top of page
Product Details
Bank Name

Aditya Birla Finance Limited

Maximum Loan Tenure

30 years.

Maximum Loan Amount

No upper limit.

Interest Rate

For Self-Employed Applicants
9.10 percent to 14.75 percent p.a.

For Salaried Applicants
8.80 percent to 14 percent p.a.

Type

Floating.

Home loan
Down Payment

Below 30 lakhs, the LTV ratio can be a maximum of 90%.
Between 30 lakhs to 75 lakhs, the ratio can be a maximum of 80%.
Above 75 lakhs, the ratio can be a maximum of 75%.

Fees and Charges

Processing fee: Up to 1% of the loan amount.
Prepayment fee: No charge for individual borrowers for floating rate home loans.
Penal Fee On Late Payment: 2% per month on overdue amount.
Legal Fee: At actuals.
Stamp Duty And Registration Charges: At actuals.

Minimum CIBIL Score

Not specified.

Down Payment and Fees

Home loan

Special Features

0 prepayment penalty on floating rate home loan.

Eligibility Criteria

To answer your question about Aditya Birla Housing Finance Limited (ABHFL) home loan eligibility criteria, I need to break it down based on several factors:

1. Type of applicant:

  • Salaried:Age: Minimum 21 years, Maximum 60 years at loan maturity.
    Income: Regular salary with PF deduction or IT returns filed for at least 2 years.
    Employment stability: Consistent employment with reputable organization preferred.

  • Self-employed:Age: Minimum 21 years, Maximum 70 years at loan maturity.
    Income: Proven business income through IT returns or audited financial statements for at least 2 years.
    Business stability: Established business with strong financials preferred.

2. Loan amount and property:

  • Loan amount: Up to 75% for property value below Rs. 75 lakhs, 80% for property value between Rs. 75 lakhs and Rs. 3 crores, and 75% for property value above Rs. 3 crores.

  • Property type: ABHFL generally finances residential units like apartments, independent houses, and plots for construction. Certain specific projects or schemes might have additional criteria.

3. Other important factors:

  • Debt-to-Income Ratio (DTI): Ideally below 40% to demonstrate affordability.

  • Credit score: While a CIBIL score of 750+ is preferred, responsible past loan repayments and no defaults could lead to approval even with a slightly lower score.

  • Location: ABHFL operates in many Indian cities, but loan availability and criteria might vary depending on the specific location.

Special Concession

No special concession.

Home Saver Option

No.

Features, Eligibility and Concession
Pros
  • It has a high LTV ratio of 90%, which means you can get a higher loan amount with a lower down payment. 

  • It has a long tenure of up to 30 years, which can make your EMI more affordable. 

  • No prepayment penalty. 

  • Easy application process, approval, and eligibility norms on a digital platform.

Cons
  • It has a high processing fee. 

  • Loan comes with a a number of ancillary fees such as: login fee.

  • It does not have a home saver option, which means you cannot save on interest by linking your home loan account with your savings or current account.

  • Interest rate is higher that of most PSU banks.

Pros & Cons
Aditya Birla Finance Limited Home loan

Aditya Birla Finance Limited (ABFL) offers home loans with competitive interest rates and a transparent processing system. However, potential borrowers should consider that it does not provide home saver option.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
bottom of page