Tag Archives: HUDCO home loan

HUDCO Home Loan, Interest Rate and EMI Calculator 2019

(Updated 12.01.2019) HUDCO Home Loan and EMI Calculator Jan 2019 –  Get Instant Quick & Easy Approval on HUDCO Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓Interest Rate ✓Loan Tenure ✓Processing Fee ✓Eligibility ✓Best Offers & more.

Latest News About HUDCO

  1. (22.06.17) HUDCO ties up with EPFO to aid buyers avail home loan subsidy – In a move to help home buyers avail subsidy and interest subvention under the Pradhan Mantri Awas Yojana (PMAY), EPFO and HUDCO are going to ink an agreement. The retirement fund body, allow its subscribers to withdraw upto 90% of their EPF accumulations to buy homes under the PMAY scheme. (Sources: indiainfoline)

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Housing Urban Development Corporation (HUDCO) Home Loan

Housing Urban Development Corporation (HUDCO), a Government of India Enterprise, aims to provide housing finance to every citizen of India. HUDCO offers home loans to every individual to help them own a house through its “HUDCO NIWAS” Individual Housing Loan Scheme. HUDCO Home loan can be availed for constructions or purchase of house/flat, for purchase of plot from public agencies, reputed builders, cooperative societies of government employees, for extension or improvements of an existing house, refinancing of existing loan taken from other financial institutions, etc. HUDCO Home Loan can also be availed in bulk by State Government, the Para-Statal institution of the State Government and fro certain PSUs, for providing House Building Advance to their employees. HUDCO NIWAS offers most competitive interest rates for its various home loan products. All home loan products are tailored in a user-friendly mode to meet demands of every borrower.

HUDCO Home Loan Features

HUDCO NIWAS” offers Home Loan exclusively for:

a) Construction of a house.

b) Purchase of House or Flat.

c) Purchase of a plot from Public (Government) Agencies, Co-operative Housing Societies of Government employees or Reputed Developer.

d) Extending or improving the existing House or Flat.

e) Refinancing of existing housing loans from other financing Institutions/Banks/Employers.

HUDCO Home Loan Benefits

  • Most competitive interest rate.

  • No processing Fee for HUDCO Home Loan.

  • No charge on account of Prepayment of loan.

  • Interest subsidy of 6.50% is available under Credit Linked Subsidy Scheme (CLSS) to Pradhan Mantri Awas Yojana beneficiaries.

  • Provision for switching from Fixed to Floating & vice-versa on nominal charges.

  • Free counseling on alternate building technologies.

  • Free counseling on designing the house.

  • Interest calculated on monthly reducing balance.

  • Free Personal Accident Insurance cover to every borrower.

HUDCO Home Loan Interest Rate

Interest Rates

9.45% (Floating rate), 9.50% (Fixed rate)

Processing Fee

Nil

Loan Tenure

25 years

Loan Amount

80% of the cost of the housing unit

Category

Loan Amount

Floating Rate

Fixed Rate

For Every Individual & Beneficiary of CLSS Under PMAY

Up to Rs. 8 lakhs

9.45%

9.50%

For Salaried Individuals and for Govt./PSU employees & by HUDCO Niwas Officials

Above 8 lakhs but up to Rs.40/50 lakhs

9.45%

9.50%

Solely for Govt./PSU employees with repayment through Deduction at Source

Above Rs. 40/50 lakhs and up to 1 crore

9.45%

9.50%

HUDCO Home Loan Eligibility Criteria

  • HUDCO Home Loans can be availed by all individuals.

  • Minimum loan is available up to Rs.8.00 Lakh, after verifiable Income.

  • Salaried Individuals with permanent employment can avail loan up to Rs.50/40 Lakhs

  • Loan amount up to Rs.50 Lakhs is available for borrowers residing in Mumbai, Delhi, Chennai, Kolkata, Bengaluru & Hyderabad and Rs.40 Lakh in other areas

  • Home loan amount above Rs. 50/40 Lakhs and up to Rs.1.00 Crore is available to only Govt./PSU employees with repayment through Deduction at Source (DAS)

  • HUDCO Home Loans are available in Municipal Areas only.

  • The loan amount will be up to 80% of the cost of the housing unit excluding incidental costs like stamp duty, registration and other documentation charges.

  • The actual Home Loan amount will be decided on the repayment capacity of the borrower.

  • Several factors such as income, age, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history will be taken into account for loan amount eligibility.

