Piramal Home Loan

Piramal Housing Finance Highlights
Interest Rate	11.00% p.a. onwards
Loan Amount	75% to 90% of property value
Loan Tenure	Up to 30 years
Processing Charges	Up to 1% of the loan amount

Note: Interest rates as of 1 February 2023

Piramal Housing Finance Rate of Interest

Piramal home loan interest rate is 11.00% p.a. onwards. While the Piramal Capital and Housing Finance Ltd. has not disclosed the interest rate break based on the credit score and occupation profile of its loan applicants, lenders usually consider these factors while setting the home loan interest rates of their applicants.

Compare Home Loan Interest Rates vs Other Lenders

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% - 9.50%	8.60% - 9.40%	8.60% - 9.40%
HDFC	8.65% - 10.35%	8.65% - 10.60%	8.65% - 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% - 9.85%	8.75% - 9.85%	8.75% - 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% - 14.50%	8.75% - 13.00%	8.85%-10.85%
Punjab National Bank	8.60% - 9.35%	8.55% - 9.25%	8.55% - 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards
L&T Housing Finance	8.65%-8.75%	8.65%-8.75%	8.65%-8.75%
Bajaj Housing Finance	8.75% onwards	8.75% onwards	8.70% onwards
Godrej Housing Finance	8.64% onwards	8.64% onwards	8.64% onwards
Tata Capital	8.95% onwards	8.95% onwards	8.95% onwards
Federal Bank	8.60%-9.95%	8.60%-10.00%	8.60%-10.05%

Also check home loan interest rates offered by various home loan lenders.

Piramal Capital and Housing Finance Loan Processing Fee & Charges

Particulars	Details
Processing Fees	Home Loan: Processing Fees up to 3% of Loan amount + applicable taxes (payable before disbursement of Loan) On cancellation or withdrawal, or rejection of loan application (before handing over of loan cheque) minimum of Rs 5,000 + applicable taxes or the initial processing fee, whichever is lower, will be held back
Part Payment/Pre-closure charges	Home Loan (for a purpose other than business) availed by Individual/s at Floating Rate of Interest: No charges. Home Loan availed by Individual/s at Fixed Rate of interest: 2% of the principal amount of Loan being prepaid+ applicable taxes. No prepayment charges shall be payable for partial or complete payments made from your own sources. The expression “own sources” for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The Borrower will be required to submit such documents that the Lender may deem feet and proper to ascertain the source of the fund. Home Loan availed by Non-individual as a borrower at a Floating or Fixed Rate of Interest: 2% of the principal amount of Loan being prepaid+ applicable taxes.
Loan repayment instrument dishonour charges	Rs 500 + applicable taxes
CERSAI charges	Rs 500 + applicable taxes
Loan Pre-closure Statement	Rs 1,000 + applicable taxes
List of documents deposited with the Lender	Rs 500 + applicable taxes
Loan Repayment Schedule	Rs 500 + applicable taxes
Change of Loan repayment mode	Rs 500 + applicable taxes
“Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor”	Rs 5,000 + applicable taxes
No Due Certificate issuance charges	1st time free; subsequently Rs. 500 + applicable taxes
Statement of Account	Free once a year; subsequently Rs.500 + applicable taxes
Photocopy of documents	Rs 1,000 + applicable taxes
Retrieval of original property documents	Rs 2,000 + applicable taxes
Additional Charges	2%  p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes

Also check home loan processing fees of popular banks and HFCs.

Types of Piramal Home Loan

Housing Loan

• A regular home loan scheme availed for the purpose of house purchase, house construction and extension/renovation of an existing house/flat
• Repayment period of up to 30 years
• Financing of up to 90% of the property construction cost

Home Construction Loan

• Home construction loan is a regular home loan scheme with quick disbursal for construction of house on an already owned plot

Home Renovation Loan

• Home renovation loan is offered for home improvement/renovation purposes

Home Extension Loan

• Home extension loan is offered for extending or adding more space in an existing house property such as adding extra room(s) or a floor

Home Loan Balance Transfer

• Home loan balance transfer is for existing home loan borrowers who want to transfer their existing home loan to PCHFL at a lower rate of interest
• Home loan top-up is also available to existing Piramal housing loan borrowers to meet the personal expenses like wedding, medical treatment, education, etc.

Piramal Money Saver Home Loan

• Waiver of 3 EMIs each after the 3rd, 6th, 9th, and 12th year of the loan tenure at no extra cost
• For the purchase of under-construction/resale/ready house, self-construction, plot purchase plus house construction or for home improvement
• Reduction in overall loan tenure by 12 months

Super Home Loan

• Up to 15% lower EMI for the first five years of your loan tenure
• The loan is sanctioned after factoring in an applicant’s current income, potential earnings, and future growth prospects

Advantage Home Loan

• Increased home loan eligibility by adding co-applicant(s)
• Home financing solution for individuals having parents with pension income or nearing their retirement age
• Can also be availed by one salaried professional and one self-employed co-applicant
• Allows higher EMI in initial years, lower EMI in later years of loan tenure

Gruh Setu Home Loan

• Loans for individuals having lower home loan eligibility
• Loans of up to Rs. 20 lakh for those receiving salary in cash; can be increased to Rs. 30 lakh if applied with a co-applicant
• Financing of up to Rs. 75 lakh for employees of sole trading proprietorships and partnership firms
• Longer loan tenure of up to 75 years of age for those having a pension
• Enhanced LTVs for cash salaried and low LTV programs

Piramal Home Loan Eligibility

Salaried

• Minimum Age- 21 years Maximum Age- Income contributor (Govt employee) – 70 yrs (if pension considered) Income contributor (Others) – 62 yrs (or restricted to retirement age)
• Working in a : -Govt. institution -Public Sector Undertaking -Private Sector Companies such as Limited Companies / Private Limited companies -MNC -Partnership firm / LLP -Proprietorship concern (Individual / HUF) -Institutions run by Trust / NGO / Society / others

Self-Employed

• Minimum Age- 23 years Maximum Age- 70 years
• Self Employed Professionals: -Qualified doctor (MBBS/MD/MS), CA, and Architect -Self Employed Non-Professionals, Business Owners, Proprietorship, Partners of Partnership Firm and   Promoter/Director of closely held private and public limited companies. However, the Director of listed Public companies will be treated as Salaried.

Besides the aforementioned home loan eligibility criteria, PCHFL may also look into the age, credit score, job profile, employer’s profile, monthly income, etc. parameters for evaluating its applicants’ home loan eligibility, just like other banks and HFCs do. Home loan applicants with no or low credit scores can avail the Step UP Credit Card, a lifetime free secured credit card by SBM Bank (India) Ltd. with Paisabazaar as co-branded partner, to build or improve their credit scores.

Documents Required to Apply for Piramal Home Loan

Salaried

• Application Form Dully filled along with a passport size photograph

Identity Proof

• Passport
• Driving License
• Aadhaar Card
• Voter’s Identity Card
• Job card issued by NREGA
• Letter issued by the National Population Register containing details of photo/name

Income Proof

• Last 3 Months Salary Slips
• 2 Years Form 16.
• 6 Month Bank Statement With Salary Credit
• Bank statements for the last 6 months and salary slips
• Documentation pertaining to the property offered as collateral

Proof of Residence

• Passport
• Driving License
• Aadhaar Card
• Voter’s Identity Card
• Utility bills like Telephone Bill /Electricity Bill etc.
• Job card issued by NREGA
• Letter issued by the National Population Register containing details of photo/name and address.

Co-applicant’s details

• Co‐applicant of joint home loan can be a spouse or any first blood relative like parents, siblings, children who have attained the age of maturity
• Friends can only be allowed as co-applicants if they are coming in the capacity of Partners/Directors/Shareholder)

Self-Employed

• Application Form Dully filled along with a passport size photograph

Identity Proof

• Passport
• Driving License
• Aadhaar Card
• Voter’s Identity Card

Income Proof

• Last 2 Years ITR With Computation.
• CA Audited Financials Where Ever Applicable
• 6 Months Primary Bank Statement

Proof of Residence

• Passport
• Driving License
• Aadhaar Card
• Voter’s Identity Card
• Utility bills like Telephone Bill /Electricity Bill etc.

Co-applicant’s details

• Co‐applicant can be a spouse or any first blood relative like parents, siblings, children who have attained the age of maturity
• Friends can only be allowed as co-applicants if they are coming in the capacity of Partners/Directors/Shareholder

*Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases

Piramal Housing Finance EMI Calculator