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Aavas Financiers Home Loan Interest Rates 2021

Aavas Financiers Housing Loan Interest Rate -Today

Last Updated 17th Jul 2020

Current Aavas Financiers Home Loan interest rates Jul 2021 starts at 12.00% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Upto 1.00%.

Loan AmountHome Loan Floating Rate
Upto ₹ 30 Lakh12.00%
₹ 30 Lakh - ₹ 75 Lakh12.00%
₹ 75 Lakh - ₹ 2 Cr12.00%
Above ₹ 2 Cr12.00%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Aavas Financiers Home Loan Rate

Today Aavas Financiers home loan interest rates are in the range of 12.00% to 12.00%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 12.00%.

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

Aavas Financiers Home Loan Scheme Interest Rates
Home Loan Floating12.00%

Aavas Financiers Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Aavas Financiers for salaried & non-salaried employee is mentioned in the table below:

Home 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 Home 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. on home loan which is typically non-refundable and has to be paid at the time of loan application. 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;
Foreclosure Charges Nil for floating rate home loans

Aavas Financiers Home Loan Balance Transfer Interest Rates

Aavas Financiers home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Aavas Financiers at a lower rate of interest, without closing the account. However, you do 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 lowest home loan balance transfer rate of 12.00%.

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


What is Aavas Financiers Home Loan Interest Rate?

Aavas Financiers Home Loan interest rate ranges between 12.00% to 12.00%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Aavas Financiers reduced home loan rates?

As per the current rates, Aavas Financiers has hiked its home loan rates by 4% from 8.00% to 12.00%. The new rates are effective from 01 Apr, 2021.

Why should I opt for balance transfer to Aavas Financiers?

Aavas Financiers offers lowest Home Loan EMI of ₹ 1,029 per lakh availed at the lowest interest rate 12.00% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 1,029 per lakh, you should consider the option for a loan transfer to Aavas Financiers from your existing bank.

  • Floating rate on Aavas Financiers housing loan is linked to its PLR Rate, which is currently at 20.15%. When Bank offers a Home Loan at %, it applies a discount of 20.15% to its PLR Rate to arrive at this Home Loan rate.
  • When RBI increases rates, the bank may increase its PLR rate and the applicable interest rate for all existing and new Home Loans would increase. When RBI cuts interest rates and the bank reduces the PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

What is the current Aavas Financiers Home Loan rate?

The current Aavas Financiers Home Loan rate starts from 12.00% with a processing fee of Upto 1.00%.Aavas Financiers housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Aavas Financiers offers different home loan rates for different home loan products.

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 home loan rates.

What are the interest rates of home improvement loans in Aavas Financiers?

You can avail of Aavas Financiers home loans for home improvement at regular home loan rates starting at 6.65%.

Can Aavas Financiers revise the home loan interest rates for their existing customers?

Aavas Financiers home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

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 %.

What is the Aavas Financiers home loan rate of ₹ 25 Lakh for 15 years?

Aavas Financiers home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Aavas Financiers provides home loan interest rate starting at 6.65%.

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.

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

Aavas Financiers home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.

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*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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