Disclaimer: Grihum Housing Finance is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Grihum Housing Finance for home loans. No offers/services from Grihum Housing Finance are being provided by Paisabazaar for home loans. For further information about Grihum Housing Finance for home loans, users are required to reach out directly to Grihum Housing Finance.
Grihum Housing Finance Home Loan Highlights |
|
Interest Rates |
9.90%-18.00% |
Loan Amount | Starting from Rs 5 lakh |
Tenure | 1-30 years |
Processing Fee | Up to 0.50% of loan amount (minimum RS 2,000) |
Note: Rates as of 3 Dec 2024.
Table of Contents
Grihum Housing Finance Interest Rates
Minimum Interest Rate | 9.90% p.a. |
Maximum Interest Rate | 18.00% p.a. |
While the HFC has not disclosed its interest rate differentiation based on the credit score, monthly income, loan amount, occupation profile, LTV Ratio, employer’s profile, etc., lenders usually consider these factors while setting their home loan interest rates.
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%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Check Eligibility |
HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Check Eligibility |
Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Check Eligibility |
IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
Check Home Loan interest rates offered by other Banks and HFCs Compare Now
Grihum Home Loan Fees and Charges
Particulars | Charges |
Login Fee | Up to Rs 10,000 |
Processing Fee | Up to 0.50% of loan amount (minimum RS 2,000) |
Loan Sourcing/Loan Documentation/ Technical/Valuation/Legal/CERSAI/CKYC/ NeSL Charges (Non-Refundable) | Up to 2% of the loan amount |
Stamp duty, registration charges, and other related charges payable on the Loan Agreement, security creation document(s), etc. | To be borne by the applicant as per the prevalent stamp duty rates applicable in the respective State(s). |
Loan Cancellation/Re-booking charges | Rs 5,000 |
Payment instrument bounce charges | Rs 600 |
Penal Interest | 2.50% per month |
Switching Charges | 0.50% |
Account Statement | Rs 500 |
Payment Instrument Swap Charges | Rs 500 |
Duplicate copy of Interest Statement/ Statement of Accounts/ NOC/ Foreclosure Letter/ Welcome Letter/ Amortization Schedule/ Loan Agreement) apart from Statement shared annually or Loan Agreement Copy provided with Welcome letter at the time of Loan Disbursement | Rs 250 for soft copy and Rs 550 for hardcopy |
List of document charges | Rs 500 |
Retrieval of documents copy | Rs 250 for one document, Rs 500 for 2 to 4 documents, Rs 750 for more than 4 documents |
Part-payment charges and prepayment charges/foreclosure charges | 4% for loans under Fixed Interest Rate Cases or under Fixed Interest Rate period for loans under Combined Interest Rate and payment is not out of borrower’s own source.
or 4% for loans on the floating interest rate for loans extended for business purposes. or As per prevailing Tariff Sheet notified under Company Policy with compliance to Regulatory Notifications. |
Foreclosure Letter Charges | Rs 1,500 |
Collection Charges | Rs 200 per visit |
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Types of Grihum Housing Loan
Home Improvement Loan
- Purpose: Home improvement loans are offered for making improvements in the existing home like redesigning, repair, regular maintenance, etc.
- Loan Amount: Rs 5 lakh onwards
- Tenure: Up to 30 years
- Processing Fee: 1-2%
Home Extension Loan
- Purpose: Home extension loan is offered for the extension of existing property such as an extended living space, balcony, guest room, bedroom, etc.
