Disclaimer: ART Housing Finance is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to ART Housing Finance for home loans. No offers/services from ART Housing Finance are being provided by Paisabazaar for home loans. For further information about ART Housing Finance for home loans, users are required to reach out directly to ART Housing Finance.
| ART Housing Finance Home Loan Highlights | |
| Interest Rate | Shall vary as per the applicant’s profile and Loan product/ Scheme chosen |
| Loan Amount | Rs. 3 lakh to Rs. 50 lakh |
| Loan Tenure | Up to 25 years |
| LTV Ratio | Up to 90% of the property value |
| Processing Fee | Applicable as per the company’s policy |
| Prepayment Charges | NIL |
Note: Interest rates as of 19 Dec 2024
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Table of Contents
ART Housing Finance Interest Rates
ART Housing Finance home loan interest rates shall vary as per the applicant’s profile and Loan product/ Scheme chosen. The HFC has stated that the home loan interest rates offered to the home loan applicants would depend on the loan product/scheme chosen and applicant’s profile.
Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.50% - 11.25% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Check Eligibility |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Check Eligibility |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
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ART Housing Finance Processing Fee and Other Charges
Processing fee
Art Housing Finance charges processing fee based on its policy.
Prepayment Charges
| Prepayment charges | For floating rate of interest and individual applicants: NIL
For fixed rate of interest and individual applicants: ● If paid from own sources: NIL ● If paid within 12 months from disbursal date through balance transfer: 3% of the principal outstanding. ● If paid after 12 months from disbursal date through balance transfer: 2% of the principal outstanding. For business entity applicants: ● If paid within 12 months from disbursal date either through own sources or balance transfer: 3% of the principal outstanding. ● If paid after 12 months from disbursal date either through own sources or balance transfer: 2% of the principal outstanding. |
Other Fees and Charges
| Overdue charges | 2% per month on outstanding dues |
| Cheque bounce charges | Rs 500 + taxes |
| Cheque replacement/swap charges | Rs 250 + taxes |
| Foreclosure statement charges | Rs 500 + taxes |
| Duplicate statement/certificate | Rs 250 + taxes |
| Demand draft/pay order charges | Rs 150 per lakh or actual bank charges, whichever is higher |
| CERSAI filling charges | For loans up to Rs 5 Lakh: Rs 50 + taxes
For loans above Rs 5 Lakh: Rs 100 + taxes |
| Legal charges | Rs 3,500+ taxes payable before disbursement (not applicable on approved projects and top-up cases)
Charges for Notice of Intimation of Mortgage, for Maharashtra: Rs. 2500 + taxes (collected before disbursement) |
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Types of ART Housing Finance Home Loan
ART Home Purchase Loan
- Purpose: For purchasing ready built/ under-construction residential property.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Home Construction Loan
- Purpose: Borrowers can avail this home construction loan for constructing residential property.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Home Extension Loan
- Purpose: It is a home extension loan that can be used for carrying out extension in existing residential house like building an additional room, floor, a larger bathroom or even enclosing an open balcony.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Home Improvement Loan
- Purpose: Borrowers can use the home improvement loan for carrying out renovation/ makeover, both internal as well as external, of an existing residential house like tiling and flooring, painting, plumbing and electrical work, waterproofing and roofing, grills and aluminum windows, waterproofing on terrace, construction of underground/overhead water tank, paving of compound wall, etc.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Refinance Loan
- Purpose: For reimbursement of expenses already spent for buying, constructing or extending home.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Balance Transfer Loan
- Purpose: It is a home loan balance transfer facility offered to existing home loan borrowers of other lenders to transfer their home loans to the NBFC.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
ART Balance Transfer + Top-up Loan
- Purpose: For transferring existing home loans from other lenders along with the facility of a top-up home loan.
- Amount: Up to Rs 50 Lakh
- Tenure: Up to 30 years
Credit Linked Subsidy Scheme Under Pradhan Mantri Awas Yojana
- Under this scheme, the government offers interest subsidies on home loans to eligible beneficiaries of the Economically Weaker Section and Low-Income Groups for purchase/ re-purchase or construction of houses. This scheme is applicable for the following categories:
Economically Weaker Section (EWS) - Low Income Group (LIG)
- Middle Income Group-I (MIG-I)
- Middle Income Group-II (MIG-II)
- Families with household income up to ₹ 18 Lakhs can avail the benefit of subsidy
- Different carpet areas allowed for different income group of customers
- Subsidy of 3% to 6.5% on the eligible loan amount on different income group of customers
Eligibility Criteria for Credit Linked Subsidy Scheme
- Women ownership of property preferred
- No other Pucca house ownership in the name of any member of the household
Eligibility Criteria for ART Housing Finance
- Indian Resident
- Minimum 23 years at the commencement of the Loan
- Upto 65 years of age at loan maturity
- Salaried and Self employed Segments
- Formal and Informal Income Segments
- The home loan eligibility also depends on applicant’s income and repaying capacity, age, employment/business vintage, assets and liabilities, cost of the proposed property etc.
Check your Home Loan Eligibility with Top Lenders Click Here
ART Housing Finance Documents Required
- Valid KYC documents of all applicants
- Latest bank statements of last 6 months
- Income proof for salaried customers:
- Last 3 month’s salary slip or latest salary certificate from the employer
- Current job appointment letter / Contract letter
- Latest Form-16 (if available)
- Income proof of self-employed customers:
- Latest 2 years ITRs with financials, CA certified or audited as applicable
- Business vintage proof for self-employed customers:
- Registration Certificate of the business• Partnership Deed and Registration Certificate issued by District Registrar in Partnerships
- Trade License Shop & Establishment Certificate
- Vat Registration Certificate
- CST Registration Certificate
- Service Tax Registration Certificate
- GST Registration Certificate
- Any other document issued by Government / Government Authority identifying the entity
- Copy of property documents before sanction
The HFC may also ask for additional home loan documents based on customer profile.
ART Housing Finance EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395