FREQUENTLY ASKED QUESTIONS (FAQs)

ABHFL provides special features such as:

• Easy online application process, quick approvals and instant eligibility
• Door step services with simplified documentation
• Choose between simple EMIs or structured repayments
• Attractive balance transfer option available to transfer your existing loan to us without any hassles
• Nil pre-payment charges for floating rate home loan given to individuals

These features make the Home Loan from ABHFL much more attractive as against the other lenders.

It is decided based on your repayment capacity & up to 90% of the property value. Your repayment capacity depends on the following factors:

• Income of all applicants.
• Age of the primary applicant.
• Other income, existing EMIs,
• Stability and continuity of the primary applicant's occupation.

Yes, you can avail of a loan for any of the following purposes:

• Purchase of a home
• Construction of a home
• Home repairs
• Home improvements
• Home extension
• Plot purchase + home construction

There is no minimum amount of loan.

The minimum amount is subject to changes as per internal policies and guidelines of ABHFL.

You will need to submit the following self-attested documents:

ABHFL may request you for additional documents for processing your loan.

You will have to submit the documents along with your application form.

ABHFL requires a mortgage of the property for which the loan is being taken. The title of the property should be clear & marketable & free from any encumbrance as certified from ABHFL's approved advocate. This is done to safeguard your interests as well as ABHFL's interests. Along with title search report you will also be required to submit a valuation report. Additional security may be required if the aforesaid criteria are not met.

The tenure of your home loan ranges upto 30 years. The term, however, does not extend beyond the retirement age or 60 years whichever is earlier.

Yes, it is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the home loan. If you are the sole owner of the property, any member of your immediate family can be the co-applicant.

Yes, your incomes can be clubbed for the purpose of calculation of the loan amount. You will have to provide proofs of the same to be considered for calculation of the loan amount.

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.

The approval will be valid for 90 days from the date of sanction. However, if the loan is not drawn within 30 days of issuance of the sanction letter, a fresh sanction letter needs to be obtained.

Loans are processed within 15 working days of completing the documentation as required by ABHFL.

The interest is calculated on monthly reducing balance at the prevailing rate of interest (ROI) of your loan. ABHFL offers floating interest rates linked to our internal floating reference rate (referred to as ABHFL Reference Rate - ARR). Click Here

ARR is the benchmark long term reference rate. This is determined by the market conditions and the cost of funds for the company. It changes depending on various external factors, economic conditions and business specific changes.

As per our re-pricing policy, interest rates are reviewed from time-to-time and a decision is taken whether to change the interest rates or not.

Yes, you can transfer your current outstanding home loan to ABHFL. Please select "Refinance" option while filling up the form. You can also avail an additional Top-Up loan.

Due to increase in income, decrease in existing outstandings or additional anticipated expenses, if you wish to increase the loan amount and take a cash-out, you can do so by applying for a Top-up loan.

You can get an additional loan while transferring it to ABHFL. The eligible loan amount will be based on home loan eligibility criteria as mentioned in Question 3 above.

Yes initial non-refundable processing fee is charged for every home loan application. The processing fee to avail home loan is upto 1% of loan amount plus applicable taxes

There may be. To check the schedule of charges associated with transactions, Click here.

You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take the full disbursement.

Pre-EMI interest is the interest on the loan amount disbursed. It is payable every month from the date of each disbursement until the commencement of the EMI payments.

You can make repayment through NACH.

Yes, resident Indians are eligible for tax benefits on both the principal and the interest of a home loan under the Income Tax Act. Please consult your tax advisor for details.

Yes, you can repay loan ahead of schedule. Refer Most important terms and conditions for charges

You can read more about our governance guidelines here.

Any unbanked/unused cheques i.e. Post Dated Cheques/Un-Dated Cheques/Security Post Dated Cheques in custody of ABFL or ABHFL will be cancelled and shredded/destroyed, without any intimation to the customer, after the closure of the loan account.