What are the documents needed to apply for an affordable housing loan?

The documents required for an affordable home loan are the same as that for a regular housing loan. They include: Age proof – A copy of the passport, driving license, birth certificate, PAN card, or school leaving certificate Photo identity proof – A copy of the voter ID card, Aadhaar card, passport, or driving license Income proof – Salary slips, bank statements, or Form 16 A processing fee cheque issued from the salary account Address proof – A copy of your utility bill, bank statement, property registration documents, property tax receipt, or Voter ID card

What are the tax benefits of subsidized housing?

Those who have borrowed a low-income housing loan can enjoy the same tax benefits as regular home loan borrowers. These benefits are: Up to Rs. 1.5 lakh under section 80C of the Income Tax Act Up to Rs. 2 lakh under section 24 Up to Rs. 1.5 lakh under section 80EEA for first-time home buyers In the case of a joint loan, both borrowers can enjoy these tax benefits individually.

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Affordable Housing Loan: Apply for Subsidized Housing Loan

What is an Affordable Housing Loan?

An Affordable Housing Loan is a Home Loan designed to help individuals and families with low to moderate income purchase or construct a house at a reasonable cost. It is typically offered at competitive interest rates and comes with flexible repayment options to make home ownership more accessible. These loans are intended for properties within specific value limits defined by regulatory guidelines.

With an Affordable Housing Loan, borrowers can finance the purchase, construction, or improvement of a home while comfortably managing their monthly budget. Eligibility criteria, loan amounts, and repayment tenure may vary based on income, property value, and other factors. By reducing the financial burden of buying a home, affordable housing loans help achieve the goal of owning a safe, secure residence.

Affordable Housing Loans by Tata Capital

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.

Loan amount offered

₹ 2 lakhs onward

Loan tenure

Upto 30 years

View Rates & Charges

Lower Interest Rates

The biggest advantage of Tata Capital's affordable housing loan is the reduced interest rate. The beneficiaries can get a further home loan interest subsidy under the PMAY scheme.

Housing For All

Under our affordable housing policy, we have collaborated with the Government of India to fulfill our dream of housing for all. We provide low income housing loans to those who would otherwise not be able to afford a home.

Easy Repayment

The repayment of a home loan can also be a big task for people belonging to low-income groups. Hence, we offer easy repayment terms on our affordable home loans. Beneficiaries can choose up to 30 years of loan tenure and repay at their convenience.

Doorstep Services

If someone cannot walk to the branch, we will arrange for doorstep services for them. Our executive will visit the beneficiary in person and will guide them about our low income home loan application process.

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Top Reasons to Choose an Affordable Home Loan in India

An affordable Home Loan supports structured home ownership with manageable repayment terms. Borrowers benefit from competitive interest rates, flexible tenures, and simplified documentation processes.

One of the key advantages of an Affordable Housing Loan is potential eligibility for subsidy benefits under applicable government housing initiatives. This can help reduce the effective loan burden for qualifying applicants.

Affordable Housing Loans are suitable for first-time buyers and salaried individuals seeking financial discipline through predictable EMI structures. By understanding what an affordable home loan is and comparing available options, borrowers can align their housing finance with long-term income stability and financial goals.

Eligibility Criteria for Affordable Housing Loan

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

Affordable Housing Loan for Salaried: Features & Benefits

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:

Simple eligibility criteria

All government and private employees can avail of our affordable housing loan scheme regardless of their monthly salary. They simply need to meet some basic eligibility requirements in terms of age, property ownership, etc. Additionally, we have different schemes for employees belonging to different income categories.

Convenient repayment options

Our low-income housing loans are specially crafted to make repayments easier for low-income salaried individuals. They can either choose to pay fixed EMIs consistently for their entire home loan tenure or start by paying lower EMIs at the beginning and gradually increase them as they get appraisals. They can also make bullet repayments of their home loan when they receive bonuses or other lump sum payments.

Superfast loan disbursal

Once we receive the application for a low-income mortgage loan, our team of legal and technical experts takes over to initiate a verification process. Upon successful verification, the home loan amount is disbursed to the applicant’s bank account within a few working days.

Suitable loan tenure

Our customers have complete flexibility to choose the tenure of their home loan as per their repayment capability. This facility is of great help for low-income borrowers who do not wish their home loan EMIs to be on the higher side. They can choose a long tenure of up to 30 years to keep their EMIs minimum. On the other hand, someone who wants to pay higher EMIs to save on their interest outgo can opt for a lower home loan tenure.

Buy a house anywhere

Our scheme is available for buying a low-cost house irrespective of its location. So, whether you want to buy a house in the heart of a metro city or on the outskirts of a Tier II city, we are here to help. You can apply for a low-income home loan of Rs. 2 lakh or more and convert your dream into a reality. You can also apply for an affordable home loan to construct a house on a piece of plot in regularized colonies or gram panchayats.

