SMFG Grihashakti Home Loan Interest Rate

At SMFG Grihashakti, home loan interest rates are reasonably priced, depending on the eligibility and other applicable criteria of the borrower. Currently, SMFG Grihashakti home loan interest rates start from 9.50% p.a. onwards for salaried individuals and 10.50% p.a. onwards for self-employed applicants. The final rate of interest offered by the lender will depend on the income level of the borrower and the property being offered as security 
 

SMFG Grihashakti Home Loan Interest Rate for Salaried

SMFG Grihashakti Home Loan Interest Rate for Seld-employed

SMFG Grihashakti offers different home loan schemes for different needs, such as Home Purchase Loan, Home Construction Loan, Home Extension Loan, Home Improvement Loan, and Home Loan Balance Transfer. The rates of interest for all housing loan schemes vary between 9.50% to 10.50% p.a., depending on the applicant’s eligibility and lender’s policy at the time of loan application. SMFG Grihashakti offers floating rates of interest on home loans linked to the Retail Prime Lending Rate (RPLR). 

Being a long-term credit product, repaying a home loan is a huge financial responsibility. Hence, it is important to compare interest rates offered by other top banks before applying for an SMFG Grihashakti home loan.

The SMFG Grihashaktihome loan rates of interest depend on various factors as mentioned below:

• Type of applicant: The interest rates for SMFG Grihashaktihome loans are cheaper for salaried applicants than that for self-employed applicants. 
• Changes in RPLR: SMFG Grihashakti home loan interest rates are floating and are linked to the Retail Prime Lending Rate (RPLR). Any change in RPLR can affect home loan rates at SMFG Grihashakti. 
• The loan amount: Usually lower home loan amounts come at lower interest rates than higher loan amounts.
• Repayment tenure: When you opt for a longer tenure, the home loan interest rate is lower. You can use Home Loan EMI Calculator to select a tenure so that your monthly EMI can fit into your budget. 
• Down payment: Maximizing your down payment at the time of availing of the loan can lower your required loan amount. In that case, the lender may consider lowering your home loan interest rate.
• CIBIL score: Borrowers with a lower CIBIL score usually end up getting a higher rate of interest and vice versa. So always check CIBIL score by pan card before applying for a home loan.

You can use the SMFG Grihashakti Home Loan EMI Calculator by entering the following details to know the EMI and interest payable amount.

• Principal loan amount
• Applicable interest rate
• Repayment tenure