Home Loans

Found your fantasy house but struggling with the price tag? We can help with Home Loans designed for your needs. Our low interest rates and easy EMI plans can help unlock the door to your future.

Loan Against Property

Our Loans Against Property can help you through life’s biggest moments. Weddings, personal passions, educational fees or career changes - we’ve got you covered. Refinance any existing commercial or residential property at the best rates today.

Balance Transfer

With our Balance Transfer option you can transfer your existing home loan to Godrej and enjoy the benefits of a plan that works for you. Along with interest rates tailored to your comfort, enjoy higher eligibility, along with a Top-Up loan, to take care of your extra needs.

Plot Loans

Found the perfect spot to build your future? Our Plot Loans can help make it yours. Our loans offer you the financial help, low interest rates and flexible payment options you need to construct the home of your dreams.

Commercial Property Loans

Take your business to the next level with a Commercial Property Loan that finances construction, extension or improvement to make your business goals become reality. With plans designed for your life, you can rest assured that your business empire is in safe hands.





Our Home Loans

 

Godrej Home Loans are designed for your life. With interest rates and easy EMI plans tailored for
your needs, we can help open the door to your dream home.

Our Home Loans

 

Godrej Home Loans are designed for your life.

With interest rates and easy EMI plans

tailored for your needs, we can help open the

door to your dream home.


Zero-Touch Home Loans

Interest rates from 8.39% onwards
Interest rates from 8.39% onwards

Low Interest Rates from dynamicHomeIntRate%

Longer tenures of upto 20 years
Longer tenures of upto 20 years
dynamicHomeIntRate%

Speedy Sanctions and Disbursal

Loans for both business & professional
Loans for both business & professional

Longer tenure of up to 30 years

Loans up to 10 Cr
Loans up to 10 Cr


Key Features






homekey


  • Low interest rates starting from 8.39% per year, EMIs from INR 839 per lakh
  • Highest eligibility in the market
  • Special Features like 'Design your EMI' with 'Flexible Payment Plan' & 'EMI Break' for convenience. Parallel Funding to make it easier to afford your dream home.
  • Lower EMIs with longer tenures of up to 30 years
  • Instant sanction* – Decide with confidence with a decision in under 15 minutes!

*T&C Apply

Home Loan Key Benefits



Buying an Under-construction Property and worried about the double hit of Rent and Interest payments?
Manage your finances better with Flexible Payment Plan from Godrej Capital


homeflexible-repayment-new.jpg

  • Choose the Interest payments to be paid during the Under-construction period as per your convenience above a minimum threshold; the amount can be less than or equal to actual Interest Payments.
  • You can pay different interest amounts in different periods as per your selection, e.g. for the First 6 months, pay INR 9999; for the Next 12 months, pay INR 12,999.
  • This can be combined with Parallel Funding offerings across leading developers

*T&C Apply

Home Loan Design Your EMI


We understand that life can be hard at times.
We can ease it financially by giving you an EMI break when you most need it:
 
homeemi-break

  • Avail breaks for 3 predefined EMI’s/ PEMI’s in the first 3 years of the loan. Yes!, you pay 11 out of 12 months in the 1st 3 years of the loan.
  • Salaried customers can avail an EMI Break in March (tax season), Salaried NRI & Self-Employed Business customers in September (festival season) and Practicing Professionals in June (holiday season).

*T&C Apply

Home Loan EMI Break



Does the thought of arranging the down payment for buying a new property worry you?
We understand the burden of arranging a lump sum of money and can help:


homeparallel-funding.jpg

  • Split the down payment into smaller, more comfortable amounts.
  • These, more affordable payments can be made as per the stage of construction.
  • This will considerably ease your upfront burden and bring you much closer to owning your dream home. 

*T&C Apply

Home Loan Parallel Funding


Low Interest Rates


Starting a new life in a new home can be tough. Our interest rates on Home Loans ease that transition and give you financial peace of mind.

 




RESIDENT

Salaried

To

Per Annum
NON-RESIDENT INDIAN

Salaried

To

Per Annum
BUSINESS

Self Employed

To

Per Annum
PRACTICING PROFESSIONALS

Self Employed

To

Per Annum


*T&C Apply




Calculate Your Savings

Calculate Your Savings



%
Loan Tenure
Yrs
Ms

Your Monthly EMI

For the years at the % of interest rate

Total Interest Payable

Total Payment (Interest + Principal)


How to use the EMI Calculator?

