Housing finance, offered by banks and other financial institutions, is an appealing option for people on the lookout for new homes. Aadhaar housing finance is one such financial corporation that offers loans to different individuals depending on their economic backgrounds.
Aadhaar Finance, backed by the Government of India is one of the larget affordable housing companied in India.
Home loans which are offered by Aadhaar Housing Finance aid homebuyers of various socio-economic categories to build homes or buy them. The company was created in 2010 and operates across the length and breadth of India. Here are some key features of loans from Aadhaar Housing Finance:
Aadhaar Finance offers interest rates that range from 11.75% to 17% per annum. It is important to note that loans of up to Rs. 1 crore are offered to purchase a home. Additionally, interest rates differ based on whether a person is salaried or self-employed. Note the table below:
To apply for a loan from Aadhaar Housing Finance, individuals are required to fulfil certain eligibility criteria first -
Planning to take a home loan from Aadhaar Finance? Then you need to have some official documents to prove your eligibility to avail the loan -
Income Proof - Salaried individuals must provide salary slips for the past six months, copies of bank statements for the past six months, and a company profile of the employer. Alternatively, IT returns for the last three years may be provided.
For self-employed individuals, IT returns of the last three years, the profit and loss balance sheet, bank statements for the past year, business profile of the company/business, a TDS deduction certificate, a registration document, and a copy of a professional practice certificate (if applicable) must be submitted.
Identification Proof - For both salaried employees and self-employed people, Aadhaar Housing Finance Ltd. requires that all applicants submit either an Aadhaar Card, Pan Card, Voter ID, Passport, or Driving Licence as proof of identification.
Proof of Residential Address - Applicants must submit either an Aadhaar Card, a passport, a ration card, an electricity bill, a telephone bill, or a letter from an employer (in case of a salaried individual).
Before you take any loan, especially a home loan with a relatively long tenure, you should be sure that you are able to pay it back. On the website of Aadhaar Housing Finance, you can locate an EMI calculator for calculating your EMIs according to different loan tenures as well as various loan amounts. This way, you can select a tenure and an amount that aligns with your individual budget and loan requirements at the same time.
In terms of loans, Aadhaar Housing Finance offers potential homebuyers competitive interest rates. On enquiry, you can get special rates of interest for women and make your loan even more cost-effective. The company has made it easy to fulfil the dreams of owning a home for several Indians.
Housing finance in India means the financing that individuals receive (in the form of loans) from banks and financial companies to buy or construct new homes. Housing finance also extends to receiving loans to finance the renovation or repair of residences.
Interest rates vary from individual to individual and depend on whether loan applicants are salaried or self-employed. Generally, interest rates are between 11.75% per annum to 17% per annum.
