Capital India Home Loan
Capital India Home Loans Limited was established to help people buy homes with affordable housing loan schemes. CIHL, or Capital India Home Loans, understands that homeownership lays a strong foundation for a stable future, and everyone deserves this opportunity. The Capital India home loan interest rate starts at 9.00% per annum for floaters and 11.00% per annum for fixed rates. CIHL offers home loans at a processing fee of 4.00% of the loan amount, and the maximum amount a borrower can get is at NBFC's discretion. An interested borrower can apply for a CIHL scheme to buy, extend, improve, or renovate a home or transfer the balance from an existing home loan to this NBFC. Capital India also offers affordable housing to lower-income groups through the PMAY scheme.
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Capital India Home Loan Key Highlights
Get the lowest interest rates with Capital India
| Loan Amount | At the discretion of CIHL |
|---|---|
| Rate of Interest | Starts at 9.00% per annum |
| RPLR | |
| Processing Fee |
4.00% of the loan amount |
| Maximum Tenure for Repayment | 20 years |
| Penal Rate of Interest | |
| Rate Packages | Floater/ Fixed |
| Charges for Prepayment/Foreclosure | Floater: Nil | Fixed: 2% + GST for closure by balance transfer |
Capital India Home Loan Interest Rates in 2024
Capital India NBFC offers home loans at fixed and floater rates, and the interest rate varies accordingly. The Capital India Home Loans Limited interest rate in 2024 starts at 9.00% per annum for floaters and 11.00% per annum for fixed plans. The table below shows the current Capital India Housing Loan rate of interest in 2023:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Floater Plan (For Salaried) | 9.00% - 16.00% per annum |
| Floater Plan (For Self Employed) | 9.00% - 16.00% per annum |
| Fixed Plan (For Salaried) | 11.00% - 26.00% per annum |
| Fixed Plan (For Self Employed) | 11.00% - 26.00% per annum |
Interest rates were last updated on 1st December 2024
Capital India Home Loan Eligibility Criteria
An applicant must meet some eligibility criteria to get home loans approved from any bank or NBFC. These are general parameters based on the applicant's age, nationality, work experience, employment, and CIBIL score. The table below enlists Capital India home loan eligibility criteria for your reference:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | ||
| Nationality | Indian Resident/ NRIs/ PIOs | Indian Resident/ NRIs/ PIOs |
| Minimum Income Earned | Nothing Specific | Nothing Specific |
Capital India Housing Loan Processing Fee and Charges
Processing each home loan application incurs some cost to the NBFC; therefore, it charges a processing fee of up to 4.00% of the loan amount. Besides, CIHL charges a set of fees for other services too. The table below enlists the updated Capital India home loan processing fees for2023:
| Processing Fee | Up to 4.00% of the loan amount |
|---|---|
| Loan Agreement and Document Retrieval Charges | Rs. 2,000 per instance |
| Charges for Providing Document List (LOD) | Rs. 500 per instance |
| Swapping Charges | Rs. 1.000 |
| Cheque Bounce/ Rejection of NACH Charges | Rs. 500 per instance |
| Statutory Charges/ CERSAI |
|
| Loan Cancellation Charges | Rs. 10,000 per contract |
| Legal Charges | As per the contractual rate for overdue amounts/ the period after 30 days grace period |
| Late Payment Charges | 2.00% per month over and above the prevailing rate of interest |
| Rate Switch Charges (Salaried/ SENP) | Rs. 5,000 |
| Foreclosure Charges |
|
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Capital India Home Finance Schemes and Top Plans
Different borrowers may have different needs, and Capital India Home Loans understands this very well. Therefore, it offers a plethora of housing loan schemes to meet the varied needs of different people. Listed below are some of the popular home loan plans of CIHL:
1. Home Loans
- Best home loan scheme to buy a ready-to-move-in property or under-construction property
- Available to salaried, self-employed, professionals, and non-individual applicants
- Tax benefits under Sections 24 and 80C of the Income Tax Act
2. Home Improvement Loans
- Convenient financial solution for existing homeowners to renovate or repair their home
- Low-interest rates and faster turnaround time
- Tax benefits under Sections 24 and 80C of the Income Tax Act
3. Home Extension Loans
- A perfect housing loan to extend your existing home by adding a room, floor, or balcony
- Up to 90% of the home extension cost can be granted as a home loan
- Tax benefits under Sections 24 and 80C of the Income Tax Act
4. NRI Home Loans
- Customized home loan scheme for NRIs to buy a property in India
- Attractive interest rates and easy documentation
- Flexible loan repayment modes through NRO, NRE, NRNR, and FCNR accounts
5. Home Loan Balance Transfer
- Flexible way to transfer the outstanding amount of the existing home loan to Capital India Home Loans
- Additional Top-Ups available
- Helps to lower your cash flow by reducing your EMIs
6. Pradhan Mantri Awas Yojana CLSS Loans
- Affordable housing scheme for lower-income groups (LIG) and middle-income groups (MIG)
- Lucrative subsidies available on home loans
- One woman applicant is mandatory to avail PMAY subsidy
- 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 Capital India Home Loan, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required for a Capital India Home Loan
Before you set out to apply for a home loan from CIHL, we recommend you have a complete knowledge of what documents you need to submit with the applicant form. So, here is a complete list of Capital India home loan documents required:
Documents Required for Salaried Applicants
- Appointment Letter
- Salary slips for the last 3 months
- Certified Letter from the employer
- Form 16/ Latest Income Tax Returns
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of Capital India Home Loans Ltd.
- Bank Statements for the last 6 months
Documents Required for Self-Employed Applicants
- Business License
- Business Address Proof
- Education Qualification Certificate
- Profit and Loss Account Statements for the last 3 years attested by a CA
- Balance sheet for the past 3 years
- ITR of last 3 years
- Photocopy of Registration of Shop or Business Establishment under Shops and Establishment Act
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of Capital India Home Loans Ltd.
- Bank Statements for the last 12 months (Self and business)
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 Capital India Home Loan Offices Near You
If you are planning to visit one of the offices of Capital India Home Loans near you to understand the Capital India Home Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form, and the team of BASIC Home Loan 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 for a Capital India home loan 2023 starts at 9.00% per annum for a floater and 11.00% per annum for a fixed rate. However, we recommend you verify the same from the official website of the NBFC.
No, Capital India doesn't offer 100% home loans. However, you can fetch the maximum loan amount by maintaining a good CIBIL score, increasing your tenure, and reducing your EMIs.
The maximum home loan amount limit at Capital India depends on the discretion of the NBFC. Therefore, we suggest you contact the officials of CIHL to learn about the same.
Capital India offers a variety of housing loan schemes to salaried and self-employed Indians, NRIs, and PIOs such as:
- Home Loan
- Home Improvement Loan
- Home Extension Loan
- Balance Transfer Loan
- NRI Home Loan
- PMAY - CLSS Loan
An interested borrower may check the eligibility for a Capital India home loan by visiting the official website of the NBFC. These are general parameters related to the age, nationality, minimum income, and work experience of the borrower.
The maximum loan repayment tenure for a Capital India home loan is up to 20 years.
Capital India Home Loans Ltd. doesn't charge any fee for foreclosure for floater rate packages. It charges up to 2.00%, excluding GST as the foreclosure fee for fixed-rate packages and balance transfer cases.
An applicant can fetch the following benefits by opting for a Capital India home loan:
- Attractive interest rates
- Expert guidance at your doorstep
- Hassle-free and quick home loan disbursements
- Tax Benefits under Sections 24 and 80C of the Income Tax Act
- Flexible repayment modes