Shubham Housing Finance Interest Rate
Shubham Housing Finance has emerged as a leading housing finance provider in India offering cheap and easy-to-sanction home loans to salaried as well as self-employed individuals. The Shubham Housing Finance interest rate starts at 9.90% per annum and might go up to 16.00% per annum. The NBFC encourages women to buy their dream home through the Shubh Shakti home loan scheme. The maximum loan repayment tenure offered on home loans by Shubham Finance is up to 20 years. To enjoy affordable Shubham Finance home loan interest rates, an applicant has to pay a processing fee of up to 2.00% of the loan amount while applying for the loan.
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Shubham Housing Finance Home Loan Key Highlights
| Amount of Loan | Up to Rs. 50 lakh |
|---|---|
| Rate of Interest | 9.90% p.a. onwards |
| Processing Fees |
Up to 2.00% of the loan amount |
| Max Tenure for Loan Repayment | 20 years |
Shubham Housing Finance Interest Rates in 2024
Shubham Housing Finance is an emerging NBFC geared to help potential home buyers buy their dream homes with affordable and accessible home loans. The lowest interest rate offered on Shubham Housing Loans starts at 10.25% per annum. The tables given below highlight the Shubham Housing Finance interest rate 2024 for different categories of loan applicants.
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried | 9.90% p.a. onwards |
| Self-Employed | 9.90% p.a. onwards |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Current Prime Lending Rate (PLR) is 17.50%
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 9.90% - 16.00% p.a. |
Shubh Shakti Home Loan Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 9.90% - 16.00% p.a. |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Bank Customers | 9.90% - 16.00% p.a. |
Interest rates were last updated on 29th November 2023
Shubham Housing Finance Interest Rates for All Schemes in India
To avoid confusion for potential home buyers, Shubham Housing Finance offers just three basic types of home loan schemes. The table below will give you a clear idea of the home plan schemes offered by the NBFC and the rate of interest offered on each.
| Shubham Housing Finance Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| Shubham Home Loan |
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| Shubham Home Loan |
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| Shubham Home Loan |
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Shubham Housing Finance Interest Rates for Balance Transfer, Top Up and Overdraft
Shubham Housing Finance offers three convenient options to home loan borrowers with which they can lighten their financial burden. These three options are an overdraft facility, a top-up loan, and a balance transfer home loan scheme.
Shubham Housing Finance Home Loan Balance Transfer
Shubham Housing Finance also offers an easy balance transfer facility to existing home loan borrowers so that they don't regret having a home loan at a higher interest rate from other banks or NBFCs. Through this balance transfer, they can switch their outstanding loan amount to Shubham's lower rate of interest home loan schemes. The interest rate for Shubham Housing Finance balance transfer starts at 9.40% per annum and might go up to 9.90% per annum.
Shubham Housing Finance Home Loan Top-Up
Shubham Housing Finance offers existing home loan borrowers an easy way to get extra funds for their sudden financial expenses through a top-up facility. It is a convenient option for homeowners to arrange additional funds without applying for another fresh loan. Shubham Housing Finance top-up interest rate starts at 9.90% per annum.
Shubham Housing Finance Home Loan Overdraft Option
Shubham Housing Finance home loan overdraft facility on home loans is a fantastic facility through which home loan borrowers can deposit or withdraw extra funds to meet their financial requirements. Combining your home loan with an overdraft account will help you consolidate financial activities and simplify your fund management. The Shubham OD rate starts at 9.90% per annum.
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Compare Shubham Housing Finance Interest Rate with Top Banks
Ensure an informed decision is made by comparing Shubham Housing Finance home loan interest rates with other leading banks and NBFCs. The table below enlists the interest rates and processing fees of other prominent financial organizations in India providing home loans:
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| Bank of India Home Loan | 8.30% p.a. onwards | Nil (until 31 Dec 2023) |
| Kotak Mahindra | 8.75% - 9.60% p.a. | 0.5% - 1.0% of loan amount + taxes |
| Tata Capital Ltd. | 8.95% - 12.00% p.a. | Up to 0.25% (Rs. 3,540 max) |
| Cholamandalam Housing Finance | 9.00% p.a. onwards | Rs. 5000 (including GST) |
| State Bank of India | 9.15% - 12.95% p.a. | Up to 0.25% (Rs. 10,000 max) |
Shubham Housing Finance Balance Transfer Interest Rates
Shubham Housing Finance encourages existing home loan borrowers from other banks and NBFCs to shift their outstanding loan amount to Shubham Housing Finance and enjoy a lower interest rate. This is done through the NBFC’s balance transfer home loan scheme.
