Hero Housing Finance Home Loan
Hero Housing Finance Limited (HHFL) offers a wide range of home loans to salaried or self-employed at attractive interest rates that fulfil all your housing-related needs. You can get up to Rs. 1 Crore as a loan amount for flexible tenures of up to 25 years. The interest rates are highly affordable, ranging from 11.99% p.a.
Apply for Hero Housing Finance Home Loan @ 11.99% Interest Rates
Hero Housing Finance Limited Home Loan Details
Below are the key details of Hero Housing Finance home loans:
| Loan amount | Rs. 5 Lakhs to Rs. 1 Crore |
| Loan to value (LTV) ratio | 75% to 90% of the property's market value |
| Tenure | 1 to 25 years |
| Rate of interest | 11.99% |
| Types | Purchase of new property, renovation or extension, self-construction, balance transfer |
| Processing fee | Up to 1% + taxes for cheque salaried & up to 3% + taxes for others (including non-refundable initial processing fee of up to Rs. 5,000 + taxes) |
| Prepayment charges | Up to 3% + taxes for 1 to 12 months tenure & 2 % + taxes for tenure above 12 months |
| Part prepayment | Allowed after 6 months |
| Types of properties funded | Lal Dora, Freehold, Gram Panchayat, Society Patta, Municipal Corporation, Gunthewari Property, Approved Property, etc. |
| Age | 21 to 65 years |
| Minimum CIBIL score | 650 or above; NTC |
| Minimum property area |
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Hero Housing Finance Home Loan Interest Rates
Hero Housing Finance rate of interest for home loans starts from just 11.99% p.a. and largely depends on the repayment capability of the applicant and the type of loan chosen.
HHFL has not mentioned differential home loan interest rates based on the borrower’s credit score, monthly income, loan amount, employment and employer’s profile, etc. However, the lender may consider these factors when determining its home loan interest rates, just like other lenders do.
Compare Home Loan Interest Rates of Top Banks & HFCs
Below is the comparison table of Hero Housing Finance home loan interest rates with other top lenders in India, to help you choose the best option:
| Bank/NBFC | Rate of Interest |
| Hero Housing Finance Ltd. | 11.99% |
| Tata Capital | 7.75% |
| Aditya Birla Housing Finance Limited | 8.60% |
| Bajaj Finserv | 7.45% - 18.00% |
| PNB Housing Finance Ltd. | 8.25% |
| State Bank of India | 7.50% - 8.45% |
| ICICI Bank | 7.70% |
| IDFC First Bank | 8.85% |
| Kotak Mahindra Bank | 7.99% |
| Federal Bank | 8.75% |
| IDBI Bank | 8.25% - 12.10% |
| HDFC Bank | 7.90% - 9.00% |
Hero Housing Finance Processing Fees & Charges
Following are the processing fee and other charges associated with the Hero Housing Finance home loan:
| Types of Charges | Description |
| Initial processing fee (non-refundable) | Up to Rs. 5,000 + taxes |
| Processing fee (inclusive of initial processing fee) | Up to 1% + taxes for cheque salaried & up to 3% + taxes for others |
| Foreclosure charges for individual borrowers & co-borrowers (fixed rate only) | 3% + taxes for 1 to 12 months tenure & 2 % + taxes for tenure above 12 months |
| Foreclosure charges for non-individual borrowers & co-borrowers (fixed & floating rates) | 3% + taxes for 1 to 12 months tenure & 2 % + taxes for tenure above 12 months |
| Current CERSAI charges | Rs. 500 + applicable tax |
| Disbursement cheque cancellation | Rs. 500 + applicable tax |
| Cheque/NACH dishonour charges/ non-payment of EMI via NACH | Rs. 1,000 + applicable tax |
| Cheque/ cash collection charges | Rs. 500 + taxes |
| Penal interest | 2% per month on overdue payment |
| Statement of account (for hard copy) | Rs. 500 + applicable taxes |
| List of documents | Nil for LOD within 6 months, Rs. 500 + applicable taxes thereafter |
| Document copies retrieval from HHFL custody | Rs. 2,000 + taxes (not applicable on the first copy of the current resale deed) |
| Original document retrieval charges (on borrower’s request) | Not applicable for Endorsement of Share certificates in Maharashtra & Rs. 5,000 + taxes for other locations |
| Switch to a lower rate | Up to 2% of principal outstanding + taxes |
| Repayment Instrument swap charges | Rs. 500 + applicable tax (in case of ACH/ PDC to PDC) |
| Statutory charges (Stamp Duty/ MOE/ MODT) | As per the local laws of the state where the loan originated |
| Legal & incidental expenses | As per Actual |
Hero Housing Finance EMI Calculator
The fastest way to calculate your Hero Housing Finance home loan EMI is by using the online Hero Housing Finance EMI Calculator, which is available on our website for free. All you need to do is enter a few basic loan details like the required loan amount, rate of interest and tenure to know your home loan EMI instantly.
