AU Small Finance Bank avails a hassle-free home loan with our best-in-class services. AU Small Finance Bank Limited is an Indian scheduled commercial bank that was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017.
A home loan or housing loan is an amount of money borrowed from the bank or NBFC to purchase, construct or renovate a house/flat. AU Small Finance Bank Home Loan is one of the home loan providers that offer financial help to customers with low/middle income in order to buy or construct a new house. The AU Housing loan, like any other loan, is decided upon the factors such as income, credit history and repayment capacity. Besides, the loan comes at competitive interest rates and minimal paperwork. Let us scroll through the section and know what AU Housing Finance loan has to offer.
Here are the major features that you get to enjoy in AU Home loans:
Loan Amount : The minimum loan amount you can get availed by AU HFL is Rs 2 lakh. The amount of home loan to be provided to you is determined by a number of factors including your income, the purpose of applying for a home loan and of course, your credit score.
Repayment Tenure : You get to enjoy a flexible period to repay the loan amount you avail from AU Housing Finance Loan. The maximum repayment tenure you can avail is 20 years.
PMAY Benefits : The AU Housing Finance offers financial relief to the borrowers Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS).
Tax Benefits : As per Section 24, 80EE & 80C, the borrowers get tax relief when availing the AU housing loan.
Convenient Repayment Options The loan amount of AU Home loan can be repaid via AU Small Finance Bank loan, cheque, cash deposits, Automated Clearing House (ACH).
Hassle-Free Process : The AU home loans demand minimum paperwork and offer a hassle-free loan procedure along with quick disbursements.
Doorstep Services : You need not to go anywhere when AU brings you the convenient banking experience home. AU Finance Home loan provides doorstep services to its customers which makes the procedure more convenient.
To apply for a home loan, you have to pay fees and charges applied by the AU Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from AU Small Finance Bank i.e joining fee, annual fee, interest rate, late payments charges etc.
|
TYPE |
CHARGES |
|
Maximum Loan |
Rs.25 lakh |
|
Maximum Loan Tenure |
20 years subject to your retirement age |
|
Interest Rate |
12.5%-19% (Floating) |
|
Repayment |
Flexible repayment via EMIs |
|
Processing Fee |
2% of the loan amount |
|
Prepayment Charges |
NIL if you do it on your own. If you prepay by taking loan from a bank, HFC or NBFC, then 3%-5% plus service tax, as applicable, would be deducted from the borrower |
|
Late Payment Charges |
3% per month |
There are different types of home loans provided by AU Housing Finance loans that make your search more effortless. These types of AU home loans offer different purposes. Let us dig better about them.
Home Purchase loan is a branch of AU Housing Finance home loan that can be availed in order to make a purchase of a flat, house or bungalow.
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 20 years |
|
Processing Fees |
Up to 2% of loan amount |
AU Home Construction loan is availed to help you seamlessly fulfill your dream of constructing a new house. This loan comes at competitive interest rates and features a simple procedure.
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 20 years |
|
Processing Fees |
Up to 2% of loan amount |
AU home loan will give you a hand in implementing your plan to renovate your house. You can use the AU Home Improvement loan to make changes here or there in your house and make it look young and beautiful.
AU Home Top Up loan is a type of AU bank home loan that you can use to add more money to your existing loan and that too at competitive interest rates and quick processing.
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 10 years |
|
Processing Fees |
Up to 2% of loan amount |
Under this type of AU Bank home loan, you can transfer your existing loans to the AU Bank and enjoy lower EMIs.
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 20 years |
|
Processing Fees |
Up to 2% of loan amount |
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 20 years |
|
Processing Fees |
Up to 2% of loan amount |
AU Land Purchase & Construction Loan is availed to help purchase a land to construct a house.
|
Loan Amount |
Starts at Rs 2 Lakh and it goes up to Rs 5 Cr. |
|
Interest Rate |
Up to 22% |
|
Loan Tenure |
Up to 20 years |
|
Processing Fees |
Up to 2% of loan amount |
Here is the eligibility criteria for AU Home loan:
The loan applicant should be Indian.
The loan applicant should be a salaried/self employed.
The age of loan application should be at least 18 years.
The age of an applicant should not exceed 75 years during loan maturity.