Shubham Housing Finance balance transfer interest rates start at 9.90% per annum. Both salaried and self-employed applicants can avail of this flexible home loan scheme. Have a look at the easiest way to apply for a Shubham Housing Finance balance transfer home loan:
- Go to the Repay Right section on the BASIC Home Loan website - Repay right
- Enter the required information in the provided form and fill in the key details on the current outstanding loan amount, existing rate of interest per annum, new rate of interest per annum, existing loan repayment tenure, and existing EMI paid on the loan amount.
- Click on Next once you have entered the required details on the form.
- You can see your total savings with the Shubham Housing Finance Home Loan Balance Transfer option on the next page.
- Alternatively, you can get in touch with one of the team representatives of BASIC Home Loan, who can help maximize your savings with Shubham Housing Finance Balance Transfer on home loans.
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How to Calculate Shubham Housing Finance Interest Rates?
The easiest way of determining the interest rate payable on a Shubham Housing Finance home loan plan is by using the online home loan interest rate calculator available at EMI. Use this easy-to-use online EMI calculator to plan your monthly finances better without any confusion. The table below provides a detailed estimate of the EMI payable and the interest rate on Shubham Housing Finance home loans:
Shubham Housing Finance Home Loan EMI Calculator 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 | 9.90% p.a. | Rs. 13,160 | Rs. 9,584 | Rs. 8,702 |
| Rs. 20 lakh | 9.90% p.a. | Rs. 26,320 | Rs. 19,168 | Rs. 17,404 |
| Rs. 30 lakh | 9.90% p.a. | Rs. 39,479 | Rs. 28,752 | Rs. 26,106 |
| Rs. 40 lakh | 9.90% p.a. | Rs. 52,639 | Rs. 38,336 | Rs. 34,808 |
| Rs. 50 lakh | 9.90% p.a. | Rs. 65,799 | Rs. 47,920 | Rs. 43,510 |
| Rs. 60 lakh | 9.90% p.a. | Rs. 78,959 | Rs. 57,504 | Rs. 52,211 |
| Rs. 70 lakh | 9.90% p.a. | Rs. 92,118 | Rs. 67,088 | Rs. 60,913 |
| Rs. 80 lakh | 9.90% p.a. | Rs. 1,05,278 | Rs. 76,672 | Rs. 69,615 |
| Rs. 90 lakh | 9.90% p.a. | Rs. 1,18,438 | Rs. 86,257 | Rs. 78,317 |
| Rs. 1 crore | 9.90% p.a. | Rs. 1,31,598 | Rs. 95,841 | Rs. 87,019 |
The figures in the table above are based on a 9.90% p.a. interest rate offered by Shubham Housing Finance. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors.
FAQ's
Yes, Shubham Housing Finance offers different home loan interest rates for different schemes ranging from 9.90% to 16% per annum.
Yes, Shubham Housing Finance offers eligible applicants affordable home improvement and extension loans.
To decide the loan quantum and interest rate, the Shubham Housing Finance customer relationship manager will discuss the applicant’s employment type, source of income, savings pattern, and repayment capacity.
Yes, Shubham Housing Finance offers flexible balance transfer home loan schemes to existing home loan borrowers so they can switch to Shubham HF at a lower interest rate.
The maximum loan repayment tenure offered on Shubham home loans is up to 20 years.
The current interest rate offered on Shubham Housing Finance home loans starts at 9.90% per annum. However, we advise you to verify the same from the official website of the NBFC.
Shubham Housing Finance asks for a decent CIBIL score of at least 750 from home loan applicants.
To calculate home loan interest, Shubham Housing Finance takes into consideration factors like credit history, repayment capacity, source of income, and repayment tenure of the applicant.