Self-Construction Loan

• Eligibility & Documentation

  We at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including, but not restricted to income stability, repayment capacity, past credit record and positive verification

• Rate & Charges

  Loan Terms
  Loan Amount	Minimum Rs. 1 lakh & maximum Rs. 25 lakh.
  Tenure	Maximum 20 years.
  Interest Rate	11% onwards
  Processing Fee	2% - 3% (+GST) of the loan amount
  Prepayment Charges	NIL
  Loan to Value	Maximum 85%
  Security	Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
  Repayment	Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs)
  MITC	SMHFC will adhere to the Most Important Terms and Conditions ("MITC") on all loans as prescribed by the National Housing Bank.
  Other Conditions	SMHFC will facilitate customers to take a mortgage redemption policy through SMHFCs tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
  Delay Payment Charges	A maximum of 24% pa on the defaulted sum.
  To read document retrieval and other charges, Click Here

  Swipe Table
• Client Selection & Approach For Gradation Of Risk

  The decision to give a loan is assessed on a case-to-case basis, based on multiple parameters such as a borrower profile, borrower's repayment capacity, past repayment record, tenor of loan, occupation and stability of income, borrower's other financial commitments, product type, geography, property type, value of the property etc. Such information is collected based on a borrower’s input and field inspection by the company officials.

• Calculators
• FAQs
  • How to apply for a self-construction loan from SMHFC?

    Applying for a loan with SMHFC is a hassle-free process. To begin their loan application, customers can:-
    

    1. Call us on our toll free number: 1800-1234-427
    2. Inquire directly on our website via this link - Loan Enquiry | Online Form | SvatantraMHFC

  • Why choose SMHFC for self-construction loan?

    SMHFC’s self-construction loan gives customers the flexibility to construct their dream home as per their own requirements and aspiration!
    
    Apart from the flexibility to build your dream home, these loans also offer low rates of interest, no hidden charges, door-to-door services, and a lot more! 

  • What are the qualifications for a self-construction loan?

    All customers applying for a loan with SMHFC should be at least 18 years old.
    Mandatory Documents:-
    

    1. KYC (Aadhaar / PAN / Voter ID / Driving License / PAN / Bank Passbook etc)
    2. Clear title to prove land ownership.

    **Additional documents might be requested on a case-by-case basis.
    
    At SMHFC, we understand that every customer might not have the same type of documentation, and therefore, we provide customized solutions to ensure that maximum customers can enjoy our hassle-free services.
    
    To know more about whether you qualify for a Self-Construction Loan, feel free to call our toll free number - 1800-1234-427 or directly inquire on our website - Loan Enquiry | Online Form | SvatantraMHFC

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Rate / terms could be subject to change at management's discretion