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Overview Eligibility Features & Benefits Fees & Charges Documents FAQs Terms & Conditions

Product Overview

Aavas Financiers Home Loan is designed to help eligible customers finance the purchase or construction of their own home. Aavas primarily serves customers in rural, semi-urban and peripheral urban markets and also considers customers with informal or assessed income, subject to its credit assessment.

The Home Loan can be used for eligible residential properties, including properties developed by government or private development authorities, RERA-approved flats, municipal properties, freehold properties and eligible Gram Panchayat properties.

With fast processing, minimal documentation, and easy eligibility, it is a reliable option for entrepreneurs and individuals looking for quick financial assistance.

Eligibility Criteria

Aavas' current Home Loan information indicates:
Nationality: Resident Indian
Employment: Salaried or self-employed
Work Experience: 1 year or more
Maximum Tenure: Up to 30 years, depending on applicant category
Credit Profile: Income, CIBIL/credit history and existing financial obligations are considered
Income: Monthly income and repayment capacity are evaluated
Age: Considered as part of the overall eligibility assessment
Aavas also states that eligibility depends on factors including age, income, tenure and CIBIL score. Final eligibility and sanctioned amount are subject to Aavas' assessment.

Features & Benefits

Home Purchase: Finance an eligible residential property
Home Construction: Financing available for construction of a house
Loan Amount: Starting from ₹1 lakh, subject to eligibility
Tenure: Up to 30 years for eligible government/PSU salaried customers
Applicant Type: Salaried and self-employed applicants
Wide Property Coverage: Eligible urban, semi-urban and rural properties
Flexible Income Assessment: Aavas may assess customers with informal/assessed income based on applicable criteria
Co-Applicant Facility: Eligible family members can be included as co-applicants
Online Application: Online application and eligibility-calculation facilities
Home Loan Balance Transfer: Existing home loans can be transferred to Aavas, subject to eligibility
Home Improvement Loan: Financing is also available for eligible home renovation and improvement requirements
Home Construction Loan: Aavas offers financing for land purchase and construction of a house
Aavas Home Loan solutions can cover eligible requirements such as:
Purchase of a residential house
Purchase of an eligible flat
Construction of a house
Land purchase linked with house construction
Home improvement and renovation
Home Loan Balance Transfer
The exact purpose and property must satisfy Aavas' applicable policy and legal/technical requirements.

Fees & Charges

ChargeDetailsProcessing FeeAs per prevailing Aavas Schedule of ChargesPrepayment – Home LoanCharges depend on interest-rate type, borrower category and source of fundsCheque/ECS/ACH Bounce₹500 + applicable GST per dishonoured transactionPenal InterestAs per prevailing Aavas terms and applicable scheduleDuplicate No-Dues Certificate₹500 + applicable GSTCopy of Property Papers₹500 + applicable GST
Aavas' published schedule states that for fixed-rate Home Loans to individual/non-individual borrowers, prepayment from own sources carries no charge. Where applicable, prepayment from other sources can attract charges according to the prevailing schedule. Charges are subject to change, so the latest Aavas schedule should be referred to before application/disbursal.

Documents Required

Identity & Address Proof
PAN Card
Aadhaar Card
Passport
Voter ID
Driving Licence
Other officially valid KYC documents
Salaried Applicants
Latest salary slips
Bank statements
Form 16 / ITR, as applicable
Employment/income-related documents
Self-Employed / Informal Income Applicants
Bank statements
ITR, where available/applicable
Business or income proof
Informal income documents, where applicable
Documents related to business ownership
Property Documents
Sale agreement / title documents
Property ownership documents
Approved building plan, where applicable
Construction-related documents
Other documents required for legal and technical verification
The final document list may vary according to the applicant's income profile, property and loan purpose.

FAQs

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Aavas' current information indicates Home Loans starting from ₹1 lakh, subject to eligibility and applicable product conditions.

The maximum tenure can be up to 30 years for eligible government/PSU salaried customers. Other customer categories may have shorter maximum tenures.

Yes. Aavas accepts eligible salaried and self-employed applicants.

to customers with informal income? Aavas focuses on underserved and unserved markets and states that it uses an individual assessment methodology for customers who may not have conventional documents such as salary slips or ITRs.

Yes. Aavas offers a separate Home Construction Loan, including a solution for land purchase and construction.

Yes. Home Loan Balance Transfer is listed among Aavas' current loan products.

Eligible properties can include RERA-approved flats, properties developed by government/private development authorities, municipal properties, freehold properties and eligible Gram Panchayat properties, subject to Aavas' legal and technical assessment.

Aavas states that Home Loan interest rates depend on the customer's profile, loan amount and tenure. The applicable rate should be confirmed through Aavas' current offer/eligibility process.

Terms & Conditions

Home Loan approval is subject to Aavas Financiers' credit assessment and applicable eligibility criteria.
The final loan amount depends on income, repayment capacity, credit profile, property value and other applicable parameters.
The property being financed is provided as security for the loan, with security created through the deposit of original title documents as applicable.
Property documents are subject to legal and technical verification.
Applicable processing, prepayment, penal and other charges will be as per the prevailing Aavas schedule.
Interest rates may change according to the applicable rate type and Aavas' prevailing policies.
Final terms will be specified in the sanction letter, MITC/KFS and loan agreement.

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