Discover Hinduja Housing Finance’s home loan offerings with attractive interest rates starting at 10.50% p.a. and flexible tenures of up to 25 years. You can borrow up to ₹1 crore for a range of property needs, from purchasing plots and building homes to renovating or expanding existing properties. Hinduja Housing Finance also provides tailored solutions for NRIs and pensioners, as well as easy top-up loans and balance transfer options to streamline your financial management.
Hinduja Housing Finance Home Loan Highlights
Check Hinduja Housing Finance home loan interest rates, eligibility, required documents, EMI details, and the application process. Apply now and get up to 100% funding.
| Category | Highlights |
|---|---|
| Interest Rate | From 10.50% p.a onwards |
| Loan Amount | Up to 90% of the property value |
| Loan Tenure | 25 Years |
| Processing Charges | 1.00 % of loan amount |
| Foreclosure Charges | NIL |
Hinduja Housing Finance Home Loan Interest Rates
Hinduja Housing Finance floating interest rates for both salaried and self-employed borrowers. Rates strating from 10.50% p.a. onwards for Home Loans depending on borrower profiles and loan terms. You can choose a fixed rate or a floating rate, according to your financial situation.
Compare Home Loan Interest Rate Offered by Top Banks
Comparing home loan interest rates from leading banks helps you identify affordable financing options. Get a clearer view of each lender’s terms and choose the best home loan that matches your budget and financial goals.
| 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 |
Hinduja Housing Finance Home Loan Processing Fees
Hinduja Housing Finance takes processing fees to cover the cost of reviewing your documents and assessing your loan application.
| Category | Processing Fees |
|---|---|
| Processing Fees (Home Loan) | Rs. 4,600 |
| Charges for Prepayment/Foreclosure | 2% of principal prepaid + taxes |
Hinduja Housing Finance: Top Home Loan Schemes
Hinduja Housing Finance provides a variety of home loan schemes tailored to meet different needs. These include Home Loans for property purchases, Top-Up Loans for additional financial needs, loans for NRIs and HNIs, Overdraft (OD) Loans for flexible funding, and loans for Home Renovation or Extensions.
Hinduja Housing Finance Self-Construction Loan
Hinduja Housing Finance provides Self-Construction Loans for building residential properties on freehold or leasehold plots, including those allotted by a Development Authority. These loans cater to individuals who already own a plot and require financial assistance for construction. Designed to support customers in creating their dream homes, this tailored loan product offers funding of up to 80% of the sanctioned amount.
Hinduja Housing Finance New Property Loan
Hinduja Housing Finance makes homeownership more accessible through its unique credit assessment model, combining document evaluation with a personalized understanding of customers’ needs and aspirations. Recognizing that owning a home is a symbol of prestige, the company offers affordable home loans with minimal documentation for purchasing flats, row houses, and bungalows from private developers in approved projects, as well as properties promoted by development authorities like CMDA.
Hinduja Housing Finance Resale Home Loans
Hinduja Housing Finance offers hassle-free resale home loans for purchasing properties in existing Co-operative Housing Societies, Apartment Owners’ Associations, Development Authority settlements, and privately built homes.
Hinduja Housing Finance Home Extension Loans
Hinduja Housing Finance provides Home Extension Loans for both existing and new customers, enabling them to modify their homes through tiling, flooring, internal and external plastering, and other enhancements.
Check Out: Loan Against Property Calculator
Hinduja Housing Finance Home Improvement Loans
Hinduja Housing Finance offers Home Improvement Loans for both existing and new customers, covering complete renovation, home upgradation, repairs, external and internal painting, waterproofing, roofing, tiling, flooring, plumbing, electrical work, false ceiling, fixed woodwork, and extensions to add space to their homes.
Must Read: Find Out How Much You Can Save with a Home Loan Overdraft
Hinduja Housing Finance Balance Transfer
Hinduja Housing Finance offers a smart way to reduce home loan repayments by transferring outstanding balances from another bank or financial institution. By switching to Hinduja Housing Finance, customers can lower their monthly installments, easing their financial burden and allowing them to save for the things that truly matter to them and their families.
