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Home Loan
Get a Home Loan Online Up to ₹2 Crore*
Easy EMIs | Affordable Interest Rates | Quick Documentation
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- Already Applied?
- Track Application
Key Features
Loan amount
₹ 5 Lakhs - 2 Crore
Loan tenure up to
{hltenure}
Interest rates starting at
{hlintrestrate} *p.a
For detailed fees and charges Click here *T&C apply
Neeyat Stories
Piramal Finance offers home loans up to ₹2 Crore* with competitive housing loan interest rates starting at 9.5%** p.a. Our process is straightforward, requiring minimal documentation and quick approval to save valuable time. Find the right home loan to match your needs and start your journey toward owning a home with ease. Trust Piramal Finance for a smooth and customer-focused home loan experience.
Home Loan Calculators
Planning to buy your dream home? Use our Home Loan EMI and Eligibility Calculator to make it easy. Just enter a few details like your loan amount, tenure, and interest rate.
- Calculate your monthly EMIs instantly.
- Check your home loan eligibility in seconds.
Home Loan Eligibility Criteria
Before applying for a Home Loan, it is important to understand the key factors that affect your eligibility. Our simple guide below will help you assess your chances of approval by considering essential criteria like monthly income, credit score, employment status, age, and property value. This way, you can plan your home purchase confidently and smoothly.
- Salaried & Self-Employed
- Income: The monthly salary or income for salaried and self-employed is ₹12,000
- Age: 21 to 70 years for salaried and 23 to 70 years for self-employed
- Loan Tenure: Up to 30 years
- Loan Amount: ₹ 5,00,000 to ₹ 2,00,00,000
- Nationality: Indian
Let us help you take the next step toward owning your dream home! Use our Home Loan Eligibility Calculator to estimate your loan amount based on your income and financial details.
Home Loan Interest Rates & Charges
Understanding the interest rates and charges associated with a home loan is crucial when planning your finances. Below are the details of our competitive home loan interest rates, processing fees, and other applicable charges.
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Row 1
- Features & Fees
- Details
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- Interest Rates
- {hlintrestrate} onwards
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- Loan Amount
- ₹ 5,00,000 to ₹ 2,00,00,000
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- Processing Fees
- Up to 5% of loan amount + applicable taxes
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- Loan Tenure
- Up to 30 years
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- Part Pre-Payment of Home Loan
- Fixed-rate HL: 2% of the principal of loan being prepaid + Applicable taxes
- NHL for business purpose (individual): 4% of principal of loan being prepaid + Applicable taxes
- NHL by non-individual: 4% of price of loan being prepaid + Applicable taxes
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Row 7
- Home Loan Pre-Closure Charges
- Fixed-rate HL: 2% of the principal of loan being prepaid + Applicable taxes
- NHL for business purpose (individual): 4% of principal of loan being prepaid + Applicable taxes
- NHL by non-individual: 4% of principal of loan being prepaid + Applicable taxes
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- Stamp Duty
- At actuals + Applicable taxes
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Row 9
- Cash/ Overdue EMI/ PEMII collection Charges
- ₹ 500 + applicable taxes
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Row 10
- Loan Repayment Instrument Dishonor Charges
- ₹ 750
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Row 11
- Loan cancellation after disbursal/ cheque handover
- ₹ 5,000 + Interest accrued & due + Applicable taxes
Documents Required to Apply for Home Loan
For a housing loan, we require certain documents based on the profession/occupation of the applicant.
Whatsapp me this document list
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Row 1
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
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- Photo ID Proof
- Aadhaar card / Pan card
- Aadhaar card / Pan card
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Row 3
- Residence Address Proof
- Aadhar card
- Aadhar card
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Row 4
- Office Address Proof
- GST Registration Certificate / Trade License / Partnership Deed / Import Export Code / SEBI Registration Certificate / Memorandum of Association / ROC Registration Certificate
- Not applicable
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Row 5
- Income Proof
- P/L Account and Balance Sheet for the previous three years, ITRs of the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, Form 16
Features and Benefits of Home Loan by Piramal Finance
Home Loan Do’s & Don’ts
When applying for a home loan, it's important to make informed decisions. Here are some dos and don'ts to guide you:
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- Do’s
- Don’ts
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- Check Your Eligibility: Ensure you meet the basic criteria, such as income and age, before applying.
