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Aditya Birla Housing Finance Limited

ABC Solutions

Step-Down Home Loan

Apply for Home Loan at Attractive Interest Rates with Us

Apply now

Apply for Step-Down Home Loan

Salaried customer having pension income post retirement or joint home loan with one of the borrowers retiring in short time, Pay higher EMI up to retirement and Lower EMI subsequently till balance tenure of the loan.

Features & Benefits of Home Loan

  • Attractive interest rates

  • Quick & transparent processing

  • Loan tenure up to 25 years*

  • No prepayment charges applicable

  • Attractive balance transfer option available

  • ​​Door step services

  • Attractive interest rates

  • Quick & transparent processing

  • Loan tenure up to 25 years*

  • No prepayment charges applicable

  • Attractive balance transfer option available

  • ​​Door step services

* Disclaimer - All loans will be at the sole discretion of ABHFL

Home Loan Eligibility

Minimum age of applicant

21 yrs

Maximum age of applicant at loan maturity

Salaried - 70 years (For salaried professionals with pension income)

  • Upto 30 Lakhs

    90%

  • Above 30 lakhs & upto 75 lakhs

    80%

  • More than 75 Lakhs

    75%

Home Loan Fees and Other Charges

Transactions & Charges

  • Home Loans : Up-to 1% of the loan amount
  • Other Loans : Up-to 2% of the loan amount

1. Floating rate term loans sanctioned to individual borrowers, with or without co-borrowers(s):

  • Other than business purpose – NIL

  • Business Purpose – 4 % of principal outstanding.

2. Floating rate term loan sanctioned to non-individual borrowers: 4% of principal outstanding paid.

3. Fixed interest rate housing loan given to individual:

  • Closure from own sources – NIL

  • Closure from other sources – 2% of principal outstanding

4. Fixed interest rate non-housing loans (LAP/LRD/CP/GPL/Top-up) given to Individual/Non-Individual borrowers (closed from own/other source): 4% of principal outstanding paid

Explanation:

In case of Semi-Fixed Loans (fixed for initial period and then floating), the Foreclosure/ Part payment norms will be applicable as per the status (fixed/floating) of the loans as on that particular day.

“Own sources” means any source other than by borrowing from a bank/ HFC/ NBFC and/or a financial institution.

“Fixed rate loan” means a loan where the Rate of Interest is fixed either for a particular period or for entire duration of the loan.

“Business purpose loan” shall mean:

  • Loan against any property/ Top up loans availed for Business use such as working capital, business debt consolidation, repayment of business loans, expansion of business, acquisition of business asset.

  • Loan for purchase/ renovation/ construction/ extension of Non-residential property.

  • Lease Rental Discounting.

Penal Charges:
Late Payment Penalty 12% p.a. above current applicable interest rate
(aggregate not exceeding 24% p.a. plus GST as per applicable laws)
Non- submission of Critical Post Disbursement Documents like Title document / Security perfection documents / Mortgage Deed / charge creation with MCA (wherever applicable) or non-adherence to any terms and conditions, representations and covenants as defined in the loan agreement / sanction letter within the targeted date of submission. Rs. 3000/- per month
Cheque bouncing charges/NACH failure charges/Bounce charges Rs 750/- per instance
Non-submission of revised NACH / ECS Debit Mandate registration wherever existing mandate is invalid / inactive / bank account closed or frozen / other technical issue for a period of 30 days Rs. 1000/- per month in case of secured loans
Rs 750/- per instance per loan account
As applicable based on actual delayed status or as communicated by the lender from time to time
CERSAI charges (You may visit the website of CERSAI for all such charges at www.cersai.org.in)
When facility amount is equal to ₹.5 lacs or lesser – ₹.50 per property

When facility amount is greater than ₹5 lacs – ₹100 per property
₹1,000/- per instance
₹750/- per instance
₹200/- per instance
₹750/- per instance
₹50/- per instance for Consumer and ₹500/- for Commercial CIBIL
0.5% of principal outstanding plus applicable GST
Rs 1000/- plus GST per loan account on every rate revision
Rs 500/- per instance
2% of principal outstanding plus applicable GST
As per actual, where applicable
Fees and Other charges (applicable GST @ 18% will be levied on these charges)
Disclaimer:Above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and would be subject to changes from time to time.​​

Documentation

  • 1. Proof of Identity and Address
    Salaried / Self Employed / Professional / Partnership / Company
    Click here to view the list of documents required.

