Repco Home Finance
Home Loan

Repco Home Finance Limited is a housing company registered with National Housing Bank with its head office in Chennai. It is now operating in various States with 155 branches spread all over. Since the time it was established in 2000, RHFL has been working on improving customer service and also in introducing cost-effective innovative products. The Company intends in making its presence in the markets that are not reached out by other financing companies. The main objective of the Company is to convert the dream of individuals to own a house by providing customised products to suit the individual needs. Repco Bank Home Loan is a cost-effective product with flexible repayment options.

The key features of Repco Bank Home Loan are:

• Highly satisfactory customer service
• Variety of  schemes under home loan to suit individual  requirement
• Transparency 
• Quick approval
• Reliable risk management system
• Cost-effectiveness
• The assistance of a highly qualified and trained team to make the loan availing process hassle-free
• Flexible Repayment Options up to 20 years for the self-employed and 25 years for salaried individuals.
• Tax benefit applicable for both the principal and interest as per the Income Tax Act 1961
• Simple documentation that is not time-consuming.
• The loan amount is not limited and depends on the repayment capacity of the borrower and the value of the property.
• Subsidy under PMAY Scheme is available for borrowers wherever eligible.

Also Read - Home Loan Tax Benefit

Repco Housing Finance Limited has been striving hard to help convert the dream of owning a home by providing finance at a very low-interest rate with flexible repayment options. The Repco Bank Home Loan Interest Rates starts at 7.70% p.a.(floating). The interest rates depend on the customer’s profile, repayment capacity, credit score, property and purpose.

Additional Info: Also check Repco Home Finance EMI Calculator

There are various types of loans under the Repco Bank Home Loan Scheme to suit the requirement of the customer.

Dream Home Loan

Home Makeover Loan

Repco Plot Loan

NRI Home Loan

Prosperity Loan

Repco Rural

New Horizon Loan

Commercial and Real Estate (CRE) Loan

Also Read - Types of Home Loans Offered by SBI

The eligibility norms set out for Repco Bank Housing Loan is as follows:

• Salaried individuals, self-employed individuals, business people, professionals can apply for the loan.
• The applicant’s minimum age should be 18 years at the time of applying for the loan and a maximum of 70 years at the time of maturity.
• Should have a satisfactory credit score with no warning signals in the credit report.
• The applicant should have a regular and steady source of income.
• Both resident and non-resident Indians are eligible for the loan.

Also Check - HDFC Bank Home Loan Eligibility

Repco Bank Home Loan documents  required are given below:

KYC Documents

• Address Proof: Aadhar Card, Passport, Voter’s ID Card, Utility bills
• Photo ID Proof: PAN Card, Passport, Aadhar Card, Driving Licence.

Income Proof for Salaried Individuals

• Employer Id Card
• Latest salary slips (last six months)
• Bank Account Statement showing salary credit for the last six months.
• Latest Form 16
• Latest ITR

Income Proof for the self-employed

• Audited balance sheet and profit and loss account for the last three years
• ITR with income computation for the previous three years
• Proof of business like registration certificate, GST Certificate, Memorandum of Association, Articles of Association, Certificate of Incorporation, Partnership Deed

Property Documents

• Mother deed along with the present title deeds
• Latest Tax Paid Certificate
• Approved Building Plan. Approved Layout Plan, Order of Regularisation, Required permissions from competent authorities wherever applicable.
• Revenue  Records/Patta transferred in the name of the titleholder.

Other documents

Existing Loan details and sanction letter copies along with loan account statements

Documents for NRIs

• Passport along with VISA, Work permit, Residence ID
• Latest salary certificate with overseas account bank statement for the last six months
• Proof of money transfer to India: NRE/NRO Account Statement
• Registered Power of Attorney as per Repco Housing Finance Limited format.

Also Check - Documents Required for HDFC Home Loan

The schedule of charges for Repco Bank Housing Loan is given below:

Also Read - Home Loan Processing Fees of All Banks/NBFC

You can contact the customer care of Repco Housing Finance Limited by calling the numbers given below or by writing to the email ID mentioned below.

Toll-Free No: 1800-425-6070

Landline Number: 044-42106650, 044-42106652

Mobile Number: 9444394918

Email address: co@repcohome.com

Also Check - HDFC Home Loan Customer Care

To apply for the Repco Bank Home Loan at MyMoneyMantra, you will have to access the online home loan application on the website of MyMoneyMantra and complete the application as given below:

• Choose the gender.
• Choose the city of residence and the location of the property.
• Mention the purpose of the loan
• Give details of employment and income.
• Provide the market value of the property.
• Mention the loan amount.
• Give the required personal details like name, date of birth, PAN, contact address etc.
• Provide the Email ID and mobile number
• An OTP will be sent to the mobile number.
• Enter the OTP, and on validation, you will be directed to a page with collated details of the best offers.
• Choose RFHL Housing Loan.
• The representatives of MyMoneyMantra will contact you and will assist you further with the loan process till the release of the loan amount.

Also Read - What Happens When a Home loan Borrower Passes Away?