What is a home loan?

Home Loan is a secured loan for purchase, construction or extension of residential property. These loans carry tax benefits under income tax act for interest and principal repayment under section 24 & 80 C respectively, as notified by the government from time to time.
Composite loans are the ones given for plot purchase and construction. These loans are also classified as Home loan after the construction is completed within 3 years from purchase of plot.

What is Loan Against Property?

Loan given against mortgage of property (residential / commercial / Industrial) is known as Loan against Property. The funds procured by Loan against Property can be used for various purposes. Any one qualifying the parameters of income & property can avail Home Loan or Loan Against Property.

When can I apply for a home loan?

You can apply for a home loan with Aryath Housing Finance Ltd. as soon as you have identified a property of your choice. In fact, you can apply for a home loan even before you have selected your property in which case the loan amount would be sanctioned, based on your eligibility and repayment capability and thus help you in identifying the property accordingly.

How can I approach Aryarth Housing Finance Ltd for a loan?

You can reach us via any of the following ways:

    • Apply for a loan online. Link for application form here
    • Write to us at customerservice@aryarthhfl.com
    • Fill in your requirement details on our website for a call back from our home loan expert

What are the loan products offered by Aryarth Housing Finance Ltd.

Aryarth Housing Finance Ltd offers home loans, non-home loans, as well as receivable financing to developers in the affordable housing finance segment. The table below gives a brief idea of the products offered by the company.

Home Loan Non Home Loan
Home Loan – Purchase of Residential Property (Builder & Resale) Loan Against Property (LAP) – Residential
Home Loan – Construction LAP – Commercial
Home Extension Loan LAP BT + Top up
Home Improvement Loan LAP – Education Loan (Top up to existing customer)
Composite Loan- Plot Purchase + Construction Commercial Loan – Purchase of Commercial property
Purchase of Residential Plot Commercial Loan- Construction / Extension of Commercial Property
Balance Transfer(BT) and Top up Commercial Loan – BT + Top up
Loan against receivable to developers engaged in construction of affordable housing projects

How much loan am I eligible for?

  • Maximum amount of loan offered by Aryarth Housing Finance Ltd is Rs. 25 lakhs to individuals as Home Loan and up to Rs. 2.5 crore to developers under Receivable finance. As a prospective customer of Aryarth Housing Finance Ltd. you would have to have valid legal title to the property being financed and all due diligence regarding the same will be done for ensuring the same.
  • Your eligibility for receiving the loan is determined after an appraisal of your documents and a personal discussion. We take into consideration factors like your income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation, savings history, financial discipline etc. while deciding on your loan amount eligibility. Loan eligibility will also be dependent on the value of the property that you have selected.

Can I enhance my loan amount eligibility by adding additional co – applicants?

Yes. It is possible to enhance your loan amount eligibility by adding a co – applicant to the loan in which case the co -applicant’s source of income shall also be considered while deciding on the total loan eligibility.

I am an owner of a grocery store in Kalyan and I do not have documents that can directly establish my income source. Can I still avail a housing loan from Aryarth Housing Finance Ltd?

Yes, you can avail home loan from Aryarth Housing Finance Ltd. as our focus as an organization is to be a catalyst for individuals in their home ownership dream. We lay emphasis and high reliance on credit appraisal basis personal discussions, residence visits and workplace verifications etc. Fragmented income documentation sources can be considered for deciding on your loan eligibility.

What are the loan tenure options?

The table below provides details of the loan tenure options available for our various product offerings:

Product offering NonMinimum Tenure Maximum Tenure
Home Loan 12 months 240 months
Non Home Loan 12 months 180 months
Structured Lending and Receivable Finance 12 months 60 months

What is the security required for the loan?

While the property against which the loan is given is called the prime security, sometimes Aryarth Housing Finance Ltd. may ask for additional collateral security in the form of another property, insurance policies, guarantor or such other securities as may be acceptable to the company. All due diligence in respect of the security offered shall be adhered to as per the company’s risk management policy.

What are the fees and other charges payable?

