Shubham Housing Development Finance Company operates with a vision to be the preferred mortgage lender of choice for people with informal income. Shubham housing finance company is also one of the first organizations in India to provide customized credit program for every borrower instead of document-based underwriting. Customers are offered a step-by-step guidance on how to assess EMI affordability and about formal housing finance procedures. With over, 80 branches in 78 cities, Shubham Housing Finance Company has served over 8700 happy customers.
With a trailblazer in home loan portfolio like Shubham Housing Finance by your side, you need not worry about any of the usual hassles associated with buying and financing a property.
Shubham Housing Finance offers home loans with interest rates that range from 11.90% p.a. to 16.00% p.a. with a repayment tenure of up to 20 years. You can avail loans ranging from Rs.20 lakh to Rs.50 lakh which also depends on the city.
Shubham Housing Finance Home Loan Eligibility:
- The applicant should be aged over 21 and not more than 65 years at the time of maturity of loan.
- The borrower should have a functional bank account.
- The applicant should be residing in a city where an office of Shubham Housing Finance is present.
Shubham Housing Finance Home Loan Documentation:
Having all the necessary documents handy will ensure a quick and efficient loan processing.
The following documents have to be submitted for Shubham Home Loans.
- Duly filled application form
- Proof of identity like PAN Card, voter ID and passport
- Address proof – ration card, electricity bill etc.
- Property-related documents
- Bank statements or passbook
- Income proof documents, as applicable
shubham finance home loan interest rate 2022
The interest rate for home loans ranges from 13.50% to 18% p.a
Shubham Housing Finance Home Loan EMI Calculator
Customers can make use of an online housing loan EMI calculator to check if the EMI for the loan amount would be affordable. You just have to enter details like loan tenure, total loan amount, processing charges and interest rate. In an instant, the calculator will project the amortization details and the repayment schedule. You can make use of this information to help you plan your finances in advance. Also, you can keep changing the parameters till you arrive at a comfortable EMI. The repayment schedule will also help you plan your repayments accordingly.
Features and Benefits of Shubham Home Loans:
The following features and benefits offered by Shubham Housing Finance Company makes it the most sought-after product in the financial market when it comes to Home Loans.
- High Loan Quantum:Shubham offers loans ranging from Rs.20 lakh to Rs.50 lakh depending on the city.
- Flexible Tenure:Customers can select a loan tenure up to 20 years. Borrowers can also opt for shorter terms after assessing their EMI affordability.
- Multi-Purpose Loan:Shubham Home Loans can be used for self-construction, plot purchase, property purchase and loans takeover. Re-financing options and home enhancement loans are also available.
- No Guarantor Required:Borrowers need not present a guarantor when applying for Shubham Home Loans which makes the process less complicated.
Shubham Home Loans FAQs
Can I prepay my home loan? Will I be levied any penalty for pre-closure?
Yes, customers can opt to make part of full prepayments. No penalty is levied for pre-closure of Shubham home loans.
Will I be charged a home loan processing fee?
Yes, the processing fee will have to be paid in two parts. Along with the application form, a nominal amount of Rs.1500 is to be paid. After the loan sanction, an amount equal to 3% of the total loan amount is to be borne by the borrower.
How do I repay the housing loan?
The monthly instalment amount can be paid either through Post Dated Cheques (PDCs) or through Electronic Clearing Service (ECS) as per the convenience of the borrower.
How will the loan quantum and interest rate be decided?
Shubham customer relationship managers will discuss in length about the applicant’s source of income, savings pattern and employment type. Based on this information, the customer’s affordability will be ascertained and a suitable loan quantum will be offered. The interest rate will be the rate as in the loan agreement.
I am a salaried applicant. What do I have to submit as income proof?
Salaried applicants will be asked to submit documents like salary slip, employment certificate and bank statement showing the salary credits.