- Loan Amount: Rs 5 lakh onwards
- Tenure: Up to 30 years
- Processing Fee: 1-2%
Home Construction Loan
- Purpose: Home construction loan is a finance facility offered for home construction on an already purchased plot
- Loan Amount: Rs 5 lakh onwards
- Tenure: Up to 30 years
- Processing Fee: 1-2%
Home Loan Balance Transfer
- Purpose: Grihum Home Loan Balance Transfer is offered for transfer of existing home loans from other banks or NBFCs to Grihum Housing at lower interest rates
- Tenure: Up to 30 years
- Processing Fee: 1-2%
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Eligibility Criteria for Grihum Housing Loan
For Salaried Applicants
- Profession: Government/Semi-government/PSUs/Private companies and MNCs/Proprietorship or partnership firms
- Minimum Age: 21 years
- Maximum Age: 65 years or retirement age, whichever is lower
- Minimum Monthly Income: Rs 20,000
- Experience: At least 1 year
- Nationality: Indian citizen
For Self-Employed Applicants
- Profession: Proprietors/Partners/Directors/CA/CS/Doctors
- Minimum Age: 21 years
- Maximum Age: 65 years or retirement age, whichever is lower
- Minimum Monthly Income: Rs 3 lakh
- Experience: At least 2 years in current business or profession
- Nationality: Indian citizens
For Firm or Company
- Eligible Borrower: Partnership or private limited companies engaged in trading, servicing, or manufacturing
- Minimum Age: 25 years
- Maximum Age: 65 years or retirement age, whichever is lower
- Minimum Monthly Income: Minimum Rs 10 lakh
- Experience: A stable business or vintage of at least 3 years
- Nationality: Partners/proprietors/directors who are Indian citizens
In addition to the above-mentioned eligibility criteria, Grihum Housing may also consider the credit score and EMI/NMI ratio of its home loan borrowers, just like other lenders do while evaluating the home loan eligibility of their applicants.
Documents Required for Grihum Housing Loan
For Salaried Applicants
Identity Documents/Address Proof
- Aadhaar Card
- PAN Card
- Driving license
- Passport
- Voter ID
- Job card issued by NREGA
Income Documents
- Salary slips of last 3 months
- Form 16
Bank Account Statement
Bank statement for last 6 months showing salary credited
Property Documents
Property documents along with technical and legal clearance of property
Additional Documents for Self-Employed Applicants
Income Documents
- ITR with income computation for the last 2 years
- Balance sheet and profit and loss statement for past 2 years
Bank Account Statement
Bank statement of operative account for last 6 months
For Firm/Company
Identity Documents
- PAN Card of firm/company
- GST Registration Certificate
- KYC of directors/partners (Aadhaar and PAN)
Address Proof
- Passport for partners/directors
- The electricity bill for owned area
- Rent bill for rented areas
Income Documents
- ITR with income computation for the past 2 years
- GST returns
- Profit and loss statement ad balance sheet for last 2 years
Bank Account Statement
Operative bank account statement for past 6 months
Property Documents
Property documents with technical and legal clearance of property
FAQs on Grihum Housing Loan
1. Can I have a co-applicant for my home loan availed from Grihum Housing Finance?
Ans. The co-owners of the property have to mandatorily become the co-applicants of a proposed home loan. Adding an earning family member as a co-applicant would also increase the chances of availing a bigger loan amount as the income and repayment capacity of those co-applicants are also factored in while evaluating the home loan application. Similarly, adding a co-applicant having higher credit score would also increase the chances of home loan approval for those having lower loan eligibility due to their poor credit score.
2. Who can be the co-applicant for home loan from Grihum Housing Finance?
Ans. The immediate family members of the applicant can apply as co-applicant(s). The co-owners of the property have to mandatorily become the co-applicant(s) of the home loan.
3. Can I foreclose my home loan availed from Grihum Housing Finance?
Ans. Yes, you can foreclose your home loan availed from Grihum Housing Finance. The HFC does not levy any foreclosure charges on home loans availed at floating rates.
4. What factors determine the eligibility of home loan applicants?
Ans. The HFC considers the age, income, work experience/business vintage, etc. for determining the home loan eligibility of applicants. Additionally, lenders also consider the credit score, minimum monthly income, EMI/NMI ratio, etc. while determining the home loan eligibility.