Sundaram Finance Home Loan Interest Rate 2022
|Interest Rate||8.60% onwards|
|Loan-to-Value Ratio||Up to 85% of the value of the property|
|Loan Tenure||Up to 20 years|
|Processing Charges||0.05% of the loan amount +GST|
Sundaram Home Finance Interest Rates
The current Sundaram Finance home loan interest rate starts from 8.60% per annum for salaried individuals and 8.60% per annum for self-employed individuals. The actual rate of interest applicable on a home loan depends upon the type of loan and the loan amount applied for.
Compare Sundaram Home Loan Interest Rates vs Other Lenders
|Name of Lender||Up to 30 Lakh||Above 30 Lakh & up to 75 Lakh||Above 75 Lakh|
|SBI Home Loan||7.55-8.55||7.55-8.45||7.55-8.45|
|Kotak Mahindra Bank||7.50 onwards||7.50 onwards||7.50 onwards|
|PNB Housing Finance||7.50–16.75||7.50–16.75||7.60–10.70|
|Punjab National Bank||7.45-8.85||7.40-8.55||7.40-8.50|
|Bank of Baroda||7.45-8.95||7.45-8.95||7.45-9.20|
|Union Bank of India||7.40- 9.15||7.40- 9.15||7.40- 9.35|
|IDFC First Bank||7.50 onwards||7.50 onwards||7.50 onwards|
|L&T Housing Finance||7.20-8.20||7.20-8.20||7.20-8.20|
|Bajaj Housing Finance||7.20 onwards||7.20 onwards||7.20 onwards|
|Godrej Housing Finance||7.49-10.99||7.49-10.99||7.49-10.99|
|Tata Capital||7.75 onwards||7.75 onwards||7.75 onwards|
|LIC Housing Finance||7.50-8.60||7.50-8.80||7.50-9.00|
Check interest rates on Home Loans for other Banks and HFCs Compare Now
Sundaram Finance Home Loan Fees & Charges
|Processing fees||0.05% of the loan amount + GST|
|Prepayment charges/Foreclosure Charges||NIL|
Note: Other charges such as Property & Personal Insurance, Documentation & CERSAI charges are payable after sanction of the loan.
Types of Sundaram Finance Home Loan
Sundaram Finance offers customized home loan schemes to meet the needs of customers. Mentioned below are the schemes on offer along with their details.
1. Regular Home Loan
This is a regular home loan scheme that is available to all the eligible salaried and self-employed individuals who need financial support to buy a house. This scheme can be used for:
- Purchase of a new house/apartment
- Resale of a house/apartment
- Self-construction of an independent house.
2. Plot Loan
This scheme is available to both salaried and self-employed individuals who are looking for funds to acquire the plot of their choice to construct a dream home thereon.
3. Take Over and Top-Up Loans
This scheme is available to home loan customers who wish to move their existing home loan account from another HFC to Sundaram Home Finance. Additional Top-Up Loan is also available under this scheme.
4. Affordable Housing Fund
This scheme is offered under NHB’s Affordable Housing Fund scheme. Through this, customers can avail home loans at a reduced interest rate fixed for seven years and enjoy incredible savings on the home loan.
5. Pradhan Mantri Awas Yojana (PMAY)
It is a government scheme launched to provide housing to all urban and rural poor across India. Under the scheme, the government offers interest subsidy of up to Rs. 2.67 lakh on home loans availed for buying, constructing, extending or renovating homes. Sundaram Finance extends affordable housing benefits of Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS) to all the customers eligible for this scheme.
Sundaram Finance Home Loan Eligibility Criteria
- Salaried individuals
- Self-Employed professionals
- Self-Employed non-professionals
- Loan eligibility is determined on the basis of several factors such as age, monthly income, monthly commitments, qualifications, employment, savings background, assets, liabilities and repayment history of other loans (if any)
Sundaram Finance Home Loan Documents Required
- Duly filled in and signed the application form with photographs
- Identity, address and age proof
- Salary slip of last 3 months
- Bank statement of the past 6 months
- Form-16 and Income Tax Returns (ITR) details
- Title documents of the property
Self Employed Individuals
- Duly filled in and signed application form with photographs
- Identity, address and age proof
- ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)
- Bank statement of the past 12 months
- For partnership firms: Latest partnership deed
For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
For Limited Liability Partnership: LLP Agreement
- Title document of the property along with business address proof
Sundaram Finance Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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Sundaram Finance Home Loan Customer Care Details
Customers can reach out to Sundaram Finance through the below-mentioned contact details to get their home loan-related queries addressed.
- Toll-Free: 1800 419 7722