Aditya Birla Housing Finance Loan Against Property

Aditya Birla Finance loan against property can be availed for any personal or business needs. You can get a loan of up to 60% of the property value if the property is commercial and up to 70% for residential property. The loan can be availed of at an affordable interest rate starting from just 9% p.a. and a processing fee of up to 2% of the loan amount. The borrowed amount can be repaid in a tenure of up to 20 years. There are no prepayment charges for floating interest-rate loans.

Updated: 21-01-2025 11:03:37 AM

Aditya Birla Housing Finance Loan Against Property - Features & Benefits

Following are the main features and benefits of Aditya Birla Housing Finance Loan Against Property:

Employment type	Salaried or self-employed
Property type	Residential, commercial, industrial & warehouse property
Loan amount	Up to 60% of property value for commercial property & up to 70% for residential property
Rate of interest	9% p.a. onwards for salaried/self-employed professionals & 9.25% p.a. onwards for self-employed non-professionals
Processing fee	Up to 2% of the loan amount
Tenure	Up to 20 years
Prepayment charges	Nil if closed after the lock-in period of 24 months, otherwise 4% of the principal outstanding amount.
Credit score	650 or above and new to credit (NTC)
Age	Minimum 21 years

Table of Contents: Aditya Birla Loan Against Property[Hide]

Interest Rates
Top Banks
Fees & Charges
Eligibility Criteria
Documents Required
FAQs

Aditya Birla Housing Finance Loan Against Property Interest Rates

Aditya Birla loan against property interest rates depends on the loan amount, tenure, borrower’s credit score, repayment capacity, and other factors. Following are the standard interest rates offered by Aditya Birla Capital on loans against property:

Property Type	Rate of Interest (p.a.)
Residential property	9% - 16.5%
Commercial property	9.50% - 17.5%
Industrial property	10% - 12.60 %
Residential plot	9% - 16.5%

Compare Loan Against Property Interest Rates for Top Banks

Below is the comparison table of Aditya Birla's loan against property interest rates with other top lenders to help you choose the best option:

Lender	Interest Rate (p.a.)
Aditya Birla Housing Finance Limites	9% - 17.5%
HDFC Bank	9.50% - 11%
IDFC First Bank	9.25% onwards
HSBC Bank	9.45% onwards
Kotak Mahindra Bank	9.50% onwards
PNB Housing	9.24% - 12.45%
State Bank of India	10.45% - 12%
Federal Bank	12.60% - 13%
Home First	12.80% - 18.50%
Bank of India	10.10% onwards
Bank of Baroda	9.95% - 15.75%
IDBI Bank	9.60% - 11.55%
Central Bank of India	9.75% - 13%
Bank of Maharashtra	10.95% - 11.95%
Jammu & Kashmir Bank	10.95% - 11.45%
South Indian Bank	13.15% - 14.05%
Bajaj Finserv	9% - 12%
ICICI Bank	10.85% - 12.50%
Canara Bank	10.30% - 12.80%
TATA Capital	9% onwards
UCO Bank	10.25% - 12.00%
Axis Bank	10.50% - 10.95%
Bajaj Housing Finance	9.40% - 18%
Indian Overseas Bank	10.40% - 11.40%
IndusInd Bank	9% - 13%
Standard Chartered Bank	9.50% onwards
Union Bank of India	10.45% - 12.35%

Aditya Birla Housing Finance Loan Against Property Fees and Charges

Following are the fees and charges associated with Aditya Birla loan against property:

Type of Charge	Description
Processing fee	Up to 2% of the loan amount
Prepayment charges	4% of the principal outstanding amount if closed within a lock-in period of 24 months
Part prepayment charges	Up to 4% of the part payment in access of 25% in a given financial year
Default penal interest rate	24% p.a. (2% per month)
Cheque return/ ECS/ SI/ NACH failure charges	Rs. 1,000 per instance
Loan cancellation charges	4% of the sanctioned loan amount
Closure charges for OD/LOC	4% of the prevailing limit at the time of closure
Request for copies of collateral documents held with ABFL	Rs. 2,500 per instance
Duplicate statement/ repayment schedule/ any other document held with ABFL request	Rs. 200 per instance
Duplicate FC statement request	Rs. 1,500 per instance
Duplicate RTR request	Rs. 1,000 per instance
Charge for exchanging PDCs, security cheques (per set)/ ECS/ NACH	Rs. 1,000 per instance
CIBIL/ credit report retrieval fee	Rs. 50 per instance for consumer & Rs. 500 for commercial CIBIL/ credit report
Loan rescheduling charges	2% of the prevailing loan outstanding per instance
NOC issuance charges	Rs. 1,000 per instance
Swap/ conversion charges (fixed rate to floating & vice-versa	3% of the prevailing loan outstanding per instance
Property swap charges	3% of the prevailing loan outstanding
Stamp duty, legal & other statutory charges, insurance premium, creation charge with ROC	As per actual, where applicable

Eligibility Criteria for Aditya Birla Housing Finance Loan Against Property

Nationality	Indian citizen
Employment type	Salaried, self-employed professional & self-employed non-professional
Property type	Residential, commercial, industrial & warehouse property
Minimum age for applying	21 years
Maximum age at loan maturity	60 years for salaried & 70 years for self-employed
Credit score	650 or above, new to credit (NTC)
Loan to value (LTV)	Up to 60% of the property value for commercial property & up to 70% for residential property

Documents Required for Aditya Birla Housing Finance Loan Against Property

Documents List for Salaried Applicants

Proof of identity & address	Passport Aadhaar Card Voter's ID Driving License Job Card issued by NREGA Registration certificate PAN Card (only as identity proof)
Proof of income	Salary slip for the last 3 months showing all deductions & Form 16
Bank statement showing salary	Latest 6 months
Proof of other income	Rental receipts/ documents showing receipt of income
Property documents	Copy of title documents & approved sanction plan

Documents List for Self-employed Applicants

Proof of identity & address	Passport Aadhaar Card Voter's ID Driving License Job Card issued by NREGA Registration Certificate PAN Card (only as identity proof)
Proof of income	Income Tax Returns/ financial documents for the last 2 years & computation of income certified by a CA for the last 2 years
Bank statement where income is credited	Latest 6 months
Proof of other income	Rental receipts/ documents showing receipt of income
Property documents	Copy of title documents & approved sanction plan

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Pre-Approved Loan Against Property @9% p.a

Up to Rs. 15 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applying for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holidays and much more. Higher loan amounts are available for select customers.

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Aditya Birla Housing Finance Against Property FAQs

What is the interest rate of Aditya Birla Housing Loan Against Property?

The interest rate of Aditya Birla Housing Loan Against Property starts from 9% p.a. for salaried/self-employed professionals and 9.25% p.a. onwards for self-employed non-professionals.

Can you get a 100% loan against property from Aditya Birla Housing?

No, Aditya Birla Housing Finance Limited offers the maximum loan amount of up to 70% of a residential property's value and up to 60% of a commercial property’s value.

How can I increase the chances of getting a higher loan against property?

A higher credit score can help you secure a higher loan against property amount, longer repayment tenure and even lower interest rates.

How much credit score is required for a loan against property?

Applicants with a CIBIL score of 650 or above and also new to credit (NTC) are eligible for an ABHFL loan against property.

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