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Can Fin Home Loan Details

Can Fin Home Loan Snapshot-

Loan Amount70% - 90% of Property Value
Rate of interest8.25% p.a onwards
TenureUp to 30 Years
Lowest EMI possibleRs. 751 Per Lakh
Processing fee0.50% to 0.75% of loan amount + GST
Prepayment/ Foreclosure ChargesNil for floating home loan

Can Fin Home Loan: Features & Benefits

The features and benefits of Can Fin Home Loans can be summarised as:

  • Can Fin Home loan for salaried, self-employed, professionals, pensioners & NRIs
  • Attractive Can Fin Home Loan interest rates starting from 8.25% per annum
  • Customised CanFin home loan schemes for ready to under construction properties.
  • Choice of floating or combo home loans (fixed + floating)
  • Can Fin Home Finance processing fees is nominal at 0.50% to 0.75% of the loan amount; Minimum of Rs 5000 + GST & Maximum of Rs 25000 + GST
  • Loan amount: Max Can Fin Home Loan is approved for up to 90% of the property value

Can Fin Home Loan Interest Rates 2022

Before applying for a CanFin Home loan, you must check Can Fin Home Loan Interest Rate Card. Here are details:

Can Fin Home Loan Interest Rate for Salaried Individuals & Professionals: 

Type of Home LoanInterest Rate
Individual Housing Loan8.25% to 9.75%
Affordable Housing Loan8.25% to 9.75%
Credit Linked Subsidy Scheme8.25% to 9.75%
Composite Housing Loan- sites developed by Government Agencies8.35% to 9.85%
Composite Housing Loan- approved private layouts8.50% to 10.00%
IHL- Cash Salary9.25% to 10.25%
Special Urban Housing Refinance Scheme (Direct)8.50%
Special Urban Housing Refinance Scheme (Indirect)9.50%

Can Fin Home Loan Interest Rates for Self-Employed Non Professionals

Type of Home LoanInterest Rate
Individual Housing Loan8.75% to 10.25%
Affordable Housing Loan8.75% to 10.25%
Credit Linked Subsidy Scheme8.75% to 10.25%
Composite Housing Loan- sites developed by Government Agencies8.85% to 10.35%
Composite Housing Loan- approved private layouts9.00% to 10.50%
Special Urban Housing Refinance Scheme (Direct)8.50%
Special Urban Housing Refinance Scheme (Indirect)9.50%

The above Can Fin rates of interest are offered on floating basis. In combo home loans, the rates are fixed for first three months and shift to floating rates thereon. Also, the rate is fixed for 7 years after the request for refinance. 

Also Read - 9 Proven Ways to Save Interest on Home Loans

Can Fin Home Loan Eligibility

Following factors determine your Can Fin Home Loan Eligibility:

  • All applicants must support a stable income source.
  • Salaried, professionals, self-employed, pensioners & NRIs can apply.
  • The applicants should hold legal proof for age, qualification & ownership of property concerned.
  • The lender will also assess existing assets & liabilities of main applicant as well as co-applicants.
  • Past credit history holds prominence too.
  • Number of dependents will also be considered.
  • The Can Fin Home loan amount is calculated as a percentage of market value of property.

Also Read - How does Your Salary Impact the Home Loan Eligibility?

Can Fin Home Loan Documents

Here is the list of documents required for Can Fin Home Loan:

KYC - Proof of Identity (copy of any one)Passport 
Voter ID
PAN Card 
Driving Licence 
UID (Aadhaar) 
NREGA Job Card
Any document authorised by the central government
KYC - Proof of Address (copy of any one)

Passport 
Voter ID 
Driving Licence 
UID (Aadhaar) 

NREGA Job Card 
Any document authorised by the central government

Income Proof- Salaried Applicants

Pay slips for last 6 months

Latest bank statement- last 6 months
Form 16  

Income tax returns

Proof of additional income (like Rent, Pension etc.) and details of existing loans, if any

Documents for Self Employed - Non Professionals / Professionals

 

Proof of business:
Business License
GST registration
Partnership Deed
Memorandum of Association 
Articles of Association

Proof of Income:
IT returns + computation sheet
Trading and P&L account
Balance sheet
Capital account with annexures for last 2 FYs Audited Balance sheet 
Form 3CB/3CD, if applicable
Updated statements (CA/OD/SB account) for the last one year

Details of existing loans, if any

Documents required for NRI/ PIO Borrowers:

 

Copy of offer letter/ Employment Contract (In English, Attested by Employer/ Indian Embassy) 

Visa Stamp on the passport 

Latest six months’ pay slips
overseas bank statement reflecting salary credits 

Last 6 months’ NRE/ NRO statement 

Bio-data/ profile covering- Qualification, age, job experience, nature of profession etc.

Credit report 

Power of Attorney (POA) in favour of Local Representative in India

Proof of additional income and details of existing loans, if any

Property documents

Original title deeds tracing the title ownership for at least last 13 years

Encumbrance certificate for minimum period of last 13 years

Agreement of sale/ construction, if any

Approved plan/ license

Proof of Receipts investing margin money through normal banking channels from NRE/NRO accounts

Latest tax payment receipt Khata/ Chitta/ Patta/ Adangal/ 7x12 Extra/ Khasra-Khatoni etc (in the name of property owner)

Also Read - Home Loan Tax Benefit

Can Fin Home Loan Processing Fee and Charges

Processing Charges

For salaried and professionals: 

0.5% to 0.75% of loan amount
Min: Rs 5000 +GST
Max: Rs 25000 +GST

For Self Employed Non Professionals:

0.75% to 1% of the loan amount
Min: 5000 +GST
Max: Rs 7500 +GST

Revalidation Fee (after expiry of 30 days of sanction)Rs 500
Pre-closure chargeNIL
Prepayment charges (during fixed tenure)

NIL for up to 10% of the opening principal balance in a financial year.

Amount prepaid (or full prepayment) in excess of 10% capping will attract  2% of prepayment charge plus GST

Property valuation1/8 % of assessed property value, subject to maximum of Rs 2500 +GST to the panel valuers
Project appraisal reportPay by cheque or DD to valuer directly-
1-3 crore- Rs 25000 +GST
3- 5 crore- Rs 40000+ GST
Above 5 crore-  Rs 50000 +GST
Document chargesAs per actuals, Min 100
Cheque/PDC/ ECS/ NACH Return ChargesRs 750 +GST
Retrieval of documentsCourier charges + 300 per instance +GST
CERSAI ChargesAs actuals

Also Read - 5 Home Loan Providers in India That Charge Zero Processing Fees

Can Fin Home Loan Offers

Can Fin Housing Loans to Individuals (IHL) 

  • Can Fin Home loan for purchase of ready to move in or under construction house or flat.
  • The loan can also be applied for construction, renovation or extension of house/ flat.
  • You can also avail of Can Fin home finance for transferring balance of existing home loan.
  • Salaried, professionals, self-employed non-professionals, NRIs or pensioners can apply.
  • The Can Fin loan amount varies from 75% to 85% of property value.
  • Margin is calculated as per following grids:
    • 15% for Can Fin home loan up to 20 lakh
    • 20% for 20 to 75 Lakh
    • 25% for Can Fin loan above 75 Lakh
  • You will get max tenure of 30 years.
  • Can Fin rates are attractive
  • Customers with good payment record will be eligible for top up & personal loan.

Can Fin Individual Housing Loan- Super (IHL Super)

  • Combo rate home loan.
  • Home loan interest rate is fixed for initial 3 years.
  • After 3 years, ROI will switch to prevailing floating rate for residual amount.
  • Conversion charges will apply at 0.5% of loan outstanding (including undisbursed amount, if applicable) + GST.
  • All other eligibility, features & benefits same as IHLs.

Can Fin Commercial Housing Loan (CHL)

  • Can Fin Home Loan for purchase, construction, renovation, transfer etc. of 3rd unit onwards
  • Salaried, professionals, non-professionals, NRIs & pensioners can apply.
  • Other features & benefits are same as regular individual home loans.

Can Fin Affordable Housing Loa- Urban (AHL- U)

  • Purchase, repair or construction of ready to move home or under construction residential property.
  • Annual household income up to Rs 6 Lakh.
  • Loan for property falling under statuary town as per PMAY guidelines.
  • Can Fin Rate of interest will be fixed for initial 7 years.
  • 2% + GST for pre-closure by way of take-over by other lender; NIL if pre-closed with own funds
  • Repayment tenure- 30 years, subject to repayment age of 70 years.

Can Fin Composite Housing Loan

  • Loan for purchase of site & construction of house.
  • All other benefits & eligibility are same as regular home loan.

Can Fin Housing Top Up

  • Top Up facility for existing home loan customers intending to incur repair/ renovation of the mortgaged property
  • Eligible after completion of 2 years past final disbursement
  • Top up amount vary from 1 o 15 Lakh
  • Max tenure of 15 years

Also Read - Top Home Loan Offers for Millennials in India

How to Calculate Can Fin Home Loan EMI? 

You can instantly calculate Can Fin Home Loan monthly instalment using Can Fin EMI Calculators helps you make an informed decision. 

Can Fin Home Loan Calculation

To help you compare home loan EMIs for Canfin Home Loan, sharing below EMI Calculation for Rs 10 Lakh to Rs 70 Lakh amount for 10, 20 & 30 years at lowest rate of 8.25% p.a.

Loan Amount10 years20 years30 years
Rs. 20,00,000Rs. 24,531Rs. 17,041Rs. 15,025
Rs. 30,00,000Rs. 36,796Rs. 25,562Rs. 22,538
Rs. 40,00,000Rs. 49,061Rs. 34,083Rs. 30,051
Rs. 50,00,000Rs. 61,326Rs. 42,603Rs. 37,563
Rs. 60,00,000Rs. 73,592Rs. 51,124Rs. 45,076
Rs. 70,00,000Rs. 85,857Rs. 59,645Rs. 52,589

Also Read - 5 Tips to Manage Your Home Loan EMI

Can Fin Home Loan Customer Care

You can contact customer care through a call, email or writing a post.

Toll free Customer care number: 1800-203-4488

(Call between 10 am to 6 pm)

Write your concerns at: 

Can Fin Home Ltd
No. 29/1, Sir. M N Krishna Rao Road
Lalbagh West, Basavangudi
Bangalore- 560004

Tele: 080 26567655

Fax: 080 26565746

You can write email at: development@cashfinhomes.om

For grievances and complaints, write to Nodal Officer:

Shri GK Nagaraja Rao

Nodal Officer

Registered Office

No. 29/1, Sir. M N Krishna Rao Road
Lalbagh West, Basavangudi

Bangalore- 560004

Tele- 08026570155

Email grievances at: Grievance.redressal@cashfinhomes.com

Also Check - SBI Home Loan Customer Care

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Best Value Home Loans

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Can Fin Home Loan FAQs

✅ How to apply for the Can Fin Home Loan?

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You can apply for Can Fin Home Loan online or offline as per your convenience. The home loan application form can be downloaded from bank website and submitted along with required documents to the nearest branch. More convenient option is applying online for Can Fin Home Loan and uploading the required documents. In digital application, the loan will be approved and sanctioned online.

✅ Who can be my Can Fin Home Loan Co-Applicant?

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The co-applicant should be a close relative. The lender will assess credit history, income documents and financial health of the co-borrower.

✅ What is the Maximum tenure limit for Can Fin Home Loan?

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The tenure for Can Fin Home Loan will vary from 5 years to 30 years. The maximum age for repayment is 70 years.

✅ What is the Maximum Loan Amount that can be availed from Can Fin Home Loan?

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The maximum loan amount will depend on the value of the property. Can Fin Home Loan approves home loans up to 90% of the project cost. 

✅ Are there any tax benefits on the loan?

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The home loan tax benefits are applicable as per Income Tax Act 1961. Currently following benefits are applicable.

A) Under section 80C, the principal repayment up to Rs 1.5 Lakh limit, can be availed as rebate for your home loan. The tax benefit will be as per your income tax slab.

B) Under section 24B, interest repayment up to Rs 2 Lakh is exempt for tax rebate.

✅ How to get Canfin Home Loan Statement & IT Certificate?

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You can get Provisional IT & year-end IT Certificate by sharing loan details on the link: https://canfinonline.in/Login.aspx. For other loan details, contact the home branch.