Aadhar Housing Finance Interest Rate
With the primary goal of enabling every person in India to own their dream home, Aadhar Bank offers easily affordable home loans through absolutely hassle-free processes. The application procedure is seamless, and you will also receive complete assistance in the process to ensure that your home loan amount is approved and disbursed. Aadhar Housing Finance's interest rate is competitive as well, starting at 9.50% per annum, and the other charges are also affordable easily.
Aadhar Housing Finance EMI Calculator
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Aadhar Housing Finance Key Highlights
| Amount of Loan | Up to Rs. 1 crore |
|---|---|
| Rate of Interest | 9.50% p.a. onwards |
| Processing Fees |
Up to INR 5100 or 1.5% whichever is higher |
| Max Tenure for Loan Repayment | Up to 30 years |
Aadhar Housing Finance Interest Rates in 2024
Aadhar Bank offers home loans to customers at easily affordable and competitive interest rates. The bank strives to provide easy and comfortable housing finance options to every citizen in the country. The Aadhar Bank home loan interest rate in 2024 currently starts at 9.50% per annum. The table below highlights the interest rates for different categories of home loan applicants
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried | 11.75% - 16.50% |
| Self-Employed | 12.75% - 17% |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Retail Prime Lending Rate: 17.40%
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| All Loans | 11.75% p.a. onwards |
Aadhar Housing Finance Balance Transfer and Top-Up Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan |
|---|---|
| All Loans | 11.75% - 17% p.a. |
Interest rates were last updated on 6th May 2024
Aadhar Housing Finance Interest Rates for All Schemes in India
For the convenience of its customers, Aadhar Bank provides a variety of home loan plans that are both affordable and offer the maximum comfort to the loan applicant. These schemes are designed with the varied needs of the customers kept in mind and are also offered at competitive rates of interest. The table below lists the top schemes at Aadhar Bank and their corresponding rates of interest for your reference
| Aadhar Housing Finance Schemes | Rates of Interest |
|---|---|
| Home Loan for Salaried Employees |
|
| Home Loan for Self-Employed |
|
| Home Improvement Loan |
|
| Home Extension Loan |
|
| Home Construction Loan |
|
Aadhar Housing Finance Interest Rates for Balance Transfer, Top Up and Overdraft
Aadhar Bank offers its home loan applicants 3 kinds of facilities for their convenience. Each of these is detailed in the below sections
Aadhar Housing Finance Balance Transfer
This is one of the most comfortable options available at Aadhar Bank. Customers of other banks can choose to transfer their existing home loan balance amounts from their respective bank to Aadhar Bank and, in turn, enjoy lower rates of interest, lower EMI options, better customer service, and a host of other facilities. Aadhar Bank home loan balance transfer starts at an interest rate of 11.75% per annum.
Aadhar Housing Finance Top-Up Feature
The top-up facility is offered to existing home loan customers at Aadhar Bank to cover additional expenses over and above the existing home loan amount. The amount can be topped up, and the interest rate ranges between 11.75% and 17% per annum.
Aadhar Housing Finance Overdraft Facility
As the name suggests, the overdraft feature enables Aadhar Bank customers to avail of some extra funds and manage their expenses better. Customers can deposit surplus funds into their overdraft account and withdraw from it as and when the need arises.
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Compare Aadhar Housing Finance Interest Rate with Top Banks
Before applying for a home loan at Aadhar Housing Finance, it is recommended that you compare the bank’s rate of interest on home loans with that offered by other leading banks and NBFCs in India. The table below provides a list of the home loan interest rates and processing fees offered by Aadhar and other top banks/NBFCs in the country
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| ICICI Bank | 9.25% p.a. onwards | 0.50% of loan amount + applicable taxes |
| HDFC Bank | 8.50% p.a. onwards | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + applicable taxes |
| Axis Bank | 8.70% p.a. onwards | 1% of outstanding principal amount (minimum Rs. 10,000 + GST applicable) |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 0.5% - 1.0% of loan amount + applicable taxes |
| IDFC Bank | 8.75% p.a. onwards | Up to 3% of the loan amount |
Aadhar Housing Finance Balance Transfer Interest Rates
Aadhar Bank enables customers of other banks to lower the financial burden on their shoulders by transferring the outstanding dues on their home loan amounts at other banks to Aadhar Bank. This facility is offered at competitive (relatively lower) interest rates by Aadhar Housing Finance.