  • Use the sliding button to input the amount you need to avail as a loan.
  • Input the interest rate from 6-15% as per your Credit Evaluation.
  • Adjust the Loan Tenure options (months and years) to generate your monthly and total payment amounts.
     

How our EMI Calculator can help you:

  • Make a well-informed decision before making any financial commitments.
  • Accurately assess the tenure that would be feasible for your loan repayment.
  • Start long-term financial planning when all your EMI data is easily available.
  • Gauge the amount of interest you would pay and assess your risks with ease.
%
Loan Tenure
Yrs
Ms

Your Home Loan EMI Will Be

Your Home Loan Eligibility


How to use the Eligibility Calculator?

  • Use the sliding button to input your net monthly income. This can include income from multiple sources.
  • Enter the total amount of any existing loans or EMIs.
  • Input the interest rate from 6-15% as per your Credit Evaluation.
  • Adjust the Loan Tenure options (months and years) to your ideal repayment period to generate your Home Loan Eligibility Amount.
     

How our Eligibility Calculator can help you:

  • Quickly determine the amount you can avail as a Home Loan without any lengthy paperwork and reduce any risk of application rejection.
  • Start planning your future financial investments with greater accuracy.
  • Assess the benefits of a Godrej Finance Loan with ease.
Financial Details
Yr

Income Tax Benefits

Income Tax Payable includes 4% cess.

Income Tax Payable After Home Loan

Income Tax Payable Before Home Loan


How to use the Tax Saving Calculator?

  • Select your age with the sliding button.
  • Input your total taxable income amount.
  • Enter your annual principal amount and interest amount paid on your loan in INR to generate the final payable tax amount before and after your Home Loan.
     

How our Tax Saving Calculator can help you:

  • As per Section 80C and Section 24B of the Income Tax Act 1964, you could be eligible for tax saving benefits via both the principal and interest components of your loan.
  • Our Tax Saving Calculator to accurately arrive at your tax-saving benefits for the year.
  • Account for your tax savings and plan future investments with ease.

Documents Just what is needed. Nothing more.






Pan Card or Form 60 is a mandatory requirement for the loan application processing
For Proof of Identity and Address, any one of the below documents is acceptable
  • Proof of possession of Aadhaar number
  • Valid Passport
  • Valid Driving License
  • Voter’s Identity Card



For Income Documents, we accept
  • Latest 1 month salary slip, or a Salary Certificate authorized by the signatory of the company on the letter head
  • Proof of employment for 2 years (Form 16 or Joining date on salary slip or employer letter or appointment letter etc.)
  • Last 6 months statement of bank account where salary is credited
  • Proof of bonus of last 2 years or Variable incentive for last 6 months – Bank statement reflecting the credits and salary slip letter reflecting bonus or variable incentive

For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller


Pan Card or Form 60 is a mandatory requirement for the loan application processing
For Proof of Identity and Address, any one of the below documents is acceptable
  • Proof of possession of Aadhaar number
  • Valid Passport
  • Valid Driving License
  • Voter’s Identity Card



For Income Documents, we accept
  • ITR and Financial statements including P&L, Balance Sheet, COI & Schedules - 2 Years - certified by a Chartered Accountant
  • Bank Statements for last 12 months
  • Business Continuity Proof for 5 years
  • Tax Audit Report, if applicable

For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller



Pan Card or Form 60 is a mandatory requirement for the loan application processing
For Proof of Identity and Address, any one of the below documents is acceptable
  • Proof of possession of Aadhaar number
  • Valid Passport
  • Valid Driving License
  • Voter’s Identity Card



For Income Documents, we accept
  • ITR and Financial statements including P&L, Balance Sheet, COI & Schedules - 2 Years - certified by a Chartered Accountant
  • Practice Continuity Proof for 5 years
  • GST challans for last 1 or 2 or 3 quarter since filing of last returns
  • Tax Audit Report, if applicable
  • Bank statement showing Rental credits & Registered Rent Agreement, if applicable

For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller


  • In case of Indian Passport Holder- Certified copy of Valid Indian Passport along with copy of valid visa copy or work or residence permit copy.
  • In case of Foreign Passport holder, copy of valid Foreign Passport along with OCI (Overseas Citizen if India) card or PIO (Person of Indian Origin) card.



For Income Documents, we accept
  • Latest 3-month salary slip, or a Salary Certificate authorized by the signatory of the company on the letter head
  • Proof of employment for 5 years (Tax returns or Employment contract or Joining date on salary slip or employer letter or appointment letter etc.)
  • Last 6 months statement of bank account where salary is credited and last 6 months NRE or NRO bank statement.
  • Latest valid Contract Copy and / or appointment letter
  • Complete Continuous Discharge Certificate (CDC) for employees working on Ships
  • Overseas Credit Bureau report not older than 30 days

For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller

FAQs

FAQs


A Home Loan is an amount of money that a person borrows from a financial institution at a certain rate of interest for a particular number of years (tenure), which is to be paid back in equated monthly instalments (EMI). To cover the risk of the financial institution, the property for which the loan is taken as a security.

There are different types of Home Loans. At Godrej Capital, we provide

 

  • Home Loans for Ready to Move-in, Under construction and resale homes

  • Home Loan Balance Transfers (which means, the loan can be shifted from a different financier to Godrej Capital resulting in savings for the customers)

  • Top-up on existing Home Loans for renovating or improving your current home.

  • Loans for Land/Plot Purchase

If you are looking for a home loan, Apply Now and get closer to your dream home.

Godrej Capital Home Loans are designed to enable you to buy your dream home. At every step, we keep our customers’ needs at the centre. This speaks for itself in our home loan features

 

  • Low interest rates as low as 8.39% p.a.

  • Instant in-principle Sanction

  • Quick and hassle free disbursal

  • Special features like EMI Break and Parallel Funding

With EMI Break, take a pause and prioritize your expenditures. We are here to share your burden by giving you an EMI break when your monthly expenses are impacted for factors and events like festivals, holidays, insurance premiums, taxes, school fees of your children, to name a few, at pre-agreed timelines.

 

Relaxed Down-Payments, with Parallel Funding

The first step is often the most difficult part and we are here to make it easy for you. Don’t worry about arranging huge down payments for owning a property. At Godrej Capital, we bring you closer to your dream home. Pay your part on a pro-rata basis, rather than paying all at once.

 

Watch this space for more innovative home loan features.

 

If you are looking for a home loan, Apply Now and get closer to your dream home.

 

Please note that specific T&C apply for product variants. For more details please contact with an accredited employee / partner or write to us at  customercare@godrejcapital.com  for answer on specific query.

 

 

An under construction property refers to a housing unit which is in the process of being constructed and which would be handed over to the buyer post completion by the developer.

Step 1: Submit your Application
The loan application you submit will consist of duly filled loan application form, proof of income, proof of identity and address.
Step 2: Application Evaluation and Loan Sanction
Our internal team immediately gets to work for the evaluating the application and processing it further for the sanctioning of the loan.
Step 3: Property valuation
Once the property papers are shared, & legal technical valuation of the property is done to see if all is in order and approve the disbursal of the loan. Of course, this step gets much easier when you’re buying a home from an approved project.
Step 4: Loan Disbursal
Post these approvals, signing the loan agreement takes place, leading to disbursal of the loan

A financial institution undertakes certain risks while lending money to borrowers, so for prudent lending, the institution checks the borrower's repayment capacity through his/her savings, income, age, qualifications, nature of work, any loans currently served, etc. This is called Credit Evaluation and determines the loan eligibility comprising of the loan amount, tenure of the loan and the rate of interest.

A financial institution empanels agencies for objective valuation of the property it takes against the loan as security. The valuation is based on its age, usage, legal documentation, condition as well as geographical location. Market conditions also come into play, including whether there is a high demand for that particular type of property in the area in which it is located.

Registration of a property includes necessary stamping and paying of registration charges (may vary from state to state) for a sale deed and getting it recorded at the sub-registrar's office of the concerned jurisdictional area.

If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the home loan. In case of sole ownership of the property, any member of your immediate family can be a co-applicant. If joint income is considered to arrive at eligibility, then the second person needs to come in as a co-applicant.

National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective; NACH offers a fast and efficient clearing platform. The NACH debit mandate is used by GHF to automatically deduct monthly instalments from your bank account for the loan availed.

Two ways to cancel your NACH mandate are:
 

  • You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.

  • You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.

You need to mention the Loan Account Number (LAN) in the request, and our team will connect with you within 48 hrs.

Processing fee is a one-time charge to be paid by the borrower to the financial institution to covers the cost incurred to process a loan application.

A loan sanction letter is issued by a financial institution post evaluation of an applicant’s creditworthiness and other details like KYC etc. This letter is proof of eligibility of a loan from the financial institution and mentions the main loan details like maximum loan amount, maximum tenure, type of rate of interest EMI amount and special conditions if any. A sanction letter with these conditions is valid for a specified period of time.

A Power of Attorney allows a person to grant another person the right to make decisions regarding the person's assets, finances and real estate properties.
There are two types of power of attorney.
First, the 'General Power of Attorney'where a property owner confers 'general' rights. The rights include but are not limited to sell, lease, sub-lease etc.
Second, is the 'Special Power of Attorney'wherein only a specific right is given by the owner to the chosen person.

The EMI is the amount of money a borrower pays back to a financial institution on a monthly basis towards the loan availed. It comprises of 2 components – the principal and the interest. So with every EMI, the borrower pays back a portion of the loan amount as a principal and a certain amount of interest. The EMI amount remains constant and by the end of the tenure, the borrower has paid back both principal and interest amount in full.

 

At Godrej Capital, you can avail of product variants where we give you a break from your EMI when you need it the most. Read more here.

Pre-EMI is the interest amount paid by the borrower till the time final disbursement is pending and EMI is initiated. It is the interest on the amount of the loan disbursed and is payable every month from the date of each disbursement up to the date of commencement of the EMI. Pre-EMI is mostly applicable in cases where Under Construction property is being purchased on loan

The time period (in months or years) for which a financial institution lends the money to a borrower. The tenure may be different from person to person.
At Godrej Capital, Home Loans come for long tenures up to 30 years.

The rate of interest is the percentage of principal charged by a financial institution from its borrower for the money lent. It is paid over and above the principal amount borrowed.
There are 2 types of rate of interests

 

  • Floating Rate of Interest – The rate moves up and down with an index, at Godrej Housing Finance, all floating rate of interest loans are pegged to GHF PLR – Godrej Capital Prime Lending Rate. The rate varies over the repayment tenure of the loan.
  • Fixed-Rate of Interest – The rate remains the same for the entire repayment tenure of the loan.

Collateral is an asset (the property, for home loans) a financial institution accepts and keep as a security for a loan it extends till the loan is fully repaid. This helps the financial institution to cover its risks.

APF stands for Approved Project Funding.
Godrej Capital identifies projects by certain developers and builders and evaluates basis the properties’ legal and technical evaluation. If a project qualifies the necessary requirements, it’s included in the APF master of Godrej Capital.
The TAT(turn around time) for a loan disbursal, is lesser, where a project is already an APF and the loan processing is much simpler.

Loan to Value (LTV) is the amount of loan divided by the total value of the property and is represented in %. A loan value of INR 75 lakhs for a property worth INR 1 Crore would mean 75% LTV.

Own Contribution or OCR is the same as a down payment. It is the difference between the loan amount Godrej Capital (or any financial institution) will provide and the total value of the property.
At Godrej Capital, we make OCR a breeze with Easy Down payment options we call Parallel Funding, where a borrower doesn’t get burdened and pays the down payment in parts on a pro-rata basis. This enables the borrower to buy his/her dream home sooner than he/she normally would.
OCR and down payment are also referred to as ‘Margin’ money.

The documents relating to transfer, sale, lease or any other form of disposal of immovable property. Registration is compulsory by law for all properties under Section 17 of the Indian Registrations Act, 1908. Once a property has been registered lawfully, it means that the person in whose favour the property has been registered is the lawful owner of the premises and is fully responsible for it in all respects.

Disbursement means paying out the loan amount to the borrower or the builder from which the borrower has bought the home. The disbursement can be either in full or in tranches depending on the type of home financed (tranches are common for under-construction properties) and the terms agreed between the financial institution and the borrower.

The Schedule of charges is the list of charges and corresponding amount levied by a financial institution over the duration of the loan, if applicable. For Godrej Capital, refer to the schedule of charges here.

A welcome letter is sent by a financial institution once a customer is fully onboarded. The welcome letter consists of the most important terms and conditions (MITC), Repayment Schedule, Schedule of Charges and all important loan details.

