Rural Home Loan 2023

 

Friends, in this article we will talk about rural home loans. Friends, it is everyone’s dream to have a nice house of their own.

To build or buy a house, a good amount of money is required at once, but for those who do not have that much money at once, the best option left is to take a home loan.

All the major banks and some other financial institutions in the country provide home loans to the consumers at different interest rates and terms and conditions.

In urban areas, people do not face any problem in getting a home loan, but sometimes people in rural areas face difficulties in getting a home loan.

Many banks hesitate to give home loans against rural property.

But it is not that there is no option of rural home loan. People often seek information about rural home loans.

And here we will mainly discuss about rural home loans only. Will know what is rural home loan?, how can it be taken? Etcetera.

Rural Home Loan

Friends, it is a bit difficult for people to take home loans in rural areas as compared to urban areas, because generally, banks and other financial institutions do not want to give loans on rural property.

But it is not that you cannot take a loan in rural areas, there are some banks and other financial institutions that provide home loan facilities especially in rural areas.

HDFC Rural Housing Finance is a leading name for home loans in rural areas directly from banks.

One of the largest private banks in the country, HDFC Bank, offers the option of HDFC Rural Housing Finance Scheme to provide home loans to people in rural areas.

And here we will mainly talk about HDFC Rural Home Loan only.

How to take a rural home loan (How to take a home loan)
You can take a rural home loan through any bank or financial institution. In today’s time, there are many such banks and financial institutions, which provide loans to the people.

It was difficult to get a home loan in rural areas as compared to urban areas, for this this loan has been made only for rural people.

In today’s time, India’s largest private bank HDFC as well as India’s largest government bank SBI Bank and other government and private banks provide rural home loan facility to their customers.

HDFC Gramin Home Loan (hdfc gramin home loan)
Friends, HDFC Bank helps you find the right option for taking a home loan in rural areas.

If you are an agriculturist, and want to take a loan to build a house in a rural area (or even in an urban area), HDFC Bank makes this dream easy for you.

Based on your cultivable land and crops sown, HDFC Rural Housing Finance offers you a home loan as per your needs.

HDFC Bank also offers home loans to salaried and self-employed individuals to construct their own house in their village.

Under this HDFC Rural Housing Finance Loan, people in rural areas can take loans ranging from Rs .30 lakh or less to Rs 75 lakh or more, depending on how much their property is, and according to that you will get How much money is needed

90% of the property cost is available on property up to ₹ 30 lakh, 80% of the property cost on property from ₹ 30.01 lakh to ₹ 75 lakh and 75% of the property cost on property above ₹ 75 lakh.

HDFC Bank has specially designed loan options for farmers, planters, horticulturists, dairy farmers, etc. to purchase under construction/ new/ existing residential property in rural and urban areas.

You can take a loan from here to build your own house on a freehold / loose hold residential plot in rural and urban areas.

Farmers do not need to mortgage any agricultural land etc. to avail this rural home loan.

They are given a long tenure of 20-30 years to repay the loan.

There are no hidden charges in the rural loan scheme of this bank.

As we said, under this loan is also available for Salaried / self employed people to buy under construction / new / existing residential property in their village.

Among other facilities, it is not mandatory for farmers to submit income tax return while applying for home loan, apart from this, many other facilities like attractive interest rate, customized repayment options as per the requirements of the applicant are available in it.

HDFC Gramin Home Loan Interest Rates
The interest rate is most important for any loan.

Talking about the interest rates of this HDFC rural home loan –

Loans up to Rs 30 lakh for women – interest rate ranging from 6.95 to 8.45% per annum.
For others – 7.00 to 8.45% annual interest rate on loans up to 30 lakhs.
Loans for women ranging from 30.01 lakh to 75 lakh – interest rate ranging from 7.20 to 8.60% per annum.
And for others on loans from 30.01 lakh to 75 lakh – 7.25 to 8.60% annual interest rate.
Loans of Rs 75.01 lakh and above for women – interest rate ranging from 7.30 to 8.70% per annum.
And for others on this loan of 75.01 lakh and above – interest rate ranging from 7.35 to 8.70% per annum.
Another question related to home loan is being asked by many people.

Who keeps in mind that which bank offers the cheapest home loan?

Talking about it here, the interest rates of this HDFC Rural Home Loan, or the EMI that is made accordingly, is applicable to the loan taken under HDFC’s Adjustable Rate Home Loan Scheme, and at the time of disbursement There may be change.

The above home loan interest rates are subject to change as per HDFC’s RPLR. All loans are at the sole discretion of HDFC limited.

Who can apply for Gramin Home Loan?

Applicants can apply for this rural home loan either individually or jointly. All the proposed owners of the property have to make a co-application.

The age of the applicant should be between 21-65 years. They should be salaried or self employed.

Many people search related to how to take a loan to build a house, so any Indian citizen, male or female, can apply for it.

Documents Required for Rural Home Loan

For this HDFC Rural Home Loan approval, all the applicants/co-applicants should bring the duly filled and signed application form along with proof of identity and residence (KYC), income proof and other common documents required for the loan to the bank. have to be submitted.

Apart from this, talking about fees etc., it can vary according to the loan amount, depending on how much loan you have applied for.