Piramal housing finance rate of interest in 2025 starts from 9.75% p.a. onwards for a maximum period of 25 years for home loans and 12% p.a onwards for a maximum period of 15 years for loan against property. Piramal Finance Limited, which previously functioned as Piramal Capital & Housing Finance Limited, delivers a variety of property funding services tailored to suit multiple financial requirements. These services cover financial assistance for acquiring homes. new ready-to-move-in or resale homes, financing for construction, renovation, or expansion of existing properties, and mortgage loan options tailored for both salaried individuals and self-employed professionals.
Features and Benefits:
Attractive Piramal housing finance rate of interest are available for salaried persons including cash salaried, all self-employed professionals and self employed non-professionals, business persons in both organised and unorganised sectors for providing EMI waivers, balance transfer facility, lower EMIs for first 5 years of the loan tenure and higher EMIs during the initial loan tenure for home loans.
Piramal Housing Finance’s rate of interest for housing loans and loan against properties are very competitive and lucrative when compared to the companies like Ujjivan SFB, Hero Fin Corp, Cholamandalam, Aadhaar Housing Finance Limited etc where the rate of interest can be higher on a case to case basis.
Piramal Housing Finance’s rate of interests for home loans and mortgage loans may look like to be at the higher side if compared to the premier scheduled banks and top tier housing finance companies but they provide loans to applicants of every possible profile available in the society including the people representing the unorganised sectors. This is very much a unique point which make them the best in their class.
Piramal Housing Finance rate of interest for home loans ranges from 9.75% p.a to the maximum of 15% p.a for the loan amounts starting from Rs.5 lakhs to the maximum amount of Rs.2 crore. In case of loan against properties the rate of interest ranges from 12% to 18% per annum starting from Rs.10 lakhs to the maximum amount of Rs.2 crore. With the Piramal Housing Finance rate of interest, the loan applicants can expect the following benefits:
- Attractive Interest rates starting at as low as 9.75% per annum for home loans and 12% p.a for loans against properties.
- Flexible tenure options of repayment of up to 25 years for home loans and 15 years for loans against properties.
- Flexibility to choose between a fixed and a floating interest rate.
- Borrowers can get expert advice on utilising the Piramal Finance Ltd housing loan and loan against property schemes with low expenses.
- Borrowers can acquire both housing loans and loan against property of up to 2 crores, depending on their eligibility. They can purchase a new or resold ready to move property, or construct a new home including purchasing a plot or renovate the existing property. In case of loan against property the fund can be used as per the requirements of the borrower.
Eligibility:
To avail the Piramal Housing Finance rate of interest for home loans and loan against property the applicant must meet the following eligibility criteria which are given as under:
A. The applicant or applicants must be salaried or self-employed persons.
B. In case of home loans the monthly income of the applicant must be at least Rs.15000 per month for salaried and self-employed persons. If the applicant is a cash salaried person then the minimum income must be net Rs.20000 per month to apply for a home loan. For loan against property the minimum income should be Rs.25000 per month.
C. The applicant must be of 21 years if he or she is a self-employed person.In case of salaried persons the applicant must be at least 23 years to apply for the home loan. If the salaried person is getting cash salary then the age should be at least 25 years for loan application.
D. The maximum age limit for the loan is 70 years at the time of loan maturity.
E. The nationality of the applicant or applicants must be Indian.
Piramal Housing Finance rates of interest on Different Home Loan and Loan Against Property Products:
The applicants who want to avail home loan from Piramal Finance Ltd can choose different home loan products which are designed based on the Piramal housing finance rate of interest for home loans. This will give access to the full range of home loan products. The interest rates as per the loan products are as detailed below:
Home Loan:
The applicant can apply and enjoy the benefits of the home loan facility by availing the competitive Piramal housing finance rate of interest for home loans starting from 9.75% p.a with flexible repayment tenures up to a maximum period of 25 years, and other provisions. Competitive and lucrative interest rates starting from 9.75% for a maximum tenure of 25 years with a maximum funding amount of up to INR 2 crores make Piramal Finance Ltd a classic NBFC compared to other NBFCs in the industry offering housing loans.
Construction Loan:
With an easy and hassle-free application process, the applicant(s) can procure home loans for plot purchase plus construction under Piramal Finance Ltd home loans. Depending on the eligibility, applicants can access various features and benefits, including flexible repayment tenure and a 90% loan-to-value ratio. The Piramal Housing Finance rate of interest for home loans for plot purchase and construction starts from 9.75% per annum.
