CreditMantri matches your credit and demographic profile to Sundaram BNP Paribas Home Finance lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Sundaram BNP Paribas Home Finance. Hence the chances of your Sundaram BNP Paribas Home Finance application getting approved is higher.
Sundaram Home Finance Limited was incorporated in the year 1999, as a subsidiary of Sundaram Finance Limited. In 2007, Sundaram Finance Limited entered into a joint venture with BNP Paribas Personal Finance. BNP Paribas subsequently acquired a 49.9% stake in Sundaram Home Finance Limited which led the company to be renamed “Sundaram Finance Group”.
Today, Sundaram Finance Group is one of the leading NBFCs in India, and provides a range of housing loans including loans for house construction on pre-owned land, loans for purchase of an apartment or house from a certified builder, and loans for purchase of a pre-existing freehold property, apartment, house or bungalow. You can also apply for a Home Extention Loan if you plan to add a floor, or a room, or extend your existing home in any way.
Everyone needs some much-needed financial help when it comes to buying their home. A home loan from Sundaram BNP Paribas is one option to help you fund your dream home. Owning a home is the aim of almost every Indian, if not the aim of millions the world over. It is a valuable, and often appreciating, asset and owing your home can offer lifelong mental peace of mind as well, so long as you are financially responsible. Taking a home loan is not a piece of cake and demands a significant chunk of your income towards making your monthly EMI payment. Read on to know the features and the benefits on offer!
A home loan from Sundaram BNP Paribas could be used for the following:
For Home Loans up to Rs. 20 Lakhs:
85% of the cost of the property, subject to valuation of the property and repayment capacity as assessed by Sundaram BNP Paribas Home Finance Limited.
For Home Loans above Rs. 20 Lakhs and up to Rs. 75 Lakhs:
80% of the cost of the property, subject to valuation of the property and repayment capacity as assessed by Sundaram BNP Paribas Home Finance Limited.
For Home Loans above Rs. 75 Lakhs:
75% of the cost of the property, subject to valuation of the property and repayment capacity as assessed by Sundaram BNP Paribas Home Finance Limited.
For salaried employees
20 years or retirement age, whichever is earlier
For Self Employed professionals
15 years or 65 years, whichever is earlier
15 years or retirement age, whichever is earlier
The applicant should be either be salaried or self-employed with the ability to make the initial down payment and suitable repayment capacity as assessed by Sundaram BNP. Co-applicants on the loan could include father / mother / brother / sister / relatives. However, co-applicants on the loan are required to be co-owners of the property.
For Persons of Indian Origin (PIO) and NRIs, the loan will be governed by the regulations under FEMA ( Foreign Exchange Management Act) and RBI guidelines.
The rate of interest on Sundaram BNP Paribas Home Loan is linked to SH-Prime Lending Rate (SH-PLR). The SH-PLR has reduced from 15.40% p.a. to 15.15% p.a. For the most accurate and up to date interest rates, it is advisable to contact Sundaram BNP Paribas directly.
For the Salaried:
For the Self-employed:
You will be given an application number while you apply for a home loan which you will need to keep handy for future referencing. You can contact Sundaram Finance customer care for help with tracking of your home loan application while quoting the application number.
Who is eligible to apply for a loan?
Any salaried or self-employed Indian national / Person of Indian origin / NRI with suitable net worth and repayment capacity is eligible to apply for a loan.
When can I apply for a home loan?
You can apply for a home loan anytime, even if you are yet to select a property or the construction of your chosen property is yet to begin.
What is the maximum amount of money I can borrow?
The maximum amount that you can borrow depends on several important factors such as your income, repayment capacity, credit history, etc.
While determining your eligibility, various factors are taken into consideration—your age, income, stable employment history, any ongoing monthly EMIs on other loans, savings you have in your bank account, repayment history / credit history and qualifications are some of the major criteria which are considered.
The simplified processing formalities facilitates loan borrowings from Sundaram with ease. It offers an array of finance products to suit every need and budget, and simplifies quick completion of the formalities once the loan is approved.
14 February 2017
"Simple application process Getting finance to buy your dream home can be a nightmare if you do it with no help. I decided to apply though Creditmantri and I am glad I did. I just needed to sign up with them and create my profile. They gave me a list of offers that I was eligible for. I simply had to choose from that. I compared the interest rates, and chose Sundaram. Now I am waiting for my loan amount to be disbursed. My application has been approved and verification is going on. Fingers crossed that I will get my loan amount soon. I have had a very smooth and pleasant experience, opposite to what I had been dreading before I found CreditMantri. Thanks CreditMantri!"