Hinduja Housing Finance Loan Against Property
Hinduja Housing Finance provides a comprehensive range of home loan services, ensuring a seamless application process through its widespread branch network across India. With a strong service delivery model and market-aligned credit and financial policies, the company fosters long-term relationships built on trust and commitment.
Hinduja Housing Finance Home Loan EMI Calculator
EMI is a fixed monthly amount that you are required to pay to the bank until your home loan is fully repaid.
Calculate your home loan EMI and estimate your monthly repayments. You can adjust loan amounts and tenures, and make well-informed decisions before committing to the bank.
How to Calculate Hinduja Housing Finance Home Loan EMI?
Home loan EMI is calculated using a mathematical equation:
EMI = [P*r*(1+r)^n]/ [(1+r)^n -1]
Where:
P = Principal (loan amount borrowed)
r = Interest rate
n = Total number of monthly installments (loan tenure in years*12)
Example: Case Study | Home Loan EMI 20 vs 30 Years
Aman, a young professional living in Mumbai, has just found his dream home – a spacious 3BHK apartment near his workplace. He decides to take a home loan from the Hinduja Housing Finance to finance the purchase.
Before signing the loan agreement, Aman wants a clear picture of how much he’ll need to pay every month. To figure this out, he calculates his EMI using the loan’s details.
Home Loan Amount: ₹50,00,000 (₹50 lakh)
Rate of Interest: 8.35% p.a.
But, he is considering two options:
- A 20-Year Loan (240 months)
- A 30-Year Loan (360 months)
Longer Tenure = Lower EMI = Higher Interest Payments
Let’s apply the EMI formula to both scenarios:
| Home Loan Amount | Interest Rate | Tenure | EMI | Interest Payment | Total Payment | |
|---|---|---|---|---|---|---|
| Scenario 1 | ₹50,00,000 | 8.35% p.a. | 20 years | ₹42,918 | ₹53,00,236 | ₹ 1,03,00,236 |
| Scenario 2 | ₹50,00,000 | 8.35% p.a. | 30 years | ₹37,915 | ₹86,49,548 | ₹ 1,36,49,548 |
Which Option Is Better and Why?
If Your Goal Is Long-Term Savings: Opt for the 20-year loan.
- Although the monthly EMI is higher, your total interest outflow is much lower.
- Over time, you save more than ₹33 lakh in interest compared to the 30-year option.
If Your Goal Is Immediate Affordability: Choose the 30-year loan.
- However, this comes at a significant long-term cost, as you’ll end up paying much more in total interest over the life of the loan.
- You’ll pay a lower EMI each month, easing short-term financial burden.
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.
Hinduja Housing Finance Home Loan Eligibility Criteria
Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by Hinduja Housing Finance:
| Criteria | Requirements |
|---|---|
| Age | 18-70 years |
| Nationality | Indian/ NRI/ PIO |
| Employment | Minimum 3 years of work experience in a public or private sector company, or an MNC |
Documents Required For Hinduja Housing Finance Home Loans
When applying for a home loan with the Hinduja Housing Finance, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:
General Documents
| Category | Documents Required |
|---|---|
| Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
| Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Hinduja Housing Finance Home Loan Tenure
Home loan tenure refers to the duration over which the borrower agrees to repay the loan amount along with interest. Hinduja Housing Finance offers flexible tenure options to accommodate varying financial situations and preferences. Here’s an overview:
- Minimum Tenure: 5 years
- Maximum Tenure: 30 years
Read More: How to Reduce Your Home Loan Tenure?
Impact of Home Loan Tenure on EMIs
- EMI: Longer tenure results in lower monthly EMIs; shorter tenure leads to higher EMIs.
- Interest Payments: Extended tenure increases the total interest, while a reduced tenure decreases it.
- Budget: Longer tenure eases monthly budget strain, whereas shorter tenure requires higher income stability
- Cash Flow: Longer tenure frees up cash for other investments, while shorter tenure ties up more funds in EMIs.
How to Choose the Best Hinduja Housing Finance Home Loan Tenure?
- Assess income, expenses, and job security for consistent repayments.
- Opt for shorter tenures to reduce overall interest costs.
- Choose EMIs that fit comfortably within your budget.
- Calculate total interest to minimize long-term costs.
- Check for prepayment options without heavy penalties.
- Align tenure with long-term financial goals.
- Plan to settle the loan before retirement.
- Factor in potential salary growth for shorter tenures.
- Balance EMI affordability with loan tenure.
How To Apply For a Home Loan From Hinduja Housing Finance?
- Check Eligibility Criteria: Verify age, income, credit score, and employment status.
- Calculate Loan Amount and EMI: Use Hinduja Housing Finance’s online calculator to determine affordable loan amounts and monthly installments.
- Gather Required Documents: Collect identity proof, address proof, income statements, and property-related documents.
- Choose Application Method: Apply online through Hinduja Housing Finance’s website or visit a nearby branch in person.
- Submit the Application: Complete the application form accurately and attach all necessary documents.
- Loan Processing and Verification: The bank reviews your application, verifies documents, and conducts a credit appraisal.
- Property Valuation and Legal Checks: Hinduja Housing Finance assesses the property’s market value and performs legal due diligence.
- Receive Approval and Sanction Letter: Upon successful verification, you receive a loan approval and sanction letter detailing terms.
- Sign the Agreement: Review and sign the loan agreement, agreeing to the specified terms and conditions.
- Disbursement of Funds: The approved loan amount is transferred to your account or directly to the property seller.
- Complete Post-Disbursement Formalities: Finalize any remaining documentation and set up repayment methods for EMIs.
Read More: Home Loans in Bangalore
Hinduja Housing Finance Home Loan: Minimum and Maximum Loan Amount
Hinduja Housing Finance offers home loans that cater to various financial situations. From first-time buyers needing a smaller loan to those looking to invest in premium real estate, knowing the minimum and maximum amounts available can simplify your search.
Home Loan Types | Maximum and Minimum Loan Amount |
|---|---|
| Home Extension Loan | 75% – 90% of the property value |
| Home Loan | 75% – 90% of the property value |
| Home Improvement Loan | 75% – 90% of the property value |
| Plot + Construction Loans | 75% – 90% of the property value |
Hinduja Housing Finance Customer Care Contact Details
To facilitate effective communication with customers, in addition, Hinduja Housing Finance offers various channels for customer support.
| Contact Category | Details |
|---|---|
| Email ID | customercare@dhanbank.co.in |
| Toll-free Number | 0487-2999711 |
| Official Address | Dhanlaxmi Bank Ltd. Dhanalakshmi Buildings P.B No.9 , Naickanal, Thrissur. Kerala – 680001 |
| Website | https://www.dhanbank.com/ |
Hinduja Housing Finance Home Loan Centers Near You
Finding the right support when applying for a home loan is crucial to making your homeownership dreams a reality. Hinduja Housing Finance has multiple home loan centers nationwide to provide you with convenient access to expert advice and personalized services.
Check out the nearest Hinduja Housing Finance branch using our branch locator tool.
Hinduja Housing Finance Home Loan Approval and Disbursal
Hinduja Housing Finance is committed to processing home loan applications with utmost efficiency. Typically, the entire approval process is completed within 15 to 30 working days from the date of application submission.
However, this timeline may vary based on several key factors:
- Completeness of documents
- Property type and location
- Applicant’s financial profile and credit score
Hinduja Housing Finance Home Loan Disbursement Process
Hinduja Housing Finance ensures a compliant and efficient home loan disbursement through a three-stage process: Application, Sanction, and Disbursement.
1. Application for Home Loan
Applicants are required to complete the home loan application form, providing necessary personal, income, and property documents and details.
