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Money Saver Home Loan

Home Loans with up to 12 EMIs* waived off

Are you a customer who has a good payment track record with us? Do you ensure to pay your EMIs on time and with regularity? Then our Money Saver Home Loan might just be the right fit for you*.

You can potentially save 3 EMIs* each after the 3rd, 6th, 9th and 12th year and what’s more, this is at no extra cost.

Speak to us today to know more.

*Terms & Conditions apply.

Key Features of Money Saver Home Loan

Eligibility

  • Eligibility Conditions
    • The exercise to qualify a loan for waiver is solely at the discretion of Piramal Capital & Housing Finance Ltd (PCHFL).
    • Minimum loan tenure at sanction to be 20 years and on commencement of EMI on fully disbursed loan
    • Loan should never be delinquent i.e. never in 30+ DPD, not more than 2 bounces in a year and no overdue charges or penal interest to be payable
    • If customer makes a partial prepayment or full prepayment, he will become ineligible for any future waivers.
    • The Money Saver Home Loan cannot be bundled with any other offer or product variant offered by PCHFL
    • Risk score as determined by PCHFL

    *Terms & Conditions apply. The other terms and conditions of the sanction of loan including MITC, shall apply. Customer's grievances & redressal thereupon relating to operation of the product shall be dealt by the PCHFL Grievance Redressal Mechanism.

  • Salaried

    Age

    • Minimum Age- Minimum Age- 21 years
    • Maximum Age- Income contributor (Govt employee) - 70 yrs (if pension considered)
      Income contributor (Others) - 62 yrs (or restricted to retirement age)

    Employment Type

    Working in a
    • Govt. institution
    • Public Sector Undertaking
    • Private Sector Companies such as Limited Companies / Private Limited companies
    • MNC
    • Partnership firm / LLP
    • Proprietorship concern (Individual / HUF)
    • Institutions run by Trust / NGO / Society / others

    Documents needed

    • Income Tax Returns for the latest 2 years
    • KYC Documents
    • Form 16
    • Bank statements for the last 6 months and salary slips
    • Documentation pertaining to the property offered as collateral.
  • Self-employed

    Age

    Minimum Age- 23 years

    Maximum Age- 70 years

    Employment Type

    • Self Employed Professionals: Qualified doctor (MBBS/MD/MS), CA and Architect.
    • Self Employed Non-Professionals, Business Owners, Proprietorship, Partners of Partnership Firm and Promoter Director of closely held private and public limited companies.

    However, Director of listed Public companies will be treated as Salaried

    Documents needed

    • Last 2 Years ITR With Compitation / CA Audited Financials Where Ever Applicable
    • KYC Documents
    • Form 16
    • Bank statements for the last 6 months.
    • Documentation pertaining to the property offered as collateral.

Interest Rate

Interest Rate
Customer Type Rates
Salaried / Self Employed Interest Rates starting from 9.75%* p.a
Fees & Charges
Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate
Schedule of Fees & Other Charges Details
Processing Fees
  • Home Loan: Processing Fees up to 3 % of Loan amount + applicable taxes (payable before disbursement of Loan)
  • On cancellation or withdrawal or rejection of loan application (prior to handing over of loan cheque) minimum of Rs. 5000/- + applicable taxes or the initial processing fee, whichever is lower, will be held back
Part Payment/Pre-closure charges
  • Home Loan (for the purpose other than business) availed by Individual/s at Floating Rate of Interest: No charges.
  • Home Loan availed by Individual/s at Fixed Rate of interest: 2% of principal amount of Loan being prepaid+ applicable taxes. No prepayment charges shall be payable for partial or full payments made from own sources. The expression “own sources” for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The Borrower will be required to submit such documents that the Lender may deem feet and proper to ascertain the source of the fund.
  • Home Loan availed by Non-individual as a borrower at a Floating or Fixed Rate of Interest: 2% of principal amount of Loan being prepaid+ applicable taxes.
Loan repayment instrument dishonour charges Rs. 500/- + applicable taxes
CERSAI charges Rs. 500/- + applicable taxes
Loan Pre-closure Statement Rs. 1000/- + applicable taxes
List of documents deposited with the Lender Rs. 500/- + applicable taxes
Loan Repayment Schedule Rs. 500/- + applicable taxes
Change of Loan repayment mode Rs. 500/- + applicable taxes
"Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor" Rs. 5000/- + applicable taxes
No Due Certificate issuance charges 1st time free; subsequently Rs. 500/- + applicable taxes
Statement of Account Free once a year; subsequently Rs. 500 + applicable taxes
Photocopy of documents Rs. 1000/- + applicable taxes
Retrieval of original property documents Rs. 2000 + applicable taxes
Additional Charges 2% p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes
For detailed fees & charges and other Terms & Conditions click here

Documents

  • Salaried

    Applcation Form

    Application form with a recent photograph

    Proof of Identity

    • Passport
    • Driving License
    • Aadhaar
    • Voter's Identity Card
    • Job card issued by NREGA
    • Letter issued by the National Population Register containing details of photo / name

    Proof of Income

    • Lasr 3 Months Dalary Slips
    • 2 YEARS FORM 16.
    • 6 MONTHS BANK STATEMENT WITH SALARY CREDIT
    • Bank statements for the last 6 months and salary slips
    • Documentation pertaining to the property offered as collateral.

    Proof of Residence

    • Passport
    • Driving License
    • Aadhaar Card
    • Voter's Identity Card
    • Utility bills like Telephone Bill /Electricity Bill etc.
    • Job card issued by NREGA
    • Letter issued by the National Population Register containing details of photo / name and address.

    Co-applicant

    Co-applicant is mandatory. Additionally, WOMAN co-applicant is mandatory in certain cases

    • spouse or any first blood relative like parents, siblings, children who have attained age of maturity (s.t. income-ownership grid)
    • All co-owners of property should be on loan structure
    • Friends cannot be co‐applicants (allowed ony if they are coming in the capacity of partners/Directors/Shareholder)
  • Self-employed

    Applcation Form

    Application form with a recent photograph

    Proof of Identity

    • Passport
    • Driving License
    • Aadhaar
    • Voter's Identity Card

    Proof of Income

    • Last 2 YEARS ITR With Computation.
    • CA Audited Financials Where Ever Applicable
    • 6 Months Primary Bank Statement

    Proof of Residence

    • Passport
    • Driving License
    • Aadhaar Card
    • Voter's Identity Card
    • Utility bills like Telephone Bill /Electricity Bill etc.

    Co-applicant

    Co-applicant is mandatory. Additionally, WOMAN co-applicant is mandatory in certain cases

    • Co‐applicant can be spouse or any first blood relative like parents, siblings, children who have attained age of maturity (s.t. income-ownership grid)
    • All co-owners of property should be on loan structure
    • Friends cannot be co‐applicants (allowed ony if they are coming in the capacity of partners/Directors/Shareholder)

From homeowner’s heart