Hero Housing Finance Home Loan

Below are the key details of Hero Housing Finance home loans:

Hero Housing Finance rate of interest for home loans starts from just 10% - 18% p.a. and largely depends on the repayment capability of the applicant and the type of loan chosen.

HHFL has not mentioned differential home loan interest rates based on the borrower’s credit score, monthly income, loan amount, employment and employer’s profile, etc. However, the lender may consider these factors when determining its home loan interest rates, just like other lenders do.

Below is the comparison table of Hero Housing Finance home loan interest rates with other top lenders in India, to help you choose the best option:

Following are the processing fee and other charges associated with the Hero Housing Finance home loan:

The fastest way to calculate your Hero Housing Finance home loan EMI is by using the online Hero Housing Finance EMI Calculator, which is available on our website for free. All you need to do is enter a few basic loan details like the required loan amount, rate of interest and tenure to know your home loan EMI instantly.

Along with EMI, this tool also provides the entire amortisation schedule for your complete loan tenure.

• Purchase of New Property: Finance for salaried or self-employed profiles to purchase different kinds of properties. 
• Renovation or Extension: Finance for renovation, expansion or repairing of an existing home. 
• Home Loan Balance Transfer: Transfer your existing outstanding home loan amount from another bank/financial institution to HHFL for lower interest rates and top-up loans.
• Home Construction Loan: Loans for constructing a home of your own with zero complications.

The following are the eligibility criteria for Hero Housing Finance Home Loan:

• Eligible profiles: Cheque salaried, cash salaried, self-employed professional, and self-employed non-professional (ITR based, assessed income/ informal income program, banking based).
• Minimum age: 21 years 
• Maximum age: 60 years for salaried and 65 years for self-employed.
• Minimum CIBIL score: 650 or above; NTC.
• Minimum property area: 150 sqft.
• Maximum loan amount eligibility: 75% to 90% of the property's market value

Documents required for salaried:

• Identity proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Address proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Relationship proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Age Proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO

Income documents:

Last 2 months' salary slip (6 months in case of variable)

• Latest year Form 16
• Bank statements for the last 3 months reflecting salary credits
• Appointment letter with salary breakup if the current employment is less than 1 year old
• Property-related documents (if the property has been identified): Previous chain of at least the last 13 years
• Details of current loans: Bank statement reflecting the last 6 months' EMI payment/ SOA of running loans

Documents required for self-employed: 

• Identity proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Address proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Relationship proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO/ Voter ID Card issued by EC
• Age Proof: Aadhar Card/ E Aadhar issued by UIDAI/ Valid Passport/ PAN Card/ Driving License issued by the RTO
• Income documents: Latest 12 months’ bank statement of all active business accounts
• Property-related documents (if the property has been identified): Previous chain of at least the last 13 years
• Details of current loans: Bank statement reflecting the last 6 months' EMI payment/ SOA of running loans

NOTE: All documents must be self-attested. The above list of documents is indicative in nature and additional documents can be asked for.