Poonawalla Fincorp Home Construction Loan

Home Loan By Property

The Poonawalla Fincorp Limited construction loan is an exclusive credit option. Unlike traditional home loans used to purchase existing homes, construction loans provide the necessary funds to cover the costs associated with building a new home from the ground up. Eligible applicants may receive loans up to ₹5 crores, with interest rates starting at just 9% per annum—one of the best rates available. Urban Money presents a complete overview of the Poonawalla Fincorp Limited house construction loan to help you make a more informed decision. We primarily cover the Poonawalla Fincorp Limited construction loan interest rates, eligibility criteria, required documents, and associated fees. Let’s take a closer look.

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Table of Content

1. Poonawalla Fincorp Limited Construction Loan Highlights

2. Poonawalla Fincorp Limited Construction Loan Interest Rates

3. Poonawalla Fincorp Limited Construction Loan Fees and Charges

4. Poonawalla Fincorp Limited Construction Loan Eligibility Criteria

5. Poonawalla Fincorp Limited Construction Loan Documents Required

6. Features of Poonawalla Fincorp Limited Construction Loans

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Poonawalla Fincorp Limited Construction Loan – Highlights

Here are the key parameters of the Poonawalla Fincorp Limited construction loan:

Loan Amount	₹51 L – ₹5 Cr
Loan Tenure	15 years
Purpose	Self-construction
Eligibility	Both salaried and self-employed individuals

Poonawalla Fincorp Limited Construction Loan Interest Rates

The Poonawalla Fincorp Limited construction loan interest rate details are given below:

Minimum Rate of Interest	Maximum Rate of Interest
9% p.a.	22% p.a.

Poonawalla Fincorp Limited Construction Loan Fees and Charges

Let’s examine the fees and charges associated with the Poonawalla Fincorp Limited house construction loan.

Fee/Charge	Amount
Processing Fee	Up to 1% of the loan amount
Foreclosure Charges	4% of the repayment amount
Late payment Charges	2% per month
Stamp Duty	As per the state law
Legal Charges	At actuals

Poonawalla Fincorp Limited Construction Loan Eligibility Criteria

Here are the applicable eligibility criteria for a Poonawalla Fincorp Limited home construction loan:

Parameters	Salaried individuals	Self-employed individuals
Age Limits	21 – 60	18 – 75
Work Experience	3 years	5 years
Nationality	Indian	Indian

Poonawalla Fincorp Limited Construction Loan Documents Required

Here are the necessary documents required for a home construction loan in Poonawalla Fincorp Limited:

Identity Documents	PAN Card, aadhaar card, driving license, election identity card, or passport.
Address Documents	Electricity bill, rent agreement, or passport.
Financial Documents	3-month salary slips and 6-month bank account statement (Applicable to salaried individuals)
Business Documents	2-year income tax return, profit/loss statement, balance sheet, and bank statement for the last 12 months. (Applicable to self-employed)

Features of Poonawalla Fincorp Limited Construction Loans

Here are the features of a Poonawalla Fincorp Limited construction loan:

Higher loan amount
Competitive interest rates
Online application process
Minimal documentation
Transparent processes
Fast loan approval.

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