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Sundaram Home Finance Home Loan Interest Rates 2021

Sundaram Home Finance Housing Loan Interest Rate -Today

Last Updated 03rd Jun 2021

Current Sundaram Home Finance Home Loan interest rates Jul 2021 starts at 6.95% p.a. for a maximum tenure of 20 years. The processing fee on its housing loans is .

Loan AmountHome Loan Rate
Upto ₹ 30 Lakh6.95%
₹ 30 Lakh - ₹ 75 Lakh6.95%
₹ 75 Lakh - ₹ 2 Cr6.95%
Above ₹ 2 Cr6.95%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Sundaram Home Finance Home Loan Rate

Today Sundaram Home Finance home loan interest rates are in the range of 6.95% to 6.95%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.95%.

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 Rates for Salaried and Self Employed

The home loan interest rates in Sundaram Home Finance for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 6.95%
₹ 30 Lakh - ₹ 75 Lakh 6.95%
₹ 75 Lakh - 2 Cr 6.95%
Above ₹ 2 Cr 6.95%

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
Foreclosure Charges Nil for floating rate home loans

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 lowest home loan balance transfer rate of 6.95%.

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

What is Sundaram Home Finance Home Loan Interest Rate?

Sundaram Home Finance Home Loan interest rate ranges between 6.95% to 6.95%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

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%. 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. 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.

  • Floating rate on Sundaram Home Finance housing loan is linked to its PLR Rate, which is currently at 15.55%. When Bank offers a Home Loan at %, it applies a discount of 15.55% 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 Sundaram Home Finance Home Loan rate?

The current Sundaram Home Finance Home Loan rate starts from 6.95% with a processing fee of .Sundaram Home Finance housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Sundaram Home Finance offers different home loan rates for different home loan products.

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.

What are the interest rates of home improvement loans in Sundaram Home Finance?

You can avail of Sundaram Home Finance home loans for home improvement at regular home loan rates starting at 6.65%.

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

Sundaram Home Finance 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 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?

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

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 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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Sundaram Home Finance Home Loan News - Jul 2021
  • 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.
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