Aadhar Housing Finance Ltd Home Loan Eligibility Criteria
| Eligibility Criteria |
Salaried Individuals |
Self-Employed Individuals |
Additional Benefits for Women |
| Age |
18 to 60 years at loan maturity |
18 to 70 years at loan maturity |
Women applicants may be eligible for lower interest rates, enhancing affordability. |
| Income |
Minimum monthly salary of ₹10,000 |
Minimum annual income as per company policy |
Women may benefit from reduced stamp duty charges in certain states, leading to cost savings.
|
| Employment Stability |
Minimum 3 years in current employment or 5 years total work experience |
Minimum 3 years in current business |
Collaboration with organizations like the Asian Development Bank to provide housing loans specifically for low-income women, improving access to financing. |
| Nationality |
Indian citizens |
Indian citizens |
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| Credit History |
Satisfactory credit score as per company norms |
Satisfactory credit score as per company norms |
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| Property Location |
Property should be within approved locations as per company policy |
Property should be within approved locations as per company policy |
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Aadhar Housing Finance Ltd Home Loan Schemes
Home Loan for Salaried Employees:Up to ₹1 crore with competitive interest rates starting at 11.75% and tenures up to 30 years.
Home Loan for Self-Employed: Customized loans up to ₹1 crore with flexible terms for professionals and business owners.
Plot Purchase and Construction Loan: Finance for land purchase and home construction with tenures up to 30 years.
Home Improvement Loan: Renovation loans up to ₹1 crore for property enhancements like painting, roofing, and plumbing.
Home Extension Loan: Funds for adding rooms or floors, catering to growing family needs.
Balance Transfer and Top-Up Loan: Transfer existing loans for better rates and avail extra funds for personal needs.
Pradhan Mantri Awas Yojana (PMAY): Subsidies up to 6.5% for eligible first-time homebuyers under the government’s affordable housing initiative.
Documents required for Aadhar Housing Finance Ltd Home Loan
To apply for a home loan with Aadhar Housing Finance Ltd, you will need to provide specific documents for verification. The requirements vary between salaried and self-employed individuals. Below is a list:
| Document Type Required Documents |
|
Identity Proof
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PAN Card, Aadhaar Card, Voter ID, Passport, Driving License, or Government-issued ID with a photograph.
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Address Proof
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Utility Bills (Electricity, Water, Gas), Aadhaar Card, Voter ID, Passport, Driving License, Rent Agreement.
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Income Proof (Salaried)
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Latest 3 months' salary slips, Form 16, Income Tax Returns (ITR), and 6 months' bank statements.
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Income Proof (Self-Employed)
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3 years' ITR, GST registration, Profit & Loss statement, Balance Sheet, business address proof.
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Property Documents
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Sale Deed, Title Documents, Approved Building Plan, Encumbrance Certificate, and NOC from authorities.
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Additional Documents
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Recent passport-size photos, processing fee cheque, loan statements (if applicable).
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Tax Benefits on Aadhar Housing Finance Ltd Home Loan
Principal Repayment (Section 80C) : Deduction up to ₹1.5 lakh annually for the EMI principal portion.
Interest Payment (Section 24b) : Deduction up to ₹2 lakh annually for self-occupied property; no limit for let-out property.
First-Time Buyers (Section 80EE) : Additional deduction up to ₹50,000 for loans sanctioned in 2016-17.
Affordable Housing (Section 80EEA) : Extra deduction up to ₹1.5 lakh for properties ≤ ₹45 lakh.
Stamp Duty & Registration Charges (Section 80C) : Deductible within the ₹1.5 lakh Section 80C limit.
Joint Loans : Co-owners can individually claim benefits under Sections 80C and 24b, doubling tax savings.