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Information About Affordable Housing Loan


At Tata Capital, we are determined to find a home for all. Through ‘Affordable’ Home Loan you can obtain a home loan with a salary as low as ₹ 25,000. Catering to those coming from lower income segments of the society, our goal is to help you find an ideal house that you and your family deserves. We also let you customise how you want to repay. We will guide you to your house and that’s our promise. 

Features of Affordable Home Loan

  • Our ‘Affordable’ Home Loan is an Affordable Housing Scheme that works in line with Government’s Pradhan Mantri Awas Yojana.
  • ‘Affordable’ Home Loan targets economically weaker sections, low income groups, SC and ST, and women who are residents of the peripheral regions of the Metros, Tier I, Tier II and Tier III cities.
  • To be eligible for our Affordable Housing Finance, you should come from a household with annual income of Rs 3 lakh to 18 lakh.
  • We offer extremely subsidised interest rates that start as low as 3%.

How does one apply for Rural Housing Finance?

By following a few simple steps, you can buy a home for your family.

  • Check your home loan eligibility online
  • Select your home loan amount and tenure
  • Submit your home loan application & documents
  • Get your money

What is the approval process for PMAY scheme?

To be eligible for PMAY scheme, you should meet some basic criteria. You or your family annual income should be anywhere between 3 lakh to 18 lakh to fall under Affordable Home Loan. You can apply for Affordable Home Loan if you are a part of an economically weaker section of the society (EWS), Scheduled Caste (SC), Scheduled Tribe (ST). You can also apply if you are a woman residing in the peripheries of Metros, Tier I cities as well as those living in Tier II and Tier III cities.

Learn more about Affordable Home Loan Eligibility and Documents for more details.

Features and Advantages

Low Interest Rates

We want to make owning a home as affordable to you as possible. That’s why our subsidies start at 3%. 

Customer Care Service

We want to empower you by helping you own a home at an affordable cost. Doorstep services are made available to our Home Loan customers. 

Full Legal Evaluation

Your peace of mind is assured as we will provide a complete legal evaluation of your new home. You really are our top priority. 

Housing for All

We want to provide low cost housing options for those who would otherwise not be able to afford a home. From lower income group segment to middle income group to those coming from economically weaker segments, we are here to help.Interest Rates Under Pradhan Mantri Awas Yojana Scheme, we offer interest rate subsidy at 3%.

How much Home Loan EMI do you need to pay?

Equated Monthly Instalment (EMI) depends on the principal loan amount, the home loan interest rate charged and the tenure for which the loan is taken.

You can choose your Affordable Housing Loan EMI amount that is comfortable to you by using the  Rural Housing Finance EMI calculator.

How can you repay affordable home loan?

You can decide how you want to repay the home loan. For a fixed amount of loan and interest, you can choose the tenure and EMI that is comfortable to you. The longer the tenure, lower will be the EMI. You can also prepay your home loan after meeting defined terms and conditions.  You can pay your affordable home loan through auto debit or ECS facility. In exceptional cases, you can also opt for post-dated cheque payment facility.

Eligibility and Documentation

To be eligible for ‘Affordable’ Home Loan, you should meet some basic criteria. Your family annual income cannot be higher than ₹ 12 lakh. You can apply if you are part of an economically weaker section of the society (EWS), Scheduled Caste (SC), Scheduled Tribe (ST). You can also apply if you are a woman residing in the peripheries of Metros, Tier I cities as well as those living in Tier II and Tier III cities.

Checking your Affordable Home Loan Eligibility

You have to meet some basic conditions to be eligible for an Affordable Housing Loan. You can use our Affordable Home Loan Eligibility Calculator to find out your eligibility. At Tata Capital, we believe in extending a home loan with minimal paperwork, affordable interest rate and flexi EMI plans.

What’s the maximum amount can you get under Rural Housing Finance?

The maximum amount will depend on your needs and eligibility and it is customisable. We do, however, offer affordable housing finance up to ₹ 12 lakhs. 


What is the ‘Affordable’ Home Loan EMI Calculator?

The Affordable Home Loan EMI calculator will give an indicative figure for the monthly instalment payment along with break-up of the loan repayment process. With help of our EMI calculator, you will be able to arrive at the ratio of the principal amount to the interest due, based on the effect of the home loan interest rate and tenure.

What does ‘Affordable’ Home Loan EMI Stand for?

EMI stands for Equated Monthly Instalments.

It is the amount that you pay to your lender on a specified date every month as repayment of the home loan taken. You can take anytime between 12 to 360 months to repay your loan to us. EMI usually encompasses of principal amount and the interest on the principal amount. 

How to calculate your EMI using an Affordable Home Loan Calculator?

Enter the following information to calculate your EMI:

  • Affordable Home Loan Amount (the loan amount you wish to get)
  • Interest Rate (Affordable home loan interest rate subsidy begins at 3 %)
  • Affordable Home Loan Tenure (Tata Capital offers you up till 360 months to repay)
  • Click the Calculate button. The system shows your EMI monthly break-up of both the interest and principal payment.
  • If the Affordable Home Loan EMI is higher or lower than you want to pay, edit the principal amount and follow the same steps from 2 to 4.

The 3 Hows of deciding the right EMI

  • How soon do you want to pay off the affordable home loan?
  • How much can you afford to pay in a month?
  • How much of an interest rate are you comfortable with?

Why Choose Us

6 reasons why we are the right fit for you and your home

We care about you

We offer Affordable Home Loans to meet your fund requirements without bothering you with too many formalities other than the statutory requirements as prescribed by law. 

We offer attractive affordable home loan interest rates

Our affordable home loan interest rates are competitive and affordable. We let you tailor everything according to your convenience and ability to repay. 

We’re flexible

We let you choose the loan amount, tenure and EMI period for which you need the home loan. 

We are not going to make you run around

We only ask for minimal documentation to process your application. We just need some mandatory information like the source of your income and the purpose for the affordable home loan.

We provide tailor made loans

Our personalised approach gives us the edge and has left countless of our customers satisfied. You are not just an application form to us. We understand that one size doesn’t fit all. 

We’ve been in the industry for a long time

This means we understand your needs and we will tailor our services to meet your needs. If you look good, we look good too.