Home loans offered by financial institutions come with various features, benefits, options and also in varied forms to meet the specific monetary requirements of the customers. Likewise several home loan options available to the customers that are offered by lenders, Piramal Capital & Housing Finance Ltd. (PCHFL) has recently introduced their customized home loan product named as ‘AdvantAGE’. This home loan product enables its customers to take parent-child joint home loan. Further we have discussed some more about their latest launched home loan product ‘AdvantAGE’ and lastly about some useful information about PCHFL and related aspects.
AdvantAGE is PCHFL’s latest home loan product which is designed as a parent-child joint home loan in which both (parent & child) can pay higher EMIs in the initial years, wherein their income is higher. Afterwards the retirement of parent, child pays lowered EMIs (Equated Monthly Instalments) for the balance loan amount. AdvantAGE makes its customers avail home loan at higher loan amounts with maximum loan tenure. The home loan is offered at an interest rate that starts from 8.70% onwards.
Below mentioned are applicable fees, charges and eligibility to avail AdvantAGE home loan:
|AdvantAGE Home Loan 2019|
|Interest Rate||8.70% onwards|
|Loan Amount||Up to Rs. 10 crore|
|Loan Tenure||Up to 30 years|
|Minimum Age||21 Years|
|Eligibility||For both salaried and self-employed|
|Co-applicant||One salaried individual should be co-applicant|
(Interest rates are subject to periodic change and defined at the sole discretion of the respective bank, NBFC or RBI.
PCHFL has presence in New Delhi, Mumbai, Bengaluru, Pune, Nashik and Ahmedabad. The company is planning to expand their reach in next 6 to 9 months in cities, including Hyderabad, Chennai, Navi Mumbai, Surat, Jaipur, Nagpur, Vadodara, Indore, Rajkot, etc. By 2020, Piramal Housing Finance plans to operate in more than 24 branches in India’s Tier 1 & Tier 2 markets.
|Photo Identity Proof||Address Proof||Age Proof||Employment Proof for Self-employed|
|Passport||Passport||Passport||Trade License Certificate|
|Aadhar Card||Ration Card||Ration Card||Sales Tax / VAT Registration Certificates|
|PAN Card||Aadhar Card||Driving License||Shops and Establishment Certificates|
|Voter’s ID Card|
|Driving License||Birth Certificate (issued by Government Body)||SSI Registration Certificate|
|Voter’s ID Card||School Leaving Certificate (10th)||GST Registration Certificate|
For Salaried individuals, required employment proofs are Company ID card, joining letter and appointment letter.
Piramal Home Loan Loan-to-Value (LTV) Ratio
|Loan Amount||Upto Rs. 30 lakhs||Upto Rs. 30-75 lakhs||More than Rs. 75 lakhs|
|Funding||Upto 90%||Upto 80%||Upto 75%|
Piramal Capital & Housing Finance Limited (PCHFL) is a wholly-owned subsidiary of Piramal Enterprises Limited and is registered as a Housing Finance Company (HFC) with National Housing Bank (NHB). The company provides wholesale and retail funding services across sectors. PCHF offers a range of housing finance and other financing solutions that include construction finance, flexi lease rental discounting, private equity, structured debt and senior secured debt.
PCHFL’s wholesale business in non-real estate sector includes two separate verticals named as Corporate Finance Group (CFG) and Emerging Corporate Lending (ECL). Its CFG division provides customized funding solutions to companies across sectors, including roads, auto components, renewable energy and infrastructure. Its second division which is ECL provides lending services to Small and Medium Enterprises (SMEs). Piramal Housing also provides customized strategies for retail and institutional investors, such as Mumbai Re-development Fund dedicated on slum rehabilitation. Piramal Capital & Housing Finance also works in partnerships with one of the leading global pension funds organizations that include APG, Canadian Pension Plan Investment Board (CPPIB) and Ivanhoe Cambridge.
Piramal Housing Finance helps its customers by offering its online tool which is ‘Home Loan EMI Calculator’. With the help of this online tool, customers can check their monthly loan EMI (Equated Monthly Instalment) that they plan to pay against the borrowed loan amount. However, Paisabazaar also offers the same service to its customers via its online tool of home loan EMI calculator. At paisabazaar.com you can check and compare home loan deals offered by numerous banks and NBFCs (Non-banking Financial Companies). Paisabazaar’s home loan EMI calculator helps you in checking the EMI amount by saving your time and by making it simple and convenient for you to apply for the AdvantAGE home loan online.
With the rapid increase in the number of home loan options in today’s financial market, buying your own home is not considered as a dream anymore. Probably it was considered as a dream some time back but not nowadays. With detailed and in-depth planning, research and comparison, customers are now able to buy home of their choice and budget. Even lenders are becoming more customer-friendly by providing home loans at competitive interest rates and attractive balance transfer options. If lenders’ few conditions are met or eligibility test is passed, then you are not far enough to own a home of your choice for you and your family.