Poonawalla Housing Finance Housing Loan
Home Loan FAQ

Festive offers on Home Loan

Attractive interest rates just
starting @ 9.50%* p.a.

Flexible Repayment Tenure

Flexible Repayment
Tenure

PMAY Subsidy

PMAY Subsidy
Up to ₹2.67 lakh*

What is a Home Loan and how does the process work?

A home loan is a secured loan/credit option provided for housing purposes like purchase, construction, extension, or renovation of residential property. The loan eligibility largely depends upon several factors like employment, annual income, credit score, and more. Post verification of your eligibility and property documents, the loan is disbursed. Then, your Equated Monthly Instalment (EMI) will start for the availed home loan repayment. A home loan is said to be closed when the principal and interest component is completely paid off by the borrower either until the end of loan tenure or by way of prepayment.

How to apply for Poonawalla Housing Finance Home Loan?

a. You can apply for our Home Loan through a simple and hassle-free online application:

  • Click on Apply online and fill in a loan application form with your basic details
  • Submit your KYC, Income & Property documents, and Bank account statements to check your loan eligibility
  • There will be a quick verification and assessment of your documents
  • We’ll follow a quick process to approve your loan application
  • Once approved, your home loan will be instantly transferred to yours or the builder’s bank account, as per your request.

b. You can call us on our Toll-Free Number 1800-266-3204 and talk to our representative for personal assistance.

c. Or you can visit us at our branch near you, click here to locate the address.

What is the minimum loan amount that I can borrow?

We provide home loans starting from ₹ 5 Lakhs onwards.

Can I use Home Loan for renovation and improvement?

Yes, you can renovate, modify or make improvements to your house with our Home Loan offering.

What are the types of Home Loans provided?

With Poonawalla Housing Finance Home Loans, you can do more than just buying a home! We provide loans for self-construction of Bungalows / Independent Houses, purchase of new Houses / Flat / Villas, or for purchases of re-sale Houses / Flats / Villas / Bungalows. You can also avail of our home loan for flat extension/renovation/improvement.

Do I get any tax benefits on Home Loan?

Yes, if you’ve opted for the old tax regime, your home loan is eligible for tax deductions under section 80C. You can claim a deduction of up to ₹ 2 Lakh and up to ₹ 1.5 Lakh for principal repayment.

What is the Home Loan interest rate at Poonawalla Housing Finance?

Our home loan offering come with affordable interest rates starting at 9.50% p.a.

How do I calculate my Home Loan EMI?

To calculate easy monthly instalments for the home loan amount you want to apply, you can use our simple and effective Home Loan EMI Calculator. All you need to do is enter these 3 important components:

a. Home Loan Amount

b. Loan Repayment Tenure

c. Interest rate

What are my Home Loan tenure options?

At Poonawalla Housing Finance, we offer you longer loan repayment tenure of up to 30 years.

Is there any age limit to apply for Home Loan?

Yes, to avail of our Home Loan, the applicant must meet the defined age criteria:

  • Salaried or self-employed individual must be minimum 21 years at the time of loan application and maximum 60 years at loan maturity.
  • Proprietor/director of firm/company, should be minimum 25 years at the time of loan application and maximum 65 years at loan maturity.
Is there a property insurance required for Home Loan?

There is no stated obligation for the applicant to take property insurance. But it is highly recommended, as buying home loan insurance offers security that covers the loan borrower’s outstanding loan liability if he/she dies during the loan repayment term.

How to get a Home Loan statement?

To get your home loan statement or if you have any other query, you can drop an email at customercare@poonawallahousing.com or call us on 1800-266-3204. Our Customer Care support team is just a call away for all your needs with regards to your loan with us.

Can I get a Top Up Loan facility with Poonawalla Housing Finance?

Yes, we do provide a Top Up Loan to our existing customers, allowing them to borrow a certain amount over and above their existing home loan with the benefit of attractive interest rates and longer tenures.

What are the documents needed to avail a home loan?

As we provide Home Loan for salaried individual, self employed individuals and companies, you can check the complete list of documents required as per your applicant category in our Eligibility and Documents section.

What are the eligibility criteria for Home Loan?

We have different eligibility criteria for salaried individuals, self-employed individuals, and firms / companies. To know and understand your eligibility criteria, please refer to our Eligibility and Documents.

How can I check my Home Loan eligibility?

To know if you are eligible for Poonawalla Housing Finance Home Loan offering, refer to our Eligibility and Documents. section. You can contact us on our Toll-Free Number 1800-266-3204 or visit our nearest branch for personal assistance.

Who all are eligible for a Balance transfer loan?

We provide Home Loan for salaried individuals, self-employed individuals, and companies starting at 9.50% p.a. To know the detailed eligibility criteria as per your applicant category, kindly click and refer our Eligibility and Documents section. You can also enjoy the advantage of lower monthly payments by transferring your outstanding home loan availed from other banks/financial institutions to Poonawalla Housing Finance.

What are the benefits of availing Poonawalla Housing Finance Home Loan?

Our Home Loans are designed to cater to a wide range of housing needs of our customers, be it the purchase of residential construction / under-construction projects, extension, or renovation of property. Finance your housing dream with our home loans involving quick processing and unmatched benefits such as:

  • Affordable loans starting from as low as ₹ 5 Lakhs
  • Simple eligibility criteria and minimum documentation
  • Flexible repayment tenure up to 30 years with no foreclosure charges
  • Completely transparent loans with zero hidden charges
  • PMAY scheme with maximum interest subsidy of up to ₹ 2.67 Lakhs
  • End-to-end doorstep service
Can I have a co-applicant for Home Loan? Who can I include?

Yes, you can avail Poonawalla Housing Finance Home Loan with a co-applicant who can be your immediate family member. This helps to make you eligible for a significantly higher loan amount while sharing the loan repayment and availing higher tax benefits.

How to Apply for Home Loan In 5 Easy Steps?

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Apply Online Logo
Apply
Online

Apply Online

On the application form, fill in your basic details

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Submit
Documents

Submit Documents

Submit your KYC, Income documents, and Bank account statements

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Verification

Verification

We’ll do a quick verification and assessment of your documents

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Quick
Approval

Quick Approval

We follow a quick process to approve loan applications

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Easy
Disbursal

Easy Disbursal

That’s it! Your Home Loan will be instantly disbursed

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