Aditya Birla Finance

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 9.35% p.a. to 11% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 30 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees - upto 2% of loan amount
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Aditya Birla Finance

Aditya Birla Finance is a housing finance company. It is registered company. It is under the National Housing Bank, Conforming to the National Housing Bank Act, 1987. It offers many types of home loan to its customers as per their requirements.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum upto 30 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

Floating Rate Home Loans

Sno.

Home Loans

Salaried

Self Employed

1

Rate of Interest

9.35% to 10.50%

9.75% to 11.00%

For women owner/co-owner, ROI lower by 5 bps than the applicable rate of interest

Sno.

Non Home Loan

Floating Rate of Interest

1

Loan against Property

11.50% onwards

2

Lease Rental Discounting

11.25% onwards

 

Other Charges

Sno.

Description  of charges

Amount

1

Loan Processing /Administration Fee

Home Loans : Up-to 1% of the loan amount
Other Loans : Up-to 2% of the loan amount

 

 

2

Pre-payment Charges:
Pre-closure is allowed after 12 months from loan disbursement date for Long Term Loans
Any part pre-payments made in the last 12 months prior to closure will be counted towards the pre-closure charges

 

·         Floating rate loans given to individuals, where all applicants and co-applicants are individuals: Nil

·         Home Loans (other than floating rate Home Loans to individuals): 2% of principal outstanding

·         Loan against Property & Lease Rental Discounting: 4% of principal outstanding

3

Other Charges:
Default Penal Interest Rate / Non Conformance with
any covenants / stipulated conditions

 

24% p.a. i.e. 2% per month

4

ECS failure charges

750/- per instance

5

Accrued Interest

As applicable based on actual delayed status or as communicated by the lender from time to time

 

6

 

CERSAI charges

When facility amount is equal to 5 lacs or lesser–250+ST per property

When facility amount is greater than 5 lacs–500+ST per property You may visit the website of CERSAI for all such charges at www.cersai.org.in

7

Pre-closure quote

1,000/- per instance

8

Request for Copies of any collateral held with ABHFL

750/- per instance

9

Duplicate Statement/ Repayment Schedule / any other document held with ABHFL request

200/- per instance

10

Charge For Exchanging ECS mandate

750/- per instance

11

CIBIL report retrieval fee

50/- per instance for Consumer and  500/- for Commercial CIBIL

12

Loan Re-schedulement (at discretion of ABHFL) charges

0.50% of the loan outstanding + Service Tax

13

NOC issuance charges

500 + Service Tax

14

Swap Charges (Fixed or semi-fixed rate to floating and vice-versa at discretion of ABHFL)

2% of the loan outstanding

15

Stamp duty

Legal and other statutory charges

Insurance premium

Creation charge with ROC

As per actual, where applicable

Above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and would be subject to changes from time to time.

Existing Loan take over or New Loan

Aditya Birla Finance offers customers both types of loans i.e. for buying new property and also to transfer their outstanding home loan balance with other banks over to Aditya Birla Finance at low interest rate. The main features of this transfer scheme are:

  • It provides Attractive interest rates 
  • You can take Loan tenure up to 30 years 
  • Get Quick & transparent processing 
  • Choose between simple EMIs or structured repayments
  • Nil pre-payment charges for floating rate home loans given to individuals.
  • Attractive balance transfer option available 
  • Door step services 

Features of Loan

  • Competitive rate of interest
  • Maximum loan term of 20 years
  • Fast & easy loan application processing
  • Flexibility in repayment. Borrowers can choose either structured repayments or simple EMIs.
  • There are no prepayment charges levied on floating rate home loans
  • Balance transfer facility is available
  • End-to-end door step services are provided to customers from the nearest branch.

Documents Required for applying  Home Loan  with Aditya Birla Finance

  1. Signed application form with photograph
  2. Pan Card for all applicant and co applicants
  3. ID proof and residence proof for all applicant and co applicant
  4. ITRs with computation for latest 3 years
  5. Copies of Sanction letter/ Statement of account of all existing loans
  6. Other Documents required for Salaried person
    1. Salary Slip for last 6 months
    2. Bank Statement for last 6 Months
    3. Form 16 for last 2 years
    4. Relationship proof with co applicant
  7. Other Documents required for Self Employed – Proprietorship
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Business registration certificate
    4. Office address proof
    5. Bank Statement for last 12 months
    6. Relationship proof with co applicant
  8. Other Documents required for Self Employed – Partnership Firm
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Partnership deed
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  9. Other Documents required for Company
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. MOA/AOA/COI
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  10. Additional Documents required for Balance Transfer case
    1. Statement of account of existing loan
    2. List of Documents given to existing bank
    3. Foreclosure letter
  11. Property papers
    1. Complete chain of property papers along with sanctioned plan