Beneficiary Led Construction

Loan For Home Purchase
  • Loans available to customers for constructing house on a plot of land owned by them.
  • Activities covered under these loans ranges from house construction, extension and improvement.
  • Maximum Loan amount is Rs 10 lakhs and maximum tenure is 20 Years.
  • Loans can be covered under CLSS depending whether the land is in Urban or Rural area. CLSS will be applicable only in Urban and Semi Urban areas.
  • Eligibity & 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 10 lakhs. Higher amounts can be considered on an exceptional basis.
    Tenor Maximum 20 Years.
    Interest Rate 14% p.a.onwards.
    (SMHFC's PLR is 13%)
    Processing Fee Maximum 3%+ GST of the loan amount.
    Prepayment Charges NIL
    Loan to Value Maximum 85%.
    Security Equitable Mortgage Or Registered Mortgage on the plot of land alongwith construction thereon.
    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 SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenor.
    To read document retrieval and other charges, Click Here
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Customer Speak

Shubham Bahetwar
Yavatmal, Maharashtra.

“I always lived in a kuccha house. SMHFC helped me in financing the construction of a pucca house on my own plot of land.Owing to the informal nature of my work,

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Ahmedabad, Gujarat.

“Owing to the informal nature of my work and no other financial support, all my loan applications were denied from various financial institutions.

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Billu Roy
Kolkata, West Bengal

“I moved to the city of Kolkata 12 years ago for a better livelihood and stayed on rent in a kuccha house for a very long time. I dreamt about owning,

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