Aadhar Housing Finance Limited

Aadhar Housing Finance comes up to offer a good choice for people with limited earnings who want to buy a house. As a major player in the market of housing finance in India, Aadhar Housing Finance extends a diverse range of home loan products.

In this comprehensive exploration, we will scrutinize the features, benefits, and various offerings of Aadhar Housing Finance to provide potential homebuyers with an insightful guide.

Understanding Aadhar Housing Finance

Aadhar Housing Finance Limited stands out as a company dedicated to simplifying housing finance. With a spectrum of home loan products, including those for construction, home improvement, extension, residential property purchase, and commercial property construction and acquisition, this financial institution primarily caters to the home financing needs of the low-income demographic, encompassing both salaried employees and self-employed individuals.

Aadhar Housing Finance has established an extensive network throughout India, having served an impressive count of 2.33 lakh borrowers to date.

Features and Benefits of Aadhar Housing Finance

Aadhar Housing sets itself apart through a myriad of features and benefits:

1. Attractive Interest Rates: Home loans up to Rs 1 crore are available at competitive interest rates, commencing from 11.75% per annum.
2. Extended Repayment Period: The provision of a lengthy repayment period, spanning up to 30 years, facilitates lower monthly EMIs, rendering home ownership more achievable.
3. Income Proof Flexibility: For certain housing products, Aadhar Housing Finance alleviates the burden by eliminating the requirement for income proof, providing accessibility to those who might encounter challenges in furnishing such documentation.
4. Efficient Loan Processing: Aadhar Housing Finance distinguishes itself with quick and transparent loan processing, minimizing documentation hassles and ensuring smooth disbursal of funds.
5. Tax Benefits: Borrowers stand to gain tax benefits under Section 80C of the Income Tax Act, 1961, encompassing both the principal and interest components of the housing loan.

Exploring Aadhar Housing Finance Home Loan Types

Aadhar Housing Finance presents a diverse portfolio of home loan products tailored to meet a myriad of needs:

1. Home Construction Loan: Designed for those who already own land and aspire to construct a house.
2. Loan for Plot Purchase and Construction: Geared towards individuals intending to purchase land and subsequently build a home.
3. Loan for Plot Purchase: Tailored for those looking to buy land with future plans of constructing a home.
4. Home Loan for Self-Employed: Specifically designed for self-employed individuals seeking to purchase or construct a home.
5. Loan Against Residential Commercial Property (LAP): Allows borrowers to leverage their residential or commercial property as collateral.
6. Home Loan for Salaried Employees: Tailored for salaried individuals aspiring to buy or build a home.
7. Home Improvement Loan: Ideal for those planning to renovate or refurbish their current homes.
8. Loan for Purchase of Non-Residential Property: Suited for individuals interested in acquiring or constructing non-residential properties such as offices, shops, or warehouses.
9. Home Extension Loan: Enables homeowners to add more space to their existing residences.
10. Balance Transfer and Top Up: Offers the option to transfer existing home loans from other banks or HFCs to Aadhar Housing Finance, coupled with the possibility of obtaining additional funds.
11. Aadhar Gram Unnati: An initiative focusing on providing safe and affordable housing solutions to the rural population.
12. Loan for Construction of Non-Residential Property: Tailored for those planning to construct non-residential properties like offices, shops, or warehouses.

Aadhar Housing Finance Interest Rate Details

The interest rates charged by Aadhar Housing Finance are contingent on several factors, including the loan amount, tenure, loan-to-value ratio, credit score, and income. As of November 2023, the interest rates offered by Aadhar Housing Finance range from 11.75% to 15.50% per year.

Eligibility Criteria for Aadhar Housing Finance

While eligibility criteria may vary depending on the type of loan product, some common factors include:

• Indian Citizenship: Applicants must be Indian citizens.
• Age Range: Applicants should fall within the age bracket of 21 to 65 years at both the time of application and maturity.
• Regular Source of Income: A steady source of income, whether from salary or business, is a prerequisite.
• Credit History: A good credit history and repayment capacity are crucial.
• Clear Property Title and Ownership: The property in question should have a clear title and undisputed ownership.

Documents Required for Aadhar Housing While specific documents may vary based on the loan product, some commonly required documents include:

• Identity Proof: Aadhaar card, PAN card, Voter ID, passport, or driver’s license.
• Address Proof: Aadhaar card, passport, voter ID, utility bills, driver’s license, or rent agreement.
• Income Proof: Bank statements, salary slips, income tax returns, or business financials.
• Property Documents: Sale deed, allotment letter, agreement to sell, possession letter, or title deed.
• Completed Loan Application Form: Signed by the applicant and co-applicant (if any).

Aadhar housing finance customer care number

For any queries or complaints related to home loans, Aadhar Housing Finance limited has a dedicated customer care team. They can be contacted through various channels, including phone (1800 3004 2020), email, website, or by visiting the nearest branch, from Monday to Saturday, 9:30 am to 6:30 pm.

Conclusion

Aadhar Housing Finance, a trusted name in housing finance, focuses on addressing the home financing needs of the low-income segments. With a diverse array of affordable home loan products featuring flexible repayment options and competitive interest rates, Aadhar Housing Finance ensures quick and transparent loan processing coupled with excellent customer service.

For those seeking an accessible home loan that aligns with their budget, exploring Aadhar Housing Finance’s offerings is a worthwhile endeavor. Visit their website or contact their customer care number to delve deeper into their products and services.

Suggested Read: Check IndusInd Bank Business Loan

FAQs

Q.1 What is Aadhar Housing Finance?

Aadhar Housing Finance is a company in India that helps people who don’t have a lot of money to buy a home by giving them loans.

Q.2 What types of loans can I get from Aadhar Housing Finance?

You can get loans for building a house, buying land, improving your current home, and more. They have different loans for different needs.

Q.3 How can I know if I’m eligible for a loan from Aadhar Housing Finance?

If you are from India, have a regular way of getting money, and your property papers are clear, you may be eligible. They also look at your money history.

Q.4 Can I call someone if I have questions about my loan?

Yes, you can call Aadhar Housing Finance free number at 1800 3004 2020 from Monday to Saturday between 9:30 am to 6:30 pm.