Grihum Housing Finance Home Loan

Disclaimer: Grihum 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 Grihum Housing Finance for home loans. No offers/services from Grihum Housing Finance are being provided by Paisabazaar for home loans. For further information about Grihum Housing Finance for home loans, users are required to reach out directly to Grihum Housing Finance.

Grihum Housing Finance Home Loan Highlights
Interest Rates	9.90%-18.00%
Loan Amount	Starting from Rs 5 lakh
Tenure	1-30 years
Processing Fee	Up to 0.50% of loan amount (minimum RS 2,000)

Note: Rates as of 22nd November 2024

Grihum Housing Finance Interest Rates 

Minimum Interest Rate	9.90% p.a.
Maximum Interest Rate	18.00% p.a.

While the HFC has not disclosed its interest rate differentiation based on the credit score, monthly income, loan amount, occupation profile, LTV Ratio, employer’s profile, etc., lenders usually consider these factors while setting their home loan interest rates.

Compare Home Loan Interest Rates 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.	Apply Now
HDFC Bank Limited	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
LIC Housing Finance	8.50% - 10.35% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Apply Now
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

Grihum Home Loan Fees and Charges

Particulars	Charges
Login Fee	Up to Rs 10,000
Processing Fee	Up to 0.50% of loan amount (minimum RS 2,000)
Loan Sourcing/Loan Documentation/ Technical/Valuation/Legal/CERSAI/CKYC/ NeSL Charges (Non-Refundable)	Up to 2% of the loan amount
Stamp duty, registration charges, and other related charges payable on the Loan Agreement, security creation document(s), etc.	To be borne by the applicant as per the prevalent stamp duty rates applicable in the respective State(s).
Loan Cancellation/Re-booking charges	Rs 5,000
Payment instrument bounce charges	Rs 600
Penal Interest	2.50% per month
Switching Charges	0.50%
Account Statement	Rs 500
Payment Instrument Swap Charges	Rs 500
Duplicate copy of Interest Statement/ Statement of Accounts/ NOC/ Foreclosure Letter/ Welcome Letter/ Amortization Schedule/ Loan Agreement) apart from Statement shared annually or Loan Agreement Copy provided with Welcome letter at the time of Loan Disbursement	Rs 250 for soft copy and Rs 550 for hardcopy
List of document charges	Rs 500
Retrieval of documents copy	Rs 250 for one document, Rs 500 for 2 to 4 documents, Rs 750 for more than 4 documents
Part-payment charges and prepayment charges/foreclosure charges	4% for loans under Fixed Interest Rate Cases or under Fixed Interest Rate period for loans under Combined Interest Rate and payment is not out of borrower’s own source. or 4% for loans on the floating interest rate for loans extended for business purposes. or As per prevailing Tariff Sheet notified under Company Policy with compliance to Regulatory Notifications.
Foreclosure Letter Charges	Rs 1,500
Collection Charges	Rs 200 per visit

Types of Grihum Housing Loan

Home Improvement Loan

• Purpose: Home improvement loans are offered for making improvements in the existing home like redesigning, repair, regular maintenance, etc.
• Loan Amount: Rs 5 lakh onwards
• Tenure: Up to 30 years
• Processing Fee: 1-2%

Home Extension Loan

• Purpose: Home extension loan is offered for the extension of existing property such as an extended living space, balcony, guest room, bedroom, etc.
• Loan Amount: Rs 5 lakh onwards
• Tenure: Up to 30 years

• Processing Fee: 1-2%

Home Construction Loan 

• Purpose: Home construction loan is a finance facility offered for home construction on an already purchased plot
• Loan Amount: Rs 5 lakh onwards
• Tenure: Up to 30 years

• Processing Fee: 1-2%

Home Loan Balance Transfer

• Purpose: Grihum Home Loan Balance Transfer is offered for transfer of existing home loans from other banks or NBFCs to Grihum Housing at lower interest rates
• Tenure: Up to 30 years
• Processing Fee: 1-2%

Eligibility Criteria for Grihum Housing Loan

For Salaried Applicants

• Profession: Government/Semi-government/PSUs/Private companies and MNCs/Proprietorship or partnership firms
• Minimum Age: 21 years
• Maximum Age: 65 years or retirement age, whichever is lower
• Minimum Monthly Income: Rs 20,000
• Experience: At least 1 year
• Nationality: Indian citizen

For Self-Employed Applicants

• Profession: Proprietors/Partners/Directors/CA/CS/Doctors
• Minimum Age: 21 years
• Maximum Age: 65 years or retirement age, whichever is lower
• Minimum Monthly Income: Rs 3 lakh
• Experience: At least 2 years in current business or profession
• Nationality: Indian citizens

For Firm or Company

• Eligible Borrower: Partnership or private limited companies engaged in trading, servicing, or manufacturing
• Minimum Age: 25 years
• Maximum Age: 65 years or retirement age, whichever is lower
• Minimum Monthly Income: Minimum Rs 10 lakh
• Experience: A stable business or vintage of at least 3 years
• Nationality: Partners/proprietors/directors who are Indian citizens

In addition to the above-mentioned eligibility criteria, Grihum Housing may also consider the credit score and EMI/NMI ratio of its home loan borrowers, just like other lenders do while evaluating the home loan eligibility of their applicants.

Documents Required for Grihum Housing Loan

For Salaried Applicants

Identity Documents/Address Proof

• Aadhaar Card
• PAN Card
• Driving license
• Passport
• Voter ID
• Job card issued by NREGA

Income Documents

• Salary slips of last 3 months
• Form 16

Bank Account Statement

Bank statement for last 6 months showing salary credited

Property Documents

Property documents along with technical and legal clearance of property

Additional Documents for Self-Employed Applicants

Income Documents

• ITR with income computation for the last 2 years
• Balance sheet and profit and loss statement for past 2 years

Bank Account Statement

Bank statement of operative account for last 6 months

For Firm/Company

Identity Documents

• PAN Card of firm/company
• GST Registration Certificate
• KYC of directors/partners (Aadhaar and PAN)

Address Proof

• Passport for partners/directors
• The electricity bill for owned area
• Rent bill for rented areas

Income Documents

• ITR with income computation for the past 2 years
• GST returns
• Profit and loss statement ad balance sheet for last 2 years

Bank Account Statement

Operative bank account statement for past 6 months

Property Documents

Property documents with technical and legal clearance of property

FAQs on Grihum Housing Loan

1. Can I have a co-applicant for my home loan availed from Grihum Housing Finance?
Ans. The co-owners of the property have to mandatorily become the co-applicants of a proposed home loan. Adding an earning family member as a co-applicant would also increase the chances of availing a bigger loan amount as the income and repayment capacity of those co-applicants are also factored in while evaluating the home loan application. Similarly, adding a co-applicant having higher credit score would also increase the chances of home loan approval for those having lower loan eligibility due to their poor credit score.

2. Who can be the co-applicant for home loan from Grihum Housing Finance?
Ans. The immediate family members of the applicant can apply as co-applicant(s). The co-owners of the property have to mandatorily become the co-applicant(s) of the home loan.

3. Can I foreclose my home loan availed from Grihum Housing Finance?
Ans. Yes, you can foreclose your home loan availed from Grihum Housing Finance. The HFC does not levy any foreclosure charges on home loans availed at floating rates.

4. What factors determine the eligibility of home loan applicants?
Ans. The HFC considers the age, income, work experience/business vintage, etc. for determining the home loan eligibility of applicants. Additionally, lenders also consider the credit score, minimum monthly income, EMI/NMI ratio, etc. while determining the home loan eligibility.