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Home Loans

Sundaram Home stands by you during each step of owning a home - be it purchasing, constructing or even renovating your home. Our competitive interest rates, flexible tenures, convenient repayment options and personalized service will make your journey to your dream home seamless.

Features

Quick processing and disbursal of loans

Insurance scheme in association with Royal Sundaram

Hassle-free personalised service and flexible approach

Specialised in-house legal and technical assistance

State-of-the-art infrastructure for document security

120+ branches across India to serve you better

Primary Applicant

Age: 18-65 YEARS

Nationality: INDIAN

Professional: SALARIED / SELF EMPLOYED

Gender: ALL GENDERS


Co-applicant

  • Adding co-applicant helps in maximizing the loan amount.
  • Co-applicant can be spouse or close family members.
  • Attractive interest rate for women co-owners.
  • All co-owners of the property ought to be co-applicants.

Gross Monthly Income (Rs.) 50000

₹ 5 K₹ 4 L

Tenure (Years) 1

1 Yr25 Yrs

Interest Rate (%) 8.5

6.5 %15 %

Other Loan Commitments (Rs.) 0

₹ 0₹ 4 L

Your Loan Eligiblity Amount is

0

Loan Amount 2000000

₹ 1 L₹ 400 L

Tenure (Years) 5

1 Yr25 Yrs

Interest Rate (%) 8.5

6.5 %15 %

Your EMI Amount is

0

KYC Documents
Proof of identity and address

  • Aadhaar Card
  • Driving Licence
  • PAN Card (Mandatory)
  • Passport
  • Voter ID Card
  • Bank Passbook with photo
  • Photo Credit Card
  • Any other Photo ID (subject to the satisfaction of the Company)

Income Documents
Proof of Income

    SALARIED
  • Last 6 months' Salary Slips
  • Last 6 months' Bank Statements, showing salary credits
  • Latest Form-16 and IT returns
  • SELF EMPLOYED
  • Last 12 months' GST Returns
  • Last 6 months' Bank Statements
  • Last 3 years' IT returns

Property Documents
Property related documents
Constructing your house on your plot of land

  • Original registered title deed in your favour
  • Parent document copies * linking the chain of transactions over the past 15 years
  • Encumbrance certificate for a minimum 13 years or (for prior period) @
  • Original plan approved from the Competent Authority &Lay out Approved Plan
  • Patta in your name
  • Original Estimation

* If the parent deed is prior 13 years and covers the same extent of property currently owned then such original prior / parent deed is also required.

@ If the parent deed is prior 13 years covers the same extent of property currently owned then the EC from the date of the said Original purchase/acquiring of the property is required.

Purchasing a Flat from Builder

  • Original registered sale deed for undivided share in favour of the customer
  • Original sale and construction agreement (To be registered if applicable) in favour of the customer
  • Original stamped receipt for the payments made by the customer to the builder (i.e. = Total property cost - Home loan amount)
  • Encumbrance certificate for a minimum 13 years or for prior period if applicable
  • Parent document copies for a minimum 13 years or for prior period of documents if applicable
  • Permission of Mortgage Letter by the builder in favour of Sundaram Home's format
  • Copy of approved plan and floor plan
  • Handing over of possession of flat
  • Completion certificate from builder

Buying a house on a resale basis

  • Original sale agreement between the seller & the customer
  • Original sale deed in favour of the seller
  • Parent documents * for a minimum 13 years *
  • Encumbrance Certificate for a minimum 13 years @
  • Patta and house tax receipt/ EB receipt (latest)
  • Original stamped receipt from the seller (i.e. = Total property cost – Home loan amount)
  • Copy of approved Building plan & Lay out Approved Plan
  • Draft sale deed
  • Evidence of handing over of possession by the seller

* If the parent deed is prior 13 years and covers the same extent of property owned by the vendor then such original prior / parent deed is also required

@If the parent deed is prior 13 years and covers the same extent of property owned by the vendor, then the EC from the date of the said Original purchase/acquiring the property is required.

