FAQs

SMHFC solely focuses on granting loans for housing requirement of the financially excluded population in economically weaker and low-income group segment. Svatantra Housing emphasis on customer centricity and innovation as the center of business philosophy. With customer centric approach, the company has a unique branchless business model wherein loans formalities and delivery happen at borrowers’ home. SMHFC employees visit the prospective customer's workplace to understand the need, income, business details of the customer along-with liabilities if any. The company leverages technology to ensure efficient process at low cost and maximum transparency.

As defined by RBI (Reserve bank of India) Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups such as weaker sections and low income groups at an affordable cost in a fair and transparent manner by mainstream Institutional players.

SMHFC grants loan up to 85 % of the cost of the flat up to Rs.35 lakh. It lends at an average interest rate of 11% onwards (reducing balance).

The company has laid down Customer Protection & Grievance Redressal policy. The overall objective is to protect the customer from concerns emanating out of impact of excessive interest rates, improper/ non-transparent lending practices, coercive collection practices and over-indebtedness among EWS/ LIG borrowers. We emphasize on responsible lending practices. The three main aspects of these are as follows:

• Customer Protection, Regulation and Supervision to ensure customers are treated fairly and appropriately and that they understand the implications of their actions.
• Improve standards and codes of conduct with an emphasis on consistency.
• Financial Literacy training to make customers well-versed so that they can become more responsible for their own financial welfare.

Top Up Loans are loans which can be availed for any personal uses like marriage, Child's education, business expansion etc. It's an addition to an ongoing home loan.

All customers with an existing Home Loan or Self-construction loan can apply for a Top Up Loan. New customers availing of our Balance Transfer loan can also additionally avail a top up loan from SMHFC. For more details, please call on our toll-free number 1800 1234 427.

It is a loan which can be availed by transferring your current outstanding home loan availed from another Bank or Financial Institution to SMHFC.

No, the customer should not visit any of the offices as our Loan Officer will visit the customer’s place and will process the loan, as per the customer’s convenience time.

We offer the following loans:

• Home Purchase Loan
• Self-Construction Loan
• Home Extension Loan
• Home Renovation Loan
• Balance Transfer
• Plot Purchase Loan
• Loan Against Property (LAP residential & commercial)
• Commercial Property loan (Non-Residential Property loan)

At SMHFC, we strongly believe in transparency, customer centricity and integrity. Considering this, please be assured that there are no hidden charges to avail the loan. All information will be revealed with you.

Yes, we can definitely help you in finding the same. For details, you may have a look at our approved project on our website:www.svatantramhfc.com

Pre EMI means payment of only interest amount and EMI means payment of Principal & Interest.

At SMHFC, you have an option to start your EMI right after the first disbursement has taken place. You do not have to wait for the entire disbursement to happen.

On the 7th date of every month.

Yes, your home loan is insured with life insurance policy.

At SMHFC, you need to have an earning source of income. If you have this then you are eligible to get a home loan, self-construction loan or any other loan that we provide.

Yes, we will definitely consider their incomes too in order to increase your loan eligibility.

At SMHFC, you do not need income-tax return to get a loan. You are still eligible to get a loan from us.

Yes, you are eligible for getting tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. You may call our toll free number and ask for the interest certificate.

Loan can be repaid at any point of time by contacting SMHFC Customer Service Team. Also, there are no foreclosure charges to repay the loan.

You will get your property papers in 21 working days right after the repayment of the entire loan amount.

Yes, we do have our SMHFC app. You can download it via following link: https://bit.ly/3J0lABQ

By calling our toll-free number: 1800 1234 427 or you may also write to us at contact@svatantramhfc.com