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Home loans Home loans

Home Loans

Finally decided to buy your dream home? Make the single most important purchase in your life one of the smoothest experiences with home loans from Piramal.

Buying a home is a big decision which requires a lot of research and planning. From finding the best interest rate on housing loans to checking your eligibility criteria, our consultants help you along every step of the process.

With Piramal Housing Finance, you have access to professional counsel to select the right property and to calculate the perfect home loan EMI and tenure.

Get home loans at your convenience, buy a house or build one - get custom solutions that work best for you.

Benefits of taking home loans with Piramal:

  • Enjoy quick processing of your loan application.
  • Purchase a bigger house or restructure your finances to get more liquidity each month with a higher eligibility option.
  • No need to wait in long queues. Just call your dedicated relationship manager.

Apply Now

Super Loan

GET READY FOR YOUR NEW HOME!

  • Key features
  • additional benefits
  • document required
  • approved-projects
PURPOSE
    WE OFFER LOANS FOR:
  • Direct purchase from developers for both under construction and ready property
  • Purchase of Resale property
MAXIMUM LOAN
    We offer to fund up to 90% of the cost of the property (including the cost of the land). This is subject to the regulatory caps and your repayment capacity.
MAXIMUM TERM
    Up to 30 years subject to your retirement age.
APPLICANT AND CO-APPLICANT TO THE LOAN
    Home Loans can be applied for either individually or jointly.
ADJUSTABLE INTEREST RATE HOME LOAN
Rate of interest is linked to Retail Prime Lending Rate (RPLR) and is subject to vary with changes in RPLR.
ELIGIBILITY CRITERION
    Customer Segment
  • Salaried Individuals (Both resident as well as Non Resident Indians)
  • Self Employed Individuals (Customized schemes for doctors, CAs and other professionals)
  • Self Employed Non Individuals
INTEREST RATES
Interest Rates starting from 9%* p.a
Retail Prime Lending Rate (RPLR) – 16.05% p.a (effective May 5, 2019)
TAX BENEFITS
The income tax authorities offer certain benefits and exemptions to individuals who have taken a housing loan from specified financial institutions.
  • Section 24 of the Income Tax Act
    Interest paid on capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction. Rs 2,00,000 is the maximum amount eligible for deduction in the case of self-occupied property and for rented out property there is no limit of amount of deduction.
  • Section 80C of the Income Tax Act
    You can get a maximum Rs.1,50,000 deduction from the Income, on repayment of principal during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount.
INTEREST STARTS ON THE DAY YOU ACCEPT THE CHEQUE AND NOT WHEN WE PRINT IT.
DEDICATED RELATIONSHIP MANAGER
Get expert advice and support at every step of your home-buying experience. Don't worry or stress about waiting in long queues online or offline - just call your dedicated relationship manager!
ADVISORY SERVICES FOR PROPERTY SELECTION.
Owning your own home is one of life’s greatest decisions and investments. Introducing "Piramal Verified", our in-house robust framework to ensure that both, your home and home loan come from a trusted source.

Know More
INSURANCE PRODUCTS
LIFE AND HOME INSURANCE
Investing in real estate has long been the most lucrative option of choice for Indians. However, the continually increasing prices and the associated high financial exposure makes buying real estate an expensive affair, and hence, most individuals opt for a home loan. A home loan EMI forms a significant chunk of one’s financial plans, and in any unfortunate event to the borrower or the property, the financials of the borrower may be considerably affected impacting his or her ability to re-pay the loan.

To ensure that all our customers are secure and have a sense of comfort during the tenure of re-payment of the loan, Piramal Housing Finance, recommends to each of its esteemed customers to get their loan repayments and properties insured. Piramal Housing is extremely pleased to tie up with HDFC Life and Max Life to provide for life insurance cover for its customers and HDFC Ergo to insure the property financed. Under these tie-ups customers can make their insurance premium payments hassle free and seamless. Piramal Housing , via its partners, is wholly committed to provide best-in-class products and services to all its customers.
FREQUENTLY ASKED QUESTIONS

What is a home loan?