HUDCO Home Loan Documents Required

For Salaried

  • The applicant needs to submit valid passport /Voter ID Card /Aadhaar Card/ Valid Driving Licence etc as proof of both identity and residence

  • Last 3 months’ Salary Slips / Certificates attested by the employer , last 6 months’ Bank Statements / updated passbook, latest Form-16 as income proof

  • Passport size photograph of all the applicants should be affixed on the application form

  • Copy of the Pension Certificate in case of retired applicants.

For Self Employed

  • The applicant needs to submit valid passport /Voter ID Card /Aadhaar Card/ Valid Driving Licence etc as proof of both identity and residence

  • Income Tax Returns along with computation of income for the last 3 Years , last 3 year’s Balance Sheet and Profit & Loss A/c Statements as income proof

  • The applicant needs to submit latest form 26 AS.

  • Copy of the Registered Sale Deed/Lease Deed/Allotment Letter/Share Certificate of the Co-operative Society, Agreement for sale as executed on applicable stamp paper.

  • Memorandum and Articles of Association of the Company needs to be submitted.

  • Passport size photograph of all the applicants should be affixed on the application form .

**Other documents may be asked to submit by the company.**

HUDCO Home Loan Security Required

  • The house or the property need to be submitted will be taken as first mortgage.

  • One Guarantor is acceptable to “HUDCO NIWAS”

  • Second mortgage of housing unit subject to (a) Central and State Govt. employees- assignment of benefits under Central/State Govt. Group Insurance Scheme or else the repayment of the loan is completed before superannuation, (b) Public Sector Undertaking Employees-loan is repaid by employee through salary deduction/Post Dated Cheques (PDCs)/ECS and repayment of loan is completed before superannuation of the employee.”- as per HUDCO NIWAS terms and conditions.

HUDCO Home Loan EMI Calculator

HUDCO Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

HUDCO Home Loan EMI Calculation

For a loan amount of Rs 20,00,000 for 15 years at the interest rate of 9.75% p.a. (floating rate), the EMI comes out as Rs. 21,187. To know the EMIs for 15 years, see the table given below.

Home Loan Amount (Rs)

Interest Rate(%p.a)

Loan Tenure(yrs)

Monthly Instalment (EMI)

Total Interest Amount

Total Amount (Principal + Interest)

20,00,000

9.75

1

1,75,599

1,07,192

21,07,192

20,00,000

9.75

2

92,059

2,09,422

22,09,422

20,00,000

9.75

3

64,300

3,14,796

23,14,796

20,00,000

9.75

4

50,485

4,23,298

24,23,298

20,00,000

9.75

5

42,248

5,34,909

25,34,909

20,00,000

9.75

6

36,800

6,49,602

26,49,602

20,00,000

9.75

7

32,945

7,67,346

27,67,346

20,00,000

9.75

8

30,084

8,88,103

28,88,103

20,00,000

9.75

9

27,887

10,11,832

30,11,832

20,00,000

9.75

10

26,154

11,38,486

31,38,486

20,00,000

9.75

11

24,758

12,68,014

32,68,014

20,00,000

9.75

12

23,614

14,00,361

34,00,361

20,00,000

9.75

13

22,663

15,35,467

35,35,467

20,00,000

9.75

14

21,865

16,73,271

36,73,271

20,00,000

9.75

15

21,187

18,13,706

38,13,706

HUDCO Home Loan Amortization Table

Year

Principal

Interest

Balance Amount

1

Rs. 61,965

Rs. 192,279

Rs. 1,938,035

2

Rs. 68,282

Rs. 185,962

Rs. 1,869,753

3

Rs. 75,247

Rs. 178,997

Rs. 1,794,506

4

Rs. 82,919

Rs. 171,325

Rs. 1,711,587

5

Rs. 91,376

Rs. 162,868

Rs. 1,620,211

6

Rs. 100,695

Rs.153,549

Rs.1,519,516

7

Rs. 110,963

Rs. 143,281

Rs. 1,408,553

8

Rs. 122,280

Rs. 131,964

Rs. 1,286,273

9

Rs. 134,748

Rs. 119,496

Rs. 1,151,525

10

Rs. 148,489

Rs. 105,755

Rs. 1,003,036

11

Rs. 163,631

Rs. 90,613

Rs. 839,405

12

Rs. 180,319

Rs. 73,925

Rs. 659,086

13

Rs. 198,709

Rs. 55,535

Rs. 460,377

14

Rs. 218,969

Rs. 35,275

Rs. 241,408

15

Rs. 241,580

Rs. 12,944

Rs. 0

HUDCO Home Loan Customer Care

For any loan related enquiry please call at HUDCO’s customer care No.: 1800 116 162 (toll free).