Home Loan: Get an Easy Home Loan with SMFG Grihashakti

Home Loan Eligibility Criteria

To qualify for a housing loan in India, eligibility depends on factors such as income, employment type, CIBIL score, and financial stability.

House Loan Eligibility for Salaried Applicants

• Applicants should be employed with multinational companies, government organisations or listed public firms.
• Employees of private limited firms, unlisted or closely held organisations, partnerships or proprietorship firms are also eligible to apply for a housing loan online.
• Applicants must have a stable income and corresponding income proof, like payslips.
• Applicants should have a CIBIL score of at least 700. 

House Loan Eligibility for Self-Employed Professionals/Business Owners

• Self-employed sole proprietors or individual business owners are eligible to apply for a home loan.
• Self-employed professionals like doctors, architects, artists, authors, and chartered accountants can apply for a house loan as well.
• Other eligible entities include partnership firms, private limited companies/closely held/unlisted companies.
• Applicants must show proof of steady income and profits to ensure repayment capacity.
• Applicants should have a CIBIL score of at least 700.

*Please note that apart from these, other factors may also be used to determine your final eligibility as per our policy and eligibility criteria at the time of house loan application. 

Documents Required for Home Loan

Having all paperwork ready in advance ensures a smooth and easy home loan application process.
Below are the commonly required documents to apply for a housing loan in India:

Documents pertaining to the property you wish to purchase will also be requested when you apply for a home loan online or offline.

Note: Terms and conditions applicable. Loans are sanctioned at the discretion of SMFG Grihashakti. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines. 

Current Home Loan Interest Rates & Charges

SMFG Grihashakti offers competitive home loan interest rates and transparent fees. Here’s an overview of what you can expect:

No hidden charges. See full MITC here.

Tools to Plan Your Home Loan 

Make your planning for a housing loan in India easier with SMFG Grihashakti’s online tools to assess your EMI, borrowing potential, and prepayments efficiently. These intuitive calculators help you understand your repayment capacity, understand how much financing you may qualify for, and make informed financial decisions before you apply. By using them early in your planning journey, you can align your home ownership goals with your monthly budget and long-term financial stability.

Home Loan EMI Calculator

Calculate your monthly EMI based on house loan amount, interest rate, and tenure. This tool gives you instant results, allowing you to visualise how small changes in tenure, loan amount, or interest rate can impact your monthly payments. It’s a convenient way to compare scenarios and select a loan structure that balances monthly EMI manageability with faster repayment.
[Apply Now with Your Calculated EMI]

Home Loan Eligibility Calculator

Estimate the maximum amount you may qualify for when applying for a home loan in India, based on income, existing obligations, and other factors. This calculator helps you understand your borrowing capacity and prepares you for a smoother approval process by managing expectations and highlighting areas of improvement – such as lowering the debt-to-income ratio.
[Apply Now with Your Calculated Eligibility]

Home Loan Prepayment Calculator

Estimate your savings by opting for a prepayment on your home loan in India. You can determine how much interest you may be able to potentially save and how much sooner you could become debt-free, empowering you to plan partial or full repayments with clarity.
[Apply Now with Your Calculated Prepayment]

Step-by-Step Home Loan Process 

Follow these 5 steps to experience an easy home loan application process at SMFG Grihashakti:

• 

  Step 1:
  Check your eligibility

• 

  Step 2:
  Check the required documents

• 

  Step 3:
  Click on the “Apply Now” button on this page

• 

  Step 4:
  Enter the requested information & upload documents carefully.

• 

  Step 5:
  Our representative will get in touch with you to take the process ahead.

[Start Your Home Loan Journey Today]

Tax Benefits and Government Schemes

When you apply for a housing loan in India, it can help you save on taxes under government schemes and various applicable sections of the Income Tax Act.

Tax Benefits (Under the New Tax Regime):

• Section 80C: Deduction up to INR 1.5 lakh on principal repayment
  
• Section 24(b): Deduction up to INR 2 lakhs on interest paid

In addition, government-backed schemes such as Pradhan Mantri Awas Yojana (PMAY) may also be available for eligible applicants.
Tips: Use EMI, prepayment, and other home loan calculators to plan your finances and maximise tax benefits efficiently.

Types of Home Loans SMFG Grihashakti Offers 

We provide a range of home loan options tailored to meet your specific needs. Each product is designed to offer flexibility, cost-effectiveness, and convenience, ensuring that you find the right financing solution no matter what stage of home ownership you are in.

• Home Loan: Ideal for purchasing new, resale, or under-construction properties, this option helps you move into your dream home without financial strain. You can enjoy competitive interest rates, longer repayment tenures, and easy online applications.
  
• Home Construction Loan: Perfect for those who already own a plot and want to build their home from the ground up. Funds can be disbursed in stages, aligned with your project’s progress, allowing better cost control and timely completion.
  
• Home Extension Loan: If your family is growing or you wish to add extra rooms, balconies, or an additional floor, this loan helps you expand your existing home without disrupting your savings.
  
• Home Renovation Loan: Transform and modernise your current space with upgrades such as new interiors, flooring, or fittings. Flexible financing ensures you can enhance your home without financial stress.
  
• Home Loan Balance Transfer: Switch your existing loan to SMFG Grihashakti to take advantage of lower interest rates, improved customer service, and potentially reduced EMIs.

[Explore the Best Option for You]

Why Choose an SMFG Grihashakti Home Loan?

SMFG Grihashakti offers a host of benefits that make us a trusted partner for your housing finance needs:

• Quick House Loan Processing: Experience faster disbursals with loan processing in as little as 72 hours* (subject to eligibility and document verification).
  
• Flexible Tenure: Repayment periods of up to 30 years* allow you to manage EMIs comfortably.
  
• Competitive Interest Rates: Starting at only 10%* per annum.
  
• Transparent Fees: No hidden fees and charges with a clear MITC to avoid costly surprises later.

[Know Your Home Loan Eligibility Instantly]

Apply for a Home Loan with SMFG Grihashakti Today! 

At SMFG Grihashakti, we aim to make your home loan journey as smooth as possible with an easy application process, minimal documentation requirements, transparent processing, and dedicated customer support at every step. Further, our easy-to-use online tools for EMI, eligibility, and prepayment planning ensure that you can make informed decisions confidently.

When you apply for a home loan with SMFG Grihashakti, you benefit from a lending institution that understands your aspirations and financial priorities. From initial assessment to final disbursal, you can avail of expert guidance through each stage, ensuring clarity, speed, and convenience. Whether you are buying your first home, building a new one, or considering transferring your existing loan, we provide tailored solutions to suit your specific requirements. With competitive interest rates, flexible repayment tenures, and dedicated customer service, your dream of home ownership is closer than ever. Check your eligibility instantly and start your online application today!