Piramal Housing Finance
Piramal Capital Housing Finance, also known as Piramal Finance, is an emerging housing finance company in India. Piramal Housing Finance is getting popular among borrowers for its quick loan approvals, attractive loan schemes, and superior customer experience that is digital at the core. Piramal home loans start at an interest rate of 11.00% per annum with a processing fee of up to 3.00% of the loan amount. A borrower can choose a floater or fixed rate of range package when opting for a Piramal home loan, and there is always an option to swap anytime during the loan tenure.
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Piramal Housing Finance Key Highlights
Get the lowest interest rates with Piramal Housing Finance
| Loan Amount | Starts at Rs. 5 lakhs up to Rs. 2 crores |
|---|---|
| Rate of Interest | Starts at 9.75% per annum |
| RPLR | |
| Processing Fee |
Up to 3 % |
| Maximum Tenure for Repayment | 30 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/Floater |
| Charges for Prepayment/Foreclosure | Floater Rate - No Charges | Fixed Rate - 2.00% of the loan amount + Taxes |
Piramal Housing Finance Interest Rates in 2024
A home loan interest rate is the amount charged on the principal amount lent to a borrower by a bank or NBFC. Piramal Housing Finance rate of interest in 2024 starts at 9.75% per annum. The table below enlists the current Piramal home loan interest rate for your reference:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Up to Rs. 70 lakhs (For Salaried) | Starts at 11.00% per annum |
| Up to Rs. 70 lakhs (For Self-Employed) | Starts at 11.00% per annum |
Interest rates were last updated on 3rd May 2024
Piramal Home Loan Eligibility Criteria
PCHFL takes into account certain eligibility criteria before granting home loans to applicants. These are general criteria such as age, CIBIL score, profession, and loan repayment capacity. To get a Piramal home loan, an applicant must be self-employed or employed at a private or public sector enterprise. The table below enlists the Piramal Home Loan eligibility criteria:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21 - 62 Years | 23 - 70 Years (Government Employees) | 23 - 70 Years |
| Nationality | Indian Resident | Indian Resident |
| Minimum Income Earned | Nothing Specific | Nothing Specific |
Piramal Housing Loan Processing Fee and Charges
In order to process each home loan application, Piramal Housing Finance Ltd. charges a processing fee, which is a fixed percentage of the total loan amount. Besides, the NBFC also charges some fees for additional services so that you seamlessly get a home loan. The table below enlists the Piramal home loan processing fee and charges for your reference:
| Processing Fee | Up to 3.00% of the loan amount + Taxes |
|---|---|
| Login Fee/ Application Fee | Rs. 3500 + Taxes |
| Charges for Retrieval of Original Property Documents | Rs. 500 + Taxes |
| Photocopy of Documents | Rs. 1000 + Taxes |
| Rate of Package Swapping (Floater to Fixed or Vice-Versa) | 0.5% of the outstanding loan + Taxes |
| Charges for Foreclosure/ Prepayment |
|
| Loan Pre-Closure Statement | Rs. 1000 + Taxes |
| Collection Pickup Charges | Rs. 250 per visit + Taxes |
| Document List Provided to the Lender | Rs. 1000 + Taxes |
| CERSAI | Rs. 500 + Taxes |
| Loan Repayment Instrument Dishonour Charges | Rs. 500 + Taxes |
| NOC Issue Charges | Rs. 500 + Taxes |
| Statement of Account | Rs. 500 + Taxes |
| Change of Loan Repayment Mode | Rs. 500 + Taxes |
| Custodial Charges | Rs. 500 + Taxes (cases where the borrower does not collect title documents within 60 days of loan closure) |
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Piramal Home Finance Schemes and Top Plans
Listed below are some popular home loan schemes offered by Piramal Housing Finance Ltd.:
1. Housing Loan
- Quick home loans starting Rs. 5 lakhs up to Rs. 2 crores
- Maximum loan repayment tenure of up to 30 years
- Up to 90% of the property construction cost as LTV
2. Home Construction Loan
- Best home loan for those keen to construct a home on an already-bought plot
- Up to 90% of the property cost as LTV