Excellent customer service

We take supreme pride in providing the best services to our customers. They can avail of low-income loan assistance at any time and from anywhere by dialing our customer care number, 1860 267 6060, between 9 AM and 8 PM from Monday to Saturday. They can also visit their nearest Tata Capital branch or write to us at customercare.housing@tatacapital.com.

EMI Plans Available for Affordable Housing Loans

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:

Standard EMI Plan

The borrower is required to pay fixed EMIs consistently for the entire home loan tenure.

Step-Up Flexi EMI Plan

The borrower can pay lower EMIs in the beginning and then increase them gradually.

Step-Down Flexi EMI Plan

The borrower can pay higher EMIs in the beginning and then decrease them gradually.

Bullet Flexi EMI Plan

The borrower can pay the principal Home Loan amount in parts along with their EMIs.

Step-by-Step Process: How to Apply for an Affordable Housing Loan

Applying for a Tata Capital Affordable Housing Loan is a simple and structured process designed to make home financing convenient and transparent. Follow the steps below to complete your application smoothly:

Online Application: Visit the official Tata Capital website, select the affordable housing loan option, and fill in your basic details, including name, mobile number, and loan amount.
OTP Verification: Verify your mobile number by entering the OTP sent to your registered number.
Submit Documentation: Upload the required documents, including KYC documents (PAN and Aadhaar), income proof (salary slips or ITR), and relevant property documents.
Verification and Approval: A Tata Capital representative will review your documents and conduct necessary verification, including property assessment.
Disbursal: Once approved, the loan amount is disbursed directly to your bank account.

By following these steps, you can apply for your affordable housing loan with clarity and confidence.

Home Buying Tools & Assistance

Process Guidance Tool

You can access our Process Guidance Tool to get contextual guidance for the steps that you should follow while buying a housing property.

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Buying Affordability Tool

Our Buying Affordability Tool will help you prepare your overall property budget based on your home loan eligibility and cash in hand. This tool will also suggest localities where you can find housing properties in your budget.

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Property Search Tool

Our Property Search Tool will help you search for your desired housing property in several property portals under one roof.

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Documents Checklist Tool

Our Documents Checklist Tool will help you know your maximum home loan eligibility, the documents required, and the right home loan product for you.

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TDS Filing Guidance Tool

Our TDS Filing Guidance Tool will help you calculate the maximum tax deduction against your home purchase. You will also be able to generate Form 26QB.

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Affordable Housing Loan: Payment Options

Available payment options

Deduction Against Salary (DAS)

If your employer agrees, you can choose to pay your home loan EMIs directly from your monthly salary. You just need to authorize your employer to deduct the EMI payment from your salary and deposit it with the lender.

Post Dated Cheques (PDCs)

You can provide post-dated cheques for the EMI amounts at the time of loan sanction. You can either provide all PDCs for your entire loan tenure at once or issue fresh PDCs periodically but at least three months in advance. We accept this payment option only if the auto debit or ECS facility is unavailable.

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Home Loan for government employees

With Tata Capital, you can apply for a home loan for government employees in a few easy steps and get housing finance at competitive interest rates.

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With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates.

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Home Loan for women

With Tata Capital, you can apply for a home loan for women in a few easy steps and get housing finance at competitive interest rates.

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What our customers say about us

Service provided by Manoj Patel in Surat vesu Branch was helpful and because of his support we were able to close loan.

Prakash Patil

Home Loan | 23 Aug, 2024

Excellent A1 Services. The Lady at the Customer Desk is very Cooperative and helpful so that my work completed without the time frame. The name of the Lady is Amruta Pathak. God bless her and her family. Thanks and Regards for the entire team of Tata Capital.

Nandlal Lal Arora

Home Loan | 13 Aug, 2024

Very good & prompt service, and we have spoken to Mr. Manish also, and he always helps us to provide our request. Thank you, Ms Apurva Shende & Manish Padwal

Farhang Ahmed Azar

Home Loan | 24 Jul, 2024

I'm happy with the service and the help I got earlier for foreclosure letter. Thank you so much & thanks to Alisha mam for her guidance.

Akshay Anil Pawar

Home Loan | 17 Jul, 2024

Special thanks to Mr. Avinash for his help rendered with full commitment to his job, answering the queries to me clearly, and follow up so that the work is done in given time to get customer satisfaction.

Hannah Grace

Home Loan | 02 Jul, 2024

Mr Avinash who handled my case is well experienced and has courtesy for customers' concerns. However, some of the Tata Capital products are very expensive when compared to other banks' ones!

Mohammed Shakeel Urrahman

Home Loan | 28 Jun, 2024

Start to end of my loan process was simple and guidance of your team members were to the point. My last communication was with Mr. MANOJ PATEL from surat branch he was very polite and helpful.

