Many Indians aspire to own their own home. However, the soaring real estate rates often deter prospective home buyers. Now, things have started changing with the availability of Home Loans at competitive interest rates and flexible repayment options. While multiple home finance companies in India offer housing loans, Fullerton India Home Finance Company – Grihashakti is a clear winner due to several lucrative factors.
Here are the top reasons Fullerton India Home Loan is the most sought-after.
1. Attractive Interest Rates:
Interest rates for Fullerton India housing finance are the most attractive in India today. The company offers interest rates starting at just 9.50% for salaried employees and 10.50% for self-employed professionals. The final rate depends on the applicant’s eligibility, income, loan amount, repayment tenure, DTI ratio, credit rating, and other crucial parameters.
2. Loan Products Designed to Suit Individual Needs:
Grihashakti offers different loan products to suit different individuals’ specific housing loan needs. Some of their popular home loan products include home purchase loans, home construction loans, home extension loans, home improvement loans, and Home Loan balance transfer facilities. The company also offers non-housing loans to purchase or construct commercial properties. Aspiring borrowers can select a loan product suitable to their needs and apply for the right one to get the required financing.
3. Easy Eligibility Criteria:
Fullerton Grihashakti has simple eligibility criteria that most salaried employees and self-employed individuals can fulfill without hassle. Any salaried employee working in a multinational company, listed public limited company, or government department can apply for a housing loan from Fullerton India. People working in a private limited company, unlisted company, partnership, or proprietorship firm are also eligible for a Home Loan.
Self-employed professionals like businessmen, sole proprietors, chartered accountants, architects, and doctors are also eligible. Professionals in partnership firms, unlisted companies, and closely-held or private limited company owners may also qualify. So, before applying for a Grihashakti Home Loan, check the eligibility conditions and use a Home Loan eligibility calculator online to improve the chances of approval.
4. Easy Documentation:
Eligible applicants must provide a few necessary documents to qualify for a Home Loan. Fullerton India has minimal documentation requirements compared to other lenders. These include their identity, residence, and income proofs. Applicants must provide their PAN card, voter ID card, and driving license to prove their identity. Salaried employees may also use their employee cards as valid ID proof. Aadhaar Card, ration card, property tax, water bill, piped gas bill, or latest electricity bill serve as legitimate residence proofs.
As far as income proof is concerned, the documentation requirements are different for salaried and self-employed applicants:
- For Salaried Employees: Last three months’ salary slips, two years’ Form 16, and six months’ bank statement with salary credits
- For Self-Employed Professionals: Last two years’ ITR with computation, CA audited Financial wherever applicable, and six months’ primary bank statement
5. Affordable EMIs:
Monthly EMIs for a Home Loan starts at just ₹ 841 for a ₹ 1 Lakh loan with a tenure of 30 years at a 9.5% p.a. interest rate. Although the interest rate depends on several factors determining eligibility, the Grihashakti interest rates are much lower than many other lenders in the country. Moreover, the company enables borrowers to select a repayment tenure of up to 30 years with EMIs suitable to their budget. A Home Loan EMI calculator is a valuable online tool that helps select a loan term with budget-friendly EMIs, saving borrowers from over-stressing their monthly budget.
6. Complete Transparency:
With Grihashakti, the Fullerton India Home Finance Company, loan seekers can be 100% assured of transparency during the loan process and customer service thereafter. The company is completely transparent in terms of its loan eligibility, documentation requirements, eligibility criteria, and, most importantly, fees. While applying for a Home Loan with Grihashakti, applicants can be sure of everything precisely and simply.
7. Robust Customer Service:
Fullerton India has professionally trained customer representatives to help Home Loan seekers through phone, email, and online query forms. The customer service executive handhold the loan seekers from the very beginning till the process’s successful end. Their support ensures that the entire procedure gets completed in a hassle-free manner.
Now that you know the world of benefits at Fullerton India home finance company- Grihashakti, take the plunge and start your exciting journey of buying your dream house today! Turn to Grihashakti, as the company offers flexible Home Loan plans with affordable interest rates, easy accessibility, and well-thought-out EMI options. Visit the official website and use a Home Loan eligibility calculator online to explore home loan offerings now!