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Home Loan

Taking you from 'Home' to 'Home Sweet Home'

Affordable Housing Loan FAQs

Overview

Eligibility & Documentation

How to Apply

Fees & Charges

Calculators

EMI Options

FAQs

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Getting Started

What is ‘Affordable’ Home Loan?

Tata Capital Housing Finance in a bid to make housing affordable to all segments of the society offers the ‘Affordable’ Home Loan. Working in line with the government's Pradhan Mantri Awas Yojna (PMAY) initiative, through the scheme we offer subsidised home loans to low income groups. In order to help you become a home owner, we offer a home loan subsidy starting from 3.00% - 6.50%.

What are the benefits of ‘PMAY scheme’?

By opting for Rural Housing Finance, you will reap the following benefits:

Homes that have an annual income up to Rs 3 lakhs can now finance their own house.
We offer convenient and affordable home loan interest rates
Minimal paperwork
Quick and hassle-free loan disbursement process and verification
Timely assistance during the loan process.

What does the ‘Affordable’ Home Loan cover?

We want to make affordable housing available to all segments of the society including the marginalised communities. With the ‘Affordable’ Home Loan, you can:

Buy an affordable house
Build an affordable house

Will my processing fees be refunded?

We at Tata Capital incur expenses when we process your home loan application irrespective of whether you take the loan or not. Processing involves scrutiny of your application, verification of your documents, assessing your application, calculating your home loan eligibility and so on. Our processing fee is minimal but non-refundable. Moreover, for the Affordable Home Loan we charge nominal processing fee of 1 % on the loan amount.

Loan Details (Amount& Tenure)

What is the maximum time allowed to repay ‘Affordable’ Home Loan?

You can choose how much time you need to repay the loan given through ‘Affordable’ Home Loan. Some of our longer tenures go up to 30 years.

What is the maximum amount available under ‘Affordable’ Home Loan?

We provide loans for affordable housing for an amount up to ₹ 25 Lakhs.

What is the interest rate for ‘Affordable’ Home Loan?

Under Affordable Home Loan we offer interest rates starting at 10.10%

Eligibility

Am I eligible for Rural Housing Finance?

In order to be eligible for ‘Affordable’ Home Loan, you or your family’s annual income should be within ₹ 6 lakh. You can apply if you part of an Economically Weaker Section of the society (EWS), Scheduled Caste (CS), 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.

Flexible EMI Plans

What are the Flexi EMI plans available to me?

Standard EMI Plan:

Standard EMI Plan allows you to pay the principal amount along with the interest consistently for your defined tenure.

1. EMI amount remains the same for the entire loan period.

Standard EMI Plan is ideal if You have a consistent income.

Step Up Flexi EMI Plan:

Step Up Flexi EMI Plan offers great flexibility. This repayment option allows you to pay lower EMIs in the beginning and as your salary increases you pay higher EMIs.

1. Provides higher loan eligibility

2. Pay more when you can afford

3. Helps to manage income flow efficiently.

A stp up flexi EMI plan is ideal if you expect your income to increase at regular intervals.

Step Down Flexi EMI Plan:

Step Down Flexi EMI Plan offers flexibility to pay higher EMIs in the beginning and lower ones at the end.

1. Reduces interest substantially

2. Helps in finance management

3. Provides higher eligibility.

Step Down Flexi EMI Plan is ideal if you have a high disposable income.

Bullet Flexi EMI Plan:

Bullet Flexi Plan allows you to pay principal in parts along with EMIs.

1. Higher Rural Housing Finance eligibility

2. Reduces interest substantially

3. Regular EMI payment.

A Bullet Flexi EMI Plan is ideal if you receive periodic incentives at work.

Know How It Works

How to apply for a Affordable Housing Loan?

Complete A Simple Form Generally, takes about 5-10 minutes Upload Documents Keep all the mandatory documents handy Get Approval Get quick approval within days

Online

You can apply for Home Loan through our online application form

Phone

Our customer support team is happy to help you, call us on customer care number at 1860 267 6060 from 9am to 7pm. You can request a call back too.

Branch

Walk into our nearest Home Loan branch to apply for a loan.

WHY CHOOSE US

CUSTOMIZED PRODUCTS

MINIMUM DOCUMENTATION

EASY APPLICATION PROCESS

STRONG AFTER SALES SERVICE

15 + Lakhs

Happy customers

4.5 + Lakh Cr

Worth loans disbursed

200 +

Branches across India

140 +

Cities across India

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