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Shubham home loans don’t require income proof or ITR. Loan on household income and EMI can be paid as per your repayment capability. Based on eligibility, you can get CLSS subsidy up to Rs. 2.18 lakhs. Apply now through CreditMantri!
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Shubham Housing Development Finance Company was established in 2011 and focuses on providing formal credit to individuals who may be part of the informal economy. It provides individuals from lower income groups access to the formal credit system in India. It is based in Gurgaon, Haryana, and has more than 80 branches across the country.
Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.
Shubham offers a wide range of services in the home loan segment. It is the most preferred bank by all kinds of people for any financial service. Packed with exclusive benefits, Shubham Home Loans are tailor made catering to the needs of various customers.
Objective: Shubham home loan aims to help millions of people achieve their dream of owning a house.
Loan Amount: Up to INR 40 lakhs
Rate of Interest: It ranges between 12% to 15%.
Processing fee: Up to 3% of the loan amount, however, it depends on the loan amount
Tenure: The maximum repayment tenure is up to 20 years.
Easy Balance Transfer: With this facility, you can transfer your existing home loan with other bank to Shubham for a lower interest rate.
Prepayment: No charges are levied on partial prepayment or foreclosure of the home loan.
Insurance Policy: An insurance cover to protect your family against repayment of home loan in the event of unfortunate situations.
Objective: Shubham home loan aims to help people to improve their existing house by financing for the repair and extension work.
Loan Amount: Up to INR 40 Lakhs
Important documents to be submitted while applying for home loans with Shubham
For guarantor (wherever applicable):
Your Shubham home loan can be repaid in following three ways.
Standing Instruction (SI):
If you are an existing account holder with Shubham, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Shubham account you specify.
Electronic Clearing Service (ECS):
This mode can be used if you have a non-Shubham account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
Post-Dated Cheques (PDCs):
You can submit post-dated EMI cheques from a non-Shubham account at your nearest Shubham Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.
It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
You can either apply online or visit a nearby Shubham branch for the application. You can also download the home loan application form from the Shubham official website, complete the form and submit it the bank representative.
You can also check your eligibility for a home loan through CreditMantri and apply for it.
With attractive interest rates and low processing fees, Shubham caters to the needs of various sections of people. Floating and fixed type of interest rate are available according to the preference of the customers. The borrowers can prepay the Shubham home loan without any penalty. Shubham home loan is the best option to buy or construct your dream house.
1. Is there penalty for prepaying the Shubham Home Loan?
No penalty is levied for prepaying the Shubham Home Loan.
2. Can I top up my existing Home Loan?
Yes, you can get additional funding on your existing home loan.
3. What is the maximum loan repayment period for Shubham home loans?
The repayment period is up to 20 years.
4. How Can I apply for Shubham home loan?
You can either apply online or visit a nearest Shubham branch and take the help of the bank’s representative.
5. What is the maximum loan amount provided by Shubham?
The maximum loan amount is INR 40 Lakhs.
6. Does Shubham facilitate balance home loan transfer?
Yes, you can transfer your existing home loan to Shubham.
7. Can I get tax benefits from Shubham Home Loan?
As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.
Ya I agree all the term s Nd condition s....
Nice and quick response
The website is primarily designed to enable customers to compare the home loan interest rates, processing fees. CreditMantri helps people in securing the best loan possible. Their home loan EMI calculator is handy. After registering on the portal, I received a quick response from the CreditMantri team on time.
After documentation process, I was offered a low interest rate on my home loan, and I am very much satisfied. Thanks to CreditMantri for making my dream come true."
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