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1800-270-7000
Aditya Birla Housing Finance Limited
ABC Solutions
About the Loan
About ABHFL Prime Home Loan
ABHFL Prime Home Loan is designed to make homeownership a hassle-free process. Our loan offers flexible solutions to meet your needs and elevate your home ownership experience.
- Purchase of ready-built or under-construction residential property
- Self-construction of a residential unit on owned land
- Home improvement, renovation, or extension
- Balance transfer of existing home loans from other financial institutions
Why Choose ABHFL Prime Home Loan?
Key Benefits:
- Instant Digital Onboarding: Seamless online application process with quick approvals.
- Flexible Repayment Tenure: Customize your loan tenure up to 30 years to suit your financial goals.
- High Loan Amounts: Finance substantial property purchases with loans up to ₹10 crore.
- Affordable EMIs: Structured repayment plans to ensure manageable monthly installments.
- Balance Transfer Facility: Transfer your existing home loan to ABHFL for better terms and additional top-up funds.
Additional Advantages:
- Minimal Documentation: Streamlined process requiring basic documents for verification.
- Transparent Processing: No hidden charges, ensuring a trustworthy lending experience.
- Dedicated Support: Professional guidance throughout the loan process to assist you at every step.
Why Choose ABHFL Prime Home Loan?
Ensuring you meet the eligibility criteria helps in a smoother application process.
General Criteria:
- Nationality: Indian citizens and NRIs
- Age: 21 to 60 years for salaried individuals; 25 to 65 years for self-employed individuals
- Income: Minimum annual income of ₹3 lakh
- Credit Score: A good credit history with a score of 700 or above is preferred
Specific Criteria::
Criteria
Salaried Individuals
Self-Employed Individuals
Employment
Minimum 2 years of continuous service
Minimum 3 years in current business/profession
Income Proof
Latest 3 months' salary slips and Form 16
Last 3 years' Income Tax Returns and financial statements
Property
Property should be within approved locations
Property should be within approved locations
Note: Meeting these criteria does not guarantee loan approval. Final eligibility is determined based on various factors, including credit history and property evaluation.
Step-by-Step Guide: How to Apply for a Home Loan?
Embarking on your home loan journey with ABHFL is straightforward:
1. Check Eligibility:
- Use our online eligibility calculator to assess your loan qualification.
2. Prepare Documentation:
- Gather necessary documents such as identity proof, address proof, income proof, and property-related documents.
3. Application Submission:
- Fill out the online application form with accurate personal and financial details.
4. Document Verification:
- Our team will review your submitted documents and may request additional information if necessary.
5. Loan Offer & Acceptance:
- Upon successful verification, receive a loan offer detailing the sanctioned amount, interest rate, and terms. Review and accept the offer.
6. Property Evaluation:
- An assessment of the property to be financed will be conducted to ensure it meets our lending criteria.
7. Loan Disbursement:
- Post verification and property evaluation, the loan amount will be disbursed as per the agreed terms.
Estimated Timeline: The entire process typically takes between 5 to 10 working days, subject to prompt submission of required documents and satisfactory property evaluation.
Documents Required for Home Loan
Having the right documents ready ensures a seamless approval process.
Personal Documents:
- Identity Proof – Aadhaar Card, PAN Card, Passport, Voter ID
- Address Proof – Utility Bills (not older than 3 months), Passport, Aadhaar, Rent Agreement
- Passport-size Photographs
Financial Documents:
For Salaried Individuals:
- Last 3 months' salary slips
- Latest Form 16 or Income Tax Returns
- Bank statements for the past 6 months
For Self-Employed Individuals:
- Income Tax Returns for the last 3 years
- Audited financial statements (Profit & Loss Statement, Balance Sheet)
- Business Registration Certificate (if applicable)
- Bank statements for the past 12 months
Property Documents:
- Sale Agreement or Allotment Letter
- Title Deeds of the property
- Approved Building Plan (if applicable)
- Encumbrance Certificate
- No Objection Certificate (NOC) from builder/society (if required)
General Home Loan Questions
A home loan is a secured loan offered by financial institutions to help individuals buy, construct, renovate, or extend a residential property. The loan amount is repaid in Equated Monthly Installments (EMIs) over a fixed tenure
ABHFL offers various home loan options, including:
- Home Purchase Loan – For buying a ready-built or under-construction house/apartment.
