FAQs

 1. What types of home loans does Vridhi Home Finance offer?

• Vridhi Home Finance specializes in affordable housing loans, including:
  • Home Purchase Loan: For buying new or resale properties.
  • Home Construction Loan: For constructing a home on a plot of land.
  • Home Renovation/Improvement Loan: For upgrading or renovating your home.
  • Plot Purchase + Construction Loan: For purchasing a plot of land + construction to build a home.

2. Is ITR required to apply for a home loan with Vridhi Home Finance?

• No, Vridhi Home Finance offers affordable home loans without the need for Income Tax Returns (ITR). We focus on making homeownership accessible to all by assessing your financial capacity through alternate documentation like bank statements and other proofs of income.

• What documents are required to apply for an affordable home loans ?
  • Identity Proof: Aadhar Card, PAN Card, Voter Id or Driving License
  • Income Proof: Bank statements or salary slips (ITR not required)
  • Property Documents: Sale agreement, title deed, and related property papers
  • Address Proof: Utility bills, rent agreement, etc.

4. What are the eligibility criteria for an affordable home loan?

• Eligibility criteria include:
  • Steady income, proven through alternate documentation if no ITR
  • Age and ability to repay the loan within the tenure
  • Good credit history or alternate evaluation methods

5. How do I apply for a home loan without ITR?

• You can easily apply through our online application form or by visiting a branch. Vridhi Home Finance uses alternate methods to assess your repayment capacity, ensuring that those without formal income documentation can still avail of home loans.

6. What is the interest rate for affordable home loans?

• Our interest rates are competitive and vary based on your profile and loan type. Since we focus on affordable housing, our interest rates are designed to keep monthly EMIs within reach for low and middle-income groups.

7. How can I track my loan application status?

• Once you submit your application, you will receive a unique Application Reference Number. Use this number to track your loan status via our Customer Portal or by contacting customer service.

8. Can I transfer my existing home loan to Vridhi Home Finance?

• Yes, we offer a Balance Transfer Scheme for those who want to transfer their existing home loans from another financial institution to Vridhi Home Finance. This may help you get a better interest rate or longer tenure.

9. Can I prepay my home loan, and are there any charges?

• Yes, you can prepay your loan in part or full. Prepayment charges may apply, depending on your loan agreement. Please contact your loan officer for specific details.

10. What should I do if I miss an EMI payment?

• In case of a missed EMI, it’s important to contact our customer service team to discuss payment options and avoid additional charges. We offer flexible repayment solutions to ensure your loan stays on track.