Sundaram Finance Home Loan
About Sundaram Finance Limited
Sundaram Finance Limited, has been providing financial services to Indians in the areas of Commercial Vehicle Finance, Construction equipment Finance, Car Finance, Tyre Finance, Tractor Finance, Fleet Card, etc. Apart from finances that Sundaram Finance Limited has to offer the organization also has a rich presence in the areas of General insurance, Business process outsourcing, Mutual Funds, Housing Finance, Information technology, Retail distribution etc.
The company has a tie-up with renowned firms such as Royal & Sun Alliance, UK for general insurance and BNP Paribas, France for housing and Fund services. Sundaram Finance’s alliance with leading organizations has given Sundaram Finance Ltd an outstanding international exposure making Sundaram Finance a world-class financial services corporation to meet the needs of many Indians in a world-class manner.
Sundaram Finance Limited aims to provide home loans for both informal as well as formal section of society residing in our country. This aim of providing home loans Indians coming from all walks of life eventually led to constitution of Sundaram Home Finance Limited dated 2nd July, 1999. Sundaram holds a certification of registration under Section 29A of NHB ACT 1987 from National Housing Bank. Sundaram BNP Paribas Home Finance with its know-how in the field of housing finance along with the good work practices of its parent organization Sundaram Finance Limited have thrived together to meet the needs of many Indians with an aim to provide shelter in form of Home to many lives.
Apply for home loan at Sundaram Finance for following purposes
- For construction of a house on your plot of land.
- For purchase of an apartment/row house, bungalow from a builder.
- For purchase a existing freehold properties apartment/row house, bungalow.
Some Benefits and Features of availing Home Loans at Sundaram Finance
You can avail home loans depending on the amount of the home loan required for purchase of your home. The loan amount that will be sanctioned as a loan towards your home loan is directly proportional to the value of the property you wish to purchase. The loan amount sanctioned is always subject to the total evaluation of the property and repayment capacity of the customer which is assessed by Sundaram BNP Paribas Home Finance Limited at the time of perusal of your documents, credit history and also evaluation of your property.
- If you are applying for housing loans upto Rs. 20 Lakhs 85% of the total cost of your property will be sanctioned as the loan amount and the rest you will have to bear as an advance payment towards your loan.
- If you wish to apply for Housing loans above Rs. 20 Lakhs and upto Rs. 75 Lakhs, 80% of the cost of the property will sanctioned as the loan amount towards the purchase of your property.
- If you wish to apply for Housing loans above Rs. 75 Lakhs, 75% of the cost of the property will be sanctioned as the loan amount towards the purchase of your property.
- Loan tenure for Salaried is around 20 years or the age of retirement, whichever is earlier.
- Loan tenure for a Self Employed individual is around 15 years or 65 years, whichever is earlier.
- Loan tenure for NRI‘s is around 15 years or the age of retirement, whichever is earlier.
Types of Sundaram Home Loans
Sundaram Finance - Home Extension Loans
Home extension loans are loans that can be availed for meeting the requirements related to the extension of your home in any manner which includes adding an additional room to your existing home, or put up an additional floor in your home, or any other extension required for your house. You can meet 100% financial requirement by availing “Home Extension Loans” by submitting the cost estimated which however depends on the valuation of your property as well as your repayment capacity as assessed by Sundaram BNP Paribas Home Finance Limited.
Sundaram Finance - Home Improvement Loan
You can plan on availing “Home Improvement loans” at Sundaram finance if you wish to carry out any internal or external repairs to home. You can meet 100% financial requirement by availing “Home Extension Loans” by submitting the cost estimated which however depends on the valuation of your property as well as your repayment capacity as assessed by Sundaram BNP Paribas Home Finance Limited.
Sundaram Finance – Land Loans
You can avail a land loan with help of Sundaram Finance if you wish to purchase a land followed by the construction of your dream home on land you want to purchase. The loan amount financed through land loan for purchase of a land will be equivalent to the 75% of the cost of the land you wish to purchase which is again subject to valuation of the property and repayment capacity of the customer which is duly assessed by Sundaram BNP Paribas Home Finance Limited. Salaried and NRI can avail loan for a loan term of 10 years or the age of retirement where as the self-employed individuals can avail loans for loan tenure upto 10 years or 65 years of age whichever is earlier.
Loan against Property (LAP)
Sundaram Finance offers an opportunity where you can avail a loan against your residential as well as commercial property for any personal or a business purposes for a period of around 10 years depending on your repayment capacity. You can avail a loan against property equivalent to 50% of the value of your property.
Sundaram Finance – Approved Projects & Properties for Sale
At Sundaram Finance, you can avail pre-approved projects as well initiate purchase of properties on sale at Sundaram Finance which eases your search of a property by providing you a property which has been certified and valuated by Sundaram Finance and putting an end to the search of property.