Aditya Birla Housing Fianance Home Loan
Aditya Birla Housing Finance Limited (ABHFL) offers home loans up to 90% of the property’s value for a repayment tenure of up to 30 years. Aditya Birla housing loan interest rates are affordable and start from just 8.60% p.a. Apart from the interest rate, a processing fee of up to 1% of the loan amount will be levied on the sanctioned loan amount. There are zero prepayment charges for floating rate-based home loans.
Apply for Aditya Birla Housing Finance Home Loan @ 8.60% Interest Rates
Aditya Birla Housing Finance Details
The key details of Aditya Birla Housing Finance home loan are mentioned in the table below:
| Loan amount | 75% to 90% of property’s value |
| Interest rate | 8.60% |
| Processing fee | Up to 1% of the loan amount |
| Prepayment charges | Nil for floating interest rate loans & 2% to 4% for fixed interest rate loans |
| Penal interest | Up to 2% per month (24% p.a.) |
| Tenure | Up to 30 years |
| Age | Minimum 21 years |
Aditya Birla Housing Finance Home Loan Interest Rates
Aditya Birla Finance home loan interest rates are dependent on various factors, including the loan amount, tenure, borrower’s credit score and repayment capacity. Following are the standard interest rates offered by Aditya Birla Capital on home loans:
| Borrower Type | Rate of Interest |
| Salaried | 8.60% |
| Self-employed Professional (SEP) | Starting from 8.60% p.a. |
| Self-employed Non Professional (SENP) | Starting from 8.75% p.a. |
Compare Interest Rates on Home Loans for Top Banks
Below is the comparison table of Aditya Birla Home Loan Finance home loan interest rate with other top lenders to help you choose the best option:
| Bank/NBFC | Rate of Interest |
| Aditya Birla Housing Finance Limited | 8.60% |
| PNB Housing Finance | 8.25% |
| State Bank of India | 7.50% - 8.45% |
| IDBI Bank | 8.25% - 12.10% |
| IDFC First Bank | 8.85% |
| ICICI Bank | 7.70% |
| Kotak Mahindra Bank | 7.99% |
| Bajaj Finserv | 7.49% |
| HDFC Bank | 7.90% - 9.00% |
| Federal Bank | 8.75% |
| Tata Capital | 7.75% |
Aditya Birla Housing Finance Processing Fees & Charges
Following are the fees and charges associated with Aditya Birla home loan:
| Type of Charge | Description |
| Processing fee | Up to 1% of the loan amount |
| Part prepayment/ foreclosure charges | Nil for floating interest rate loans & 2% to 4% for fixed interest rate loans |
| Late payment penalty | 12% to 24% p.a. + GST |
| Non-submission of critical post disbursement documents | Rs. 3000 per month |
| Cheque bounce/ NACH failure or bounce charges | Rs. 750 per instance |
| Non-submission of revised NACH/ ECS debit mandate registration wherever applicable | Rs. 1,000 per month |
| NACH mandate exchanging charges | Rs. 750 per instance per loan account |
| Accrued interest | As applicable based on actual delayed status/ as communicated by the lender from time to time |
| CERSAI charges | Rs. 50 per property when facility amount is up to Rs. 5 Lakhs & Rs. 100 per property when facility amount is above Rs. 5 Lakhs |
| Pre-closure quote charges | Rs. 1,000 per instance |
| Requesting copies of any collateral held with ABHFL | Rs. 750 per instance |
| Requesting for duplicate statement/ repayment schedule other document | Rs. 200 per instance |
| Cheque return/ ECS failure charges | Rs. 750 per instance |
| CIBIL report retrieval fee | Rs. 50 per instance for consumer & Rs. 500 for commercial CIBIL |
| Loan rescheduling charges | 0.5% of principal outstanding + GST |
| Rate revision within same interest type | Rs. 1,000 + GST per loan account on every rate revision |
| NOC issuance charges | Rs. 500 per instance |
| Swap charges for fixed to floating & vice versa | 2% of principal outstanding plus applicable GST |
| Stamp duty, legal & other statutory charges | As per actual, where applicable |
How to Calculate Aditya Birla Housing Housing Finance Home Loan EMI?
The easiest and fastest way to calculate your Aditya Birla Housing Housing Finance Home Loan EMI is by using the online Home Loan EMI calculator tool, which is available for free on our website.
All you need to do is enter the required loan amount, interest rate, and tenure to calculate your home loan EMI. Along with EMI, the home loan calculator provides the entire amortisation schedule for complete repayment tenure of your loan.
Aditya Birla Housing Finance Home Loans Eligibility
Following are the Aditya Birla housing loan eligibility criteria:
- Eligible candidates: Salaried Indian residents, NRIs & PIOs, and self-employed with formal income.
- Minimum age of the applicant when applying for the loan: At least 21 years.
- Maximum age of applicant at loan maturity: 60 years if salaried and 70 years for self-employed.
- Loan-to-value (LTV): 90% for property value up to Rs. 30 Lakhs, 80% for property value above Rs. 30 Lakhs & up to Rs. 75 Lakhs, and 90% for property value above Rs. 75 Lakhs.
- Minimum income: Rs. 25,000 per month for salaried and Rs. 3 Lakhs per annum for self-employed.
- Minimum experience/ vintage: 3 years.
- Minimum CIBIL score: 700 & above/ new to credit (NTC).
For more details about the eligibility criteria, you may contact Aditya Birla Housing Finance customer care number i.e. 1800-270-7000.
Documents Required Aditya Birla Housing Finance Home Loans
Below is the list of Aditya Birla Housing Loan document requirement for salaried and self-employed applicants:
Documents List for Salaried Applicants
| Application | Duly completed loan application form along with latest passport size colour photographs signed by all the applicants/ co-applicants/ guarantors |
| Identity & address proof | Any one of the below-mentioned documents:
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| Signature proof |
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| Income proof | Recent 3 months’ salary slips showing all deductions and Form 16 |
| Bank statement | Latest 6 months’ bank statement where salary is credited |
| Proof of other income | Rental receipts/ documents showing receipt of income |
| Property documents | Copy of Title Documents & Approved Sanction Plan |
Documents List for Self-employed Applicants
| Application | Duly completed loan application form along with latest passport size colour photographs signed by all the applicants/ co-applicants/ guarantors |
| Identity & address proof | PAN Card/ Form 60 along with any one of the below-mentioned documents:
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| Proof of business/ activity | Any two of the below-mentioned documents:
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| Signature proof |
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| Income proof | Income Tax Returns/ Financial Documents for last 2 years & Computation of Income certified by a CA for last 2 years |
| Bank statement | Latest 6 months’ bank statement where income is credited |
| Proof of other income | Rental receipts/ documents showing receipt of income |
| Property documents | Copy of Title Documents & Approved Sanction Plan |
Aditya Birla Housing Finance FAQs
The interest rate of an Aditya Birla home loan starts from 8.60% p.a. for salaried/ self-employed professionals and 8.75% p.a. for self-employed non-professionals.
For easy and fast loan approval, it is recommended to have a minimum CIBIL score of 700 and above.
For Aditya Birla home loan, the minimum income required if Rs. 25,000 per month for salaried and Rs. 3 Lakhs per annum for self-employe applicants.
The salary required for a Rs. 40 Lakh home loan varies depending on your credit score, debt-to-income ratio, financial stability, and other factors. Generally, you will need a monthly salary of around Rs. 67,000 to Rs. 80,000 to qualify for a 40 lakh home loan.
The property for which the loan is availed of, is itself considered as the collateral for home loan.