Buying a flat on a resale basis

  • Original sale agreement between the seller & customer
  • Original sale deed in favour of the seller
  • Original construction agreement in favour of the seller
  • Original stamped receipts given by the builder favouring the seller
  • Parent documents * for a minimum 13 years *
  • Encumbrance Certificate for a minimum 13 years @
  • Latest property tax / EB/ Water & Sewerage receipt in favouring the seller
  • Original stamped receipt from the seller (i.e. = Total property cost – Home loan amount)
  • Copy of approved plan and floor plan
  • Evidence of handing over of possession by the seller

* If the parent deed is prior 13 years and covers the same extent of property owned by the vendor then such original prior / parent deed is also required

@If the parent deed is prior 13 years and covers the same extent of property owned by the vendor, then the EC from the date of the said Original purchase/acquiring the property is required.

Power of Attorney

THE POWEER OF ATTORNEY FORMAT USED IN CASE

When power of attorney is executed in India

  • Attorney should be a resident of India
  • Power of attorney is to be executed on a non-judicial stamp paper of Rs.100/- (State of Tamil Nadu)
  • The executant should execute in each page of the Power of Attorney and wherever the blanks relevant details are to be duly filled in.
  • A Judicial Magistrate or a Notary Public should ATTEST the signature of the executant.

In case of non-residents, if the power of attorney is being executed outside India

  • The attorney should preferably be a resident of India
  • The power of attorney should be executed on a plain paper as the case may be as applicable in the country in which the power of attorney is executed.
  • Any authorised official of the Indian Embassy/Consulate/Trade commissioner / Notary in the country where the executant resides should attest the signature of the executant.
  • The Power of attorney after being received in India, should be duly adjudicated / validated in the Concerned District Registrar, in India.
Power of attorney - Format :

FAQs

How soon will the loan be sanctioned?+

Approval and disbursement are subject to the necessary documents being in order. If the title is clear and proof of the borrower’s contribution is paid upfront, the process should take about 7 – 10 working days.

How is the interest on the loan calculated?+

Sundaram Home offers floating (variable) rate of interest which varies according to the market lending rates. Interest is calculated on monthly reducing balance basis, where the principal reduces every month from your EMI net of interest accrued.

What are the fees and charges payable?+

A part of the processing fee is payable upfront along with the loan application which is non-refundable. The remaining fee excluding the upfront fee and other charges such as Property & Personal Insurance, Documentation & Cersai charges are payable after sanction of the loan, but before disbursement.

What is the mode of repayment?+

EMI can be paid by Electronic Clearance System (ECS) or auto debit with select banks. In locations where ECS / auto debit is not available, EMI can be paid by post dated cheques. EMI can also be paid through salary deduction if the company has an arrangement with the applicant’s employer.

Are there tax benefits on home loans?+

Eligibility for tax benefits is present on the principal and interest components of the EMI paid on Home Loans (other than plot loans) under Section 80C & 24(b) of the Income Tax Act, 1961, that is in force as of date. These benefits are subject to change as per the policies of the Government.

Can home loan be availed in one city while the place of employment is in another city?+

Yes, definitely. Sundaram Home’s wide network across southern India ensures hassle-free processing of loans under such conditions.

Can loans be repaid ahead of schedule?+

Yes, loan can be repaid in part or in full ahead of schedule. Part prepayments will be accepted subject to the condition that only THREE such part payments will be made in a financial year and that the amount prepaid each time will be equivalent to not less than 6 EMIs.

Can the loan be availed with the assistance of a co-applicant?+

Co-applicant(s) can be co-owner(s) of the property in respect of which the financial assistance is sought. However all co applicant(s) need not be co-owners. Relatives as agreed by the company can join as co-applicant(s). Generally, co-applicants are husband, wife, father, son, mother, daughter, etc.