Along with EMI, this tool also provides the entire amortisation schedule for your complete loan tenure.
Types of Hero Housing Finance Home Loan
- Purchase of New Property: Finance for salaried or self-employed profiles to purchase different kinds of properties.
- Renovation or Extension: Finance for renovation, expansion or repairing of an existing home.
- Home Loan Balance Transfer: Transfer your existing outstanding home loan amount from another bank/financial institution to HHFL for lower interest rates and top-up loans.
- Home Construction Loan: Loans for constructing a home of your own with zero complications.
Eligibility Criteria for Hero Housing Finance Home Loan
The following are the eligibility criteria for Hero Housing Finance Home Loan:
- Eligible profiles: Cheque salaried, cash salaried, self-employed professional, and self-employed non-professional (ITR based, assessed income/ informal income program, banking based).
- Minimum age: 21 years
- Maximum age: 60 years for salaried and 65 years for self-employed.
- Minimum CIBIL score: 650 or above; NTC.
- Minimum property area: 150 sqft.
- Maximum loan amount eligibility: 75% to 90% of the property's market value
Documents Required for Hero Housing Finance Home Loan
Documents required for salaried:
- Identity proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Address proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Relationship proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Age Proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO
Income documents:
Last 2 months' salary slip (6 months in case of variable)
- Latest year Form 16
- Bank statements for the last 3 months reflecting salary credits
- Appointment letter with salary breakup if the current employment is less than 1 year old
- Property-related documents (if the property has been identified): Previous chain of at least the last 13 years
- Details of current loans: Bank statement reflecting the last 6 months' EMI payment/ SOA of running loans
Documents required for self-employed:
- Identity proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Address proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Relationship proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
- Age Proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO
- Income documents: Latest 12 months’ bank statement of all active business accounts
- Property-related documents (if the property has been identified): Previous chain of at least the last 13 years
- Details of current loans: Bank statement reflecting the last 6 months' EMI payment/ SOA of running loans
NOTE: All documents must be self-attested. The above list of documents is indicative in nature and additional documents can be asked for.
Hero Housing Finance Home Loan
Hero Housing Finance offers loans for the purchase of new property, renovation or extension, self-construction, and balance transfer.
Any salaried/self-employed person aged between 21 to 65 years with a regular source of income can apply for a Hero Housing Finance loan.
You will need identity proof, address proof, relationship proof, age proof, income documents, property-related documents, and details of current loans, to apply for a Hero Housing Finance home loan.
The interest rate on Hero Housing Finance loans starts at 11.99% p.a.
The maximum tenure offered by Hero Housing Finance for home loans is up to 25 years.
PMAY subsidy-linked loan schemes are also offered by Hero Housing Finance.
You can pay your Hero Housing Finance home loan EMIs Net banking, UPI, Debit Cards, and Cash Cards.