Aavas Housing Finance understands that owning a property is both a foundation for secure living and a valuable investment. With Aavas Housing Finance home loan interest rates starting at 8.50% p.a., and financing of up to 90% of your property’s value, Aavas offers a seamless and accessible path to homeownership.
Whether you’re purchasing your dream home or investing in property, Aavas Housing Finance’s competitive rates and customer-centric approach make home financing easier and more rewarding.
Aavas Housing Finance Home Loan Interest Rates by Employment
Aavas Housing Finance adjusts home loan interest rates based on whether you’re salaried, self-employed, or have a professional practice. Below is a quick look at how your employment type can influence your rate.
Aavas Housing Finance Home Loan Interest Rates for Salaried Employees
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Salaried | 8.50% p.a. onwards |
Aavas Housing Finance Home Loan Interest Rates for Self Employed
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Self Employed | 8.50% p.a. onwards |
Aavas Housing Finance All Schemes Home Loan Interest Rates
Aavas Housing Finance offers multiple home loan schemes, each with its own interest rate structure and features. Here’s an overview of the current rates for various Aavas Housing Finance schemes.
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Aavas Housing Finance Home Loan | 8.50% p.a. onwards |
All Schemes Offered by Aavas Housing Finance: A Detailed Overview
Aavas Housing Finance has a range of home loan schemes catering to diverse needs, from Home Construction loans to Resale Property Purchase loan schemes. Read on to find the best fit for your housing requirements.
Aavas Housing Finance Home Loan Interest Rates
- Aavas Housing Finance offers home loans for flats, and houses including builder and resale properties.
- Applicants can get home loans with simple documentation—ID, address, income proof, and property documents.
- Designed for both Salaried and Self-employed with work experience 1 year or more.
| Features | Details |
|---|---|
| Interest rate | 8.50% p.a. onwards |
| Maximum loan tenure | 30 years |
| Processing fees | Up to 2% + GST |
| Minimum loan amount | ₹1 lakh |
Aavas Housing Finance Home Construction Loan Interest Rates
- Aavas Housing Finance offers home construction loans for self-construction of residential properties on freehold or development authority plots.
- Available for plot purchase plus construction, with construction completion required within 3 years.
- Non-income-proof customers can also apply.
- Applicants must be residents of India, with a simple and minimal documentation process for easy approval.
- Tax benefits can be availed on home construction loans, making financing more affordable.
| Features | Features |
|---|---|
| Loan tenure | 30 years (For customers having a salary > ₹35,000/-month) 25 years (For other salaried customers) 20 years (For self-employed customers) |
| Processing fees | Up to 2% + GST |
| Eligibility | 18 years – 65 years (For salaried borrowers) 18 years – 70 years (For self-employed borrowers) |
Also Read: Importance of Construction Loan
Aavas Housing Finance Loan Against Property
- Aavas Housing Finance offers Loan Against Property (LAP) to meet financial needs like education, marriage, or medical expenses.
- Borrowers can avail of higher loan amounts based on property value, eligibility, and credit score.
- Aavas LAP is accessible even to applicants with a credit score of (-1), ensuring wider financial support.
- Applicants must have a regular source of income with a minimum annual income as per lender criteria.
| Features | Details |
|---|---|
| Loan tenure | Up to 15 years |
| Processing fees | Up to 2% + GST |
| Eligibility | 18 years – 70 years |
Aavas Housing Finance Home Improvement Loan
- Aavas Housing Finance offers home improvement loans for renovations like adding rooms, balconies, flooring, or modern upgrades.
- Aavas Home Improvement Loan helps homeowners create a more comfortable and spacious living environment.
- Borrowers can benefit from competitive interest rates and tax benefits, making renovations more affordable.
- Only property owners are eligible to apply for renovations under this loan scheme.
| Features | Details |
|---|---|
| Loan tenure | 30 years (For salaried customers from the government/PSU/Private sector) 25 years (For other salaried customers) 20 years (For self-employed customers) |
| Processing fees | Upto 2% + GST |
| Eligibility | 18 years – 70 years |
Also Read: Home Improvement Loan Eligibility
Aavas Housing Finance Home Loan Balance Transfer
- Aavas Housing Finance offers a home loan balance transfer to reduce EMIs and ease financial burden.
- Borrowers can transfer their existing home loans from other institutions to Aavas for better interest rates.
- Additional top-up loan facility is available for extra financial support along with the balance transfer.
- Lower EMIs allow borrowers to save more and manage their finances efficiently.
| Features | Details |
|---|---|
| Loan tenure | 30 years (For salaried customers from the government/PSU having a salary > ₹35,000/Month) 25 years (For other salaried customers) 20 years (For self-employed customers) |
| Processing fees | Up to 2% + GST |
Aavas Housing Finance Resale Property Purchase Loan
- Aavas Housing Finance offers loans for purchasing resale flats, houses, and bungalows from builders or individual sellers.
