shriram housing finance

Shriram Housing Finance Making Dream come True

Finance

Shriram Housing Finance Ltd. is a subsidiary of Shriram City Union Finance. It is a housing company that is registered with the National Housing Bank. The company commenced its lending operations from December 2011. The company headquarters are located in Mumbai. It has a PAN India presence and helps people in accomplishing their dream home. The loan is provided for the purpose of the purchase of the house, construction of the plot, extension or renovation of the existing house. The company offers the HL at the competitive interest rate of 15% p.a. For each of the purpose, the company has determined basic eligibility norms and the maximum disbursal limit.

Purpose of Lending

The financing company offers the loan for different housing related purpose and has provided the eligibility guidelines for each of the scheme. The customer willing to avail the credit facility from the company must check the housing loan eligibility standards before applying for the loan. The details are as given below:

1) Purchase of New House –  For the purchase of the new house the Company provides the finance for the maximum tenure of 20 years. The minimum loan amount provided by the Bank is Rs. 1 lakh. The maximum loan amount disbursed is  Rs. 75 lakhs.

Eligibility Criteria

  • Applicant has to be an Indian Resident with minimum 21 years of age at the time of application
  • Applicant can be a salaried or self-employed individual
  • Loan Eligibility is derived on basis of repayment capacity as well as property value under consideration

2) Plot plus Construction – The customer can avail up to Rs. 50 lakhs for the purpose of purchase of plot and construct a home on it for the highest repayment period of 20 years. However, the lending amount is subject to 80% of the loan amount and the repayment capacity of the individual.

Eligibility Criteria

  • Applicant has to be a Resident Indian with minimum 21 years at the time of application
  • Applicant can be a salaried or self-employed individual
  • Loan Eligibility is derived on basis of repayment capacity as well as property value under consideration

3) Construction – The company supports the plan of the construction of the house as per wish at the location of your choice by providing you with the financial aid of up to Rs.75 lakhs for the flexible repayment tenure of up to 20 years. The amount depends on the repayment capacity of the applicant and on the value of the property.

  • Applicant has to be an Indian Resident with minimum 21 years of age at the time of application
  • Applicant can be salaried or self-employed individual
  • Loan Eligibility is derived on basis of repayment capacity as well as property value under consideration

Documents Required

To avail the loan, the candidates have to submit certain documents as per their occupation status and profile. It is after the verification of the documents that the loan is sanctioned. Therefore, it is important for the applicant to keep all the documents ready at the time of applying for the credit. The occupation wise document list is shared below:

Salaried Personnel

  • Application form duly filled-up with photograph affixed on the space provided for the purpose
  • Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof
  • Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any
  • Salary slips for the latest three months along with CTC letter
  • Form No 16 along with IT returns and computation for total income for the last three years

Self-Employed Individuals

  • Application form duly filled-up with photograph affixed on the space provided for the purpose
  • Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof
  • Copies of the Income-tax Returns for the last 3 years along with financial statements, such as P&L Account and the Balance Sheet for the last three years with tax audit compliance report (wherever applicable) duly certified by the Chartered Accountants
  • Property documents

By offering home loan at a reasonable rate of interest, Shriram Housing Finance makes it possible for the potential candidates to acquire their own house or modify the existing house according to their will and extend it to fulfill the emerging needs. It is a trusted company that works according to norms of the industry and follows the ethical code of conduct.

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