Home Renovation Loan:
The home renovation loan is a very popular product. Everyone who needs to get the flooring, tiling, or other kinds of renovation work done without altering the carpet area of the existing house can apply for a home renovation loan where the Piramal Housing Finance rate of interest for home renovation loan starts from 9.75% p.a.
Extension Loan:
The plan of a person expanding the home space, such as an additional room or additional floor, then an easy and quick financing option can be the Piramal Finance Ltd home loan extension loan variant. Piramal housing finance rate of interest for extension of existing house property starts from 9.75% per annum.
Home Loan Balance Transfer:
The existing home loan borrowers from other banks and housing finance companies (HFCs) or non-banking financial companies(NBFCs) where interest rates are more than Piramal Housing Finance rate of interest can enjoy the benefits of the home loan balance transfer facility by Piramal Finance Ltd with competitive interest rates, flexible repayment tenures, and other provisions like top up amount. Interest rates start from 9.75% for a maximum tenure of 25 years with a funding amount ranging from Rs.5 lakhs to Rs.2 crore.
Loan Against Property:
The borrower can avail the benefits of Piramal Housing Finance rate of interest benefits of loan against property which are very much competitive particularly for the persons who are into employment as a salaried person with unorganised sectors or doing micro and small businesses in not so organised manner such as hawkers, footpath vendors and even app cab drivers.
Piramal Housing Finance rate of interest for Government Employees:
If the applicant or applicants are State or Central Government Employees then they can get ample funding of up to Rs.2 crore to meet their financial needs for the procurement of a new or resold ready to move property which can be a flat or a house or applying for loan against property. They can also go for home construction, home extension, home renovation or even balance transfer of existing home loan with top up facilities.
Piramal Housing Finance rates of interest for home loan are attractive and competitive, along with a full range of features and benefits, making the Piramal Finance Ltd’s schemes of Home Loan for Government employees an attractive as well as a lucrative funding option.
Piramal Housing Finance rate of interest of Home Loans and loan against property for Women applicants:
A woman applicant can opt to procure a Piramal Finance Ltd home loan and loan against property facilities. Being a woman applicant she will access attractive Piramal housing finance rate of interest, fast loan sanctions, extensive funding options, reduced EMIs, an easy application process, and more.
Why are Piramal Finance Home Loan Interest Rates considered to be the best option?
Piramal Finance Ltd home loans are very much prominent in India especially for the people representing the unorganised sector of employment. With Piramal Housing Finance rate of interest for home loans starting from 9.75% per annum and 12% p.a for loan against properties, Piramal Finance Ltd. offers a variant home loan products to cater a wide range of customer needs.
Additionally, home loans are required for salaried employees both normal and cash salaried persons, self-employed professionals including caution profiles like advocates, and women based on their eligibility criteria with flexible repayment tenure of up to 25 years.
Applying for Piramal Finance Ltd. home loans gives access to an attractive bouquet of Piramal housing rate of interest compared to other lenders and substantially saves both time and money.
Loan against property is not available for the cash salaried persons.
What are the factors which may affect Piramal housing finance rate of interest for home loans & loan against property and EMI?
Every borrower of a home loan is aware of the factors that affect the Piramal housing finance rate of interest for home loans & loan against property and EMIs can assist a customer in opting for the loan policies with prudence.
These elements that influence interest rates can also help strengthen your credit profile, reduce EMIs, support better financial planning, and offer several other benefits. Some major factors that affect the Piramal Finance home loans are mentioned below:
- The flexibility of the interest rate which may be floating or fixed rates.
- Monetary Policy Committee policies on standard market interest rates.
- Property evaluation and loan-to-value ratio.
- Location and condition of the property.
- Duration of repayment
- Creditworthiness of the applicant.
- Repayment behaviour of the applicant.
How to calculate Piramal Housing Finance rate of interest for home loans and loan against property?
The home loan and loan against property interest rates are always recommended to be calculated by using a home loan EMI calculator before applying for the loan scheme. This provides a rough projection of what future interest payments may amount to.
Consequently, the borrower can create an appropriate financial plan during their loan repayment tenure, easing their expenses. The easiest way to calculate the EMIs with Piramal Housing Finance rate of interest for home loan is by using an online calculator available.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
- ‘P’ stands for the Principal amount,
- ‘R’ stands for the interest rate,
- ‘N’ stands for tenure.
Piramal Housing Finance rate of interest for Home Loan and loan against property for existing customers:
The existing customers who are holding accounts with the Piramal Finance Limited have the advantage of being a trusted account holder. Consequently, customers have a higher chance of getting their loans sanctioned.
Additionally, it enables customers to receive a pre-qualified loan offer.The interest rates for existing customers for home loan and loan against property starts at 9.75% p.a.and 12% p.a respectively.
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