List of Customer Service Charges pertaining to the Loan are as follows: –

Processing Charges 2% + GST (on the sanctioned value) to be collected before disbursement or deducted from first disbursement.
Non-postal stamp / stamp duty As applicable in each state/UT
CERSAI Charges Rs.250/- + GST for Loans up to Rs. 5.00 lacs
Rs.500/- + GST for Loans above Rs. 5.00 lacs
Prepayment Charges As per NHB guidelines applicable from time to time
Cheque/ ECS/ACH bounce charges (Per instrument/ Transaction) Rs.500 + GST
Overdue / Late Payment Interest 2% Per month on overdue amount
Conversion Charges As applicable from time to time
Non-encumbrance certificate As per actuals
Duplicate No Dues Certificate/Statement Rs. 500/- + GST
Copy of property Papers Rs. 500/- + GST
Document Retrieval Charges Rs. 500/- + GST
Cancellation Charges / Fees 1. Within 7 days of disbursement only Rs 1000/- + GST (cancellation Charges).
2. If request received after 7 days of the Disbursement-: Rs 1000/- + GST (cancellation Charges) & PEMI till the cancellation request.
Duplicate Annual Account Statement, Provisional Certificate Rs. 500/- + GST
Duplicate Annual Account Statement, Provisional Certificate Rs. 500/- + GST
Loan Prepayment / Closure (fully) statement / SOA/ repayment Schedule Charges Rs. 500/- + GST
Each Personal Visit to customer’s Place for collection of Dues Rs. 500/- per visit + GST
Disbursement Cheque Cancelation & Reissuance Rs. 1000/- + GST (cancellation charges) & PEMI will be charged
Disbursement Cancellation Charges If request received within 7 days of the disbursement: Only Rs. 1000/- + GST
If request received after 7 days of the disbursement: Only Rs. 1000/- + GST (cancellation Charges) & PEMI till the cancellation request
Cheque Replacement/ Swapping charges Rs. 500 + GST per month after 30 days from loan closure
Demand Draft / pay order charges Rs.150 per lakh or actual bank charges, whichever is higher
Recovery charges (Legal / repossession & incidental) As per actual
Foreclosure statement charges Rs. 500 + GST

What is the interest rate charged?

Refer table below for list of Products, ROI and Processing Fee

Product Interest Rate Processing Fee
Home Loan 12%-15% 2%+ GST
Non-Home Loan 16-18% 2%+ GST
Receivable Finance for Affordable Housing Projects 17-19% 2%+ GST

*Interest rate mentioned above is subject to change at sole discretion of Aryarth Housing Finance Ltd and exact interest rate charged will be mentioned in the sanctioned letter and loan agreement

What are the documents required for availing the loan?

When applying for a loan, we require your KYCs (Identity proof, residence proof, age proof and copy of bank pass book / bank statement) along with an application form duly signed by you. However, depending on the nature of the final product, we may ask you to furnish other income & property documents.

What is an EMI?

EMI is Equated Monthly Instalment that one has to repay to the lender, against the Home Loan availed, on monthly basis in order completely pay-back the loan. This EMI comprises both principal and interest. You can check your EMI using our EMI calculator

What are the tax benefits on home loan?

Yes. Resident Indians are eligible for certain tax benefits on the principal and interest components of a housing loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our customer service executive about the tax benefits which you could avail on your loan.

What are the benefits available under the Pradhan Mantri Awas Yojana (PMAY) while availing home loan?

Interest subsidy is available under the Pradhan Mantri Awas Yojana (PMAY) for Economically Weaker Section (EWS), Low Income Group (LIG) & Middle Income Group (MIG) customers as below:

Customer Segment Eligibility Criteria Subsidy Interest subsidy
EWS Annual Household income of INR 3 lacs
Area of property: 30 Sq. Mt Carpet Area
Subsidy will be available for loan amounts upto Rs.6 lacs 6.5% p.a.
LIG Annual Household income of INR 3 Lacs to INR 6 lacs
Area of property: 60 Sq. Mt Carpet Area
Subsidy will be available for loan amounts upto Rs.6 lacs 6.5% p.a.
MIG (1) Annual Household income of INR 6 lacs to INR 12 lacs
Area of property: 90 Sq. Mt Carpet Area
Subsidy will be available for loan amounts upto Rs.9 lacs 4% p.a.
MIG (2) Annual Household income of INR 12 lacs to INR 18 lacs
Area of property: 110 Sq. Mt Carpet Area
Subsidy will be available for loan amounts upto Rs.9 lacSubsidy will be available for loan amounts upto Rs.12 lacs 3% p.a.

How fast will my loan be disbursed?

At Aryarth Housing Finance Ltd. our policy is “customer first”. We ensure that we will submit our in-principle approval within 7 days of your loan application provided all supporting information / documents are provided timely.

How do I repay the loan?

We offer various modes for repayment of the loan. You may issue standing instructions to your banker to pay the instalments through ECS (Electronic Clearing System), opt for direct deduction of monthly instalments by your employer or issue post-dated cheques from your main bank account (where salary and / or business income transactions are routed).

Whom Should I Contact in case of any problem or if I have any query?

In case of any problem / query write to us at customerservice@aryarthhfl.com