Piramal Home Loan Interest Rate
When an individual takes a loan, a bank or lender charges a certain percentage amount for borrowing the principal amount. This charge, expressed as the percentage of your principal amount, is known as interest rate. It is typically charged on an annual basis, also known as the APR (Annual Percentage Rate).
Piramal Capital and Housing Finance offers various Home Loan products with an interest rate starting from 9.75% p.a.* – 11% p.a.* Piramal’s Home Loan offers varied Home Loan products that fulfil specific types of requirements. Piramal is also one of the few lenders that relaxes the requirement for CIBIL score over 750 by offering loans for credit scores as low as 650 in specific cases.
Key features of Piramal home Loan are:
- Low CIBIL Score (650 and above) – Unlike any other bank or lender, Piramal offers Home Loan to its customers with a CIBIL score of 650 and above.
- Cash Salaried- It is mandatory for an applicant to provide a collection of an applicant’s proof-of-income or last few salary slips to the bank or lender. However, Piramal Capital and Housing Finance allows a “cash salaried” applicants – house keepers, drivers, etc., to apply for Piramal Home Loan without a salary slip.
- Self-Employed – if an applicant is self-employed, he/she can apply for a Home Loan with minimal formal documentation.
- Proprietorship firm Employees – Proprietorship firm employees can also apply for Piramal Home Loan under PCHF
The General eligibility criteria for getting a home loan
The Eligibility Criteria can defer from lender to lender while getting a Home Loan. The general criteria practised by all banks and lenders for giving a home loan is mentioned below:
| Age range (Salaried and Self-Employed) | Minimum 21 – Maximum 70 |
| Minimum and maximum repayment tenure | Up to 30 years |
| Interest Rates range | 9.65% p.a. onwards* |
| Processing Fees | 0.10% of the Home Loan plus applicable taxes |
| Fincity support available? | Fincity will guide you through the entire process of the application and submission of the document on your behalf. |
Loan Amounts for Piramal home loan in different cities
If you belong from the cities mentioned below you can get the following loan amount for your Home Loan:
| Cities | Available Loan Amount |
| • Delhi • Mumbai | Rs.15 Lakh to Rs.2 Crore |
| • Bengaluru • Ahmedabad • Chennai • Hyderabad • Pune • Jaipur | Rs.15 Lakh – to Rs.1 Crore |
| • Surat • Nashik • Indore | Rs.10 Lakh to Rs.75 Lakh |
Loan Scheme Specific interest rates on Piramal Home Loans.
Piramal Capital and housing Finance offers a variety of Home Loan products with an interest rate of 9.65% p.a.* onwards with a processing fee of 0.10%* of the loan amount (with applicable taxes). You can use the Piramal Home Loan to purchase or construct a new house or to purchase a resale house. You can also purchase under-construction properties or ready to move-in properties with Piramal Home Loan.
Mentioned below are the features and benefits of the various Home Loan offered by Piramal Capital and Housing Finance:
- Piramal “Super” Home Loan Interest Rate
If you are planning to take a “Super” Home Loan to either purchase or construct a home, here are its features:
- Piramal “Super” Loan is mostly availed by an individual to buy or construct home.
- A Piramal “Super” Home Loan offers higher eligibility of up to 20%.
- You can get a Top up on your Home Loan without an additional EMI.
- It offers up to 90% of the property cost including the cost of your land which is subjected to the regulatory term and your repayment capacity.
- You can take a loan amount of up to Rs.20 Lakh to Rs.10 Crore.
- Age – up to 30 years, subjected to the retirement.
- Interest rate starting at 9.75%* – 11%* p.a.
- Only applicable for salaried applicants.
| Loan Slab | Interest rates for Salaried (% p.a.) | Interest rates For working professionals (% p.a.) |
| Up to Rs.30 Lakhs | 9.75%* – 11% p.a. | 9.75%* – 11% p.a. |
| Rs.30.01 – Rs.75 Lakhs | 9.75%* – 11% p.a. | 9.75%* – 11% p.a. |
| Rs.75.01 Lakhs and above | 9.75%* – 11% p.a. | 9.75%* – 11% p.a. |
- Piramal “Advantage” Home Loan Interest Rate
If you wish to construct a home of your own or purchase a built property, here are the features of “Advantage” Home Loan:
- The Piramal “Advantage” Home Loan allows applicants to take a Home Loan by clubbing the income of their family members, especially parents. Government employees who are expected to have pension income post retirement are eligible for this type of Home Loan.
- You can get a maximum loan amount up to Rs.10 Crores.
- Piramal “Advantage” Home Loan offers a maximum tenure of 30 years, subject to the applicant’s retirement age.
