Aavas Finance provides housing loans mainly in remote, or un-served and un-reached markets, like in the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Uttar Pradesh, Haryana, Punjab, Delhi, Orissa, Karnataka, and Chhattisgarh. I came to learn all these and about the Avas finance interest rate from my uncle living in Uttar Pradesh. It is a very reliable finance company there and compared to other lenders, its interest is also quite low.
What is the Aavas Finance Home Loan Interest Rate?
The interest rate for a home loan varies from one financial institution/company to another. In Aavas Financiers the interest rate for home loans is 8.50% p.a. for a loan amount starting from Rs 1 lakh for a period up to 30 years. The processing fee is also minimal and is up to 2% + GST. This is the latest interest rate so you can really rely on it. However, if you are planning to avail a home loan from them, do visit their company and get more details on it. Apart from the Aavas home loan interest rate, you must be aware of some other charges that you need to pay, are:
Administrative Fees- Up to 2% + GST
Non-encumbrance certificate/verification report- Up to Rs 5,000 + GST
RCU Charges- Up to Rs 1,000 + GST
Valuation/Technical Fee- Rs 2,500 + GST (for each report)
Technical visit charges for tranche disbursement- Rs 200 + GST and more
I hope this information on Aavas housing finance rate of interest will be helpful to you.
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All property buyers go through the struggle of finding the right financing options to make their dream home into a reality. Buyers need to ponder on different lenders and their interest rates. Interest rate has a big impact on loan repayment. I also found out AVAS home loan interest rate.
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What is the home loan interest rate of AVAS?
AVAS Finance is financial company that offers home loans to borrowers. Borrowers can choose their loan tenure, processing fees, prepayment charges, and other terms and conditions. From what I could gather, the current home loan interest rate ranges from 6.90% to 9.50%.
The interest rates for property worth Rs. 30 lakhs is 6.90% - 8.90% The interest rates for property above the value of Rs. 30 lakhs and up to Rs. 75 lakhs is 7.10% - 8.95% The interest rates for property above the value of 75 lakhs is 7.25% - 9.50%
Knowing AVAS finance home loan interest rate is important. Higher interest rate means you'll end up paying more in interest charges over time, increasing the overall cost of your home loan.
The eligibility criteria AVAS home loan is given below:
Nationality |
Resident of India |
Maximum Loan Tenure |
30 Yrs |
Employment |
Salaried or Self-employed |
Work Experience |
1 Years or more |
This is all from my end on AVAS home loan interest rate.
Read more: How to calculate floating interest rate Last 10 years home loan interest rates in India
What is the home loan interest rate of AVAS?
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2023-03-28T13:22:34+00:00 2023-10-12T21:40:23+00:00Comment
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