Aditya Birla Home Loan offers home loan at an interest rate starting @8.60% p.a. for a loan tenure of up to 30 years. It provides a loan amounting to 90% of the property cost. The existing borrowers of home loan of other banks or HFC’s can avail Aditya Birla Loan to get their existing home loans transferred to Aditya Birla Housing Finance Company at lower rate of interests. Also, the housing finance company offers a special home loan scheme ABHFL affordable housing which provides affordable home loans in selected cities of India.
Calculating home loan EMI has now become easier with the Aditya Birla Bank Home Loan EMI Calculator. Whether it is a 50 Lakh Home Loan EMI for 15 years or a 1 Crore Home Loan EMI for 8 years, the EMI Calculator can be used to ascertain the EMI amount along with the home loan interest rates. EMI Calculator is an easy-to-operate tool that helps in planning the home loan EMI. It requires some basic details of the home loan that is to be availed. Hence, the outcome completely depends on the information provided by the applicant. This is the reason any Bank does not provides any guarantee to the accuracy, correctness, or completeness of the details provided.
| Aditya Birla Home Loan Highlights | |
| Interest Rate | Starting from 8.60% per annum onwards |
| Loan Amount | Maximum up to 90% of property value |
| Tenure of Loan | 30 years |
| Processing Charges | Equals 1% of loan amount + GST |
Factors Determining Home Loan Eligibility
Mentioned are the factors determining home loan eligibility:
- Income of all applicants.
- Age of the primary applicant
- Other income, existing EMIs
- Repayment Capacity
- Stable and continuity of the occupation of the primary applicant.
- Credit Score
Eligibility Criteria
Mentioned are the eligibility parameters that are to be met in order to apply for Aditya Birla Home Loan:
- An applicant can either be a salaried or self-employed individual.
- The minimum age of an applicant should be 21 years.
- The maximum age in case of a salaried applicant is 60 years.
- The maximum age in case of a self-employed applicant is 70 years.
- The minimum income varies depending upon the case.
- The credit score should preferably be a minimum of 750 or above.
Interest Rates
Mentioned below are the Best Home Loan Interest Rates offered by Aditya Birla:
| Type of Employment | Rate of Interest (p.a.) |
| In case of Salaried Applicants | Starting from 8.60% p.a. |
| For Self Employed Applicants | Starting from 8.75% p.a. |
Documents Required
Mentioned below is the list of documents required
- Duly filled and signed Home Loan application form
- Passport size photographs
- Identity Proof (Anyone):
- Aadhaar Card
- PAN Card
- Passport
- Driving License
- Voter ID Card
- Proof of Residence (Anyone):
- Aadhaar Card
- Passport
- Driving License
- Telephone Bill
- Ration Card
- Election Card
- Any other Certificate from Statutory Authority
- Property Documents:
- Title documents copy
- Approved sanction plan
- Account Statement: Bank account statements for last six months
- Income Proof (In case of Salaried Applicants): Salary slips of the last 3 months showing deductions and a copy of Form 16
- Income Proof (In case of Non-Salaried Applicants): ITR or financial documents for the last two years and income computation certified by a CA for the last two years
Other Income Proof: Rental receipts or documents showing receipt of income
Processing Fees and Charges
Mentioned below are the processing fees and charges associated with Aditya Birla Home Loan:
| Particulars | Charges and Fees |
| Processing fees | It is up to 1% of the loan amount |
| Part-Payment or Pre-Closure Charges ā | When floating rate loans provided to individuals – There are no charges When fixed rate loan provided to individuals (Pre-closed by own sources): No charges Home loans (i.e. apart from floating rate home loans) to individuals: It is 2% of outstanding principal that is paid |
| Default Penal Interest Rate / stipulated conditions/ Non Conformance with any covenants | It is 24% p.a. i.e. 2% per month |
| Cheque Return Charges/ NACH failure charges | It amounts to INR 750 per instance |
| Overdue Charge | It is 2% p.m. on payment that is overdue |
| Revision of Fixed to floating rate and vice-versa/ tenure at the discretion of ABHFL/ revision in loan interest rate | 2% of the loan outstanding |
Different Types of Home Loan offered by Aditya Birla
Aditya Birla Home Loan caters different loan requirements as per the varied choice of the customers. It offers home loan for many different reasons:
- Aditya Birla Home Loan:
- To purchase or resale residential property.
- For loan amount up to 90% of the property value.
- For repayment period of up to 30 years.
- It also provides an option of Home Loan Balance Transfer for existing home loan borrowers who want to get their outstanding home loan transferred from other lender banks to Aditya Birla Housing Finance.
- Aditya Birla Home Extension Loan:
- This loan is offered to bear the financing costs associated with home extension like addition of an extra room and floors, etc.
- For repayment period of up to 20 years.
- It also provides an option of Home Loan Balance Transfer for existing home loan borrowers who want to get their outstanding home loan transferred from other lender banks to Aditya Birla Housing Finance.
- Aditya Birla Home Improvement Loan:
- It covers all expenses related to home renovation like repairing, flooring, water-proofing, false ceiling, woodwork, plumbing, woodwork, and tiling of an already purchased house.
- For repayment period of up to 10 years.
- Aditya Birla Plot and Construction Loan:
- To buy a residential plot and build house within the next few years.
- For repayment period of up to 20 years.
- Aditya Birla Home Construction Loan:
- To build a house on an existing owned plot.
- For repayment period of up to 20 years.
- Aditya Birla PMAY and Affordable Housing:
- It offers different types of loans like Home Purchase Loan, Home Improvement Loan, and Plot Plus Home Construction Loan.
- It provides loans along with Credit Linked Subsidy Scheme i.e. CLSS under the Pradhan Mantri Awas Yojana i.e. PMAY to the eligible customers.
- It offers easy EMIs or structured repayment options.
- For repayment period of up to 30 years.
- It also provides an option of Home Loan Balance Transfer for existing home loan borrowers who want to get their outstanding home loan transferred from other lender banks to Aditya Birla Housing Finance at low rate of interest.