- Home Construction Loan – For building a house on owned land.
- Home Extension Loan – For adding extra rooms or expanding the property.
- Home Renovation Loan – For upgrading interiors, plumbing, or electrical work.
- Balance Transfer Loan – For transferring an existing home loan from another lender to ABHFL.
- Top-up Loan – Additional loan over an existing home loan for personal/home-related expenses.
Yes, you can apply for a joint home loan with your spouse, parents, children, or siblings. A co-applicant enhances loan eligibility.
The tenure can go up to 30 years, depending on the applicant’s eligibility and repayment capacity.
Your eligibility is based on:
- Income & Employment Type – Higher income means a higher loan amount.
- Credit Score – A score above 700+ improves loan eligibility.
- Age – Younger applicants get a longer tenure.
- Existing Liabilities – If you have existing loans, your loan amount may be affected.
- Property Value & LTV Ratio – The Loan-to-Value (LTV) ratio determines the maximum amount you can borrow.
You can apply for a loan starting from ₹5 lakh to ₹10 crore, depending on your income and property value.
Yes, you may still be eligible. However, a lower credit score may result in a higher interest rate or additional requirements like a co-applicant or guarantor.
Yes. Employees of reputed organizations, government employees, and PSU employees may get preferential loan terms.
- Fixed Rate: Your EMI remains constant throughout the loan tenure.
- Floating Rate: The interest rate changes based on market conditions, affecting your EMI.
Yes, ABHFL allows you to switch between fixed and floating rates, subject to certain charges.
If you have a floating rate loan, your EMI or loan tenure may change. If you have a fixed rate loan, your EMI remains unchanged.
Yes. ABHFL allows prepayment or foreclosure of the loan. No charges apply for prepayments on floating rate loans for individuals. Fixed-rate loans may have minimal charges.
Your EMI consists of:
- Principal Amount – The actual loan amount you borrowed.
- Interest Amount – The cost of borrowing.
The processing fee is up to 1% of the loan amount, with a minimum of ₹10,000.
- Pre-approval: 24-48 hours
- Final approval & disbursement: 5-10 working days, depending on document verification and property evaluation.
For Salaried Individuals:
- Aadhaar, PAN, or Voter ID for identity proof
- Address proof (utility bill, Aadhaar, passport)
- Latest 3 months’ salary slips
- Form 16 or IT Returns
- 6 months' bank statements
- Aadhaar, PAN, or Voter ID for identity proof
- Business registration proof
- Last 3 years’ IT returns & audited financial statements
- 12 months' bank statements
- Sale Agreement or Title Deed
- Approved Building Plan & NOC from Society/Builder
- Encumbrance Certificate
A balance transfer allows you to shift your existing home loan to ABHFL for a lower interest rate and better repayment terms.
Yes, you can avail of a Top-Up Loan, which provides extra funds over your home loan for any personal/home-related expenses.
- Lower interest rates
- Reduced EMIs & flexible repayment
- No hidden charges
- Option to take a top-up loan
If you miss an EMI:
- Late payment fees will be charged.
- Your credit score may decrease.
- Multiple missed payments may lead to legal action.
Yes, you can request an EMI date change. Charges may apply.
- Request loan restructuring for lower EMIs.
- Opt for a balance transfer with better terms.
- Use the top-up loan to manage finances.
- Section 80C: Deduction of up to ₹1.5 lakh on the principal amount.
- Section 24(b): Deduction of up to ₹2 lakh on interest paid.
- Section 80EE: Additional deduction of ₹50,000 for first-time homebuyers.
Yes, both applicants can claim tax benefits in proportion to their ownership share, provided they are co-borrowers.
- For ready properties: Lump sum payment to the seller/builder.
- For under-construction homes: Disbursed in stages based on construction progress.
No. Home loans are available only for residential properties.
Yes, we provide home loans for Tier-1, Tier-2, and Tier-3 cities, including rural and semi-urban areas.
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