Disclaimer: Svatantra Micro 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 Svatantra Micro Housing Finance for home loans. No offers/services from Svatantra Micro Housing Finance are being provided by Paisabazaar for home loans. For further information about Svatantra Micro Housing Finance for home loans, users are required to reach out directly to Svatantra Micro Housing Finance.
|
Svatantra Micro Housing Finance Home Loan Highlights |
|
| Interest Rate | 11% p.a. onwards |
| Loan Amount | Up to Rs 35 lakh |
| Tenure | Up to 20 years |
| Processing Fees | 2%-3% of loan amount |
Rates as of 7th November 2024
Table of Contents
Svatantra Micro Housing Finance Home Loan Interest Rates
Svatantra Micro Housing Finance Home Loan interest rates start from 11% p.a. onwards. The lender offers differential interest rates depending on the type of home loan schemes offered to its applicants.
| Loan Type | Interest Rate (p.a.) |
| Home Purchase Loan | 11% onwards |
| Self-construction Loan | 11% onwards |
| Home Extension Loan | 11% onwards |
| Home Renovation Loan | 12.5% onwards |
| Home Loan Balance Transfer | 11% onwards |
| Plot Purchase Loan | 11% onwards |
Types of Svatantra Micro Housing Finance Home Loans
Svatantra Home Purchase Loan
Purpose: Svatantra Micro Housing Finance offers Home Purchase Loans to acquire houses in affordable housing projects including private projects, under construction properties, government projects and resale properties.
Loan Amount: Up to Rs 35 lakh
LTV Ratio: Up to 85% of property value
Tenure: Up to 20 years
Svatantra Self Construction Loan
Purpose: Consumers can avail Svatantra Self Construction Loan for constructing house on the plots owned by them.
Loan Amount: Up to Rs 35 lakh
LTV Ratio: Up to 85% of property value
Tenure: Up to 20 years
Svatantra Home Extension Loan
Purpose: Svatantra Housing Finance offers Home Extension Loan for making structural changes in the existing property, such as addition of an extra bedroom or extending a terrace.
Loan Amount: Up to Rs 35 lakh
LTV Ratio: Up to 85% of property value
Tenure: Up to 20 years
Svatantra Home Renovation Loan
Purpose: Svatantra Home Renovation Loan is offered for renovating the existing property, such as painting, tiling, flooring, plumbing, sanitary work and waterproofing.
Loan Amount: Up to Rs 5 lakh
LTV Ratio: Up to 80% of property value
Tenure: Up to 10 years
Svatantra Home Loan Balance Transfer
Purpose: Existing home loan borrowers of other banks and HFCs can avail Svatantra Home Loan Balance Transfer facility for transferring their existing home loans to Svatantra Housing Finance at lower interest rates.
Loan Amount: Up to Rs 35 lakh of property value
LTV Ratio: Up to 85%
Tenure: Up to 20 years
Svatantra Plot Purchase Loan
Purpose: Consumers can avail Svatantra Plot Purchase Loan for buying residential plots in SMHFCL approved Government or private sector projects.
Loan Amount: Up to Rs 20 lakh
LTV Ratio: Up to 80%
Tenure: Up to 15 years
Svatantra Housing Finance Home Loan Fees and Charges
| Particulars | Charges |
| Processing Fee | 2%-3% of loan amount |
| Prepayment Charges | NIL |
| Cheque Bounce Charges | Rs 500 |
| Statement Charges | Soft Copy- Free of Cost 24/7
Hard Copy- Rs 500 |
| Cheque Handling Charges | Rs 150 |
| Cash Handling Charges | Rs 300 |
| Late Payment Charges | 2% per month on the amount due |
| Document Retrieval Charges | Rs 500 per document or Rs 1,000 for all documents |
| List of Documents/Foreclosure Letter Charges | Rs 500 |
Also Check: Home Loan EMI Calculator
Eligibility Criteria for Svatantra Housing Loan
Svatantra Micro Housing Finance has not disclosed the home loan eligibility criteria for its applicants. However, the eligibility of Svatantra home loan applicants depends on their repayment capacity, credit history, income stability and positive verification.
Svatantra Housing Home Loan Documents Required
Svatantra Micro Housing Finance has not mentioned the documents required for availing home loans. However, the lender may consider the following documents while applying for Svatantra Micro Housing Finance Home Loan.
- Identity Proof- Aadhaar card, PAN card, passport, driving license, voter ID
- Address Proof- Aadhaar card, PAN card, utility bills, voter ID, passport
- For salaried- Salary slip for last 3 months, ITR/Form 16, bank account statement for last 6 months
- For self-employed- ITR with income computation for past 3 years of both individual and business entity duly attested by a CA, balance sheet and P&L statement for last 3 years, with schedules and annexures
FAQs on Svatantra Micro Housing Finance Home Loan
1. What is the current home loan interest rate offered by Svatantra Micro Housing Finance?
Ans. Svatantra Micro Housing Finance offers home loan interest rates starting from 11% p.a. onwards depending on the credit profile of its applicants.
2. How can I apply for Svatantra Micro Housing Finance home loan?
Ans, You can apply for Svatantra Micro Housing Finance home loan either through the official website of the HFC or by visiting any branch of the bank. Applicants should also visit online financial marketplaces like Paisabazaar.com to compare the home loan offers provided by various lenders.
3. What are the home loan prepayment charges levied by Svatantra Micro Housing Finance?
Ans. Svatantra Micro Housing Finance does not levy any charges on prepaying home loans.
4. What is the maximum home loan amount available from Svatantra Micro Housing Finance?
Ans. Svatantra Micro Housing Finance claims to offer a maximum loan amount of Rs 35 lakh to its home loan applicants.
5. What is the minimum credit score required to avail Svatantra Home Loan?
Ans. Svatantra Micro Home Finance has not specified the minimum credit score required for availing home loans. However, applicants having credit scores of 700 and above usually have higher chances of availing home loans.