- Don’t Borrow More Than You Can Repay: Assess your finances and avoid taking on a loan amount that may strain your budget.
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- Maintain a Good Credit Score: A strong credit score boosts your chances of loan approval.
- Don’t Ignore Additional Costs: Consider processing fees, stamp duty, and registration costs along with your loan amount.
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- Compare Interest Rates: Research and compare interest rates to get the best deal.
- Don’t Make Big Purchases Before Applying: Major purchases can impact your credit score and eligibility.
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Row 5
- Prepare Your Documents: Keep essential documents like income proof, ID, and property papers ready for a smooth process.
- Don’t Skip Reading the Fine Print: Always read and understand the terms and conditions before signing.
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Row 6
- Choose the Right Loan Tenure: Opt for a loan tenure that fits your financial planning.
- Don’t Rush: Take your time to evaluate your options and choose the home loan that best suits your needs.
More Home Loan Products
/home-loan/home-construction-loans
Construction Loan
With a construction loan from Piramal finance, the perfect home for you is easily within reach...
construction
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/home-loan/home-construction-loans
Key Features
Construction Loan
{clloan}
Loan tenure up to
{clternure}
Interest rates starting at
{clintrestrate}
/home-loan/home-renovation-loans
Renovation Loan
With a Home Renovation Loan, you can keep your hard-earned savings and investments untouched and pay off...
renovation
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/home-loan/home-renovation-loans
Key Features
Loan amount
{rlamount}
Loan funded up to
{rltenure}
Interest rates starting at
{rlintrestrate}
/home-loan/home-extension-loans
Extension Loan
You may simply enlarge your own home in utmost comfort with a home extension loan from Piramal finance...
extension-svg
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/home-loan/home-extension-loans
Key Features
Loan amount
{elamount}
Loan tenure up to
{eltenure}
Interest rates starting at
{elintrestrate}
Get Home Loan for Different Budget
Know your monthly EMI for various home loan amounts.
Get Home Loan for Different Salaries
Know the home loan amount you can qualify for based on your monthly salary
Get a Quick Home Loan from the Nearest Piramal Finance Branch
Frequently asked questions
What is a Home Loan?
A home loan helps you buy your dream home by lending you the required money. You can pay back this loan in easy monthly payments over a decided tenure. We decide how much you can borrow based on your income, credit score, and property value. Home loans make it easier to own a home and offer flexible repayment options.
How to Apply for a Home Loan at Piramal Finance?
Piramal Finance designs home loans to meet the needs of Bharat. You can fill out the home loan application online or offline. Our team will provide a complete home loan service. We aim to make your experience easy and smooth.
Visit Branch –
you could visit the nearest branch of Piramal Finance to submit your application for a loan.
Apply Online –
- Go to our application form and fill out the details.
- Submit all your income and KYC documents.
- Wait till the application gets processed for verification.
- If everything meets the eligibility criteria, your loan will get approved within a few minutes.
- Subsequently, the loan amount gets disbursed and credited to your bank account.
What factors influence your eligibility for a housing loan?
Your eligibility for a housing loan depends on several key factors:
- Income: Your ability to repay the loan based on your income.
- Credit Score: A good credit score increases your chances of approval.
- Employment Status: Stable employment or business history is crucial.
- Age: Age is an important factor to determine loan tenure.
- Property Value: The value of the property you wish to purchase impacts your loan amount.
Understanding these factors helps you prepare better and ensures a smoother approval process.
How is the Equated Monthly Instalment (EMI) for a home loan determined?
The Equated Monthly Instalment (EMI) for a home loan is calculated based on three key factors:
- Loan Amount: This is the total amount you borrow. A higher loan amount generally leads to a higher EMI.