2. Home Loan Sanction
Upon submission, BOI reviews the application and documents. Legal and technical experts assess the property’s compliance and condition.
3. Home Loan Disbursement
After receiving the sanction letter, the borrower is required to complete the down payment and submit final property documents for loan disbursement.
Types of Disbursement
- Full Disbursement: Entire loan amount released if the property is fully constructed
- Partial Disbursement: Loan disbursed in stages based on construction progress for under-construction properties
How to Maximize the Chances of Hinduja Housing Finance Home Loan Approval?
- Maintain a high credit score
- Showcase strong financial stability
- Reduce existing debt obligations
- Provide complete and accurate documentation
- Pay sufficient down payment
- Choose property in approved locations
- Maintain consistent employment history
- Avoid multiple loan applications simultaneously
- Submit clear and legal property documents
- Ensure proper property valuation
- Keep income tax returns up to date
- Maintain low credit utilization ratio
Home Loan Insurance
Home loan insurance, is a safety net designed to protect both borrowers and lenders during the home loan tenure. It ensures that in unforeseen circumstances such as critical illness, disability, or death, the borrower’s family is not burdened with repaying the loan, while providing lenders with financial security against default. By covering the outstanding loan amount in such situations, home loan insurance offers peace of mind and financial stability, allowing borrowers to secure their homes and focus on enjoying them without undue worry.
Check Out : Home Loan Insurance Calculator
Is Home Loan Insurance Mandatory?
Although not legally mandated, Hinduja Housing Finance makes it mandatory for its customers to obtain a home loan insurance.
Benefits of Opting a Home Loan Insurance Premium
- Financial Security: Ensures loan repayment during unforeseen events.
- Comprehensive Protection: Covers critical illness, accidents, and death.
- Joint Borrower Coverage: Protects both borrowers under one policy.
- Reduced Financial Stress: Lessens financial burden on dependents.
- Tax Benefits: Possible tax deductions on premium payments.
- Peace of Mind: Guarantees loan liability coverage in emergencies.
Hinduja Housing Finance Home Loan Tax Benefits
Home loans offer significant tax benefits under the Income Tax Act, 1961. These benefits apply to both the principal amount and interest paid, making home loans more cost-effective.
| Section | Deduction Type | Maximum Deduction Amount | Conditions |
|---|---|---|---|
| 80C | Principal Repayment of Home Loan | ₹1.5 Lakh per annum | The house property must not be sold within five years of possession. |
| 80C | Payment of Stamp Duty | ₹1.5 Lakh per annum | These expenses can only be claimed in the year they are incurred. |
| 24b | Interest Payment on Home Loan | ₹2 Lakh per annum | The loan must be taken for purchasing or constructing a house. If constructing a house, the construction must be completed within five years from the end of the financial year in which the loan was taken. If the property is let out (rented), there is no cap on the interest deduction under Section 24(b). This allows property owners renting out their property to claim full interest payments as a deduction. |
Note: Section 80C also covers other investments like Public Provident Fund (PPF), Equity-Linked Savings Scheme (ELSS), and more, up to a combined total limit of ₹1.5 lakh.
1. Section 24B – Deduction on Home Loan Interest
What It Is:
- Allows you to claim a deduction on the interest paid on your home loan.
Benefits:
- Self-Occupied Property: Deduct up to ₹2 lakh per year on interest payments.
- Rented Property: No upper limit on the interest amount you can claim.
Example
| Category | Amount |
|---|---|
| Loan Amount | Rs. 70,00,000 |
| Interest Payable Per Year | Rs. 4 Lakhs |
| Tax Deduction | Rs. 2 Lakhs/ Year |
| Tax Bracket | 30% |
| Tax Benefits per Year | Rs. 66,000 |
2. Section 80C – Deduction on Principal Repayment
What It Is:
- Allows deduction on the principal portion of your home loan repayments, up to ₹1.5 lakh per year.
