Piramal Capital & Housing Finance (PCHF) is a wholly-owned subsidiary of Piramal Enterprises Limited. It is registered as a home finance company with the National Housing Board (NHB). The journey of PCHF started in 2005 with the birth of Piramal Fund Management. Initially, it was named as Indiareit, as it was one of the first real estate funding platforms in India. Piramal Finance was established in 2010 as a non-banking financial company. Along with Indiareit, Piramal Finance Limited was engaged in real estate funding.

A change in the management structure followed by a couple of rounds of additional investment saw the group expanding into the top cities in India like Mumbai, NCR, Bengaluru, Chennai, Pune, and Ahmedabad. Today, the Company is into diverse projects other than real estate financing and Capital Market Advisory services like financing Home Loans for individuals.

Additional Info: Also check Rs. 1 Crore Home Loan EMI

Piramal Capital & Housing Finance Home Loan offers excellent products to individuals. The company caters to a variety of purposes such as financing for purchase or construction of homes to loans against property and Bridge Loans. PCHF is an active lending member under the Pradhan Mantri Awas Yojana. Having NHB as its CAN, PCHF caters to the marginalised section of society, as well. At the same time, the company is into large corporate real estate projects, thereby achieving a subtle balancing of portfolios.

Additional Info: Also check Rs. 80 Lakh Home Loan EMI

PCHF has a range of Home Loan projects to suit the requirements of all sections of society.

Home Loans - New Purchase

• Home Loans for the purchase of a new house/flat
• Purchase of resale property
• Salaried and self-employed individuals/professionals are eligible
• Quick processing of Home Loans
• Loans available up to 90% of the cost of ownership
• Flexible repayment tenure extending up to 30 years
• The services of a dedicated relationship manager
• Attractive rates of interest starting from 10.50% per annum

Super Loans

• Targeting young professionals
• Get 20% higher Home Loan eligibility
• Reduce EMI by up to 15% depending on the requirement
• Get a top-up loan without additional EMI
• All other conditions are the same as that of regular Home Loans

Self-Construction

• Construct your dream home on your land
• Maximum loan tenure extendable up to 30 years
• Get a maximum of 24 months moratorium
• Other conditions same as that of regular Home Loan

Balance Transfer and Top-Up

• Transfer your Home Loans from other banks and financial institutions
• Get top up depending on your requirements and eligibility
• Facility available to customers running a Home Loan for a minimum of 18 months
• All other conditions remain the same

Pradhan Mantri Awas Yojana

• Caters to the housing needs of all sections of society
• Home Loans available with an upfront interest subsidy
• Eligibility as per Government of India norms

Advantage Home Loans

• Customers with co-applicants such as parents who are nearing retirement age
• Government employees who expect to receive a pension after retirement
• Maximum loan up to 10 Crores
• At least one co-applicant should be a salaried person

Bridge Loans

• Loans available for the purchase of a new house pending the sale of the old one
• Relaxed eligibility norms
• Maximum term ranging from 24 months in case of readymade property to 60 months for properties under construction.

Besides Home Loans to individuals, PCHF offers other loan facilities such as:

• Loan against property for business and personal purposes
• Real Estate Financing to reputed builders
• Corporate Lending

Additional Info: Also check AnyRoR Gujarat Land Record

PCHF has two interest rate structures to cater to retail loans and non-retail loans, respectively. Unlike commercial banks that adopt the MCLR/RLLR interest rate structures, PCHF follows the Retail Prime Lending Rate (RPLR) structure. PCHF's RPLR is linked to market rates. Hence, it is subject to change whenever there is market rate fluctuation.

Retail Loans - Includes all kinds of Home Loans for individuals

• The RPLR with effect from May 05, 2019, is 16.05% per annum
• The individual interest rates on Home Loans start from 9% per annum

Non-Retail Loans - includes loans to the real estate sector

• The PLR for the adjustable/floating rate is 17.85% with effect from December 28, 2018
• The fixed rate loans attract an interest rate in the range of 10% to 24%

Additional Info: Apply SBI MaxGain Home Loan @6.70%

• PCHF offers a floating rate of interest on Home Loans to individuals
• The Home Loan interest rates are linked to PCHF's RPLR
• Any change in the RPLR can bring a variation in the Home Loan interest rate, thereby affecting your EMI or loan repayment tenure.
• PCHF's Home Loan interest rates start from 9%
• The interest rates on individual Home Loan accounts depend on various factors such as:
  • The loan amount and the value of property
  • The occupation and income generation capacity of the individual borrower
  • The credit rating of the individual
  • The Home Loan product on offer

Additional Info: Best Home Loan Interest Rates @6.70%

Loans under PMAY are different from conventional Home Loans because of the upfront interest subsidy factor. The interest subsidy depends on various factors like the eligibility criteria of the borrower, the loan amount, and the rate of subsidy. There is a cap on the maximum permissible subsidy, as well.

The classification of the borrowers depends on their annual family income from all sources.

• Economically Weaker Section - Families with annual income up to 3 Lakhs
• Low Income Group - Income levels more than 3 Lakhs and up to 6 Lakhs
• Middle Income Group-I - Annual family income should not exceed 12 Lakhs
• Middle Income Group-II - The maximum annual family income should be more than 12 Lakhs and up to 18 Lakhs.

The other facets of PMAY can better be explained through this table:

• PMAY interest subsidy is an upfront subsidy
• It is to be credited to the Home Loan account immediately on receipt of the same from NHB
• The Home Loan EMI of the borrower reduces on the receipt of the upfront interest subsidy
• PCHF charges interest at the contracted rated on the entire loan

Additional Info: Also check HDFC Home Loan EMI Calculator

PCHF has different types of calculators available on its website. They include the loan Eligibility Calculator and the loan EMI Calculator. Customers can determine their Home Loan EMI using the Home Loan EMI Calculator.

• Access the website of PCHF
• Select Home Loan EMI Calculator
• Enter the required data like Home Loan amount, rate of interest, and the repayment period
• Get your EMI in an instant

Such an EMI Calculator is also available on our website at MyMoneyMantra.com. The procedure for using the calculator is the same. However, our calculator provides you with additional information such as the break-up of principal and interest repayment of the Home Loan for the entire tenure.

Besides offering the facility to apply for Home Loans online, PCHF offers these additional facilities online, as well.

• Pay your Home Loan instalments online from the website
• Get your statement of Home Loan account online
• Calculate your loan eligibility by providing details of your income and obligations
• The Tax Calculator enables you to calculate your tax liability and provides details of tax saved because of your Home Loan repayments.
• The Stamp Duty Calculator can help you arrive at the right amount of stamp duty payable on your property.