Aspire Home Finance Corporation Limited offers home loans with great features and benefits like: attractive housing finance rates, balance transfer facility, doorstep service, nil prepayment charges and quick and transparent processing. You can find your eligibility for an Aspire Home Finance Corporation Limited home loan by filling in a short form.
Types of Home Loans Provided by Aspire Home Finance:
-
- Home Loans (Purchase/ Resale):
You can apply for an AHFL Home Loan of this category if you want to buy or new property or property put up for sale. Under this category of Aspire Home Finance, you can avail a minimum of 2 lakhs as loan and a maximum of 25 lakhs.
-
- Plot Loans:
This product is designed for those looking for financial aid to buy land with the intention of building a home in it. AHFL offers plot loans up to 75 percent of the market value of the land including stamp duty and registration charges and verified by an AHFCL valuer.
-
- Constructions Loans:
As the name suggests, this loan is specially created for those seeking finance to construct a home on a plot they already own. You can apply for a loan amount up to 85 percent of the total construction expenditures, checked and approved by a qualified architect and engineer.
-
- Composite Loans from AHFL:
AHFCL provides composite loans towards buying of land (non-agricultural & only for the purpose of constructing a home). You can start the construction also with the same. Composite loans grant you a whopping figure of 75 percent of the prevalent market price of the plot which includes stamp duty as well as registration fee. You can also add the construction costs that covers 85 percent of the construction-related expenditures. These logistics should be validated by a competent architect and engineer.
-
- Home Improvement Loans:
This loan is given for the purpose of home improvement such as repainting, rewiring, or getting new furniture. Enabling you to do all kinds of external and internal reparations in structure or otherwise in your current house, it basically covers flooring, tiling, roofing, repainting, electricals, change in plumbing (if required), fixing grills and so on.
-
- Home Extension Loans:
You can apply for this loan if you want to extend your house. You might feel like adding one or more rooms or the kitchen is not big enough. If you have enough space and not enough money to go through the plan, AHFL’s Home Extension Loan is the way forward.
-
- MALA (Mahila Awaas Loan from Aspire):
Customized for working-class women, this is quite an affordable for them. You can avail a minimum amount of 2 lakhs and a maximum amount up to 12 lakhs under this scheme.
Features & Benefits of AHFL Loans:
- AHFL has a range of home finance options on its platter, targeting customers from all backdrops.
- You can avail up to 80 percent of the property value as loan.
- The interest rates are well within affordability range.
AHFL Interest Rates:
Aspire Home Finance Corporation Limited offers a floating rate of interest on its home loan. The current interest rate offered as on 3rd May 2016 is 14%. The rate of interest is applicable to all kinds of housing finance offered by the company. It is important to note that the rate of interest might change overtime.
| SL No | Housing Finance Type | Rate of Interest (AHFCL RPLR: 18.20 Percent) | ||
|---|---|---|---|---|
| Applicant Type | Interest Rate | RPLR Minus Spread | ||
| 1 | Home Loans (Purchase/ Resale) | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 2 | Plot Loans | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 3 | Construction Loans | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 4 | Composite Loans | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 5 | Home Improvement Loans | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 6 | Home Extension Loans | Salaried Employees | 12 to 15 percent | 6.20 to 3.20 percent |
| Self-employed (Professional/ Freelancer) | 12.50 to 15 percent | 5.70 to 3.20 percent | ||
| Self-employed (Non-professional i.e. entrepreneurial | 12.50 to 16 percent | 5.70 to 2.20 percent | ||
| 7 | MALA (Mahila Awaas Loan from Aspire) | Salaried & Self Employed | 10 to 13 percent | 8.20 to 5.20 percent |
Who can apply for AHFL Loans (Eligibility Criteria)
- The applicant (as well as the co-applicant) should be an Indian citizen and has to be of age 21 and above.
- The applicant(s) should have a steady source of income.
- The applicant should have a credit history satisfactory to the financier.
- Salaried people has 25 years to settle the loan through the tenure must not go beyond age 60. But for entrepreneurs, the age limit is 70.
Required Documents for AHFL Loans (Documentation Procedure)
Income Papers for Salaried Applicants:
- Copy of one or more national identity card (Id proof and resident proof)
- Salary slips of the last 3 months
- Most recent Form 16
- Last 6 months’ bank statements that reflect salary
- The cheque for processing fees from your salary account
Income Papers for Self-employed Applicants:
- Copy of one or more national identity card (Id proof and resident proof)
- Copy of your company registration paper if applicable
- Latest income statement, balance sheet, and ITR verified by a CA
- Bank statements for the past one year
How to apply for AHFL Loans from BankBazaar?
Go to the official website of BankBazaar and click on the home loan page. You will be asked to fill in a range of info such as your age, gender, basic and gross salary, other income, property details and so on. Suggested EMIs, tenures along with the current interest rate will be displayed on the screen. You will also be requested to enter your contact details and in less than a day a BankBazaar staff will get in touch with you informing of the most recent rates and suitable quotes. Please keep checking the site for exciting and lucrative offers.
Aspire Home Loan Procedure:
- Submission of a duly filled and signed application form online or in person.
- Submission of the aforementioned income documents, KYC papers and initial processing fees.
- You will have personalized assistance from an AHF official whenever you need.
- Post submission, an AHF appraisal officer will discuss your options with you, after which an authorization letter with all the loan details will be handed to you.
- After accepting the loan, you need to pay the remaining processing fees and all the papers related to your property for verification.
- Loan amount will be disbursed as agreed between you after a final scrutiny.
Fees & Charges:
| Types | Amount |
|---|---|
| Penalty for dishonored cheque | INR 250 + Applicable Charges |
| To retrieve documents | INR 500 + taxes and/ or other statutory levies |
| Fine for late EMI | 24% annually for the number of days after the due date |
| Fee for Repayment schedule / Account Statement | INR 250 + taxes |
| Charges levied for Advance Payment Statement | INR 250 + taxes |
| Charges for Copy of No Objection Certificate or No due Certificate | INR 500 + taxes |
| Charges levied for List of Document | INR 500 + taxes. |
| CERSAI Charges | INR 500 + taxes |