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Sundaram Home Finance Home Loan Interest Rates 2022

Sundaram Home Finance Housing Loan Interest Rate -Today

Last Updated 03rd Jun 2021

Loan AmountHome Loan Rate
Upto ₹ 20 Lakh6.95%
₹ 20 Lakh - ₹ 30 Lakh6.95%
₹ 30 Lakh - ₹ 75 Lakh6.95%
Above ₹ 75 Lakh6.95%
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Sundaram Home Finance Home Loan Rate

Sundaram Home Finance offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.95% up to 6.95%. Apart from the interest rate, the bank also has various other charges such as Sundaram Home Finance processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Sundaram Home Finance Home Loan Processing Fee and Other Charges

Sundaram Home Finance charges the maximum processing fees at ₹ 0 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 NIL
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Sundaram Home Finance Home Loans Schemes

Sundaram Home Finance offers a housing loan interest rate at 6.95%. 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, Sundaram Home Finance 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 Sundaram Home Finance home loan rates for multiple housing schemes.

Sundaram Home Finance Home Loan Scheme Interest Rates
Sundaram Home Loan Balance Transfer6.95%
Home Loan6.95%

Sundaram Home Finance Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Sundaram Home Finance for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 20 Lakh 6.95%
₹ 20 Lakh - ₹ 30 Lakh 6.95%
₹ 30 Lakh - 75 Lakh 6.95%
Above ₹ 75 Lakh 6.95%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 20 Lakh 6.95%
₹ 20 Lakh - ₹ 30 Lakh 6.95%
₹ 30 Lakh - 75 Lakh 6.95%
Above ₹ 75 Lakh 6.95%

Sundaram Home Finance Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Sundaram Home Finance Home Loan Rate For Women Sundaram Home Finance Home Loan Rate For Govt Employee
Upto ₹ 20 Lakh 6.95% 6.95%
₹ 20 Lakh - ₹ 30 Lakh 6.95% 6.95%
₹ 30 Lakh - 75 Lakh 6.95% 6.95%
Above ₹ 75 Lakh 6.95% 6.95%

Sundaram Home Finance Home Loan Balance Transfer Interest Rates

Sundaram Home Finance 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 Sundaram Home Finance 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, Sundaram Home Finance offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Sundaram Home Finance
Maximum Annual Percentage Rate (APR) 6.95% to 6.95%
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 20 Years
  • Sundaram Home Finance Home Loan Interest Rate: 6.95% to 6.95%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 772 for 20 Years ₹ 1,00,000 loan at 6.95% (lowest rate, longest time period) to ₹ 8,650 for 1 Years ₹ 1,00,000 loan at 6.95% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.95% to 6.95%
  • Total cost payable over loan tenure: ₹ 1,03,804 for 1 Years loan to ₹ 1,85,352 for 20 Years loan

FAQs

Has Sundaram Home Finance reduced home loan rates?

As per the current rates, Sundaram Home Finance has hiked its home loan rates by 0.05% from 6.90% to 6.95%, which is one of the best rates in the market. The new rates are effective from 27 May, 2021.

Why should I opt for balance transfer to Sundaram Home Finance?

Sundaram Home Finance offers lowest Home Loan EMI of ₹ 772 per lakh availed at the lowest interest rate 6.95% for a maximum tenure of 20 years. If you are paying an EMI more than ₹ 772 per lakh, you should consider the option for a loan transfer to Sundaram Home Finance from your existing bank. Current Sundaram Home Finance balance transfer rate is 6.50%.

Can Sundaram Home Finance 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 Sundaram Home Finance to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can Sundaram Home Finance revise the home loan interest rates for their existing customers?

Yes, Sundaram Home Finance offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised 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 Sundaram Home Finance offer a concessional home loan interest rate for women?

Yes, Sundaram Home Finance offers special home loan interest rates for women. As against Sundaram Home Finance home loan rates for male which is 6.95%, the home loan interest rate for women starts at %.

What is the Sundaram Home Finance home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Sundaram Home Finance provides home loan interest rate starting at 6.95%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an Sundaram Home Finance employee get a home loan?

Sundaram Home Finance offers concessional home loan rates of about 1% than the current home loan rates to Sundaram Home Finance employees.

Is Sundaram Home Finance home loan a floating rate loan or fixed-rate loan?

Sundaram Home Finance home loan is offered 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 Sundaram Home Finance home loan rate today ?

Sundaram Home Finance home loan rate today is in the range of 6.95% to 6.95%.The bank also charges a processing fee of upto of the home loan amount.

How much interest does Sundaram Home Finance take on home loans?

The rate of interest on Sundaram Home Finance home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Sundaram Home Finance home loan current interest rate 2021 are in the range of 6.95% to 6.95%.


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Sundaram Home Finance Home Loan News - Jan 2022
  • 2021-06-03 : Sundaram Home Finance revised its home loan rates
    With effect from 1 June 2020, Sundaram Home Finance revised its home loans rates. The new home loan rates start from 6.95%
  • 2021-05-24 : Sundaram Home Finance reported a 68% jump in Q4 profit
    Sundaram Home Finance registered a net profit of Rs36.60cr for the Q4 ended 31st March 2021. Profit from Continuing Operations for Q4 ended 31st March 2021 went up 68% to Rs36.60cr. Loans which includes home, LAP, personal, two-wheeler, car, doctor and education loan along with business and mudra loans went up 18% to Rs459.38cr. Further, the deposit which includes FD and RD went up to Rs1810cr as of 31st March 2021.
  • 2021-01-27 : Sundaram Home Finance Q3 net rose by 36%
    Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs 56.24cror. Disbursements for Q3 stood at Rs 4,16.57 crore backed by home, personal, car, two wheeler and gold loans along with business and mudra loans.
  • 2020-11-10 : Sundaram Finance posts ₹192-crore profit in Q2
    Sundaram Finance recorded net profits at Rs 192 crore backed by retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans for the quarter ending September 30, 2020. It posted net profits at Rs 269 crore during the corresponding quarter previous year. The company reported disbursements of Rs 3,174 crore in Q2, against Rs 3,832 crore in the year-ago period.
  • 2020-08-11 : Sundaram Finance Ltd posts Rs. 269.26 crore consolidated net profit in Q1
    Sundram Finance reported a net profit of Rs.269.26 crores for the period ended June 30, 2020, as against a net profit of Rs.195.64 crores for the period ended March 31, 2020. It reported total income of Rs.1276.98 crores aided by home loans during the period ended June 30, 2020.
*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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