
We provide low-income home loans for salaried individuals to help them realize their dream of owning a house in India. Below are the features and benefits of our affordable housing loans for salaried people:
At Tata Capital, we believe that owning a house is the right of every person, irrespective of their financial background or family income. That is why we have started an affordable housing policy to help people belonging to the low- or mid-income group buy their own houses in India. Under this policy, we provide affordable home loans with reduced interest rates and lower loan amounts.
Our affordable housing loan interest rates start from just 10.10% per annum.
Loan amount offered
₹ 2 lakhs onward
Loan tenure
Upto 30 years
Interest rate starting @
10.10% p.a.
To realize our dream of housing for all, we provide affordable housing loans with very easy eligibility criteria. Our affordable home loan eligibility includes:
The beneficiary should not be owning a pucca house in their name anywhere in India
In the case of a married couple, either or both spouses in joint ownership will be eligible for a single low income housing loan
The beneficiary should not have availed of central assistance under any housing scheme of State or Central Government
We provide low-income home loans for salaried individuals to help them realize their dream of owning a house in India. Below are the features and benefits of our affordable housing loans for salaried people:
To make home loan repayment easier for the beneficiaries, we provide Flexi EMI plans for our affordable housing loans. One can choose from the following EMI plans and repay their home loan at their convenience:
The following are the eligibility requirements to apply for an affordable home loan with Tata Capital:
The minimum loan amount offered under Tata Capital’s affordable housing loan scheme is Rs. 2 lakh. However, the maximum loan amount depends on factors such as the price of the property, the age of the applicant, etc. We provide financing of up to 80% of the property’s market price.
The interest rate for this loan is usually lower than the one for a regular home loan. At Tata Capital, the affordable home loan interest rate starts from just 10.10% per annum. We offer the best interest rate in the market based on your eligibility, income, credit score, and some other parameters. Moreover, there are no hidden charges on our home loans.
At Tata Capital, we allow our customers to repay their home loans as per their income and repayment capability. The tenure for our subsidized housing loan can range between 5 and 30 years. If you want your EMIs to be on the lower side, you can choose a higher home loan tenure and vice-versa.
The documents required for an affordable home loan are the same as that for a regular housing loan. They include:
No. This scheme is available only for those who do not own a pucca house anywhere in India. Additionally, they should not have availed of any housing loan scheme under the state or central government.
At Tata Capital, we provide home loans of up to 80% of the property’s value. However, the exact loan-to-value (LTV) ratio varies on a case-to-case basis.
Apart from the interest rate, we levy certain other charges on low-income housing loans. These include processing charges, foreclosure charges, EMI bounce charges, legal charges, and collection charges, among others. Click here to get the complete list of our fees and charges.
At Tata Capital, we provide our customers the flexibility to repay their housing loans at their convenience. You can choose from our four EMI plans - Standard EMI Plan, Step-Up Flexi EMI Plan, Step-Down Flexi EMI Plan, or Bullet Flexi EMI Plan. You can also choose to prepay or foreclose your low-income housing loan by paying a nominal foreclosure charge.
At Tata Capital, we ensure our customers don’t have to wait for long to fulfill their dreams. Our housing loan applications are processed as soon as we receive them. You can enjoy instant approvals and get the loan amount in your bank account within a few working days.
There is no statutory requirement of a minimum credit score to apply for a subsidized housing loan with Tata Capital. Even first-time borrowers and the ones belonging to the low-income category can avail of this scheme. However, by maintaining a good credit score, you can secure the best interest rate on your home loan.
Yes. In the case of a married couple, either or both spouses in joint ownership will be eligible to apply for a single low-income housing loan. By applying for a joint housing loan with a female co-owner, you can avail of some exclusive benefits.
Those who have borrowed a low-income housing loan can enjoy the same tax benefits as regular home loan borrowers. These benefits are:
In the case of a joint loan, both borrowers can enjoy these tax benefits individually.