- Resale property loans provide benefits like fast approvals, immediate possession, and preferred central locations.
- Eligible properties include those under Development Authorities, RERA-approved projects, Municipal Corporations, Freehold, and Gram Panchayat.
- Speedy loan processing ensures quick disbursal for a hassle-free property purchase experience.
| Features | Details |
|---|---|
| Maximum Loan Tenure | 30 years (For salaried customers from the government/PSU/Private sector) 25 years (For other salaried customers) 20 years (For self-employed customers) |
| Processing fees | Up to 2% + GST |
| Employment | For salaried or self-employed with work experience of 1 year or more |
Also Read: Resale your Property with a Loan
How to Get Lowest and Best Aavas Housing Finance Home Loan Interest Rates?
- Aim for a 750+ Credit Score to secure preferential rates.
- Select the Right Aavas Housing Finance Scheme that matches personal requirements for cost efficiency.
- Leverage Special Concessions offered to government employees, women borrowers, and defense personnel.
- Use the Check-Off Facility for direct salary deductions, which may lower interest rates.
- Make a Higher Down Payment to reduce the principal and potentially get better terms.
- Watch Out for Festive Offers or promotional discounts from Aavas Housing Finance.
- Keep Income Documents Updated for quicker approvals and more favorable rates.
- Maintain Steady Employment to boost financial credibility and rate eligibility.
- Build a Strong Relationship with Aavas Housing Finance for possible preferential pricing.
- Always Negotiate to explore discounts on interest rates or processing fees.
Also Read: How to Increase CIBIL Score
Types of Home Loan Interest Rates
| Interest Rate Type | Definition | Pros | Cons |
|---|---|---|---|
| Fixed | Rate remains constant throughout a predetermined period or entire tenure. | – Predictable EMIs for budgeting- Protection against rising interest rates | – Typically, higher rates compared to floating- No benefit if market rates go down |
| Floating (Variable) | Linked to market benchmarks (e.g., Repo Rate, MCLR) and changes over time | – Often cheaper when rates fall- Can partly or fully prepay with lower penalties | – EMIs fluctuate with market conditions- Costs may rise if rates increase |
| Hybrid | Combination of fixed and floating phases. | – Stability in the initial fixed period- Potential cost savings in the variable phase | – Transition from fixed to floating can carry uncertainties- May incur a shift-related fee |
How to Switch Your Aavas Housing Finance Home Loan from Fixed to Floating Rate?
Aavas Housing Finance allows you to switch from fixed to floating at a fee of up to maximum of 2% on the principal outstanding plus applicable taxes.
- Visit your Aavas Housing Finance branch or contact your relationship manager.
- Complete the necessary forms or applications for the switch.
- Once approved, sign a supplemental agreement reflecting the new floating-rate terms.
- Pay the conversion charge (2% on the outstanding principal) and any other administrative costs.
- Verify updated EMIs, as floating rates can fluctuate with market conditions.
Check: Aavas Housing Finance Home Loan EMI Calculator
Secure the Lowest Aavas Housing Finance Home Loan Interest Rates with Credit Dharma
Buying a home is a big step. Getting a home loan can be hard, but we make it easy. Choosing Credit Dharma for your home loan simplifies this process. We offer expert advice and personalized assistance to make everything hassle-free. You’ll receive timely updates on your loan application and disbursement progress.
From the initial application to the final disbursement, we provide comprehensive support. Enjoy clear and honest communication at every stage, with no hidden surprises.
Frequently Asked Questions
Aavas Housing Finance home loan interest rates start at 8.50% p.a.. The final rate depends on factors such as loan amount, applicant profile, income stability, and creditworthiness. Competitive rates ensure affordable financing for homebuyers.
Aavas charges a processing fee of up to 2% of the sanctioned loan amount plus GST. This fee is either collected before disbursement or deducted from the first disbursement as per the borrower’s consent, ensuring a smooth and transparent process.
Aavas considers applicants with varying credit scores, including those with a credit score of (-1). However, a CIBIL score of 750 improves loan eligibility and may result in better loan terms and interest rates.
Yes, Aavas offers home loan balance transfer services, allowing borrowers to transfer their existing home loans from other financial institutions. This helps in reducing EMIs and availing additional top-up loans, making loan repayment more affordable.
Yes, applicants must provide essential property-related documents, including sale agreements, title deeds, property tax receipts, and approved building plans. These documents help verify property ownership and ensure smooth loan processing with Aavas Housing Finance.
The Aavas Home Loan EMI Calculator helps estimate monthly installments based on loan amount, tenure, and interest rate. Simply enter these details into the calculator to get an instant EMI estimate, making financial planning easier before applying for a loan.
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