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Sundaram Home Finance Home Loan

Sundaram Home Finance Housing Loan 2021

Last Updated 03rd Jun 2021

Sundaram Home Finance is a large NBFCs with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 6.95% with quick approval and online process. Home Loan in Sundaram Home Finance is quite popular with its special features and attractive rates under various Sundaram Home Finance home loan schemes for different income and occupation groups. Some of the key features of Sundaram Home Finance housing loan are:

  • Sundaram Home Finance also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • Sundaram Home Finance has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your Sundaram Home Finance home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
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Sundaram Home Finance Home Loan Details

Sundaram Home Finance offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan Sundaram Home Finance

Age Min 21 and Max 60 years for Salaried
Min 21 and Max 70 years for Self Employed
Repayment Tenure 20 years
Interest Rate 6.95%
Interest Rate Linked To PLR
Processing Fee Maximum ₹ 0
Lowest EMI Per Lakh ₹ 772
  • Purpose of Loan: Sundaram Home Finance house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of Sundaram Home Finance Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 85%.
    • Loan Tenure can range from 1 to 20 years.
    • Interest rates in the range of 6.95% to 7.40%.
    • Sundaram Home Finance home loan EMI per lakh starts from ₹ 772. However, you can calculate your home loan EMI using Sundaram Home Finance home loan calculator 2021.
  • Special schemes: Sundaram Home Finance offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of Sundaram Home Finance Home Loans

Some of the features and benefits of Sundaram Home Finance Home Loans are listed as follows:-

  • Sundaram Home Finance Home Loan Interest Rate starts from 6.75%.
  • Sundaram Home Finance charges a processing fees of Maximum ₹ 0.
  • Loan Tenure of Home Loan ranges from 1 years to 30 years.
  • Lowest EMI per lakh on home Loan from Sundaram Home Finance is per lakh offered at the lowest interest rate of 6.75% at the longest loan tenure of 30 years.
  • Sundaram Home Finance allows prepayment of home loans with Nil charges on floating rate loans.

How to Get Easy Home Loan from Sundaram Home Finance?

Getting a home loan from Sundaram Home Finance is fairly easy with an online application process. 5 Steps for Sundaram Home Finance Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of Sundaram Home Finance and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of Sundaram Home Finance or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a Sundaram Home Finance’s representative will visit your home or office to collect your documents.
  • Step 4: Sundaram Home Finance will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from Sundaram Home Finance and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

Sundaram Home Finance Home Loan Documents Required

To apply for a home loan in Sundaram Home Finance, the bank asks you to submit the following Sundaram Home Finance Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or Sundaram Home Finance account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

Sundaram Home Finance Home Loan EMI Calculator

Sundaram Home Finance home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. Sundaram Home Finance Home loan calculator helps the loan borrower pre-plan their home loan in advance.

Sundaram Home Finance Home Loan Eligibility Calculator

Sundaram Home Finance Home loan eligibility calculator is an online tool that helps the Sundaram Home Finance home loan borrowers get an estimate of their home loan eligibility. The eligibility calculator takes into consideration various factors such as the income of the applicant, age, work experience, employment and credit score. The eligibility calculator helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare Sundaram Home Finance Home Loan with Other Banks

FAQs

What are the documents required for home loan Sundaram Home Finance?

To apply for Sundaram Home Finance Home Loan, you will be required to submit Sundaram Home Finance home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from Sundaram Home Finance ?

Below-mentioned is the reason why you must avail a home loan from Sundaram Home Finance

Can I apply for an Sundaram Home Finance home loan online?

Yes, you can apply for a Sundaram Home Finance home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best Sundaram Home Finance home loan scheme?

Choosing the best Sundaram Home Finance home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best Sundaram Home Finance home loan scheme is based on one’s needs.

Is Sundaram Home Finance good for a home loan?

Sundaram Home Finance is one of the best home loan lenders in the country. Currently, Sundaram Home Finance home loan interest rate 2021 starts at 6.65%.

How can I check my Sundaram Home Finance home loan status?

One can check their Sundaram Home Finance home loan status on Sundaram Home Finance’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the Sundaram Home Finance mobile app

What is the eligibility for a Home Loan of Sundaram Home Finance?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is Sundaram Home Finance Home Loan procedure?

There are two methods to complete the application for Sundaram Home Finance Home Loan Process online:

  • Apply online at Sundaram Home Finance official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

What is the maximum loan tenure I can opt under Sundaram Home Finance house loan?

Sundaram Home Finance offers you a longer tenure of 20 years to repay your loan with the benefit of paying less EMI per month.

Does Sundaram Home Finance check CIBIL for home loan?

Yes, to avail home loan from Sundaram Home Finance, you must fulfill Sundaram Home Finance Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to Sundaram Home Finance?

Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Availing loan transfer to Sundaram Home Finance can allow you to save interest, pay lower EMIs, and save money.

Can I club the income of my spouse with mine and apply for joint Home Loan?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in Sundaram Home Finance is PLR . PLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In PLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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Sundaram Home Finance Home Loan News - Jun 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.
*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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