PRODUCTS AND SERVICES

LOAN SCHEMES OF KERALA HOUSING FINANCE LIMITED

Kerala Housing Finance Limited (KHFL) is the first Housing Finance Company incorporated in Kerala State under the Companies Act, 1956 in 1992. KHFL is registered under and regulated by the National housing bank. The main objective of KHFL is to make available Home Loans at easy terms. The company has made a significant impact in the housing sector through its finance to the middle class. KHFL believes that every loan it extends is a bond of strong and warm relationship with the customer.

The hallmarks of KHFL are-

Loan schemes with simple terms Customer friendly and transparent procedure Quick sanction and disbursement of loans Personalised and warm customer service

Loan schemes of KHFL at a glance

HOME LOAN

Purposes for which the loan is extended.

For construction or purchase of a residential house.

Eligibility Conditions

  1. Individuals who are employed / self employed / engaged in own business.
  2. Resident or Non Resident Indians.
  3. Applicant’s age not to exceed 55 years

Maximum Loan Amount

Rs.25 lakhs, subject to a maximum of 70% of the estimated construction cost / purchase consideration and as per the applicant’s repaying capacity.

Loan Tenure

3-10 years

Repayment

By way of Equated Monthly Installments (EMI)

Interest Rate

15% p.a. (Fixed)

Processing Fee

2% of the loan amount. (0.50% refundable if the loan is not sanctioned.)

Charges for pre-closure of loan

‘Nil’ if the loan is pre-closed using applicant’s own funds and 2% of the outstanding liability if the loan is pre-closed through take-over by another financial instituition

Disbursement

As per the progress of work for construction loan and in one lumpsum on the registration date for purchase loans.

Security for the loan

  1. Equitable Mortgage of the property financed.
  2. Personal Guarantee of the applicant, co-applicant and one outside guarantor.

Important documents required

  1. Salary Certificate for employed applicants and last three years’ Income and Expenditure statements for self employed/business class applicants.
  2. Property documents including original title deeds and other applicable documents relating to construction work as per the list provided by KHFL.

HOME EXTENSION LOAN

Purposes for which the loan is extended.

For extension of the applicant’s existing house.

Eligibility Conditions

  1. Individuals who are employed / self employed / engaged in own business.
  2. Resident or Non Resident Indians.
  3. Applicant’s age not to exceed 55 years

Maximum Loan Amount

Rs.3 lakhs, subject to a maximum of 70% of the estimated cost of extension and as per the applicant’s repaying capacity.

Loan Tenure

3-7 years

Repayment

By way of Equated Monthly Installments (EMI)

Interest Rate

15% p.a. (Fixed)

Processing Fee

2% of the loan amount. (0.50% refundable if the loan is not sanctioned.)

Charges for pre-closure of loan

‘Nil’ if the loan is pre-closed using applicant’s own funds and 2% of the outstanding liability if the loan is pre-closed through take-over by another financial instituition

Disbursement

As pr the progress of work.

Security for the loan

  1. Equitable Mortgage of the property financed.
  2. Personal Guarantee of the applicant, co-applicant and one outside guarantor.

Important documents required

  1. Salary Certificate for employed applicants and last three years’ Income and Expenditure statements for self employed/business class applicants.
  2. Property documents including original title deeds and other applicable documents relating to extension work as per the list provided by KHFL.

HOME RENOVATION LOAN

Purposes for which the loan is extended.

For renovation / repair of the applicant’s existing house.

Eligibility Conditions

  1. Individuals who are employed / self employed / engaged in own business.
  2. Resident or Non Resident Indians.
  3. Applicant’s age not to exceed 55 years

Maximum Loan Amount

Rs.3 lakhs, subject to a maximum of 70% of the estimated cost of repairs / renovation and as per the applicant’s repaying capacity.

Loan Tenure

3-7 years

Repayment

By way of Equated Monthly Installments (EMI)

Interest Rate

15% p.a. (Fixed)

Processing Fee

2% of the loan amount. (0.50% refundable if the loan is not sanctioned.)

Charges for pre-closure of loan

‘Nil’ if the loan is pre-closed using applicant’s own funds and 2% of the outstanding liability if the loan is pre-closed through take-over by another financial instituition

Disbursement

As per the progress of work.

Security for the loan

  1. Equitable Mortgage of the property financed.
  2. Personal Guarantee of the applicant, co-applicant and one outside guarantor.

Important documents required

  1. Salary Certificate for employed applicants and last three years’ Income and Expenditure statements for self employed/business class applicants.
  2. Property documents including original title deeds and other applicable documents relating to renovation / repair work as per the list provided by KHFL.

SITE PURCHASE LOAN

Purposes for which the loan is extended.

For purchase of site for house construction.

Eligibility Conditions

  1. Individuals who are employed / self employed / engaged in own business.
  2. Resident or Non Resident Indians.
  3. Applicant’s age not to exceed 55 years

Maximum Loan Amount

Rs.15 lakhs, subject to a maximum of 60% of the appraised value of the security and as per the applicant’s repaying capacity.

Loan Tenure

3-7 years

Repayment

By way of Equated Monthly Installments (EMI)

Interest Rate

19.5% p.a. (Fixed)

Processing Fee

2% of the loan amount. (0.50% refundable if the loan is not sanctioned.)

Charges for pre-closure of loan

‘Nil’ if the loan is pre-closed using applicant’s own funds and 2% of the outstanding liability if the loan is pre-closed through take-over by another financial instituition

Disbursement

In one lumpsum.

Security for the loan

  1. Equitable Mortgage of property.
  2. Personal Guarantee of the applicant, co-applicant and one outside guarantor.

Important documents required

  1. Salary Certificate for employed applicants and last three years’ Income and Expenditure statements for self employed/business class applicants.
  2. Property documents including original title deeds and other applicable documents as per the list provided by KHFL.

PERSONAL LOAN

Purposes for which the loan is extended.

For meeting business / domestic expenses.

Eligibility Conditions

  1. Individuals who are employed / self employed / engaged in own business.
  2. Resident or Non Resident Indians.
  3. Applicant’s age not to exceed 60 years

Maximum Loan Amount

Rs.10 lakhs, subject to a maximum of 60% of the appraised value of the security and as per the applicant’s repaying capacity.

Loan Tenure

3 years

Repayment

By way of Equated Monthly Installments (EMI)

Interest Rate

19.5% p.a. (Fixed)

Processing Fee

2% of the loan amount. (0.50% refundable if the loan is not sanctioned.)

Charges for pre-closure of loan

‘Nil’ if the loan is pre-closed using applicant’s own funds and 2% of the outstanding liability if the loan is pre-closed through take-over by another financial instituition

Disbursement

In one lumpsum.

Security for the loan

  1. Equitable Mortgage of property.
  2. Personal Guarantee of the applicant, co-applicant and one outside guarantor.

Important documents required

  1. Salary Certificate for employed applicants and last three years’ Income and Expenditure statements for self employed/business class applicants.
  2. Property documents including original title deeds and other applicable documents as per the list provided by KHFL.
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Loan Schemes

Home Loan

Home Extension Loan

Home Renovation Loan

Site Purchase Loan

Personal Loan

Know Your Customer (KYC) Rules

Grievance Redressal

Downloads

Personal Loan Application

Housing Loan

Most Important Terms and Conditions

Fair Practices Code