Disclaimer: Nivara Home 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 Nivara Home Finance for home loans. No offers/services from Nivara Home Finance are being provided by Paisabazaar for home loans. For further information about Nivara Home Finance for home loans, users are required to reach out directly to Nivara Home Finance.
| Nivara Home Finance Home Loan Highlights | |
| Interest Rate | 8.25%-25% p.a. |
| Processing Fees | 3% of loan amount |
Rates as of 22nd November 2024
Table of Contents
Nivara Home Finance Rate of Interest
Nivara Home Finance offers home loans at both fixed and floating interest rates. While, the lender has not disclosed its differential home loan interest rates, it may consider the credit score, monthly income, employer’s profile, job profile, etc. of its applicants while setting its home loan interest rates, just like many lenders do.
| Loan Type | Interest Rates (p.a.) |
| Fixed Rate | 8.25%-25% |
| Floating Rate | 8.25%-25% |
Compare Interest Rates of 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. | 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 |
Check Lenders Offering Home Loan at Attractive Interest Rates Click Here
Nivara Home Finance – Home Loan Fees and Charges
| Particulars | Charges/Fees |
| Application processing charges | Rs. 5,000 (inclusive of Service Tax) |
| Loan processing fee | 3.0% + Service Tax |
| Late payment charges | 3% per month on Overdue EMIs |
| Pre-payment Charges | If the loan is foreclosed/partly prepaid from own source of funds:
· For Floating rate of Interest: NIL · For fixed rate of interest: NIL If the loan is foreclosed from other sources: · 4%+ S.T. as applicable on outstanding principle and all part prepayments done in case loan is closed within 12 months from the date of commencement of EMI. · 3% + S.T. as applicable on outstanding principle and all part prepayments done in last 12 months in case loan is closed after 12 months from the commencement of EMI. |
| SRO Search, ROC Search, Non-Encumbrance Certificate from SRO, Creation of charge at ROC | On actuals for applicable charges |
| CERSAI Fees | Rs. 50 + ST (for loans <= Rs. 5 lakh) Rs. 100 + ST (for loans > Rs. 5 lakh) |
| PDC / ECS Dishonor Charges | Rs. 500 for each PDC / ECS bounce |
| PDC/ECS Swapping Fees | Rs.1,000 per instance + S.T. |
| Disbursement Cheque Cancellation & re-issuance | Rs. 1,000/- + ST (cancellation Charges) & Pre-EMI will be charged. |
| Retrieval charges for Copies of loan /property document from Nivara’s custody | Rs.1,000 per instance + S.T.+ Courier Charges |
| Charges for Statement of Account/Amortization Schedule/NOC/NDC | Rs. 500 + S.T. |
| Duplicate Annual Account Statement, Provisional Certificate | Rs. 500 + S.T. |
| Loan re-schedulement (at the discretion of Nivara) | 0.50% of the loan outstanding + Service Tax |
| Swap Charges for fixed or semi-fixed rate to floating rates and vice-versa (at the discretion of Nivara) | 2% of the loan outstanding |
| Disbursement postponement after the Cheque is made | · If the request is received within 7 days of the disbursement: Rs. 1,000/- + ST.
· If the request is received after 7 days of the disbursement: Rs. 1,000/- + ST Plus Pre-EMI till the date of cancellation request |
| Transaction Handling charges in Balance Transfer | Rs.2,500/- + S.T |
| Technical Valuation | NIL, included in the Processing fee |
Types of Nivara Home Finance
Nivara Home Loan Purchase
Prospective home loan borrowers can avail Home Loan for Purchase from Nivara Home Finance to purchase flat, apartment or individual house, both new or on resale, intended as self-occupied property.
Nivara Home Loan for Construction
Nivara Home Finance offers Home Loans for Construction to construct the house on plots already owned by the applicants.
Nivara Composite Home Loan
Nivara Composite Home Loan is offered to prospective home loan borrowers seeking finance for purchasing of plot as well as the construction of house. The construction of the property has to be initiated within 1 year from the date of loan disbursement for land purchase.
Nivara Loan for Improvement/Extension
Nivara Home Loans for Improvement/Extension can be availed for undertaking renovation, extension or repair of self-occupied residential properties.
