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Aditya Birla Finance Home Loan - Frequently Asked Questions

Why should I opt for loan from ABHFL when there are many banks offering the same?

ABHFL provides special features such as:

  • Easy online application process, quick approvals and instant eligibility
  • Door step services with simplified documentation
  • Choose between simple EMIs or structured repayments
  • Attractive balance transfer option available to transfer your existing loan to us without any hassles
  • Nil pre-payment charges for floating rate home loan given to individuals

These features make the Home Loan from ABHFL much more attractive as against the other lenders.

How will ABHFL decide my home loan eligibility?

It is decided based on your repayment capacity & up to 80% of the property value. Your repayment capacity depends on the following factors:

  • Income of all applicants.
  • Age of the primary applicant.
  • Other income, existing EMIs,
  • Stability and continuity of the primary applicant's occupation.

Can I also avail of a loan for home improvements or a home extension?

Yes, you can avail of a loan for any of the following purposes:

  • Purchase of a home
  • Construction of a home
  • Home repairs
  • Home improvements
  • Home extension
  • Plot purchase + home construction

Is there a lower limit on the loan amount I can apply for?

Yes. The minimum amount of loan you can apply for is as follows:

  • Mumbai and Delhi, the minimum loan amount is Rs. 25 lakhs
  • other cities, the minimum loan amount is Rs. 15 lakhs

The minimum amount is subject to changes as per internal policies and guidelines of ABHFL.

You will need to submit the following self-attested documents:



Self Employed / Professional / Partnership / Company

Proof of Identity and Address

Passport or Voter's ID card or Driving License or Job Card issued by NREGA or Adhaar Card or Registration certificate or PAN card (PAN Card only as identity proof) or any other document as acceptable to ABHFL

Proof of Income

Latest 3 months salary slip showing all deductions & Form 16

IT Returns or financial documents for last 2 years and computation of income certified by a CA for last 2 years

Bank statement where salary or income is credited

Latest 6 months

Latest 6 months

Proof Other Income

Rental receipts or documents showing receipt of income

Property Documents

Copy of Title documents and approved sanction plan

ABHFL may request you for additional documents for processing your loan.

When do I have to submit the documents?

You will have to submit the documents along with your application form.

What security will I have to provide?

ABHFL requires a mortgage of the property for which the loan is being taken. The title of the property should be clear & marketable & free from any encumbrance as certified from ABHFL's approved advocate. This is done to safeguard your interests as well as ABHFL's interests. Along with title search report you will also be required to submit a valuation report. Additional security may be required if the aforesaid criteria are not met.

What are the tenure options?

The tenure of your home loan ranges from 5 to 30 years. The term, however, does not extend beyond theretirement age or 60 years whichever is earlier.

Is it mandatory to have a co-applicant when applying for a home loan? If yes, who can be a co-applicant for my home loan?

Yes, it is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the home loan. If you are the sole owner of the property, any member of your immediate family can be the co-applicant.

Can I apply jointly with my spouse / close family? Will both our incomes be taken into consideration for calculating the loan amount?

Yes, your incomes can be clubbed for the purpose of calculation of the loan amount. You will have to provide proofs of the same to be considered for calculation of the loan amount.

Can I get approval for home loan without finalizing on my property?

Yes, based on your income eligibility, we can offer you PNI (Property Not Identified) Sanction Letter for your home loan. You can identify the property you need to buy based on this document. The final sanction of your home loan will be based on the assessment of the identified property. However, if the property is under construction, kindly speak to your assigned sales manager for acceptability.

How long is the PNI (Property Not Identified) Sanction Letter valid?

The approval will be valid for 90 days from the date of sanction. However, if the loan is not drawn within 30 days of issuance of the sanction letter, a fresh sanction letter needs to be obtained.

How long is the PNI (Property Not Identified) Sanction Letter valid?

The approval will be valid for 90 days from the date of sanction. However, if the loan is not drawn within 30 days of issuance of the sanction letter, a fresh sanction letter needs to be obtained.

How is the interest calculated on my home loan?

The interest is calculated on monthly reducing balance at the prevailing rate of interest (ROI) of your loan. ABHFL offers floating interest rates linked to our internal floating reference rate (referred to as ABHFL Reference Rate - ARR).

Does the ABHFL Reference Rate (ARR) change?

ARR is the benchmark long term reference rate. This is determined by the market conditions and the cost of funds for the company. It changes depending on various external factors, economic conditions and business specific changes.

How often do interest rates change?

As per our re-pricing policy, interest rates are reviewed from time-to-time and a decision is taken whether to change the interest rates or not.

I already have an existing home loan. Can I transfer the same to ABHFL?

Yes, you can transfer your current outstanding home loan to ABHFL. Please select "Refinance" option while filling up the form. You can also avail an additional Top-Up loan.

What is a Top-Up loan?

Due to increase in income, decrease in existing outstandings or additional anticipated expenses, if you wish to increase the loan amount and take a cash-out, you can do so by applying for a Top-up loan.

Can I get Top-Up on a re-financed loan?

You can get an additional loan while transferring it to ABHFL. The eligible loan amount will be based on home loan eligibility criteria as mentioned in Question 3 above.

Do I need to pay a fee to apply for home loan?

A non-refundable processing fee may be charged for every home loan application. The processing fee to avail of home loan is up to 1% of the loan amount plus service tax as applicable.

What is an EMI?

You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take the full disbursement.

What is Pre-EMI interest?

Pre-EMI interest is the interest on the loan amount disbursed. It is payable every month from the date of each disbursement until the commencement of the EMI payments.

What are the different modes of repayment available?

You can make repayments through NACH (National Automated Clearing House) through easy installments

Do I get a tax benefit on my home loan?

Yes, resident Indians are eligible for tax benefits on both the principal and the interest of a home loan under the Income Tax Act. Please consult your tax advisor for details.

Can I repay my loan ahead of schedule?

Yes, you can repay your loan ahead of schedule. There are no charges applicable on complete loan closure for Floating Rate Home Loan.

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