Transfer
- Tenure: Salaried – 30 years / Self-employed – 20 years
- Eligible Applicants: Any Indian citizen (salaried or self-employed) between the age group 18 to 75 years can apply for the loan
Resale Property Purchase Loan
- Minimum Loan Amount: ₹1 lakh
- Tenure: Up to 30 years
- Eligible Applicants: Salaried or Self-employed
How to Apply
Applying for an Aavas home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest Aavas branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get Aavas‘ best rates in a single call.
Comparison
For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
What is the interest rate of Aavas?
The interest rate for Aavas varies based on loan type and borrower profile, typically ranging from 8.50% to 11%.
Is Aavas Financiers a good company?
Aavas Financiers is considered a reputable company, specializing in affordable home loans with a focus on rural and semi-urban areas.
What is the current loan rate?
Current loan rates at Aavas range from around 8.50% to 11%, depending on various factors.
Is Aavas Financiers a government or private company?
Aavas Financiers is a private company.