AU Housing Finance

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

Rate of Interest

  • Floating rate of Interest : 12% p.a. to 17% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 20 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 - 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 AU Housing Finance

AU Housing Finance gives many benefits like, flexible tenures, attractive interest rates and hassle-free loan application process. it is providing affordable loan options to people. AU Housing finance offers home loan under 3 different categories, Home loan, Home Improvement loan, Home Renovation Loan.

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 up to 20 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

Other Charges

Sno

Description  of charges

Amount

 

 

1

Technical Fee for property outside geographic limit or for additional property or pre-technical

Rs.1100 or Rs.1500 (location specific)

2

Late Payment Charges

3% per month compounded for number of days delayed for EMI payment

3

Duplicate No-due certificate

Rs.500 plus service tax

4

Personal Visit to customer’s location for collection of dues

Rs.250 per visit + service tax

5

Statement of loan prepayment/full closure

Rs.500 + service tax

6

Foreclosure Charges for AU Financiers home loans

Foreclosure or part-prepayment of home loans on variable/floating/fixed interest rates - no penalty if the loan is being prepaid through any or own source.

If the payment is made by sourcing funds from another bank/NBFC/HFC or other financial institution, 3% service tax if the payment is done in last 12 months in case the loan is closed after an year of first disbursement.

If the payment is made by sourcing funds from another bank/NBFC/HFC or other financial institution, 5% + service tax on all principal outstanding and all part prepayment will be levied for loans closed within 12 months after first disbursement.

7

Cheque bounce/ECS bounce

Rs.500 plus service tax per instrument/transaction

8

Loan cancellation if the customer managed to get own funds or in case the deal is cancelled

For requests received within 7 days after disbursement - Rs.1000 + service tax (cancellation charges). If request is received after 7 days of disbursement, Rs.1000 + service tax and PEMI till cancellation.

9

Copy of property papers

Rs.500 + service tax

10

Stamp Duty (as upfront charges)

As stated by law of the state

11

Search report/ Non Encumbrance Certificate

As per actual

12

Duplicate provisional certificate and annual account statement

Rs.500 + service tax

Existing Loan take over or New Loan

AU Housing Finace provides good offers to their customers. You can take loan  for buying new property and also to transfer their  outstanding home loan balance with other banks over to AU Housing finance at low interest rate. The main features of this transfer scheme are:

  • Very less and affordable rates of interest
  • Customers can pay out their loan as per their convenience with no prepayment fees or charges
  • Transfer of outstanding balance is quick, simple and hassle-free.
  • It provides excellent security among other banks.
  • You can experience Hassle-free loan experience.

Features of Loan

AU Housing Finance Home Loan comes with a number of attractive features and benefits such as:

  • Affordable rates of interest– AU Housing Finance offers customers attractive and affordable rates of interest, which make it convenient for the customer to make instalment payments towards their home loans.
  • Interest Rate Flexibility- Customers have the option to choose from either fixed rate of interest or floating rate of interest as per their convenience. Customers can make an informed decision based on interest rate trends and choose accordingly.
  • Balance Transfer- Customers also have the opportunity to transfer their home loan balances from other banks to Axis Bank in a hassle free manner.
  • Flexible Repayment Options-Borrowers can repay the loan as affordable Equated Monthly Instalments (EMI). It is calculated based on the loan amount, tenure and interest rate.
  • Simple and Easy Processing- Applying for a home loan with AU Housing Finance is a quick and simple process, wherein the customer is aware of the status of his or her application at all times.
  • Substantial Tenure Periods- Customers can avail of home loans with tenures of up to 20 years, which greatly reduces the amount of EMIs they would have to make every month.

Documents Required for applying  Home Loan  with Axis Bank

  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