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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Get home loans in India that are best matched to your credit profile
Processing Fee
3-5%
Max Tenure
15 yrs
Best Rate
12%
Features
Pricing
Documents Required
India Shelter Home Loans is a well-known NBFC based in Gurugram. They have supported over 60,000 families in realizing their dream of owning a home by providing them with affordable home loans. In 1998, the company was founded as Satyaprakash Housing Finance India Limited (SHFIL). It was eventually taken over by a group of professionals with diverse industry knowledge and rebranded in 2010 as India Shelter Finance Corporation Ltd. (ISFC).
About India Shelter Home Loan
| Loans of Rs.5 lakhs – Rs.50 lakhs | Fixed interest rate from 12% | Repayment tenure of 20 years |
| 5-day approval process | 24/7 customer support | Processing fee at 2-3% |
India Shelter wants to give its customers the flexibility and freedom to use their loan amount. That is why it allows borrowers to use their home loan for various home construction and home repair purposes.
- Purchase new or used residential properties
- Invest in a residential plot
- Construction of residential house
- Renovation or upgrade of your existing home
- Repairs and maintenance of your residence
- Adding an additional floor or additional room to your existing house
India Shelter allows you to use the home loan amount for any of the above purposes. That is true freedom with home loans.
India Shelter Home Loans believes in technology-driven banking processes. Applicants can simply fill in their details on their web form and a representative from India Shelter will contact them for next steps.
1. Login to the India Shelter Home Loans webpage.
2. Enter your basic details like name, email address and phone number.
3. Once registered, you will be required to enter your income details to check your eligibility.
4. If you agree, the bank will contact you to complete your home loan application.
5. They even offer doorstep document collection so that you don’t have to visit the bank.
6. Upon successful validation of your documents, the loan amount is disbursed immediately.
7. The entire loan application process can be completed in as little as 5 working days.
Home loans are a long time commitment and getting them from a trusted lender is a key decision. With India Shelters, you get the expertise and experience of a seasoned team that will ensure that your home loan process is smooth and hassle-free.
Transparency is also key to any loan process. With complete digital support, India Shelters ensures that you are well informed of all the steps and processes involved in the loan application and approval process. With regular updates on SMS and emails, applicants are in constant touch with bank representatives and are well informed of the process.
Other major benefits of getting your home loan from India Shelters are:
- Hassle-free loans with minimal documentation
- Quick processing times of 5-working days
- Rs.5 lakhs to 50 lakhs loan
- Get one-window loan clearance for a stress free process
- Regular updates through voice call and SMS
- Anytime customer support
- Loan even without proof of income
Interesting Read: 10 Dos Don’ts While Applying For A Home Loan Online
India Shelter home loan comes with very minimal eligibility criteria –
| Eligible Applicants | Owners, co-owners and family members of the property |
| Required Documents | All applicants must sign an application form that includes a photograph.For ID proof - Voter ID, PAN card , Driving License, and other forms of identification are acceptable.For address proof - Voter ID, PAN, Driver's License, Passport, Birth Certificate, Pass Certificate of 10th or 12th Grade Property DocumentsPassport-size color photograph |
| Other supporting documents to be submitted | Income Documents - Last 3 months salary slips, Income Tax Returns of the last 2 years, or Business Documents LIC Policy FD or RD Certificate from a reputed bank Liabilities & Assets statement Other savings and investment details |
| Security or Guarantee | Custody of Title Deeds until the loan is fully repaid |
| Non-Refundable Initial Processing Fees at the time of application submission | Loan amount upto Rs.15 lakh - Rs. 3,000/- More than Rs.15 lakh - Rs. 5,000/ Search Fee - Rs. 1500 / Product Type-Saral Loan - Rs. 2,000/- |
| Processing fee payable at the time of loan disbursement | Housing Loan - Upto 3% of the loan amount sanctioned Non- Housing Loan - Upto 4% of the loan amount sanctioned Loans eligible under any Government scheme - As per the respective govt. scheme subject to the above ceiling |
| Conversion Charges for switching from floating to fixed interest and vice-versa or Re- Pricing of the loan | Rs. 5,000/- or 0.5% of loan outstanding whichever is higher |
| Penal Charges/ Late Payment charges | Penal Interest Rate at 36% per annum shall be charged on the overdue EMI/ installment amount |
| Prepayment Charges | Floating Rate – NIL Charges, Fixed Rate – prepaid with own sources – NIL charges, td Fixed Rate – prepaid with other sources within 24 months of disbursal – 6.5% of the prepayment amount, Fixed Rate – prepaid with other sources after 24 months of disbursal – 4.5% of the prepayment amount |
1. Is India Shelter a reputable bank? Where is it located?
India Shelter is a reputed NBFC based out of Gurugram. They are backed by leading lending partners. They have branches in most leading cities across India.
2. How much home loan can I get from India Shelter?
India Shelter offers home loans starting from Rs.5 lakhs to Rs.50 lakhs to eligible borrowers.
3. What kind of interest rate is available with India Shelter?
India Shelter has both fixed rate and floating rates of interest. However, they primarily promote fixed rate of interest models.
4. What is the current interest rate on India Shelter home loans?
India Shelter is currently charging an interest rate starting at 12%.
5. What are the repayment tenures available with India Shelter home loans?
India Shelter home loans can be repaid in tenures up to 20 years.
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