Repco Home Finance Limited (RHFL) provides home loans starting from 9.50% interest per year for periods of up to 25 years. It's a company that helps people buy homes and is approved by the National Housing Bank. They offer different types of loans and make sure customers are happy with their service.
Repco Home Finance Loan Highlights |
|
|---|---|
| Interest Rate (floating) | 9.50% p.a. onwards |
| Loan Amount |
|
| Loan Tenure | Up to 25 years |
| Processing Fees | 1% of the loan amount |
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
Repco Home Finance offers home loans starting at an interest rate of 9.50% per annum. However, the actual interest rate you receive depends on various factors such as your age, monthly income, job profile, employer's income, credit score, and loan repayment history.
NRI Housing Loan
Purpose: This loan is specifically for non-resident Indians (NRIs) who want to buy or build property.
Loan Amount: NRIs can get up to 85% of the construction cost or up to 80% of the purchase price for a residential property.
Tenure: 10-15 years
Fifty Plus Loan
Purpose: This loan is for salaried individuals, especially government employees, who are over 50 years old and want to buy or build a property.
Loan Amount: Up to 85% for construction and up to 80% for purchase
Tenure: 20 years (repayment has to be completed by the age of 70 years)
Home Makeover Loan
Purpose: You can use the loan for remodeling, repairing, renovating, or altering your home property.
Loan Amount: You can get up to 70% of the estimated renovation or repair cost, or up to 50% of the post-renovation value of the building.
Tenure: You have up to 10 years to repay the loan.
Plot Loan
Purpose: You can use the loan to buy a vacant plot of land.
Loan Amount: Up to 75% of the cost of the plot.
Tenure: 10 years
Composite Loan
Purpose: This loan combines financing for both purchasing a plot of land and constructing a house on it.
Loan Amount: Up to 75% of the plot cost and up to 85% of the construction cost
Tenure: 25 years
Dream Home Loan
Purpose: You can use the loan for buying, selling, or reselling a property.
Loan Amount: You can get up to 85% of the construction cost or up to 80% of the house/flat purchase cost.
Tenure: You have up to 25 years to repay the loan.
Repco Privilege Loan (Takeover + BT/Top-up Loan)
Purpose: Repco Home Finance offers the opportunity for customers to transfer or takeover their existing loans at a lower interest rate.
Tenure: Up to 2 years
Repco Bonanza 2020
Purpose: This loan scheme is tailored for self-employed and salaried professionals with credit scores above 700 who want to buy, mortgage, or build a house.
Tenure: 25 years
Repco Nivaran 2020
Purpose: This is a loan designed to help existing customers address business development and liquidity needs that have arisen due to COVID-19.
Tenure: 10 years
Also Read : Best Home Loan EMI Calculator
| Particulars | Charges Applicable |
|---|---|
| Processing fees | 1% of the loan amount |
| Prepayment charges | NIL |
| Legal opinion fee | NIL |
| Administrative fee | 0.50% of the loan amount |
| CIBIL charges | Rs 100 per individual |
| EC, Cheques and ACH bouncing charges | Rs 250 |
| Account Statement | Provided free of cost only once for each financial year. Further, Rs 100 is charged for each copy. |
| Rate of interest conversion charges |
|
| Valuation report charges |
|
| CERSAI Charges |
|
Also read: Best Home Loan Fees and Charges
- You must be an Indian resident, except for NRI housing loans.
- You should be at least 18 years old.
- Your age should not exceed 70 years at the time of applying for the loan.
Also Read : Best Home Loan Eligibility
- ID proof
- Address Proof of the applicant
- Recent passport-sized coloured photographs
For salaried individuals:
- Form-16
- Last six months salary slips
- Employer ID card
For self-employed individuals:
- GST returns for the past 6 months
- Property documents
- Last 3 years income tax returns documents
- Business Registration Certificate
- Last 6 months bank statements of business accounts
- Details of any current loans you may have
For NRI Individuals:
- Current salary statement
- Passport/Visa/Work Permit
- Proofs for money transfer to India
Also Read : Best Home Loan Documents Required
1. What is the time limit for availing the sanctioned loan?
You can use the sanctioned loan within 60 days from the date it's approved.
2. What is the minimum credit score required to avail home loans from Repco Home Finance?
Repco Home Finance doesn't mention a specific credit score requirement for getting a home loan. But usually, if your credit score is 750 or higher, you're more likely to get approved. And if you have a good score like that, you might even get a lower interest rate on your loan.
3. How long does it take for the disbursement of home loans availed from Repco Home Finance?
It usually takes Repco Home Finance around 4 to 7 working days to give you the money for your home loan once they have all your documents. Their representative will visit you to collect all the legal and property papers, loan documents, and post-dated cheques. Then, a lawyer approved by Repco Home Finance will check all the legal and property documents. An officer from Repco Home Finance will also visit your property. Once everything checks out and you've given any additional security they need, they'll prepare the cheque for you.
Also read: Best Home Loan Balance Transfer
4. Who can be the co-applicant to my home loan availed from Repco Home Finance?
You can apply for a home loan from Repco Home Finance along with your spouse as a co-applicant. This means both you and your spouse will be responsible for repaying the loan together.
5. What is the turnaround time for the sanction of home loan availed from Repco Home Finance?
Repco Home Finance usually takes about 4 to 7 working days to say "yes" or "no" to your home loan application once they have all your documents and processing fee. They might send someone to check the information you've given and then they'll look at your papers and decide if they can lend you the money. If they say yes, they'll send you a letter with a list of papers you need for the loan.
6. Can I choose between fixed and floating rates?
Repco Home Finance provides home loans with floating interest rates only.