     

    2. Proof of Income
    Salaried
    Latest 3 months salary slip showing all deductions & Form 16
    Self Employed or Professional
    IT Returns or financial documents for last 2 years and computation of income certified by a CA for last 2 years
    3. Bank statement where salary or income is credited
    Salaried
    Latest 6 months
    Self Employed or Professional
    Latest 6 months
    4. Proof of Other Income
    Salaried / Self Employed / Professional / Partnership / Company
    Rental receipts or documents showing receipt of income
    5. Property Documents
    Salaried / Self Employed / Professional / Partnership / Company
    Copy of Title documents and approved sanction plan ​​​​​

Home Loan FAQs

A home loan is a type of a secured loan that is availed by a user from financial institutions to purchase a house. A house loan is repaid by paying regular equated monthly installments (EMI) which includes of a part of the principal taken as a loan and the interest accrued.
You can apply for our housing loans through various options:

  • Download the home loan application form from our website
  • Submit the duly filled form to your nearest branch
  • Pay home loan processing fee
  • Get home loan approval
Aditya Birla Housing Finance provides home loans starting at an interest of 8% p.a. It offers home loan tenure as long as 30 years and maximum loan can be up to 90% of property's cost.
There is no minimum amount of housing loan. The minimum amount is subject to changes as per internal policies and guidelines of ABHFL.
As per sections 80C, 24(b) and 80EEA of the Income Tax Act, you are eligible to receive tax benefits on repayment of home loan principal and interest of your home Loan. Please consult your tax advisor for details.
Given below are some of the crucial factors that determine your home loan eligibility:

  • Income of all applicants.
  • Age of the primary applicant
  • Other income, existing EMIs
  • Stability and continuity of the primary applicant's occupation
  • Repayment Capacity
  • Credit Score
Yes, based on your income eligibility, we can offer you PNI (Property Not Identified) Sanction Letter for your home loan. You can identify the property you need to buy based on this document. The final sanction of your home loan will be based on the assessment of the identified property. However, if the property is under construction, kindly speak to your assigned sales manager for acceptability.
ABHFL’s home loan application procedure is simple. Given below is a guide to home loan application process-

  • Step 1: Home Loan Application
  • Step 2: Loan Document Submission
  • Step 3: Legal & Technical Verification
  • Step 4: Home Loan Approval
  • Step 5: Home Loan Sanction
  • Step 6: Home Loan Disbursement
The following types of home loans are provided in India by Housing Finance Institutions:

1. Home Construction Loan
2. Home Loan for Plot Purchase and Construction
3. Home Extension Loan
4. Home Renovation Loan
5. Construction Finance
6. Loan Against Property
ABHFL offers home loan tenure as long as 30 years and maximum loan can be up to 90% of property's cost.
Housing loans are processed within 15 working days of completing the documentation as required by ABHFL.
All the co-owners of the residential property can be co-applicants to the housing loan.
You may prepay your housing loan before your home loan tenure is completed. Please note that there may be some prepayment charges on home.
No. You don’t require a guarantor for your housing loan. You will need a home loan guarantor in specific situations given below:

  • If the primary applicant has a weak financial position
  • If the applicant wants to borrow a housing loan which is more than his eligibility
  • If the applicant is earning less than the required minimum income
A home loan provisional certificate is your home loan account given by your lender. Home loan provisional statement is a summary of the principal amount and interest repaid by you towards your house loan for the given financial year.
Taking Home loan insurance is not compulsory. It is however suggested that you may take insurance to protect yourself against any unexpected circumstances.

What do we offer?

  • Home Loan

Your home is where you build memories with your loved ones. It’s your own little piece of heaven. ABHFL presents a home loan, especially designed just for you.

  • Home Construction Loan

A plot plus construction loan is primarily meant for those who want to purchase a plot and build a house on that piece of land within the next few years. This kind of loan is disbursed in various installments.​​

  • Signature Club

This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.

  • Home Extension Loan

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements.​​

  • Home Improvement Loan

A home is usually said to be a reflection of its owner. You can now spruce up your home and make renovation a milestone as memorable and enjoyable as home buying. With ABHFL Home Renovation Loans you can upgrade your existing home to a contemporary design and a more comfortable living space.​​

  • Loan Against Property

This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.

  • Step-Up Home Loan

For Young & Budding Professionals, Pay lower EMI Initially and EMI to increase with expected growth in salary for balance tenure.

  • Step-Down Home Loan

Salaried customer having pension income post retirement or joint home loan with one of the coborrower retiring in short time, Pay higher EMI up to retirement and Lower EMI subsequently till balance tenure of the loan.

  • Extended tenure Home Loan

For Senior salaried professionals working in top corporates nearing retirement, Flexibility of Longer repayment periods with reduced EMI.

Your home is where you build memories with your loved ones. It’s your own little piece of heaven. ABHFL presents a home loan, especially designed just for you.

A plot plus construction loan is primarily meant for those who want to purchase a plot and build a house on that piece of land within the next few years. This kind of loan is disbursed in various installments.​​

This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements.​​

A home is usually said to be a reflection of its owner. You can now spruce up your home and make renovation a milestone as memorable and enjoyable as home buying. With ABHFL Home Renovation Loans you can upgrade your existing home to a contemporary design and a more comfortable living space.​​

This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.

For Young & Budding Professionals, Pay lower EMI Initially and EMI to increase with expected growth in salary for balance tenure.

Salaried customer having pension income post retirement or joint home loan with one of the coborrower retiring in short time, Pay higher EMI up to retirement and Lower EMI subsequently till balance tenure of the loan.

For Senior salaried professionals working in top corporates nearing retirement, Flexibility of Longer repayment periods with reduced EMI.

Home loan Loan Against Property Home loan interest rate Home loan eligiblity calculator Home loan emi calculator Documents required for home loan How women can benefit from home loan How to apply for home loan Home Finance FAQs