Hero Housing Finance Plot loans

A Hero Housing Finance Plot Loan is a loan meant to buy land where you plan to build a house. It helps you get the money you need to purchase a plot of land that meets the lender's requirements. This loan is designed to make it easier for you to invest in property and start building your home or make a real estate investment. The loan terms, like how much you can borrow, the interest rates, how long you have to pay it back, and who can apply, are all set up to suit buying land for construction. To know these details, you need to scroll through this page curated by our experts in finance.

Hero Housing Finance Plot Loan Interest Rates

Here are the interest rates for the Hero Housing Finance Plot Loan:

Hero Housing Finance Plot Loan Fees And Charges

Here are the fees and charges associated with the Hero Housing Finance Plot Loan:

Hero Housing Finance Plot Loan Eligibility Criteria For Salaried

For salaried individuals seeking a plot loan from Hero Housing Finance, eligibility requirements include:

• Being at least 21 years old at the time of application.
• They must furnish proof of a stable income, such as recent salary slips (6 months for variable income), Form 16, and bank statements reflecting salary credits over the past 3 months.
• They must submit identification documents like Aadhar card, PAN card, passport, and address proof.
• During the application review, the lender also assesses factors such as credit score, employment history, and details of the employer.

Hero Housing Finance Plot Loan Eligibility Criteria For Self-Employed

Here are the eligibility criteria for self-employed individuals applying for a plot loan from Hero Housing Finance:

• Age: Minimum 21 years at the time of application.
• Income Proof: Income Tax Returns (ITR) for the last 2 years, along with Profit & Loss statement and Balance Sheet with notes to accounts. If applicable, GST returns for the last year.
• Credit Score: The lender evaluates the applicant’s credit score, employment history, and business stability.

Hero Housing Finance Plot Loan Documents Required For Salaried

Documents required for salaried individuals applying for a plot loan from Hero Housing Finance:

• Identity Proof: Aadhar Card, PAN Card, Passport, Voter ID, Driving License
• Address Proof: Aadhar Card, Driving License, Voter ID, Passport
• Relationship Proof (if applicable): Aadhar Card, PAN Card, Passport, Voter ID, Driving License
• Age Proof: Passport, Aadhar Card, Driving License, PAN Card
• Income Documents: Last 2 months’ salary slips (6 months if variable), Form 16, Last 3 months’ bank statements showing salary credits, Appointment letter with salary breakup.
• Property Documents: Previous chain of ownership documents covering at least the last 13 years

Hero Housing Finance Plot Loan Documents Required For Self-Employed

For self-employed individuals applying for a plot loan with Hero Housing Finance, you’ll need to provide these documents:

• Identity Proof  
• Address Proof  
• Relationship Proof (if applicable)
• Age Proof
• Income Documents
• Property Documents

Features Of Hero Housing Finance Plot Loans

Below are the features of Hero Housing Finance Plot Loans:

• Offers loans for buying residential plots or land.
• Depending on the plot’s value, you can get loans up to Rs 3 crore.
• You can repay over up to 30 years, giving you flexibility.
• Get your loan quickly with minimal paperwork.
• Switch your existing plot loan to Hero Housing Finance for potentially lower rates.
• Options for paying off your loan early without extra fees in certain cases.

Things To Remember While Applying For A Hero Housing Finance Plot Loan

Here are points to remember when applying for a Hero Housing Finance Plot Loan:

• Purpose: Ensure the plot is eligible for financing.
• Eligibility: Meet requirements for your employment type.
• Prepayment: Check charges for early loan repayment.
• Customer Support: Know how to reach customer service for assistance.