Truhome Finance Home Loan

Disclaimer: TruHome Finance, formerly known as Shriram 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 TruHome Finance for home loans. No offers/services from TruHome Finance are being provided by Paisabazaar for home loans. For further information about TruHome Finance for home loans, users are required to reach out directly to TruHome Finance.

Truhome Finance Home Loan Interest Rates

The lender usually considers the applicant’s age, credit score, net monthly income, repayment capacity, job profile, debts, etc. before setting the home loan interest rates.

Compare Interest Rates of Home Loans for Top Banks & HFCs

Types of Truhome Finance Home Loan

Find below various types of home loan products offered by Truhome Finance for its customers to meet all of their housing needs:

Home Loan

Purpose: Truhome Finance offers home loans for the purchase of new homes.

Interest Rate: 8.50% p.a. onwards

Loan Amount: Rs. 7.5 lakh- Rs 1 crore

Maximum loan: Up to 90% of the Property Value

Repayment tenure: From 12 months to 25 years

Processing Fees: Up to 1.5% of the Loan Amount + GST

Prepayment Charges: Nil for individual borrowers

Home Extension / Improvement

Truhome Finance offers home loans for home extension, renovation and improvement purposes, such as expanding or upgrading existing homes. The loan details of home loans offered for home extension or improvement remains the same, as for basic home loan as stated above.

The Home Extension Loan’s eligibility as required by Truhome Finance is usually based on factors, such as the applicant’s age, his/her retirement age, credit score, income, employment status, tenure, etc. The home extension loan can be availed by salaried individuals with age up to 60 year and 65 years for self-employed.

Loan for Plot Purchase and Construction

Purpose: It helps borrowers in acquiring a plot of loan on which they can build their homes.

Loan Details:

Interest Rate: 9.50% p.a. onwards

Maximum Loan: Up to 75% of the estimated plot purchase and construction cost

Loan Amount: Rs. 1 lakh – Rs. 10 crore

Repayment Tenure: Up to 25 years

Processing Fees: Up to 2% of the loan amount + GST

Pre-payment / Foreclosure Charges: Nil, in case of Floating Interest Rates

Top-up Home Loan

Purpose: To meet the urgent home related requirements for existing homes.

Loan Details:

Interest Rate: 8.50% p.a. onwards

Loan Amount: Rs. 7.5 lakh – Rs. 1 crore

Repayment Tenure: Maturity as per the parent loan

Processing Fees: Individual Borrowers (on floating rate of interest) – Nil

Fixed Rate: 6% + applicable taxes of the principal amount paid through a Balance Transfer

Eligibility Criteria for Top-up loan

• Applicant should have an existing home loan or loan against property with Truhome Finance
• No existing or previous default regarding home loan or loan against property
• Ability to repay the additional EMI incurred by the Top Up Loan

Home Loan Balance Transfer

Loan Details:

Interest Rate: 8.50% p.a. onwards

Loan Amount: Up to 90% of the property cost

Repayment Tenure: Up to 25 years

Processing Fees: Up to 2% of the loan amount + GST

Pre-payment / Foreclosure Charges: Nil, in case of floating interest rates

Truhome Finance Home Loan Fees & Charges

Truhome Finance EMI Calculator

Eligibility Criteria for Truhome Finance Home Loan

Truhome Finance home loan eligibility depends on various factors, including applicant’s age, tenure, income, employment status, retirement age, credit score, etc. The home loan eligibility criteria set by the Truhome Finance for its home loan applicants is mentioned below:

Eligible Entities: Salaried individuals, Self-employed Professionals/Non Professionals and Non-Individual entities

Age: For salaried: Up to 60 years and up to 70 years for Self-Employed Individuals at the time of loan maturity

Occupation: Salaried and Self-employed Individuals

Citizenship: Indian citizen residing in India

Documents required for Truhome Finance home loan

Below-mentioned are the home loan documents required by Truhome Finance from its home loan applicants:

For Salaried Individuals:

• KYC Documents of the applicants
• Mandatory Documents: PAN Card or Form 60
• ID Proof: Voter’s ID, Aadhaar card, Driving License, Passport, Job Card Issued by NREGA (Any one)
• Address Proof: Valid driving license, Latest electricity bill or Latest Telephone Bill, Aadhaar Card (Any one)
• Income Documents: Last 3 months’ salary slips or latest salary certificate, Last 6 months’ bank statement and Form 16

For Self-employed Individuals:

The KYC documents, mandatory document, and ID and address proof documents remain the same, as required for the salaried individuals. However, the income proof shall differ that are mentioned below for self-employed individuals:

• Last 2 years’ Income Tax Returns (ITR)
• Computation of income
• Profit and Loss Account (P&L) statement
• Last 12 months’ bank statement

Truhome Finance Customer Care

Toll-free number: 1800-102-4345

Email: contact@truhomefinance.in