What is the home loan interest rate of Annapurna Finance?

Annapurna Finance is a microfinance company that offers a variety of loan products, including home loans. I know a friend who had applied for a home loan through Annapurna, so I can tell you that the Annapurna Finance loan interest rate starts at 23.55% and goes up to 23.99%. This is a relatively high interest rate compared to other banks and financial institutions.

Here are some of the factors that affect the home loan interest rate at Annapurna Finance:

• Loan amount: The loan amount of Annapurna Finance is comparatively really higher than other banks offering home loans.

• Loan tenure: The loan tenure is also higher for Annapurna as compared to other banks.

• Credit score: Borrowers with a good credit score will be eligible for a lower interest rate.

• Property type: The type of property you are buying will also affect the interest rate. For example, a home loan for a residential property will have a lower interest rate than a home loan for a commercial property.

It is important to compare the home loan interest rates of different banks and financial institutions before choosing a lender. You can use a home loan calculator to compare the interest rates and EMIs of different home loans.

It is also important to note that the home loan interest rate is not the only factor that you should consider when choosing a home loan. You should also consider the other terms and conditions of the loan, such as the processing fees, prepayment penalties, and foreclosure charges.

I hope now you know the Annapurna Finance loan interest rate.

I know that one of the nation's fastest-growing microfinance companies is Annapurna Microfinance Pvt. Ltd. (AMPL), which is classified as an NBFC-MFI. You must be also thinking about getting a home loan from Annapurna Microfinance. But looks like you are not aware of its interest rate. So let’s dig in deep to know what is Annapurna Finance home loan interest rate.

What is the interest rate of the Annapurna Finance home loan?

So the home loan interest rate of Annapurna Finance starts from 23.55% and goes up to 23.99%. And the following are the features of the loan:

• You can unsecured loans from Rs.1,00,000 to Rs.3,00,000.

• You can unsecured loans from Rs.3,00,000 to Rs.25,00,000.

• The tenure for the loan is 12 to 36 months.

• You need to provide collateral for loans above Rs.3 Lakhs.

• The repayment frequency is monthly.

• You have to pay the processing fees of 2.5% + applicable GST.

• This tells you what is the home loan interest rate of Annapurna Finance.

What are Annapurna loans for home improvement?

You may use this financing for either house renovations or home additions. Its goal is to give low-income families technical and economic assistance for home improvements. The insurance premiums for borrowers are Rs. 7.62 per Rs. 1000 for the first two years, Rs. 11.08 per Rs. 1000 for the third year, and Rs. 15 per Rs. 1000 for the fourth year. House renovation loans are available to Annapurna Microfinance's current customers who are in their second cycle or higher. The information below relates to home repairs:

• Anyone may choose to use this loan.

• Building requirements are set according to the existing norms.

• The range of loans is between Rs. 20000 and Rs. 60000.

• The loan term ranges from 18 to 36 months.

• ECS or monthly cash payments are accepted as loan repayment methods.

• Disbursement of the loan is made to your account directly.

• The loan's interest rate is 22% decreasing.

• Taxes and the processing fee total 1% of the loan amount.

• The maximum loan amount approved is 85% of the building cost.

I must have guided you well on the Annapurna Finance home loan interest rate.