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Aavas Financiers Home Loan Interest Rates 2022

Aavas Financiers Housing Loan Interest Rate -Today

Last Updated 28th Jan 2022

  • Current Aavas Financiers Home Loan interest rates May 2022 starts at 12.00% p.a. for a maximum tenure of 30 years.
  • The processing fee on Aavas Financiers housing loans is Upto 1.00%. Check Best Offers.
  • Use Aavas Financiers home loan interest calculator to calculate EMI on lowest rates.
Interest Rate General 12.00% - 12.00%
Interest Rates for Women 12.00%
Benchmark rate PLR
Processing Fees NIL
Part Payment/Foreclosure Charges Nil for floating rate home loans
Balance Transfer Rates 6.50%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Voucher

Aavas Financiers Home Loan Interest

Aavas Financiers offers home loans to both salaried individuals and self-employed at a minimum rate starting at 12.00%. Apart from the interest rate, the bank also has various other charges such as Aavas Financiers processing fee and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

  • Current Aavas Financiers Bank housing loan interest rates range between 12.00% to 12.00% for male borrowers.
  • Aavas Financiers home loan interest for women borrowers is less than the general housing loan rates and starts at 12.00%.
  • Existing customers can get the lowest Aavas Financiers bank home loan rate by negotiation with the bank.

Aavas Financiers Housing Loan Processing Fee and Other Charges

Aavas Financiers home loan processing charges are upto 1.00% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 1.00% of the loan amount;
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest Rates on Aavas Financiers Home Loans Schemes

Aavas Financiers offers a housing loan interest rate of 12.00%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Aavas Financiers home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Aavas Financiers home loan rates for multiple housing schemes.

Aavas Financiers Home Loan Scheme IR Salaried (Male) IR Salaried (Female) IR Self-employed (Male) IR Self-employed (Female)
Home Loan Floating 12.00% 12.00% 12.00% 12.00%

Aavas Financiers Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Aavas Financiers for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 12.00%
₹ 30 Lakh - ₹ 75 Lakh 12.00%
₹ 75 Lakh - 2 Cr 12.00%
Above ₹ 2 Cr 12.00%

Housing Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 12.00%
₹ 30 Lakh - ₹ 70 Lakh 12.00%
₹ 70 Lakh - 2 Cr 12.00%
Above ₹ 2 Cr 12.00%

Aavas Financiers Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Aavas Financiers Home Loan Interest For Women Aavas Financiers Home Loan Interest For Govt Employee
Upto ₹ 30 Lakh 12.00% 12.00%
₹ 30 Lakh - ₹ 75 Lakh 12.00% 12.00%
₹ 75 Lakh - 2 Cr 12.00% 12.00%
Above ₹ 2 Cr 12.00% 12.00%

Aavas Financiers Home Loan Balance Transfer Interest Rates

Aavas Financiers home loan balance transfer facility is ideal for existing home loan customers paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Aavas Financiers at a lower interest rete without closing the account. However, you need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Aavas Financiers offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Aavas Financiers
Maximum Annual Percentage Rate (APR) 12.03% to 12.03%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 1 Years to 30 Years
  • Aavas Financiers Home Loan Interest Rate: 12.00% to 12.00%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 1,029 for 30 Years ₹ 1,00,000 loan at 12.00% (lowest rate, longest time period) to ₹ 8,885 for 1 Years ₹ 1,00,000 loan at 12.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 12.03% to 12.03%
  • Total cost payable over loan tenure: ₹ 1,07,619 for 1 Years loan to ₹ 3,71,300 for 30 Years loan

Aavas Financiers Home Loan Rate Trends (Historical)

Aavas Financiers, which is one of the leading HFC in the country offers the lowest home loan rate starting at 12.00%. There has been no change in the lowest interest rate of Aavas Financiers home loan interest rate for a long time and the interest rate continues to be in the range of 12.00% to 7.95%.

FAQs

Is Aavas Financiers home loan a floating rate loan or a fixed-rate loan?

Aavas Financiers offers home loans at both fixed and floating rates. In the case of the fixed rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Aavas Financiers home loan interest rate for existing customers?

Existing customers of Aavas Financiers who have any other loan accounts or investment accounts in Aavas Financiers can get a discounted rate than the general Aavas Financiers bank home loan interest rate. The current Aavas Financiers home finance rate of interest is 12.00%.

What is the Aavas Financiers home loan rate today?

Aavas Financiers offers home loan interest rate today is in the range of 12.00% to 12.00%. The bank does not charge any processing fees on the home loan amount. You can get the lowest Aavas Financiers interest rate if you have a good CIBIL and existing relationship with the bank.

Why should I opt for balance transfer to Aavas Financiers?

Aavas Financiers offers the lowest balance transfer rates on housing loans. At the lowest rates, your housing loan EMI will be ₹ 1,029. If you are paying an EMI of more than ₹ 1,029, you should transfer your outstanding loan from the existing bank to Aavas Financiers. Apart from the discounted rates, you can also avail of flexible loan tenure, top-up loans and other benefits.

Can Aavas Financiers housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Aavas Financiers to lower the Aavas Financiers interest rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Does Aavas Financiers offer a concessional home loan interest rate for women?

Yes, Aavas Financiers offers special home loan interest rates for women. As against Aavas Financiers home loan rates for male which is 12.00%, the home loan interest rate for women starts at %.

At what interest rate does an Aavas Financiers employee get a home loan?

Aavas Financiers offers concessional home loan rates of about 1% than the current home loan rates to Aavas Financiers employees.


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Aavas Financiers Home Loan News - May 2022
  • 2022-01-28 : Avanse Financial Raises ₹357 crore
    Avanse Financial Services Ltd, a non-banking financial company (NBFC), has raised ₹357 crores via securitization transaction from a global financial institution. This long-term funding is for a period of about ten years. The transaction was facilitated by Northern Arc Capital (formerly IFMR Capital Finance).
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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