Shubham Home Loans
Shubham Housing Finance is one of the 1st NBFCs in India that offers customized credit programs to borrowers with informal income. It is a leading housing finance provider in the country that has helped over 65,000 customers buy a dream home with easy EMIs and repayment options. Shubham Housing Development Finance Company offers home loans with interest rates starting at 9.90% - 16.00% per annum, which may vary for salaried and self-employed borrowers. Shubham home loans are processed efficiently and conveniently with minimum documentation at a processing fee of 2% of the loan amount.
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Shubham Housing Finance Key Highlights
Get the lowest interest rates with Shubham Housing Finance
| Loan Amount | Up to 50 Lakh |
|---|---|
| Rate of Interest | Starts at 10.25% per annum |
| RPLR | 17.50% |
| Processing Fee |
3% |
| Maximum Tenure for Repayment | 30 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/Floater |
| Charges for Prepayment/Foreclosure | Rs. 500 + GST |
Shubham Home Loan Interest Rates in 2024
Shubham Housing Finance interest rate starts at 11.95% per annum and varies depending on the customer’s employment type and the home loan scheme. The table below enlists the various Shubham Finance home loan interest rate for fixed and floating rate packages:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Home Loan | 9.90% - 16.00% |
| Loan Against Property | 13.9% - 22.00% |
Interest rates were last updated on 22nd November 2024
Shubham Home Loan Eligibility Criteria
Shubham Housing Finance offers home loan facilities to customers based on their eligibility criteria, such as the applicant's income and the ability to repay the loan amount. Have a look at the table below to check the Shubham Housing Finance eligibility criteria to receive a loan amount:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21 – 65 years | 21 – 65 years |
| Nationality | Applicant should be a resident of a city in which the Shubham Housing Finance Office is located | Applicant should be a resident of a city in which the Shubham Housing Finance Office is located |
| Minimum Income Earned |
Shubham Home Loan Processing Fee and Charge
Shubham Housing Finance charges some fees from applicants who want to apply for a home loan. These are called processing fees which are the common charges levied by the lender to process a home loan application. Here are some fees charged for applying for a Shubham Home Loan:
| Processing Fee | Minimum 2.00% |
|---|---|
| Charges of Check Bounce | Rs. 500 + GST |
| Document Retrieval Charges | Rs. 1,000 + GST |
| ECS Dishonor Charges | Rs. 500 + GST |
| Charges for Providing Document List | Rs. 250 + GST |
| EMI Payment Instrument Swapping Charges | Rs. 500 + GST |
| Charges for Photocopies of Title Documents | Rs.500 + GST |
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Shubham Home Loan Schemes and Top Plans
Shubham Housing Finance offers three main types of home loans to its customers, which are listed below:
1. Shubham Home Loan
- Offered to applicants who want to purchase a new or old home or buy a plot to construct a home
- Best option for those who want to get a loan for a house extension
- Loan amount is up to Rs. 50 Lakhs
- Loan repayment tenure is up to 20 years
- Up to 80% - 90% of property value can be granted as a loan
- Easy EMIs, even for the low-income segment
2. Shubh Shakti Home Loan
- Especially designed for working women who want to purchase their own home
- Loan repayment tenure is up to 30 years
- Loan amount is up to Rs. 50 Lakhs
- Available for salaried as well as self-employed women
- Special discount is offered on the interest rate if the first applicant is a working woman
- Up to 80% - 90% of property value can be granted as a loan
3. Shubh Yodha Home Loan
- Exclusively offered for COVID-19 frontline workers such as doctors, grocery store owners, electricians, plumbers, insurance company employees, and municipal corporation employees
- Loan repayment tenure is up to 20 years
- Loan amount is up to Rs. 20 Lakhs
- Up to 80% of property value can be granted as a loan
- Easy customizable EMIs
Note: Note: All of the above home loan plans are made available to applicants solely at the discretion of Shubham Housing Finance, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required for Shubham Home Loan
Shubham Housing Finance requires some documents from applicants interested in getting a home loan. These documents play a crucial role in the evaluation and approval process, as they provide the lender with essential information about the borrower's financial situation and the property being financed.
Documents Required for Salaried Applicants
- Salary slips for the past few months
- Bank statements for the past few months
- ITR for the last 2 years
- Duly filled and signed application form
- A processing fee cheque in favour of Shubham Housing Finance Ltd.
Documents Required for Self-Employed Applicants
- Profit and Loss Account Statements
- Balance Sheet for the last year
- ITR attested by a CA for the last 2 years
- Duly filled and signed application form
- A processing fee cheque in favour of Shubham 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 Shubham Home Loan Offices Near You
Shubham Housing Finance has over 140 branches across 12 popular states of India. You can easily locate a branch of Shubham Finance near me by searching online. Alternatively, you can fill in the Free Consultation Form, and the BASIC Home Loan team will reach out to you for needful assistance in the procedure.
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 interest rate of the Shubham housing loan starts at 9.90% per annum. It could vary for different home loan plans offered by Shubham housing finance.
You can visit a Shubham Housing Finance branch or call their customer care to check your home loan status. Alternatively, you can check for the same online through the official website of Shubham Housing Finance.
There is no bank or NBFC that offers 100% home loans. But you can expect to get a loan of up to Rs. 50,00,000, depending on the city you live in, from Shubham Housing Finance.
The following are the main benefits of opting for a Shubham home loan:
- Easy EMIs
- Loans for all types of incomes, even to those with informal incomes
- Housing loans offer for the purchase of property, plot and self-construction or enhancement
- Hassle-free loan application procedure with minimum paperwork
The toll-free customer care number of Shubham Housing Finance is 1800-258-2225.
The CIBIL score is a numeric summary of a borrower's credit history and ranges between 300 and 900. The minimum CIBIL score to get a home loan from Shubham Housing Finance is 750.
The exact duration of your Shubham home loan procedure may depend on different factors. Generally, it may take between 1 week to get a home loan approved from Shubham housing finance.
The following tips will help you fetch a Shubham home loan at a lower interest rate:
- Opt for a shorter loan tenure
- Opt for a home loan balance transfer
- Revise EMI payouts on an annual basis
- Ensure paying the EMI on time