When applying for the AU Housing Finance home loan, you need to submit certain documents. You can check the following documents required to be submitted by salaried applicants and self employed applicants.
|
Documents |
For Salaried Individuals |
For Self Employed Individuals |
|
Proof of Identity |
Aadhar Card, Voter ID, PAN Card, Driving License |
Aadhar Card, Voter ID, PAN Card, Driving License |
|
Proof of Address |
Telephone Bill, Electricity Bill, Passbook, Ration Card, Passport, Bank Statement |
Telephone Bill, Electricity Bill, Passbook, Ration Card, Passport, Bank Statement |
|
Income Proof |
Salary Slips for last 3 months, Bank Statement for last 6 months |
Bank Statement for last 6 months, ITR for last 3 months, Profit & Loss Account for last 3 months acknowledged by CA, Tax Deduction Certificate, Self-Assessment Tax Challan, Partnership Deed Copy |
|
Other Documents |
Detailed cost estimate for the property to be constructed or renovated |
Detailed cost estimate for the property to be constructed or renovated |
How to Track the AU Home Loan Application Status
If you are wondering about the whereabouts of your application status for AU Home loan then you can track it using simple methods.
Here is how you can track the AU Bank Housing Loan application status:
1. Offline: You can contact the customer service and enquire about the status of your home loan application. Alternatively you can visit the nearest branch to do the same.
2. Online:
Visit the official website of AU Small Finance Bank.
Spot and click the “Retail Loans” section.
Hit the “Home Loans” section.
Now click the “Track Your Application” option.
You need to enter your registered mobile number.
AU HFL takes certain factors into consideration when deciding the amount of loan you are eligible for. The bank will use an eligibility calculator using the factors to calculate the loan amount you should be availed.
Here are the factors that affect your AU home loan eligibility:
Monthly Income
Property Value
Employment Status
Business Status
Credit Score
Savings
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
|
|
12.5% to 19% |
All customers with savings or current accounts can have access to AU Small Finance Bank net banking or mobile banking platform. It is hassle-free and easy to use. One can register for AU Small Finance Bank net banking by following the below-mentioned steps:
Go to the homepage of AU Small Finance Bank net banking or visit the web portal of AU Small Finance Bank.
On the home page, look out for the option ‘New user registration’ or a similar option.
Proceed further, and enter details like bank account number, branch details, registered mobile number, and click on ‘Submit.’
As you click on ‘submit’ a one time password is sent to the registered mobile number. Enter the OTP and click on ‘confirm.’
Clicking on ‘confirm’ will create your temporary login details with a temporary username. Users can create their password.
After creating the password login and creating your permanent username, and accept all terms and conditions.
There are two methods which you can opt for in order to apply for an AU home loan, offline and online.
Offline Method: In order to apply for the AU home loan via offline method, you need to visit the nearest branch of the bank and submit the application along with the required documents.
Online Method: If you want to apply for the AU home loan using the online method then you can follow the simple steps mentioned below:
Visit the official website of AU Small Finance Bank.
Spot and click the “Retail Loans” section.
Hit the “Home Loans” section.
Now, select the type of home loan you wish to apply for.
Once you are on the page of that home loan, click the “Apply Now” option.
Then, you need to fill in the necessary information as asked in the form.
Click on the “Apply Now” option.
After you submit the application, you will get a call from the representative for further procedure.
Here are the multiple channels to reach out to the bank:
Toll free number: 1800 1200 1200, 1800 26 66677
Non toll-free number: 0141 - 6133000, 0141 - 3071800
Email: [email protected]
The following formula is used to calculate EMI of AU Bank Home Loan :
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
The maximum tenure for repayment of AU home loan is 20 years. However, the period you get to repay your loan amount also depends on various factors including the type of loan you have availed, loan amount, your profile and the purpose for which you have availed the loan.
There are multiple ways to reach out to the bank for any query or complaints. To get in touch with the AU bank, you can:
You can also visit the nearest AU branch and get in touch with the executive.
You can track the application online by visiting the official website of AU Small Finance Bank. You can also reach out to the customer service or nearest branch enquire about the status of your AU Home Loan status.
Last Updated on : 08/Mar/2021Know More About
You're eligible for a Au Small Finance Bank Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Au Small Finance Bank Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 12.5% - 19% |
| Processing Fees | 2% of the home loan |
| Loan Tenure | 1 year to 20 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator