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FAQS

What is a Viva Home Finance Limited?

A Housing Finance Company registered under the Companies Act, 1956 (1 of 1956) and holding certificate of National Housing Bank. Its principal object is of providing finance for housing.

What are the types of Loan?

  • FOR HOME PURCHASE
  • FOR SELF CONSTRUCTION
  • FOR HOME RENOVATION / IMPROVEMENT / EXTENSION
  • FOR INSTALLATION OF SOLAR PANEL FOR WATER OR LIGHTING
  • FOR ENERGY EFFICIENT HOUSING / GREEN INITIATIVE
  • FOR CONSTRUCTION OF SANITARY FACILITIES
  • FOR BALANCE TRANSFER
  • LOAN AGAINST PROPERTY

Who can apply for Loan?

A person having fixed monthly salary or person carrying out business whether professional or non-profession, skilled or unskilled. Person having eligible income but do not have valid proof of income, like Income Tax Return.

Who can be the co-applicant?

Co-applicant can be immediate family member. Co-owner of the property can also be the co-applicant.

What is the maximum loan I can avail of?

You can avail upto 90% of loan including value of property and other related cost for the Loan amount up to 20,00,000. And upto 80% in other cases. This is subject to valuation of property as assessed by us.

What is the maximum tenure of loan?

You can apply for maximum upto 20 years. The tenure is based depending upon the Interest Rate, Age criteria of the applicant and age of property.

What are the eligibility conditions for loan?

To determine your repayment capacity, we take into account factors such as:

  • Age
  • Income
  • Qualifications
  • Number of dependants
  • Assets
  • Liabilities
  • Stability / continuity of your employment / business
  • Income of co-applicant/s

Do I need Income Tax return for my Income proof?

No, you can provide any other valid income proof.

How long does it take to get my loan sanctioned?

Your loan can get sanctioned in a matter of days provided you have all the documents in place and satisfactory verification.

What is your processing fees?

  • Salaried Applicants - 10,000 + Service Tax
  • Self Employed Applicants - 1% of Sanction Amount or 7500 (whichever is higher) + Service Tax
  • Loan Against Property (Mortgage Loan)1.5% of Sanction Amount or 7500 (whichever is higher) + Service Tax

How is processing fees charged by VHFL?

Processing fees is required to pay one time to get the loan processed. It is calculated on the amount sanctioned. This covers processing incurred towards credit appraisal, legal, technical procedure and site visit.

How do I repay the loan?

By paying fixed payment amount to us at a specified date of each calendar month. Equated monthly installments(EMIs) are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

Can I pre-pay my Loan?

Yes, you can prepay the loan at any stage. There is no pre-closure/ prepayment penalty applicable on our Loans.

What is the security for the loan?

You'll need to provide security of the property and/or any other additional collateral security as may be mutually agreed upon.

What are the Tax Benefits avilable of taking VHFL home loan?

Yes, you are eligible for tax benefits on the principal and interest components of the loan under the Income Tax Act, 1961. However as the benefits could vary each year, do check out the current benefits available.

How Do I apply for Loan?

  • You can visit our administrative office or call on 0250 6585774/75/76 OR 09850966644
  • You can also apply online through our website
  • *Subject to Terms & Condition
    *Finance is the sole discretion of VHFL