- Piramal Home Loan can be taken by – salaried and Self-Employed
- You can also club the income of your spouse, parents, siblings (if they are a co-owner of the property) and children to get higher loan amount
| Loan Slab | Interest rates for Salaried (% p.a.) | Interest rates for working professionals (% p.a.) |
| Up to Rs.30 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.30.01 – Rs.75 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.75.01 Lakhs and above | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
- Piramal Bridge Home Loan Interest Rate
Piramal Bridge Home Loan allows you to purchase a new home or a re-sale home for a higher loan amount ranging from Rs.20 Lakh to Rs.10 Crore by clubbing the income of close family members. The features of Piramal Bridge Loan are as follows:
- Piramal Bridge Loan is avail for the purchasing a residential property that can be either fresh purchase or re-sale.
- Bridge loan offers maximum of 90% of the property value as the loan amount. For a ready property, the tenure is 24 months. For under construction property, the tenure is 24 months – 60 months.
- To apply for a Piramal Bridge Home Loan a co-applicant is mandatory.
- Piramal Bridge Home Loan is available for Salaried professionals and Self-Employed applicants.
- The Piramal Bridge Home Loan amount ranges from Rs.20 Lakh to Rs.10 Crore
- Income of close family members – Parent, Spouse, Children – can be clubbed for a higher loan amount.
- Incomes of your siblings can also be clubbed, only if they are the co-owners of the property.
| Loan Slab | Interest rates for Salaried (% p.a.) | Interest rates For working professionals (% p.a.) |
| Up to Rs.30 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.30.01 Lakhs – Rs.75 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.75.01 Lakhs and above | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
- Piramal Capital and Housing Finance “Self-Construction” Loan
With Piramal Capita and Housing Finance “Self-Construction” loan you can construct – an independent house, bungalow, row house etc. – of your own. The features of Piramal Capital and Housing Finance “Self-Construction” loan are mentioned below:
- Piramal Capital and Housing Finance “Self-Construction” loan provides you the funds to construct – an independent house, bungalow, row house, or residential domicile
- An applicant can get up to – 90% of the Market value of the property as a loan amount – including the value of the land. The loan amount ranges from Rs.20 Lakhs to Rs.10 Crores.
- It also offers an extended tenure of up to – 30 years subject to the retirement age of an applicant.
- Piramal Capital and Housing Finance “Self-Construction” loan allows you to start the construction of your home within 24 months from the date of disbursement of the loan amount.
- You can apply for Piramal Capital and Housing Finance “Self-Construction” loan either individually or else you can also apply jointly.
- Salaried Individuals, Self Employed Individuals, and Self-Employed Non-Individuals can apply for Piramal Capital and Housing Finance “Self-Construction” loan.
- Income of your close family member – Spouse, Parent, Child, Sibling – to increase the maximum loan amount.
| Loan Slab | Interest rates for Salaried (% p.a.) | Interest rates For working professionals (% p.a.) |
| Up to Rs.30 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.30.01 Lakhs – Rs.75 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.75.01 Lakhs and above | 9.75%* p.a. – 11%*p.a. | 9.75%* p.a. – 11%*p.a. |
- Piramal Capital and Housing Finance Balance Transfer & Top-Up
If you wish to shift your existing Home Loan to PCHF to get benefits like – lower interest rate, extended tenure, additional top-ups, etc., the features of Piramal Capital and Housing Finance Balance Transfer & Top-Up are mentioned below:
- You can avail the facility of balance transfer with lower-Interest Rates on transferring the existing Home Loans to PCHF from another lender.
- As per requirement, you can also take an additional Top-Up.
- Applicants with an existing Home Loan of 18 months or above are eligible for Piramal Balance Transfer facility.
- You can get loan up to 90% of the current market value of the property subject to a minimum of Rs.20 lakhs and maximum of Rs.10 crores.
- Piramal Home Loan balance transfer offers a maximum tenure of 30 years subject to the applicant’s retirement age.
- Income of your close family member – Spouse/Parent/Children/Siblings – can be added for maximum loan amount eligibility.
| Loan Slab | Interest rates for Salaried (% p.a.) | Interest rates for working professionals (% p.a.) |
| Up to Rs.30 Lakhs | 9.75%* p.a. – 11%*p.a. | 9.75%*p.a. – 11%* p.a. |
| Rs.30.01 Lakhs – Rs.75 Lakhs | 9.75%*p.a. – 11%* p.a. | 9.75%* p.a. – 11%*p.a. |
| Rs.75.01 Lakhs and above | 9.75%*p.a. – 11%* p.a. | 9.75%* p.a. – 11%* p.a. |
Piramal Capital and Housing Finance Processing fees and charges
Piramal Capital and Housing Finance typically charges a processing fee of 0.10% on the Home Loan amount from borrowers to cover the expenses of conducting credit appraisal and technical evaluation of your property. It is typically non-refundable and has to be paid at the time of loan application.