A loan account statement details out all the transactions completed in a particular loan account date by date. It also shows the outstanding balance due, the interest rate charged on that outstanding balance and any fees/charges incurred. However, the outstanding balance as reflected in SOA may not be the amount that you have to pay to close the account. To know the foreclosure / pre-closure amount contact +91 22 68815555.

Most Important Terms and Conditions details out the Loan details, repayment schedule, schedule of charges and any other relevant details of a loan account which a borrower must know. It is available on both website as well as on customer portal.

A repayment schedule is a table of detailed loan payments for every period, showing the amount of principal and the interest that comprise each payment until the loan is fully paid off.

An Interest Certificate is a document issued by the lender which details out the bifurcation of the Principal and Interest Amount paid towards a home loan account in a particular financial year.

The NOC, or No Objection Certificate, is a document that states that you have paid all the EMIs and cleared all other outstanding loan dues and is issued by the company post the closure of the loan account. Please note that till the time NOC is not issued you may have liability towards Godrej Capital.

As per Section 80C of the Income Tax Act, you can avail deductions up to Rs.1.50 lakhs on the principal amount repaid annually.

 

Under Section 24 of the IT Act, taxpayers are also eligible for benefits up to Rs.2 lakhs on the interest repaid against a home loan annually. Under section 80EE, first time home buyers can claim addition deduction of Rs. 50,000 for value of property up to Rs. 50 lakhs and loan taken up to Rs. 35 lakhs.

The income tax law provides for the claim of pre-EMI interest also, called the pre-construction interest, as a deduction in five equal instalments starting from the year in which the property is acquired or construction is completed, over and above the deduction you are otherwise eligible to claim from your house property income. However, the maximum eligibility remains capped at Rs. 2 lakhs.

Yes, these expenses can be claimed as well, under section 80C but only in the year in which the expenses are incurred and within the overall limit of Rs. 1.5 lakhs.

Bounce charges are incurred if the EMI is not paid by the borrower on the due date.

 

For more detail and updated information refer Schedule of Charges.

Late Payment Charges, also referred to as ‘Penal charges’ are the charges incurred on the late payment of the outstanding dues in case of EMI bounce, by the borrower.

 

For more detail and updated information refer Schedule of Charges.

Swap charges are incurred by the borrower for changing the repayment instrument or change in the bank account for NACH Mandates.

 

For more detail and updated information refer Schedule of Charges.

Recovery charges are levied by the Company for any expenses incurred on the collection of overdue from the borrowers.

 

For more detail and updated information refer Schedule of Charges.

Foreclosure or prepayment charges are the charges a borrower incurs for partly paying/closing the loan ahead of its full loan term.

 

For more detail and updated information refer Schedule of Charges.

Charges paid by the customer as per State laws to register Finance Documents.

 

For more detail and updated information refer Schedule of Charges.

Charges for registering charge on the property submitted as collateral and for uploading KYC details on CKYC.

 

For more detail and updated information refer Schedule of Charges.

Charges incurred by the Company for any legal actions against the Borrower/s in case of default.

 

For more detail and updated information refer Schedule of Charges.

No, it is not mandatory to obtain Insurance. However, Insurance is a voluntary risk mitigation device that helps customers in multiple ways, such as securing the asset, helping in paying off the loan liability in an unlikely event.

The insurance contract is between the Insurer and the customers. The company plays a limited role in facilitating the insurance contract between customers and Insurers. It will be the Insurer's responsibility to provide details and benefits to the customers.

Loan-linked Insurance covers a large amount of the loan liability. In any unforeseen circumstances like death, disability, hospitalization, and diagnosis of critical ailments, the Insurer can repay the loan liability through Insurance.

Credit-Life Insurance provides death cover for natural, accidental, and unnatural cause deaths. It also includes coverage for death due to Covid-19 and can be extended to co-borrowers. Customers can also avail the benefit of Section 80-C Income Tax deduction.

Survival-Benefit Plan is for critical illness insurance and provides additional cover for medical emergencies like heart attack, stroke, or cancer. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.

Health insurance aims to provide a defence against the hardship caused due to lack of income because of (a) Disease, (b) Accident, (c) Surgery and (d) hospitalization.

Property Insurance secures the property for which the loan has been availed; ensures the security of valuables within the house. It is applicable for entirely constructed property wherein the customer has possession of the property. The Claim amount is the reinstatement value of the property.



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