I did some research to learn about the home loan interest rate in Sundaram Finance. I learned that they offer a floating interest rate, which can vary depending on the market lending rates. The interest is also calculated on a monthly reducing balance basis. I also learned that the principal amount reduces every month from the EMI net of interest accrued. Besides this, I also learned about the eligibility and documents required for the loan.
What is the Sundaram Finance Home Loan Rate of Interest?
As I mentioned above, the interest rate depends on the market lending rates and is calculated on a monthly reducing balance basis. So to get an exact interest rate it’s better that you contact the Bank.
If you are planning to opt for this loan, then you need to fulfil certain criteria, such as
You should be between 18 - 65 years of age.
You should be an Indian.
Besides that, the documents necessary for the Sundaram home loan are as follows.
KYC Documents: PAN Card, Aadhaar Card, Driving Licence, Passport, Bank Passbook with photo, Voter ID Card.
Income Documents: Last 6 months' salary slips, Last 6 months' bank statements showing salary credits, Latest form-16 and IT returns.
You also need to provide property documents, such as sale deeds, Completion certificates, etc.
And that’s about it. This is everything that I have learned about the Sundaram Home Loan interest rate. I hope this helps.
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Home loans with competitive Sundaram finance home loan interest rates starting at 7.85% p.a. are available to eligible individuals from Sundaram Home Finance Ltd. With a maximum 20-year payback period, you can obtain a mortgage loan for up to 85% of the cost of the house.
Calculate your EMI on a home loan via the NoBroker EMI calculator Get home loans without hefty paperwork through NoBrokerWhat is the home loan rate of interest in Sundaram finance?
7.85% p.a. onwards for salaried individuals, and 8.35% p.a. onwards for self-employed individuals.
The Processing fee is Rs.3,000 + GST PF (For salaried) (Not applicable for plot loans)+ Tax (for Self employed). There is no pre-closure charges.
What type of interest will be offered for my home loan?Floating (variable) rate of interest will be offered.
Features of Sundaram Home Finance Limited:A house loan from Sundaram Home Finance Limited is available to salaried individuals for a maximum term of at least twenty years, or until the borrower reaches retirement age, whichever comes first.
Self-employed people can apply for loans for up to 15 years, or until they reach 65 years old, whichever comes first.
Sundaram Home Finance Ltd also offers house loans to NRIs. The maximum loan tenure applicable is 15 years or until the borrower is of retirement age, whichever comes first.
I’d like to conclude my answer here about Sundaram finance home loan interest rates. I hope this helps:)
Read More:
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Authors Of The Question
What Is The Home Loan Rate Of Interest In Sundaram Finance?
Karishma
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2 Answers
1 Year
2023-03-13T09:59:00+00:00 2023-03-13T10:21:44+00:00Comment
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