Easy Home Finance Home Loan
Started in 2017, Easy Home Finance Limited revolutionized the mortgage industry and re-engineered the mortgage process to offer a pioneering online experience and help millions of customers realize the dream of owning a home. Offering home loans at an interest rate of 11% to 18% per annum, Easy Home Finance offers loans at a processing fee of up to Rs 5000 for a tenure of up to 25 years.
Along with attractive interest rates, Easy Home Finance loans are available with quick approvals and easy application procedures to make dream homes a reality for our customers.
Easy Home Finance Home Loan EMI Calculator
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Easy Home Finance Home Loan Highlights
Get the lowest interest rates with Easy Home Finance Home Loan
| Loan Amount | 30 Lakhs |
|---|---|
| Rate of Interest | 11% - 18% per annum |
| RPLR | |
| Processing Fee |
Up to Rs 5000/ |
| Maximum Tenure for Repayment | Up to 25 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/ Semi-Fixed/Floating |
| Charges for Prepayment/Foreclosure | Fixed: Nil for up to 25% of the principal outstanding in the first 12 months of the loan. 5% up to the 24th month from the first disbursal date and 3% from the 25th month onwards of the first disbursal. | Floater: Nil |
Easy Home Finance Interest Rates in 2024
Easy Home Finance Limited offers competitive home loan interest rates to make the dream of owning a home within the easy reach of our borrowers. Easy Home Finance offers interest rates that start at 11% per annum with easy-to-manage EMIs. The company presents fixed, semi-fixed, and floating rates for borrowers to select according to their needs based on their eligibility criteria.
Below are some more details on Easy Home Finance rate of interest in 2024:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Home Loan | 11.00 % to 18.00% |
| Non-Home Loan | 14.00% to 18.00% |
Interest rates were last updated on 30th September 2024
Easy Home Finance Eligibility Criteria
The loan eligibility criteria of Easy Home Finance focus on the age of the applicant, resident status, income status, and credit history and score. The company considers these criteria to assess the repayment ability of the applicant to make the application process smooth. Applicants should understand the requirements well to boost their chances of getting a loan approved.
The table below enlists the Easy Home Finance eligibility criteria for home loans:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 18 –70 years | 18 –70 years |
| Nationality | Indian Residents/ NRIs | Indian Residents/ NRIs |
| Minimum Income Earned | Salaried/ Self-Employed Applicants | Salaried/ Self-Employed Applicants |
Easy Housing Finance Processing Fee and Charges
Easy Home Finance Limited is transparent about the company’s loan requirements including their processing fees. Henec, they clearly outline their processing fees, legal expenses, and administrative fees to the applicants to help them understand the charges to be paid for availing of the loan. This prepares the candidates to understand the cost of the loan and prepare their budget accordingly.
Take a look at the table below for the recently updated Easy Home Finance processing fees and other charges in 2024:
| Processing Fee | Up to Rs 5000 |
|---|---|
| Admin Fee | Up to 2.5% (exclusive of GST) |
| CERSAI Fee | Up to Rs 10,000 (for loans >Rs 300 lacs) |
| Multiple Collateral Evaluation Charges | Rs. 3,000 per additional collateral |
| Legal & Technical charges | Rs. 3000 for All Types HL/ P+C / LAP / Resale Units / First Sales - Non-APF Rs. 1500 for Completed Units - First Sale / Under Construction - APF |
| Subsequent Technical Charges | Rs 500 per visit |
| Stamp Duty Charges | On Actuals |
| PDC/ ECS/ ACH Dishonour Charges | Rs. 500 per instance |
| Penal Charges | 36% p.a. of outstanding EMI |
| Account Statement Charges | Rs. 500 per instance |
| SOA Charges | Rs. 500 per instance |
| Foreclosure Charges | Fixed: Nil for up to 25% of the principal outstanding. 5% up to the 24th month from the first disbursal date and 3% from the 25th month onwards of the first disbursal. Floater: Nil |
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Easy Home Finance Schemes and Top Plans
Easy Home Finance offers different loan types to suit different customer needs as per their loan availing purpose. The finance company understands and accepts that diverse borrowers have diverse requirements. Hence, to accommodate their needs, the company offers a range of different loans. Take a look at the types of home loan schemes presented by Easy Home Finance to understand them better:
Home Construction/Extension Loan
- This loan can be used to construct a home on a plot of land already owned by the applicant
- Avail this loan for constructing an additional extension or undertaking some construction work at an already existing house
- The loan amount for this loan starts at Rs.5 lakh
Home Loan
- This loan can be availed of to purchase a ready-to-move-in house or a house that is for resale or is under construction
- The loan amount can also be used to buy a residential plot of land
- The maximum tenure of this loan is up to 20 years
Home Improvement Loan
- This loan can be used for renovating an existing house or for repairing one
- The loan amount can also be used to buy new fixtures
- It is available with minimal documentation
Note: All of the above home loan plans are made available to applicants solely at the discretion of Bank of Maharashtra Home Loan, taking into consideration the earning and repayment capacity of the applicant.
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Find Easy Home Finance Loan Offices Near You
You may proceed to the closest Easy Home Finance branch to get personalized assistance on the home loan application process or you may conveniently apply online through the BASIC Home Loan portal. Applying online makes it quick and effective to manage your home loan from the comfort of your home and helps avoid personal visits to a branch. All you need is to fill out the Free Consultation Form with the BASIC Home Loan team for the desired assistance in loan application to avail of an Easy Home Finance loan.
We recommend you visit the official website of Easy Home Finance to update yourself with the latest information on Easy Home Finance loans, eligibility criteria, interest rates, and the list of documents required.
FAQs
Yes, Easy Home Finance Limited is a Non-Banking Financial Company (NBFC).
Factors that determine the eligibility of candidates for an Easy Home Finance loan include monthly income or repayment capacity of the applicant, collateral security, past and present credit history, and other risk parameters.
You can visit a branch of Easy Home Finance or call their customer care to check your home loan status. Alternatively, you can check for the same online through the official website of BASIC using the loan application ID.
The methodology adopted by Easy Home Finance Limited to decide the Rate of Interest is based on the operating cost, the internal & external credit score, the cost of funds, and the cost of capital among others.
Easy Home Finance offers a range of benefits such as attractive interest rates, simple loan application procedures, quick approvals, a variety of loan options, and a wide range of loan tenures. In addition, Easy Home Loan also offers tax benefits under the Income Tax Act of 1961.
Easy Home Finance facilitates loans to applicants in just 72 hours. The bank offers quick and automated verifications, ensuring rapid turnaround time.
Yes, foreclosure of your Easy Home Finance loan is possible. There may be some foreclosure conditions or charges levied on home loans of non-individual applicants. Check with the NBFC for more details.