Interested in financial products
CreditMantri
Processing
Sundaram Home Finance Limited

Apply Sundaram Home Finance Limited

Max Tenure

20 yrs

Best Rate

9.1%

Processing Fee

Nil

Currently not available! for similar products

Sorry! We couldn't find any offer matching this category.

Sundaram Home Finance Limited Home Loans

Sundaram Home Finance Limited has been in the lending business for more than 2 decades and has made it its mission to help every Indian own a home. They offer home loans for various purposes like purchasing a house or plot, construction loans to build your dream home, home improvement loans, home loan balance transfer, and more. Their legacy of affordable lending has led many Indian homeowners to realize their dream of owning their own space.

Sundaram Home Finance Limited - Home Loans Snapshot

Types of home loans offeredHome Loans, Plot Loans, Home Improvement Loans, Home Extension Loans, Top Up Loans, Take Over Loans, Loan Against Property
Loan amountUp to Rs.4 crores, based on the loan type and your requirement
Interest ratesSalaried – starting at 8.65% , Non-salaried/Self-employed – 9.15% , Non-housing loans – 13.55%
Repayment tenure25 years
Processing fee0.75% - 1% of the loan amount + GST
Pre-payment chargesIndividual Borrowers – NIL , Non-Individual (Applicant/Co-applicant/Guarantor) – 1.5%

Additional Read: 6 Factors That Affect Your Home Loan Eligibility

What Features Does Sundaram Home Loans Give The Borrowers?

Sundaram Home Finance Ltd. brings decades of experience and expertise in the housing finance segment, giving its customers a smooth and transparent home loan process. Our interest rates and processing fees are the best in the industry while our customers enjoy great service from a seasoned team.

Here are a few features of our home loans –

1. Faster loan processing times and instant disbursal to realize your dream sooner

2. An impeccable customer service team that hand holds you throughout the loan process

3. Instant updates on SMS and emails to keep you apprised of your loan application

4. High loan amounts with competitive interest rates so that you don’t have to compromise on your dream home

5. Well-qualified in-house legal and technical team to verify all documents without any errors or omissions

6. Highly secured facility with advanced infrastructure to keep your documents safe until the end of loan tenure

7. 120+ branches across India to give you instant service anytime, anywhere

8. Collaboration with Royal Sundaram for affordable house insurance plans

Also Read: 10 Dos Donts While Applying For A Home Loan Online

What Are The Different Types Of Loans Offered By Sundaram Housing Finance Ltd

1. Home Loans

This is their most popular product; home loans to purchase a residential property. You can use the loan to buy both new and old houses. Under-construction residential houses are also covered under this loan.

- Loan amounts of up to Rs.4 crores

- Interest rates starting at 8.65%

- Repayment tenure of up to 25 years

2. Plot Loans

Loans to buy residential plots in your name.

- Plots Loan amount of up to Rs.20 lakhs

- Interest rates starting at 8.65%

- Repayment tenure of 25 years

3. Home Improvement Loans

Customized loans to renovate or repair your existing home.

- Loan amount of up to Rs.4 crores

- Interest rates starting at 8.65%

- Repayment tenure of 25 years

4. Home Extension Loans

Do you want to add another bedroom or add another floor to your existing house? Home extension loans can help you.

- Loan amount of up to Rs.4 crores

- Interest rates starting at 8.65%

- Repayment tenure of 25 years

5. Top-up Loans

Loan based on your existing home loan to take care of personal commitments. These loans don’t have restrictions on the end use, and hence you can use them for personal needs like marriage, higher education, vacation, medical emergencies, and more.

- Loan amount based on your existing home loan and home equity

- Interest rates starting at 8.65%

- Repayment tenure of 25 years

6. Take Over Loans – Home Loan Balance Transfer

If your current home loan interest rate has peaked, you can choose to transfer it over to Sundaram Home Finance at a lower interest rate. Borrowers who have an existing home loan arrangement with another bank and have been paying on time for 12 months or more may be eligible for a Sundaram Home take over loan. Even under construction properties are eligible for a home loan balance transfer. Also, get an attractive top-up loan facility when you transfer your existing home loan to Sundaram Home Finance.

7. Loan Against Property

A home is a great investment and comes handy in times of financial constraints. Get a loan against your property to take care of personal emergencies. Their Loan Against Mortgage of Property (LAMP) facility helps homeowners get the best value for their property. They promise a quick and speedy approval process to put the much needed funds in your hands at the earliest.

- Maximum loan amount against your property

- Comfortable repayments of up to 15 years

- No need to vacate the house during the loan period

- 60% of the property value for existing customers and 50% funding for new customers

Additional Read: 10 Smart Tips To Get Your Home Loan Approved Quickly

What Is The Eligibility To Apply For Home Loans From Sundaram Home Finance Ltd

- Applicants aged between 18-65 years

- Salaried or self-employed with stable income

- Spouse or close family members can be added as co-applicant

- Co-owners of the property have to be added as co-applicant

Document Requirement

KYC Documents (Proof of identity and address)

- Aadhaar Card

- Driving License

- PAN Card (Mandatory)

- Passport

- Voter ID Card

- Bank Passbook with photo

- Photo Credit Card

Income Documents (Proof of Income)

SALARIED

- Last 6 months' Salary Slips

- Last 6 months' Bank Statements, showing salary credits

- Latest Form-16 and IT returns

SELF EMPLOYED

- Last 12 months' GST Returns

- Last 6 months' Bank Statements

- Last 3 years' IT returns

Property Documents

- Original registered sale deed for undivided share in favor of the customer

- Land sale agreement for purchase of plots

- Original sale and construction agreement (To be registered if applicable) in favor of the customer

- Original stamped receipt for the payments made by the customer to the builder (i.e. = Total property cost - Home loan amount)

- Encumbrance certificate for a minimum 13 years or for prior period if applicable

- Parent document copies for a minimum 13 years or for prior period of documents if applicable

- Permission of Mortgage Letter by the builder in favor of Sundaram Home's format

- Copy of approved plan and floor plan

- Handing over of possession of flat

- Completion certificate from builder

- Power of Attorney documents (if any)

Interesting Read: Smart Ways For Home Loan Borrowers To Protect Themselves Against Interest Rate Hikes

FAQs of Sundaram Home Finance Limited

1. What is the maximum home loan I can get from Sundaram Home Finance?

If you are looking to purchase a house property, you can get up to Rs.4 crores. Plot loans and other loans are offered based on the purchase value and your eligibility.

2. How can I apply for a loan with Sundaram Home Finance?

You can walk into any of the 120+ branches of Sundaram Home Finance to apply for a loan. You can also call their customer support, who will connect you with an official to guide you with the loan application.

3. What is the interest rate offered by Sundaram Home Finance?

Interest rates start at 8.65% for housing loans and 13.55% for other loans.

4. Can I get a loan to renovate my current home?

Yes, Sundaram Housing Finance offers loans for renovation and extension of your current housing property.

5. What are the repayment options with Sundaram Housing Finance Ltd.?

Home loan repayments are done via ECS or NACH mandate from your bank account.

×Thank you! Your comment will be reviewed and posted shortly.

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.