Anamika Vijaykumar Tiwari

Home Loan | 20 Jun, 2024

We extend our heartfelt gratitude to Mr. Pravin Sagare, Senior Officer of Customer Service, for his exceptional service. His remarkable demeanor and professionalism during telephonic interactions with customers have been truly outstanding. Over the past two years, we have utilized various services, yet none have matched the quality provided by Mr. Sagare. We are deeply impressed by the exemplary service, due to this reaons we has influenced our decision to obtain a second home loan from TATA Capital Housing Finance Limited.

Avinash Vasantbhai Bhesaniya

Home Loan | 07 Jun, 2024

I had applied for a home loan at Tata Capital & got the it approved quickly. The process was smooth and sanctioned with sufficient amount with tenure period of 20 yrs.

Sumeet Verma

Home Loan | 14 Mar, 2022

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Affordable Housing Loan FAQs

An affordable housing loan scheme is different from a regular home loan in several aspects. First, it is offered to individuals belonging to the low- and mid-income categories. Both salaried and self-employed individuals can apply for affordable home loans irrespective of their monthly income.

Secondly, the interest rates for these loans are lower as compared to regular home loans. At Tata Capital, low-income housing loan interest rates start from 10.10% per annum.

And thirdly, these loans entail lower amounts for buying low-cost houses. The minimum affordable housing loan offered by Tata Capital is Rs. 2 lakh.

The following are the eligibility requirements to apply for an affordable home loan with Tata Capital:

The applicant should not own a pucca house anywhere in India

In the case of a married couple, either or both spouses in joint ownership can apply for a single low-income housing loan

The applicant should not have availed of any housing loan scheme of the state or central government

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:

Age proof – A copy of the passport, driving license, birth certificate, PAN card, or school leaving certificate
Photo identity proof – A copy of the voter ID card, Aadhaar card, passport, or driving license
Income proof – Salary slips, bank statements, or Form 16
A processing fee cheque issued from the salary account
Address proof – A copy of your utility bill, bank statement, property registration documents, property tax receipt, or Voter ID card

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:

Up to Rs. 1.5 lakh under section 80C of the Income Tax Act
Up to Rs. 2 lakh under section 24
Up to Rs. 1.5 lakh under section 80EEA for first-time home buyers

In the case of a joint loan, both borrowers can enjoy these tax benefits individually.

An Affordable Housing Loan is a Home Loan designed for eligible income groups purchasing budget-friendly residential properties. Applicants must meet defined income, employment, and credit criteria.

Eligible borrowers may receive an interest subsidy credited to the loan account under applicable government housing programs, subject to scheme guidelines and approval.

Applicants typically submit KYC documents, income proof, bank statements, and property-related documents to process an Affordable Housing Loan application.

Loan amounts depend on borrower eligibility, property value, and policies. Limits vary based on income category and repayment capacity.

Interest rates are determined based on credit profile, income stability, market conditions, and lender-specific pricing frameworks.

Eligible borrowers may claim tax benefits for principal and interest repayments under applicable provisions of the income tax law, subject to prevailing regulations.

An Affordable Housing Loan is typically linked to income thresholds and property value limits, whereas regular Home Loans may not have such defined affordability criteria.

Disbursal timelines depend on the completeness of documentation, eligibility verification, and property approval. Processing time varies by case.

Find the right Loan for you

Affordable Housing Loan

At Tata Capital, we believe that every single person, regardless of their financial background, deserves a home to call their own.

With this vision, Tata Capital Housing Finance offers affordable home loans at competitive interest rates.

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Home Extension Loan

As the years go by and your family continues to grow, does your house feel smaller?

Tata Capital’s Home Extension Loan is a perfect solution to help you give your family that additional space they deserve.

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Home Loan for Self-Construction

Instead of buying a ready-to-move-in house, you can choose to purchase a piece of land and construct your house on it brick by brick.

A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

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Home Loan Top-up

A home loan top-up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan.

The home loan top-up facility is available only for existing home loan borrowers without the need for any additional security or guarantee.

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Quick Cash

Quick Cash loan is a unique Pre-Approved personal finance top-up linked to your existing Tata Capital Housing Finance Limited (TCHFL) loans. This loan is only for existing TCHFL Home Loan and Home Equity customers.

Apart from its unique features, it also offers other advantages such as faster processing, and a paperless journey, notwithstanding that all this could be availed in just a few clicks at your convenience any day 24*7.

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Balance Transfer

A home loan balance transfer, or simply a home loan transfer, takes place when you transfer your outstanding home loan amount to a new lender from your existing lender.

With Tata Capital Home Loan Balance Transfer, you can transfer your outstanding home loan balance to affordable interest rates. Our home loan interest rates start from just 7.50% per annum*.

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