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Get Easy Home Loans From Fullerton India Grihashakti Home Finance Company

Purchasing your own house is a dream come true and a crucial milestone for many. Homeowners want to curate their space suitable to their tastes and needs. However, building a dream house or purchasing one is an expensive affair. A Home Loan, if managed well, is the most significant source to realize these dreams. 

When an individual wants to achieve their life goal of buying a house, Fullerton Grihashakti Home Loan is a one-size-fits-all solution for many. The lending institution provides numerous benefits to aspiring borrowers. So, let’s explore more details about taking a home loan from Grihashakti.

Grihashakti Features and Benefits

These are the features of Fullerton Grihashakti housing finance:

  • Ample Loan Amount: The lending institution funds up to 90% of the property’s value. The borrower pays the remaining amount as a down payment.
  • Competitive Interest Rates: The interest rates start from 9.50% for salaried employees and 10.50% for self-employed professionals. However, the final interest rates depend on the market conditions, the applicant’s income, age, credit history, DTI ratio, nature of employment, and the property’s location and value.
  • Flexible Repayment Terms: A borrower can repay the loan in EMIs spread across a flexible tenure of up to 30 years. Prospective borrowers can use a Home Loan EMI calculator to estimate the EMIs for different loan terms and select a tenure suitable to their budget.
  • High LTV: The property’s value is a crucial eligibility criterion based on which the lending institution decides the loan amount. Lending institutions provide different percentages of the property’s value as a Home Loan, called the LTV ratio. Compared to most other lenders, Fullerton Grihashakti has a high LTV ratio of up to 90%, requiring the applicant to pay a minimum down payment.

Benefits of Taking a Grihashakti Home Loan

Some crucial benefits of a Home Loan application at Fullerton Grihashakti  are: 

  • They offer loans for various requirements, like the purchase of a house or plot, home construction, home improvement or extension, etc.
  • Both salaried employees and self-employed professionals can borrow a Home Loan from Grihashakti 
  • The loan application, documentation, and processing are swift and hassle-free.
  • Borrowers can choose their loan terms with EMIs suitable to their repayment capacity, which does not strain their finances. 
  • Eligible borrowers can avail of Home Loan subsidies under the PMAY scheme.

Easy Eligibility Criteria to Make Home Loans Accessible

Grihashakti home loans are easily accessible for most, thanks to the company’s simple eligibility criteria. These include:

  • Age: The applicant should be a minimum of 21 years at the time of application and a maximum of 65 years at term-end to qualify for a Home Loan.
  • Employment: Salaried employees should have a stable job in a multinational company, listed public limited company, government department, private limited company, partnership firm, a proprietorship firm, or closely held or unlisted company. Self-employed professionals like doctors, chartered accountants, architects, individual business people or sole proprietorships, partnership firms, private limited companies, unlisted companies, or closely-held companies are also eligible.
  • Income: A decent income is necessary to prove repayment capacity and proceed with the Home Loan application procedure.
  • Credit Rating: Individuals with a credit score of 700 or above have a high chance of getting loan approval at the best interest rates.

Minimal Documentation for Easy Loan Access

Minimal documentation requirements make Grihashakti a preferred loan provider among borrowers. These include 

Identity Proof: PAN card, employee card, voter ID card, or driving license

Residence Proof: Aadhaar card, the latest electricity or piped gas bill, property tax or water bill, or ration card

Income Proof: Last three months’ salary slips, six months’ bank statements with salary credit, Form 16 for two years for salaried employees. Six months’ bank statements, last two years IT Returns, and CA audited financials.

Besides these, a few property-related documents are also required.

Easy Decision-Making at Fullerton Grihashakti

Grihashakti makes loan-related decision-making much easier and faster, thanks to the several calculators and online tools it provides on its website. These include the Home Loan eligibility calculator, EMI calculator, and prepayment calculator. These tools help compute different variables to make better loan decisions. Buying the dream home has now become easy with a Grihashakti. With an easy application procedure, attractive interest rates, and quick approvals, the company ensures that its customer’s dream home becomes a reality without stressing their budget. Follow the company’s Home Loan application procedure to secure the required funds to fulfil your dream in a hassle-free and quick manner. Get in touch with Grihashakti to learn more about Home Loans and begin applying to buy the property you want.

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