- Maximum loan repayment tenure of up to 30 years
3. Home Extension Loan
- Ideal for those who wish to extend a home by adding a floor or room
- Minimum loan amount starting at Rs. 5 lakhs up to Rs. 2 crores
- Maximum loan repayment tenure of up to 30 years
4. Home Renovation Loan
- Ideal for those keen to renovate an already existing home
- Minimum loan amount starting at Rs. 5 lakhs up to Rs. 2 crores
- Maximum loan repayment tenure of up to 30 years
5. Home Loan Balance Transfer
- Perfect for borrowers who want to transfer their existing housing loans to Piramal Housing Finance home loans
- Available only on existing Piramal home loan borrowers
- Lower rate of interest
6. Super Home Loan
- Avail up to 15% reduction on EMIs
- Easy top-up facility available with an extra EMI
- Up to 90% of the property cost as LTV
7. Piramal Pradhan Mantri Awas Yojana (PMAY) Scheme Loan
- Interesting interest subsidy on housing loans for EWS, LIG, MIG-1
- Maximum loan amount of up to Rs. 18 lakhs
- Maximum loan repayment tenure of up to 20 years
Note: All of the above home loan plans are made available to applicants solely at the discretion of Piramal Housing Finance, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required For Piramal Home Loan
Enhance your chances of getting a home loan approved from Piramal Housing Finance by arranging for the essential KYC documents and details beforehand. The Piramal home loan documents required list is mentioned below for your reference.
Documents Required for Salaried Applicants
- Salary Slip for the last 3 months
- Bank Passbook or Statements for the last 6 months
- Form 16/ ITR
- Duly filled application form
- Passport-size photographs
- Processing fee cheque in favor of Piramal Housing Finance Ltd.
Documents Required for Self-Employed Applicants
- Trade License
- GST Registration Certificate
- SEBI Registration Certificate
- Bank Passbook or Statements for the last 6 months
- Form 16/ ITR
- Profit and Loss Account and Balance Sheet attested by a CA
- Duly filled application form
- Passport-size photographs
- Processing fee cheque in favour of Piramal Housing Finance Ltd.
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof | Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card |
| Documents Related to Property |
|
Find Piramal Housing Finance Home Loan Offices Near You
If you are planning to visit one of the offices of Piramal Housing Finance Home Loan near you to understand the Piramal Housing Finance Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the BASIC Home Loan team will reach out to you for needful assistance in the process.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
The current interest rate on Piramal Housing Finance home loans 2023 starts at 11.00% per annum. However, we suggest you verify the same by visiting their official website.
The eligible age limit to apply for a Piramal home loan is 23 - 70 years for self-employed individuals, 21 - 62 years for salaried individuals, and 21 - 70 years for government employees.
The processing fee for a Piramal home loan is up to 3.00% of the loan amount and taxes as applicable.
Listed below are the eligibility requirements to apply for a Piramal housing home loan:
- Age: 23 years - 70 (self-employed); 21 years - 62 years (salaried); 21 years - 70 years (Government employees)
- Nationality: Indian Resident
- CIBIL Score: 750 and Above
- Co-Applicants: Mandatory
If the applicant has submitted all the KYC documents and details as asked by the NBFC, it will hardly take a few days or a week to get a home loan approved from Piramal Housing Finance Ltd.
There are no prepayment or foreclosure penalty charges on floater rate packages. However, PCHFL does charge a foreclosure penalty of 2.00% of the loan amount and applicable taxes.
An eligible applicant can get up to Rs. 2 crores home loan from PCHFL on certain loan schemes.
A borrower can easily download the Piramal Housing Finance home loan statement by following these steps:
- Visit the official website of PCHFL
- Go to the “Loan Statement” option under the “Customer Service” tab
- Enter the details such as loan account number
- Your loan statement is ready to download