- Interest Rate: This is the cost of borrowing the money, expressed as a percentage. A lower interest rate will result in a lower EMI, while a higher rate increases the EMI.
- Loan Tenure: This is the duration over which you plan to repay the loan. A longer tenure results in smaller EMIs, but you may end up paying more interest over time. Conversely, a shorter tenure means higher EMIs but less total interest paid.
By considering these factors, lenders use the EMI formula to provide you with a monthly payment amount that fits your financial situation.
What is a floating interest rate on a home loan?
A floating interest rate on a home loan is also called a variable interest rate. This type of rate can change over time based on market conditions. This means your monthly payments may go up or down as the rate adjusts. Changes in the economy or the lender’s benchmark rate can influence this.
While floating rates often start lower than fixed rates, they come with the potential for increases in your payments. It’s important to consider your financial situation and how comfortable you are with the possibility of these changes when choosing between a floating and fixed interest rate for your home loan.
While floating rates often start lower than fixed rates, they come with the potential for increases in your payments. It’s important to consider your financial situation and how comfortable you are with the possibility of these changes when choosing between a floating and fixed interest rate for your home loan.
What is a fixed interest rate on a home loan?
A fixed interest rate on a home loan means the rate stays the same for the whole loan period. This stability helps you plan your finances better. Your monthly EMI (Equated Monthly Instalment) will not change, no matter what happens in the market. With a fixed rate, you can enjoy peace of mind knowing your payments will stay the same, making it easier to budget for your home expenses.
What types of home loans are available in India?
There are many types of housing loans available in India. They include:
- Home Purchase Loan: This is for buying a new or resale property. It covers the entire cost of the home, including registration and stamp duty.
- Home Construction Loan: If you plan to build a house on a plot of land, this loan helps cover construction costs.
- Home Improvement Loan: This loan is designed for those looking to renovate or repair their existing homes.
- Home Extension Loan: If you want to expand your current home, this loan can finance the addition of new rooms or floors.
- Land Purchase Loan: This loan is for buying land to build a home in the future.
- Joint Home Loan: This option allows two or more individuals, such as family members, to apply for a loan together, making it easier to secure a larger amount.
- Balance Transfer Loan: If you find a better interest rate elsewhere, this loan lets you transfer your existing home loan to another lender.
- Pradhan Mantri Awas Yojana (PMAY): PMAY offers affordable housing loans with subsidized interest rates for individuals with an annual household income of up to ₹3 lakh.
Is a guarantor required when applying for a home loan?
A guarantor is not always required when applying for a home loan. However, if your credit score is low, your income is insufficient, or your credit history is limited, lenders may ask a guarantor to provide additional security for the loan. Having a guarantor can improve your chances of approval and may help you secure a better loan amount or interest rate.
How long does it typically take to get a home loan sanctioned?
The duration required to secure a home loan approval can fluctuate based on numerous factors, such as the lender's procedures and the thoroughness of your application. Typically, it could range from a couple of days to several weeks.
What is a pre-approved home loan?
A pre-approved home loan is an initial loan approval based on your income, credit score, and financial stability.
Are there any tax benefits on the home loan?
According to Section 80C of the Income Tax Act, 1961, you can claim up to INR 1.5 lakhs. This amount includes the main sum, registration costs, and stamp duty fees for your home loan.
What tax benefits can I get on a home loan?
When you take a home loan, you can claim tax benefits under Section 80C of the Income Tax Act, 1961. You can claim up to INR 1.5 lakhs on the principal amount, registration costs, and stamp duty charges.
For joint home loans, each borrower (if they are also co-owners) can claim up to INR 1.5 lakhs per year.
For joint home loans, each borrower (if they are also co-owners) can claim up to INR 1.5 lakhs per year.
Can I get a home loan for the entire amount?
No. According to RBI guidelines, a lender cannot give a home loan for the full amount. You can usually get a loan for about 80% to 90% of the property's price. You will need to pay the rest as a down payment.
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