India Shelter Home Loan

India Shelter Home Loan Highlights
Interest Rate	13.00% – 22.50% p.a.
Loan Amount	Rs 5 lakh to Rs 50 lakh
Loan Tenure	Up to 20 years
Processing Fees	Up to 3% of the sanctioned loan amount plus GST

Note: Rates as of 27th March 2023

India Shelter Home Loan Interest Rates

For home loans available at floating interest rates

Type of Customer	Interest rate (p.a.)
Salaried	13.00% – 22.50%
Self-Employed Professional	13.50% – 22.50%
Self-Employed Non Professional	13.50% – 22.50%

For home loans available at fixed interest rates

Type of Customer	Interest rate (p.a.)
Salaried	13.00% – 22.50%
Self-Employed Professional	13.50% – 22.50%
Self-Employed Non Professional	13.50% – 22.50%

Compare Home Loan Interest Rates for Top Banks & HFCs

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50% - 10.15%	8.50% - 10.05%	8.50% - 10.05%
HDFC	8.50% - 10.35%	8.50% - 10.60%	8.50% - 10.70%
LIC Housing Finance	8.45% – 10.10%	8.45% – 10.30%	8.45% – 10.50%
ICICI Bank	9.00%-9.80%	9.00%-9.95%	9.00%-10.05%
Kotak Mahindra Bank	8.85% onwards	8.85% onwards	8.85% onwards
PNB Housing Finance	8.50% - 14.50%	8.50% - 13.00%	8.50%-10.85%
Punjab National Bank	8.65%-9.60%	8.60%-9.50%	8.60%-9.50%
Bank of Baroda	8.50% - 10.65%	8.50% - 10.65%	8.50% - 10.90%
Union Bank of India	8.75% – 10.75%	8.75% – 10.95%	8.75% – 10.95%
IDFC First Bank	8.85% onwards	8.85% onwards	8.85% onwards
L&T Housing Finance	8.60% onwards	8.60% onwards	8.60% onwards
Bajaj Housing Finance	8.70% onwards	8.70% onwards	8.70% onwards
Tata Capital	8.95% onwards	8.95% onwards	8.95% onwards
Federal Bank	10.15%-10.20%	10.20%-10.25%	10.25%-10.30%

Fees and Charges for India Shelter Home Loan

Schedule of charges – Processing fees and administrative charges

Particulars	Rates
Processing fees	Up to 3% of the sanctioned loan amount plus GST
Administrative Charges	Rs 1,000 plus GST for security creation in Maharashtra

Schedule of charges – on prepayment

Particulars	Rates
Floating Interest Rate	For individual borrowers and for non-business use: Nil
	For business use or when the main borrower is not an individual:
	Within 24 months of disbursement of last instalment: 6% plus GST of loan amount being paid
	After 24 months of disbursement of last instalment of the Loan: 4.5% plus GST of loan amount being paid
Fixed Interest Rate	For loans pre-closed/prepaid through a borrower’s own sources: Nil
	Within 24 months of disbursement of last instalment: 6% plus GST of loan amount being paid
	After 24 months of disbursement of last instalment of the Loan: 4.5% plus GST of loan amount being paid

Note: No charges levied on part-payments up to 15% of loan amount outstanding at beginning of financial year

Schedule of charges – during loan term

Particulars	Rates
Loan Cancellation Charges	Rs 10,000  plus GST
Cash Handling Charges (including GST)	Rs 300
Technical Charges (from 2nd disbursement onwards)	Rs 500 plus GST for each technical visit (to be deducted from disbursement amount)
Conversion Charges (for switching from floating to fixed interest and vice-versa or Loan Re-Pricing)	Rs 5,000 or 0.5% of loan outstanding (whichever is higher) plus GST
Penal / Late Payment charges	36% p.a. charged on overdue EMI/instalment amount
Bouncing Charges (including GST)	Rs 700 per dishonour of cheque/instrument
Other Charges	Outstanding Enquiry: Rs 500 plus GST
	Account Statement: Rs 500 plus GST
	Document Retrieval Charges: Rs 500 plus GST
	Customer List of Documents: Rs 500 plus GST
	Disbursement Cheque re-print request: Rs 1,000 plus GST
	Management of Property Papers post 30 days of loan closure: Rs 500 per month plus GST
	Loan Account Closure Fee: Up to Rs 100
	Interest Rate Switch Charge: Up to 4% of loan outstanding plus GST
	Repayment Schedule Fee: Rs 500 plus GST
	CERSAI Charge: Rs 450 plus GST
Legal Charges (plus GST)	13 (2) Notice: Rs 1,000 per notice
	13 (4) Notice: Rs 1,500 per notice
	Other Notice & Replies: Rs 2,000 per notice & reply

India Shelter Home Loan Eligibility Criteria

Both salaried and self-employed individuals are eligible to apply for India Shelter Home Loan. Family members and co-owners of the property can be co-applicants for the home loan.

Documents Required for Home Loan from India Shelter

• Identity Proof – Voter ID card, PAN card, Driving License, etc.
• Address Proof – Voter ID card, PAN card, Driving License, Passport, Birth Certificate, 10^th/12^th Pass Certificate
• Property documents
• Income proof:
  • Salary slips of last 3 months
  • Last 2 years Income tax returns or business records
• LIC Policy
• Details of savings/investments including fixed deposit and recurring deposit
• Details of any other loan accounts of that the loan applicant is repaying currently
• Application form with passport size colour photographs signed by all applicants

India Shelter Home Loan EMI Calculator