Aditya Birla Finance Home Loan

Features & Benefits of Aditya Birla Finance Home Loan

The institution provides customised home loans for all its customers. Here are some significant benefits and features: 

• Competitive interest rates
• Loan repayment is available for 30 years. However, all loans will be controlled by Aditya Birla Finance Home Loan only.
• Quick amount disbursal.
• Transparent procedure and with minimal hassles.
• No prepayment charges for floating rates home loans.
• An engaging balance transfer feature is available for all.
• Services at your door.

Aditya Birla Finance Home Loan Eligibility Criteria

The eligibility criteria to apply for an Aditya Birla Finance home loan is as follows:

• The minimum age of the individual applying for the loan must be 21 years.
• The maximum age of the individual at the time of maturity must be

a) 70 years for a self-employed person and 

b) 60 years for a salaried person.

Here is a table representing loan to property value, variable as per the price of the house.

Aditya Birla Finance Home Loan Fees and Charges

The table below highlights the fees and interest rates charged by Aditya Birla Finance Home Loan:

Note: All the charges are the same for every customer. However, actual costs, if different, actual costs will be considered at the time of loan sanction and disbursal of the loan amount. Also, these would be subjected to market risk and changes.​​

Note: GST @ 18% will be levied on fees and other charges mentioned in the table.

Types of Home Loan Offered By Aditya Birla Finance

The different types of home loans offered by Aditya Birla Finance are mentioned below: 

• Home loan: Aditya Birla Housing Finance provides home loans so that their customers can live and finance their dream homes. This home loan is simple, flexible, and gives its customers the  option to choose their tenure and loan amount. 
• Loan for Home Expansion: The loan for home expansion is for those who want to extend their living area. This loan amount will cover the cost of constructing an additional room or space for an existing structure.
• Loan for Home Construction: A home construction loan is for people who want to construct a house or property already owned by them. This loan will help them in constructing their project.
• Loan for Home Improvement: This home loan is designed for customers who want to renovate or improve their homes. Since home renovations can be expensive, this loan can help facilitate them financially.
• Loan for buying a Plot or Constructing a Home: This loan type is designed for customers who want to buy land and construct a house on it under a stipulated period of time. This loan is disbursed in the form of instalments.

Documents Required for Aditya Birla Finance Home Loan

The document required for Aditya Birla Finance Home loan application differs slightly based on the employment of an individual. These documents will differ between a salaried and a self-employed individual.

Here is a table representing the documents and the purpose of each document.

How does the EMI Calculation Work for Aditya Birla Finance Home Loan?

Calculating your EMIs before even applying for a loan can make your work easy and hassle-free in the long term. You can also use the Urban Money home loan EMI calculator and find the perfect tenure, interest rate, and loan amount. However, to manually calculate the EMIs you can use the below-written formula:

EMI = (P × R × (1+r)^n)/((1+r)^n-1) 

Here,

• P stands for the principal loan amount
• R is the interest rate
• N is the loan tenure (can be up to 30 years)