| Salaried and Self-Employed Applicants | • 0.10% – 3% p.a. of the loan amount plus applicable taxes • An applicant has to pay an initial processing fee or Rs. 5,000 plus other applicable taxes on cancellation, rejection or withdrawal of your home loan application. |
| CERSAI charges | Rs. 500 plus applicable taxes |
| Loan Repayment Instrument Dishonor Charges | Rs. 500 plus applicable taxes |
| Pre-Closure Statement of the loan | Rs. 1,000 plus applicable taxes |
| For Changing loan repayment mode | Rs. 500 plus applicable taxes |
| Required documents to be deposited to the lender | Rs. 500 plus applicable taxes |
| Re-scheduling of the loan terms (EMI increase/EMI Date change/Lowering of Tenor) | Rs. 5,000 plus applicable taxes |
| Charges for No-Due Certificate issuance | First time fee, Rs. 500 plus applicable taxes |
| Copies of documents | Rs. 1,000 plus applicable taxes |
| Account Statement | Free once in a year; Rs.500 plus applicable taxes |
| Retrieving the original property documents | Rs. 2,000 plus applicable taxes |
| Additional Charges | A borrower needs to pay 2% p.m. on the principal amount on the refusal of any Terms and Conditions of the Transaction Documents plus applicable taxes. |
Piramal Capital and Housing Finance Foreclosure and pre-payment charges
| Foreclosure and pre-payment charges | • No charges shall be applied on Foreclosing the Home Loan account at a Floating Rate of Interest. • A borrower needs to pay 2% of the principal amount being pre-paid + other applicable taxes at a Fixed rate of interest. • On partial or full payment made from “own sources”. No pre-payment charges shall be applicable. Here, the term “own source” means any source of borrowing other than borrowing from any bank or lender. • Home Loan taken by a business firm needs to pay 2% of principal amount being pre-paid plus other applicable taxes at a Floating Rtae of Interest. |
Compare Piramal Home Loan Interest rates with other Top Banks and lenders
Getting a Home Loan is a long-term commitment. It is always advisable to do thorough research before making a decision. Compare the Home Loan interest rates of top banks and lenders from the list below:
| Parameter | SBI% | HDFC% | ICICI% | Axis Bank% | LIC HFL |
| Interest Rate (Lowest Updated) | 6.70%* | 6.75%* | 6.90%* | 6.90%* | 6.90%* |
| Tenure Range | 1– 30 years | Up to 30 years | 3 – 30 Years | 5 – 30 Years | Up to 30 Years |
| Processing Fees | 0.35% | 0.50% to 1.50% | 0.50% – 1% | 1% | 0 – 0.50% |
| Eligible Age | 18 – 70 years | 21 – 65 years | 21 – 65 years | 21 – 60 years | Max. 50-75 Years |
FAQs
- What is the interest rate for Piramal Home Loan?
Piramal Capital and Housing Finance offers affordable Interest rates on home loans starting at 9.75% p.a.*
- Can I extend my Home Loan tenure?
Yes, Piramal Capital and Housing Finance offers an extended tenure of 30 years on your Home Loan.
- What are the foreclosure guidelines and charges for Piramal Home Loan?
The guidelines and charges on foreclosing your Piramal Home Loan account are listed below:
- There are no foreclosure charges on loans that are taken at a floating rate of interest.
- For loans taken at a Fixed rate of interest, borrowers need only pay 2% of the principal amount being pre-paid + applicable taxes.
- There are zero prepayment charges on home loans pre-paid from funds presented as a borrower’s “own source”. Here, the term “own source” means any source of funds other than that borrowed from banks or lenders, meaning that the source of the funds should be accounted for as the borrower’s own funds.
- A foreclosure charge of 2% of principal amount being pre-paid (plus other applicable taxes) is applicable on home loans taken by business firms.
- Do I have to pay extra charges on pre-paying my loan amount?
On partial or full payment made from “own sources”. No pre-payment charges shall be applicable. Here, the term “own source” means any source of borrowing other than borrowing from any bank or lender.
- What is the processing fee for Piramal Home Loan application?
Piramal Capital and Housing Finance charges a processing fees of up to 0.10% – 3% on your Home Loan amount for processing your Home Loan application.
- Why I need to pay a processing fee for my Piramal Home Loan Application?
Piramal’s home loan processing fee charged at around 0.10% – 3% of the Home Loan amount, is to cover the expenses of conducting credit appraisal and technical evaluation of your property, and to cover backend expenses related to processing your application and making the relevant checks, etc.
- What is the highest loan amount offered by PCHF?
PCHF offers a loan amount ranging from Rs.20 Lakh to Rs. 10 Crore depending up on your eligibility and repayment capacity.