Benefits:
- Reduces your taxable income by the principal amount repaid.
- Also includes stamp duty and registration charges (one-time claim in the year incurred).
Example
| Category | Amount |
|---|---|
| Loan Amount | Rs. 75,00,000 |
| Principal Payable Per Year | Rs. 3.5 Lakhs |
| Tax Deduction | Rs. 1.5 Lakhs per Year |
| Tax Bracket | 30% |
| Tax Benefits per Year | 50,000 |
Total Tax Benefits (Section 24B + Section 80C = Rs. 1.16 Lakhs/ Year
3. Joint Home Loans – Double the Benefits
What It Is:
- When two or more people take a joint home loan and are co-owners of the property.
Benefits:
- Section 24B: Each co-borrower can claim up to ₹2 lakh on interest.
- Section 80C: Each can claim up to ₹1.5 lakh on principal repayment.
- Total Tax Savings: Potentially ₹1.05 lakh per person per year (at 30% tax rate).
Who is Eligible to be a Co-Applicant?
- Father/ Mother
- Unmarried Daughter
- Siblings
- Husband/ Wife
(Minors cannot be considered as co-applicants for a Home Loan)
Example
| Category | Co Applicant 1 | Co Applicant 2 |
|---|---|---|
| Tax Deduction under 24B | Rs. 2 Lakhs/ Year | Rs. 2 Lakhs/ Year |
| Tax Deduction under 80C | Rs. 1.5 Lakhs/ Year | Rs. 1.5 Lakhs/ Year |
| Tax Deductions/ Year | Rs. 3.5 Lakhs/ Year | Rs. 3.5 Lakhs/ Year |
| Tax Bracket | 30% | 30% |
| Tax Benefits | Rs. 1.16 Lakhs/ Year | Rs. 1.16 Lakhs/ Year |
When you opt for a co-applicant on your home loan, the savings can be substantial due to the ability to claim tax deductions separately. For example, with a co-applicant, the total tax savings can amount to ₹2.32 lakhs annually. Here’s how it works:
- EMI Paid per Year: ₹60,000 x 12 = ₹7,20,000
- Money Saved through Tax Deductions: ₹2,32,000
- Net Money Paid after Deductions: ₹7,20,000 – ₹2,32,000 = ₹4.88 lakhs
By utilising this tax benefit, you effectively lower your financial outflow, paying only ₹4.88 lakhs per year instead of the full ₹7.20 lakhs.
Read More: Stamp Duty and Registration Charges in Bihar
Why Should You Choose Hinduja Housing Finance For Your Home Loan?
- Hassle-Free Application: Enjoy a seamless home loan application process with doorstep document pick-up and no need for branch visits.
- Customized Repayment Options: For under-construction properties, pay only part of your EMIs initially with tailored repayment plans.
- External Benchmark Linked Loans: Link your home loan interest rate to an external benchmark, such as the Repo Rate.
- Disbursal in 48 Hours*: Expect loan disbursal within 48 hours after completing application and documentation verification.
- Easy and simple online account management
How Credit Dharma Simplifies The Home Loan Journey?
Buying a home is a big step. Getting a home loan can be hard, but we make it easy. At Credit Dharma, we make this possible by offering lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.
But that is not it. We offer:
- Guaranteed up to 100% funding
- Receive lifetime assistance and expert guidance long after your loan is approved.
- Enjoy a fully digital process with minimal paperwork
- Get your loan approved within just 1-2 weeks.
Dhanalakshmi Bank offers personal loans with interest rates starting at 8.60% per annum.
The minimum balance requirement varies by account type; for specific details, please refer to the bank’s official schedule of charges.
Eligibility for Dhanalakshmi Bank’s personal loans includes being over 23 years old, with salaried applicants needing a minimum monthly income of ₹35,000 and self-employed individuals requiring an annual income of at least ₹1.8 lakh.
Dhanalakshmi Bank is a private sector bank headquartered in Thrissur, Kerala, India.
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