Check Lenders Offering Home Loan at Attractive Interest Rates Click Here
Eligibility Criteria for Nivara Home Finance
- Both salaried or self-employed individuals having the eligibility to service repayment obligations can apply for home loan
- Co-applicants of the home loan can be the spouse or immediate family member of the applicant. All co-owner(s) of the property should necessarily be the co-applicant(s) to the home loan. Spouse of the married applicants also has to be co-applicant if the applicant for the home loan.
In addition to the above mentioned eligibility criteria, Nivara Home Finance may also consider the credit score, monthly income, age, occupation profile, employer’s profile, EMI/NMI ratio, etc. of its home loan applicants to determine their home loan eligibility, just like most lenders do.
Documentation Required for Nivara Home Finance
Nivara Home Finance has not disclosed the home loan documents required for availing home loans. However, lenders usually ask their prospective home loan borrowers to submit the below-mentioned documents:
- ID Proof: PAN card, Aadhar card, Driving License, Voter ID, etc.
- Address Proof: Passport, Voter ID, Aadhar card, Utility bills (such as electricity bills, telephone bills, water bills, gas bills), Ration card, etc.
- Passport size photographs of applicant and co-applicant
- Income Proof for salaried: Form 16, payslip for last 3 months, increment/promotion letter, certified letter from the employer
- Income Proof for self-employed: Income Tax Returns for last 3 years, professional practice certificate for doctors, consultants, CAs, etc., balance sheet and P&L account statement attested by a Chartered Accountant, details of their business license and certificate for establishment of factories, shops, etc.
- Additional documents for self-employed: Recent Form 26AS, business profile, list of shareholders and directors with details of individual shareholding certified by a CS or CA (incase the business entity is a company)
- Business address proof
- Partnership deed if business entity is a partnership firm
- Articles of Association (AOA) and Memorandum of Association (MOA) of the company
- Property documents such as copy of sale agreement, title deeds of the plot, receipts of payments made to the developer, detailed estimate of construction of house by architect or civil engineer, etc.
- Bank statement of last 6 months
- Own contribution proof
- Processing fee cheques in favour of the home loan lender
Nivara Home Finance Home Loan EMI Calculator
Applicants can calculate the total interest cost and EMIs payable using the Nivara Home Finance Home Loan EMI Calculator given on the official website of Nivara Home Finance. Alternatively, applicants can use the home loan EMI calculator given below and calculate the instant results.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Nivara Home Finance Home Loan Customer Care
Toll free number- 1800-309-1516
Phone- 8026552822
Email Id- contact@nivarahousing.com
Grievance Redressal-
In case of delay, borrowers may escalate the complaint to:
The Managing Director,
Nivara Home Finance Limited,
22,23,24,25/101/3, 3rd floor, BNR complex,
Sri Rama Layout, Opp. RBI Layout,
7th phase, JP Nagar,
Bangalore- 560078
Email Id- md@nivarahousing.com
FAQs on Nivara Home Finance
1. What is the current home loan interest rate of Nivara Finance?
Ans. Nivara Home Finance offers home loan interest rates ranging between 8.25% to 25% p.a. depending on the credit profile of its applicants.
2. How do I apply for Nivara Home Finance Home Loans?
Ans. You can apply for Nivara home loans either through the official website of the HFC or by visiting any branch of Nivara Home Finance. Applicants should also visit financial marketplaces like Paisabazaar.com to compare the home loan interest rates offered by various lenders.
3. What is the minimum credit score required to avail Nivara Home Loans?
Ans. Nivara Home Finance has not mentioned the credit score required to avail home loans. However, applicants having credit score of 700 and above have higher chances of availing home loans from Nivara Home Finance.
4. What are the foreclosure charges levied on Nivara housing loan applicants?
Ans. Nivara Home Finance does not charge any foreclosure fees for home loans offered at floating interest rates. However, for fixed rate home loans, the foreclosure charges levied is 5% if the loan is foreclosed within 12 months from commencement of EMI; 4% if the loan is foreclosed between 12-24 months from commencement of EMI and 3% if the loan is foreclosed between 24-36 months from commencement of EMI.