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Home Loan FAQs

From the time you decide to invest in real estate to the time you decide the final property, any time in between is a good time to apply for loans. The loan amount is sanctioned in principle so that you can know the loan amount limit. This will help you plan your other expenses involved during setting up your dream home.
The good news is that you can avail a home loan for any property- ready, under construction or if you are constructing your own house. The loan can also be applied before the commencement of the project.
We are happy to say yes again! Before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible.
The Co-owners of the property for which loan has been sought can be co-applicants. The co-applicants must be blood relatives. Usually, joint applications are from husband-wife, father-son or mother-son.
To maximize the sanctionable loan amount.. Adding a woman as co-applicant also helps in getting a better interest rate.
Application form duly filled and signed
KYC documents – ID proof, Residence proof, Signature proof, Age proof
Income documents –
a. Salaried – Salary slips, Form 16, bank statements
b. Self-employed – ITR with financial statements, bank statements
Yes, we would be happy to assist you in doing the same. Kindly contact our nearest branch or representative for 'Balance Transfer' details.
We offer fixed and floating rate of interest
Yes. Along with a home, the loan also brings you tax benefits. According to the Income Tax Act, 1961, the borrower is eligible for a tax benefit on the principal and interest components of your home loan.
The prime security for the loan is the immovable property owned by the applicant. The title of the property should be clear, marketable and free from any encumbrances.

Non Housing Loan FAQs

This loan can be availed by anyone who needs funds for business expansion or personal needs. This facility can be availed only if you already possess a property.
The co-owner of the property needs to necessarily be a co-applicant. Other than that, the spouse or any blood relative or immediate family member, business partner, director and proprietor can be a co-applicant.
LAP is usually a property backed loan with a high quantum loan and lower rate of interest, whereas unsecured loan is mostly with low quantum at higher rate of interest. The high loan tenure offered in LAP reduces the EMI burden and repayment can be made in a longer duration.
Our quick and hassle-free loan is in 3 stages:
1. Application submission
2. Sanction - An approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
3. Disbursement
An EMI (equated monthly installments): Principal and Interest. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan.
Yes. We request you to ensure that the property is duly insured against fire and other hazards during the pendency of the loan.

Refinance/Balance transfer FAQs

Yes. Provided based on SHFL's underwriting norms, post evaulation of credit profile assessment, whatever additional eligibility arises will be financed to buy a new property.
Yes, you are welcome to apply for a loan to us for repaying a Home Loan availed by you from another Bank / Housing Finance Company or even your employer. For more details on 'Balance Transfer' kindly contact our nearest branch.

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