Aadhar Bank Home Loan balance transfer rates of interest start at 11.75% per annum and may go up to 16.50% per annum for salaried loan applicants. For self-employed customers, the bank charges interest rates between 12.75% and 17% per annum. Given below is a simple process to apply for a home loan balance transfer at Aadhar Bank:
- Visit Repay Right on the BASIC Home Loan portal.
- You would be required to fill out a form on this page with details on the current outstanding loan amount, existing EMI payable, existing loan repayment tenure, the existing interest rate per annum, and the new interest rate per annum.
- After entering the key details, hit Next to submit the form.
- You will be redirected to the next page, where you can view your total savings on your home loan when you transfer your outstanding balance to Aadhar Bank.
- For more help on this, you may also choose to connect with one of our team members at BASIC Home Loans for guidance on the process.
Get Home Loan Starting at 8.5%*
How to Calculate Aadhar Housing Finance Interest Rates?
The simplest way to calculate the interest rate payable on a home loan from Aadhar Bank is to use the online tool that is easily available on the BASIC Home Loan website - EMI. The EMI calculator allows you to determine the exact interest rate you would be required to pay to Aadhar Bank for 10, 20, or 30 years (depending on the loan tenure chosen) up to a total approved amount of Rs. 1 crore. The table below shares the complete details
Aadhar Home Loan EMI Calculation 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 11.75% p.a. | Rs. 14,203 | Rs. 10,837 | Rs. 10,094 |
| Rs. 20 lakh | 11.75% p.a. | Rs. 28,406 | Rs. 21,674 | Rs. 20,188 |
| Rs. 30 lakh | 11.75% p.a. | Rs. 42,609 | Rs. 32,511 | Rs. 30,282 |
| Rs. 40 lakh | 11.75% p.a. | Rs. 56,812 | Rs. 43,348 | Rs. 40,376 |
| Rs. 50 lakh | 11.75% p.a. | Rs. 71,015 | Rs. 54,185 | Rs. 50,470 |
| Rs. 60 lakh | 11.75% p.a. | Rs. 85,218 | Rs. 65,022 | Rs. 60,565 |
| Rs. 70 lakh | 11.75% p.a. | Rs. 99,421 | Rs. 75,859 | Rs. 70,659 |
| Rs. 80 lakh | 11.75% p.a. | Rs. 1,13,624 | Rs. 86,697 | Rs. 80,753 |
| Rs. 90 lakh | 11.75% p.a. | Rs. 1,27,827 | Rs. 97,534 | Rs. 90,847 |
| Rs. 1 crore | 11.75% p.a. | Rs. 1,42,029 | Rs. 1,08,371 | Rs. 1,00,941 |
The figures in the table above are based on an 11.75% p.a. interest rate offered by Aadhar Bank. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors.
FAQ's
Aadhar Housing Finance generally considers a CIBIL score of 750 very good for applying for a home loan.
Aadhar Housing Finance allows its home loan applicants to apply for home loans at both fixed and floating rates of interest.
Aadhar Housing Finance determines the final interest rate payable on its home loans based on the applicant's annual income level. The rate may vary depending on the borrower's loan repayment capacity.
This may depend on the sole discretion of the bank. However, Aadhar Housing provides the option of home loan balance transfer, enabling customers of other banks to transfer their outstanding home loan amounts to Aadhar at lower interest rates.
Home loan amounts at Aadhar Housing are granted to applicants for up to Rs. 1 crore. Additionally, the loan amount should not exceed 80% of the cost of the property.
The easiest and safest way to compute your EMI amount for the home loan availed at Aadhar Housing is to use the online EMI calculator, a simple tool readily available at https://www.basichomeloan.com/emi.
To know more about the home loan interest rates, processing fees, and any other charges on availing home loans with Aadhar Housing Finance, you may speak to one of the team representatives at BASIC or visit https://www.basichomeloan.com/.