A home loan is the amount of money borrowed from a financial institution to buy, construct, extend, or renovate a house. The loan is paid with interest (fixed or floating rates) over a fixed tenure through Equated Monthly Instalments (EMIs). Lenders can finance up to 90% of the property value if you pay the rest 10% as a down payment towards your home loans.

What are the tax benefits of taking a home loan?

You can claim up to INR 1.5 lakh on the principal amount, registration and stamp duty fees of your housing loans by claiming it as tax deductions under Section 80C of the Income Tax Act. Claim deductions for the interest payments under Section 24. For joint home loans, each borrower can get up to 1.5 lakh each as income tax returns, provided they are co-owners of the loaned property. Use Piramal’s Tax Calculator to see have more clarity on your housing finance.

What is the eligibility for a home loan?

Financial institutions have established certain criteria to evaluate your repayment capability to approve your housing loans. Different lenders have different criteria, some of the general criteria used by banks to check your home loan eligibility include your age, employment status, employment stability, and credit score.

Plan your housing finance efficiently by using a home loan eligibility calculator to see the loan amount you can apply for.

What is the tenure for home loans?

Home loan tenure usually ranges from a minimum of 5 years to a maximum of 30 years. The tenure is judged based on your eligibility criteria. You can either opt for a short home loan tenure with low interest and high EMI payments or a long tenure with high interest and low EMIs based on your comfort.

How to apply for home loans?

    This is the general process to get a housing loan followed by financial institutes in India.
  • A loan application process where you submit identity proofs, personal information and property details to create a new account.
  • Paying the processing fees which lenders need to create your account.
  • Verification of documents includes inspection and evaluation of documents.
  • Approval of documents where you can be endorsed or rejected for the loan.
  • Processing the offer letter with a quote.
  • A legal check of the submitted documents
  • Site check and property verification to assess property value.
  • Finalizing the deal with signatures, and sealed documents.

ELIGIBLE CUSTOMER SEGMENT
  • Salaried and Self Employed Individuals.
  • Proprietorship Firms
  • Private Limited Companies / Closely held limited Companies
  • Partnership firms / LLPs
LOAN AMOUNT
  • From 20 Lakhs to 10 Crores
INCOME CLUBBING
  • Income of close family members ( Spouse / Parent / Children ) can be clubbed.
  • Incomes of siblings can be clubbed, subject to conditions, if they are co-owners in property.
LOAN TO MARKET VALUE
Loan amountupto 30 Lakhsupto 30 -75 LakhsMore than 75 Lakhs
FundingUpto 90%80%75%

The above is subject to market value of the property and repayment capacity of the customer, as assessed by PCHF

PHOTO IDENTITY PROOF
    Any one of the below mentioned document (For individuals must have photo for individuals)
  • Passport
  • PAN
  • Aadhar Card
  • Driving License
  • Voter ID Card
CURRENT RESIDENCE ADDRESS PROOF
    Any one of the below mentioned document:
  • Passport
  • Ration Card
  • Aadhar Card
  • Driving License
  • Voter ID Card
AGE / DOB PROOF
    Any one of the below mentioned document:
  • Passport
  • Ration Card
  • Driving License
  • Birth Certificate (issued by Government body)
  • School leaving certificate (10th)
EMPLOYMENT PROOF
    Salaried customer:
  • ID card with date of Joining / appointment letter.
  • Self Employed Professional and Non professional:
  • Shops and establishment certificate
  • Trade license certificate
  • SSI Registration Certificate
  • Sales Tax / VAT /GST Registration certificate
  • Self Employed Professionals:
  • Proof of professional qualification is required in addition to above mentioned document if customer is applying in individual capacity
INCOME DOCUMENTS
    Salaried customers:
  • Payslip for last 3 months.
  • Latest Form 16 or ITR
  • Performance Appraisal letter / Bonus letter - as proof of bonus ( if applicable)
  • Self Employed customers with income proof:
  • ITRs for last 2 years with computation of income, P&L, Balance sheet , Schedules and auditors report ( If applicable)
  • Financials should be audited if mandatory as per regulations or annual turnover is more than 2 Crores, else these need to be CA certified.

Testimonials

We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.

Nirmal Dand,
Financial Planner
nirmal-dand