Aditya Birla Finance Home Loan for Senior Citizens and Pensioners

Aditya Birla Housing Finance Limited offers specialised home loan products for senior citizens and pensioners. These special home loans aims to provide financial support for older individuals looking to purchase or build their dream home, ensuring stability and security during retirement. The Aditya Birla Finance Limited Home Loan considers the unique financial situations of retirees, featuring flexible repayment options and competitive interest rates to accommodate their fixed income sources. This initiative helps senior citizens achieve their housing goals and provides them with a sense of accomplishment and peace of mind in their later years.

Aditya Birla Finance Limited Home Loan for Senior Citizen – Highlights

Below is a table summarising the key details of the Aditya Birla Housing Finance Limited Home Loan, which offers a range of attractive features tailored to meet the diverse needs of borrowers:

Aditya Birla Finance Limited Home Loan for Senior Citizen – Fees and Charges

The Aditya Birla Finance Limited Home Loan includes specific fees and charges for senior citizens to ensure transparent financial transactions. The fees include a processing fee of up to 1% of the loan amount. There are no prepayment charges for individuals with floating rate loans. However, for non-floating rate loans, the pre-closure fees are 2% of the principal outstanding.

Aditya Birla Finance Limited Home Loan for Senior Citizen – Documents Required

For the Aditya Birla Finance Limited Home Loan for Senior Citizens, applicants need to provide a comprehensive set of documents:

• Proof of Identity and Address: Various documents are accepted to verify identity and residence across different applicant types, including salaried, self-employed, professionals, partnerships, and companies.
• Proof of Income: Salaried applicants must present recent salary slips and Form 16. Self-employed individuals and professionals should provide IT returns and income computations for the last two years certified by a chartered accountant.
• Bank Statements: Statements where income or salary is credited, covering the latest six months.
• Proof of Other Income: If applicants have additional income sources, documents such as rental receipts are needed.
• Property Documents: Includes a copy of title documents and approved sanction plan.

Aditya Birla Finance Limited Home Loan for Senior Citizen – Eligibility Criteria 

The eligibility criteria for the Aditya Birla Finance Limited Home Loan for Senior Citizens are outlined as follows:

• Minimum Age Requirement: Applicants need to be at least 21 years old.
• Maximum Age at Loan Maturity: The age cap is 60 years for salaried individuals and 70 years for self-employed persons.
• Loan to Value Ratios: Financing is provided up to 90% for loans not exceeding ₹30 Lakhs, 80% for loans between ₹30 Lakhs and ₹75 Lakhs, and 75% for loans above ₹75 Lakhs.