When an unexpected requirement of money comes up like starting a business, your child’s foreign education or marriage, home renovation, etc. a middle-class person looks for a loan that can get him/her instant money at low-interest rates and longer tenure period. The same goes for a loan against property.
Keeping in mind the needs of a middle-income individual, DHFL Vyasa Housing Finance Ltd loan against property is one such scheme that fulfills a loan borrower’s desires at it best.
How to Apply
The procedure to apply for a loan against property from DHFL Housing Finance Ltd is very easy. All you have to do is fill up the loan application form and keep al the required documents as per the eligibility criteria and submit them to the nearest bank branch.
The purpose of an EMI calculator is to give the detailed information of the monthly EMIs as per the chosen loan amount, tenure period and interest rate. For your better understanding, here is an example:
Table for EMI per month, Total Interest Outgo and Total Amount
| Amount (in Rs.) | Interest Rate (p.a) | Loan Tenure (in years) | EMI (in Rs.) | Total Interest Outgo (in Rs.) | Total Amount (Principal + Interest) (in Rs.) |
|---|---|---|---|---|---|
| 15,00,000 | 15%-17% | 1 | 1,35,387-1,36,807 | 1,24,650-1,41,686 | 16,24,650-16,41,686 |
| 15,00,000 | 15%-17% | 2 | 72,730-74,163 | 2,45,519-2,79,922 | 17,45,519-17,79,922 |
| 15,00,000 | 15%-17% | 3 | 51,998-53,479 | 3,71,928-4,25,247 | 18,71,928-19,25,247 |
| 15,00,000 | 15%-17% | 4 | 41,746-43,283 | 5,03,814-5,77,563 | 20,03,814-20,77,563 |
| 15,00,000 | 15%-17% | 5 | 35,685-37,279 | 6,41,094-7,36,732 | 21,41,094-22,36,732 |
| 15,00,000 | 15%-17% | 6 | 31,718-33,369 | 7,83,661-9,02,582 | 22,83,661-24,02,582 |
| 15,00,000 | 15%-17% | 7 | 28,945-30,654 | 9,31,391-10,74,911 | 24,31,391-25,74,911 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 1,31,109-1,22,067 | 2,16,231-2,45,781 | 13,68,891-13,77,933 |
| 2 | 1,52,189-1,44,516 | 1,95,151-2,23,332 | 12,16,702-12,33,417 |
| 3 | 1,76,652-1,71,094 | 1,70,688-1,96,754 | 1040,050-10,62,323 |
| 4 | 2,05,049-2,02,554 | 1,42,291-1,65,294 | 8,35,001-8,59,769 |
| 5 | 2,38,011-2,39,802 | 1,09,329-1,28,046 | 5,96,990-6,19,967 |
| 6 | 2,76,273-2,83,899 | 71,067-83,949 | 3,20,717-3,36,068 |
| 7 | 3,21,075-3,36,496 | 26,655-31,741 | 0 |
Eligibility Criteria
The list of who all can apply for loan against property from DHFL Vyasa Housing Finance are as follows:
Documents Required
Here is the list of all the documents as per the eligibility and category that are required at the time of loan application:
| Category | Salaried | Self-employed/Professional/Partnership/Company |
|---|---|---|
| Application Form | Loan application form | Loan application form |
| Photos | 2 Passport size photographs | 2 Passport size photographs |
| Identity Proof | Passport Voter ID Driving License Job Card NREGA Adhaar Card PAN Card Registration Certificate | Passport Voter ID Driving License Job Card NREGA Adhaar Card PAN Card Registration Certificate |
| Address Proof | Passport Voter ID Driving License Job Card NREGA Adhaar Card Registration Certificate | Passport Voter ID Driving License Job Card NREGA Adhaar Card Registration Certificate |
| Income Proof | Last 3 months salary slip Form 16 | Last 2 years IT Returns or financial documents Last 2 years income proof certified by a CA |
| Bank Statement | Last 6 months | Last 6 months |
| Other Income Proof | Rental receipts or documents showing receipt of income | Rental receipts or documents showing receipt of income |
| Property Documents | Copy of Title documents showing receipt of income | Copy of Title documents showing receipt of income |
The details that are mandatory to be filled in the application form are as follows:
The interest rates applicable on mortgage loan starts from 15% to 17% per annum.
Features & Benefits
Some of the main advantages of taking loan against property from DHFL Vyasa are as follows:
