Repco Home Finance: Affordable Loans, Quick Approval

Select your profession

Salaried

Business

Doctor

NRI

School

College

Student

Enter Pincode

Personal Details

Key Features of Repco Home Finance

Home Loans for Salaried and Business Owners:
- Salaried: Competitive interest rates and flexible repayment tenures (up to 20 years) make homeownership affordable. Simplified documentation and quick loan approvals are available for those with proof of stable income.
- Business Owners: RHFL recognizes the unique financial profiles of entrepreneurs. Loans are available with relaxed eligibility criteria, factoring in business income and cash flows.
- Loan Usage: These loans are designed for the purchase, construction, or renovation of residential properties, providing tailored support for varied homeownership goals.
Loan Against Property (LAP):
- Salaried: Unlock property value for needs like education, medical expenses, or debt consolidation while maintaining ownership and leveraging lower interest rates.
- Business Owners: LAP can be used for business expansion, working capital, or investments. Self-employed individuals can benefit from easy access to large funds based on the market value of their property.

- Competitive Interest Rates: RHFL’s interest rates are aligned with market trends, starting at approximately 8.5% per annum (subject to change based on RBI guidelines and borrower profile). Floating and fixed-rate options cater to diverse risk appetites, enabling borrowers to plan their finances effectively.
- Flexible Repayment Options: RHFL offers customizable EMI plans, including step-up or step-down EMIs, which are particularly beneficial for young salaried professionals expecting income growth or business owners with fluctuating cash flows.
- Wide Reach for Tier-2 and Tier-3 Cities: With a strong presence in semi-urban and rural areas, RHFL supports underserved markets, making homeownership accessible to salaried employees and small business owners in regions with limited access to mainstream banking.
- Transparent Processes: RHFL emphasizes clear communication, minimal hidden charges, and a customer-centric approach, ensuring borrowers understand their commitments.
- Mutual Funds and Wealth Creation:
  - Equity Mutual Funds: Ideal for salaried individuals with long-term goals like retirement or education planning.
  - Debt Mutual Funds: Suited for business owners seeking stable returns and liquidity during cash flow fluctuations.
  - Systematic Investment Plans (SIPs): RHFL borrowers can start SIPs from ₹500/month to grow savings alongside EMI payments.
  - Example: A ₹5,000 monthly SIP at 12% return over 15 years can grow to ~₹25 lakhs, complementing the asset value of a home.
- Using Loan Against Property (LAP) for Investments: Business owners can leverage RHFL’s LAP to invest in mutual funds or business expansion. This strategy diversifies income streams and reduces reliance on core business revenue.
- Tax Benefits and Investments: Salaried borrowers can claim tax deductions under Section 80C (up to ₹1.5 lakh) and Section 24(b) (interest up to ₹2 lakh). These tax savings can be redirected into mutual funds. Business owners can claim interest deductions on commercial property loans to free up capital for strategic investments.
- Insurance for Financial Protection:
  - Home Loan Protection: RHFL recommends loan insurance to secure the family in case of borrower demise. Example: A ₹50 lakh home loan can be backed by a term plan for as low as ₹10,000–₹15,000 annually.
  - Property Insurance: Covers the financed property from risks like fire, natural calamities, or theft.
  - Life and Health Insurance: Salaried individuals benefit from term and health plans, while business owners should consider critical illness and business interruption insurance.
  - ULIPs: For borrowers seeking dual insurance and investment benefits, ULIPs offer market-linked growth. However, mutual funds with term plans are more cost-effective for long-term goals.

Benefits of REPCO Bank Home Loans

Affordable Home Loans for Salaried and Business Owners: RHFL offers competitive home loan products tailored to the unique needs of salaried employees and self-employed business owners, making homeownership accessible and affordable.
- Salaried Individuals: Low interest rates starting around 8.5% ensure manageable EMIs, freeing funds for savings and investments like mutual funds. Flexible tenures up to 20 years reduce monthly financial burden.
- Business Owners: Customized loan structuring helps align EMI with cash flow cycles. Business income reinvestment is possible due to affordable EMI options.
- Example: A salaried individual earning ₹50,000 monthly can afford a ₹30 lakh RHFL home loan with an EMI of ~₹28,000 (at 8.5% for 15 years), leaving ₹10,000–₹15,000 for SIPs or insurance , fostering long-term wealth creation.

Customized Eligibility: RHFL recognizes the variable income patterns of entrepreneurs, assessing business cash flows and assets to offer loans that align with their financial realities.
Higher Loan Amounts: Business owners with strong revenue streams can access larger loans for premium properties or commercial spaces, supporting both personal and professional growth.
Loan Against Property (LAP): RHFL’s LAP allows entrepreneurs to leverage existing properties for funds, which can be used for business expansion, debt consolidation income sources.
Example: A small business owner with a ₹50 lakh property can avail an LAP of ₹25 lakh to fund inventory or invest in a balanced mutual fund, generating returns to offset loan interest.
Financial Planning Tie-In: The affordability of RHFL’s home loans frees up disposable income for salaried individuals to invest in equity or debt mutual funds, building a retirement corpus.
Benefit: RHFL home loans offer significant tax deductions, boosting disposable income for salaried and business borrowers to channel into investments and insurance .
Salaried Individuals:Under Section 80C, principal repayments up to ₹1.5 lakh per year are tax-deductible, reducing taxable income.
Salaried Individuals:Under Section 24(b), interest payments up to ₹2 lakh annually (for self-occupied properties) are exempt, providing substantial savings.

How to Apply for REPCO Home Loan

Step 1: Understand RHFL’s Loan Products
- Home Loans: For purchasing, constructing, or renovating residential properties. Ideal for both salaried individuals and business owners.
- Loan Against Property (LAP): Secured loans against residential or commercial properties, useful for personal or business needs.
- Top-Up Loans: Additional funding for existing RHFL borrowers.
- Overdraft Facility (OD): Linked to LAP, offering flexibility to withdraw funds as needed.
Step 2: Check Eligibility Criteria
- Salaried: Age 21–60 years, ₹20,000+ monthly income, 2+ years stable employment, credit score 650+.
- Business Owners: Age 21–65 years, 3+ years of operations, ITRs showing stable profits, credit score 650+.
Step 3: Gather Required Documents
- Common Documents: Aadhaar, PAN, utility bill, sale agreement, title deed, property tax, and passport photos.
- Salaried: Last 3–6 months' payslips, Form 16, bank statements, and employment proof.
- Business Owners: ITRs (2–3 years), P&L and balance sheet, GST/business registration, 6–12 months' bank statements.
Step 4: Choose Application Method
- In-Person: Visit RHFL branches across South India and selected states.
- Assisted: Consult a loan officer to structure EMI or LAP/OD options.
Step 5: Loan Processing and Verification
- Verification: RHFL checks identity, income, credit history, and property documents.
- Assessment: Credit score, repayment history, property value, and LTV ratio determine sanction amount.
- Timeline: Sanction usually takes 7–15 days if documentation is complete.
Step 6: Loan Agreement and Disbursement
- Fees: Processing charges (0.5–1%), stamp duty.

Eligibility Criteria for REPCO Bank Home Loans

For Salaried Individuals:
- Age: 21–60 years (or retirement age, whichever is earlier)
- Income: Minimum monthly income ~₹20,000 (varies by city)
- Employment Stability: Minimum 2–3 years, with 1 year in current job
- Credit Score: 650+ preferred; 700+ for better rates
- Loan-to-Value (LTV): Up to 80–90% of property value
- Nationality: Indian residents (NRIs may qualify under certain conditions)
For Business Owners / Self-Employed:
- Age: 21–65 years at loan maturity
- Income: Minimum annual profit ~₹3–5 lakh, assessed via ITRs
- Business Stability: Minimum 3–5 years of business operation
- Credit Score: 650+ preferred, with consistent repayment history
- LTV Ratio: Up to 80–85%, based on property type
- Nationality: Indian residents; NRIs with Indian business presence may be eligible
PMAY Scheme (If Applicable):
- Income Groups:
  - EWS: Up to ₹3 lakh/year
  - LIG: ₹3–6 lakh/year
  - MIG: ₹6–18 lakh/year
- Property Size:
  - EWS/LIG: Up to 60 sq.m. carpet area
  - MIG: Up to 160–200 sq.m.
- Others: Preference for women co-applicants, first-time homeowners
Additional Considerations:
- Debt-to-Income Ratio: EMIs should be below 40–50% of monthly income
- Tax Benefits: ₹1.5 lakh on principal and ₹2 lakh on interest under IT Act

Documents Required for REPCO Bank Home Loans

Common Documents for All Applicants:
- Identity Proof (any one, attested copy): Aadhaar Card (mandatory), PAN Card (mandatory), Voter ID, Passport, Driving License
- Address Proof (any one, attested copy): Aadhaar Card, Recent Utility Bill (electricity/water/gas), Rental Agreement, Bank Passbook
- Photographs: 2–4 recent passport-sized photos (color, standard size)
- Application Form: Duly filled and signed REPCO Home Loan application form, downloadable from www.recpohfl.com

For Salaried Individuals:
- Last 3–6 months’ salary slips
- 6 months’ bank statements showing salary credits
- Form 16 for the last 1–2 years
- ITR if applicable
- Employment Proof (appointment letter, employee ID card, service certificate)
For Business Owners:
- Business Registration Proof (GST Certificate, Shop Act License, etc.)
- CA-certified P&L and Balance Sheet (last 2 years)
- Last 2–3 years' ITRs
- 6–12 months of business bank statements
- Business profile and continuity documents (MOA/AOA, Partnership Deed)

Property Documents:
- Sale Agreement signed with builder/seller
- Title Deed (parent documents covering 13–30 years)
- Encumbrance Certificate (EC)
- Approved Building Plan from local authority (CMDA, DTCP, etc.)
- Latest Property Tax Receipts
- Possession/Completion Certificate (for constructed properties)
- Valuation Report (arranged by REPCO if required)
Additional Documents (If Applicable):
- Loan Account Statement (if transferring existing loan)
- Co-applicant’s KYC and income proof
- NRI Applicants: Passport, Visa, NRE/NRO account statement, Power of Attorney
Submission Options:
- Online: Upload documents via the official REPCO website or mobile app
- Offline: Visit and submit documents at the nearest REPCO Bank branch
- Hybrid: Begin online and complete offline as needed

Factors Influencing RHFL Home Loans

Salaried Individuals - Minimum Income: ~₹20,000/month (varies: ~₹25,000 in metros like Chennai, ~₹15,000–₹18,000 in Tier-3 cities like Salem).
Salaried Individuals - Debt-to-Income Ratio: EMIs should be 40–50% of gross monthly income (e.g., ₹20,000 EMI on ₹50,000 salary).
Salaried Individuals - Employment Stability: 2–3 years of continuous employment, with 1–2 years at the current employer (permanent roles preferred).
Salaried Individuals - Additional Income: Bonuses, rentals, or spouse’s salary (as co-applicant) boost eligibility.
Example (Salaried): A teacher earning ₹50,000/month with ₹10,000 rental income qualifies for a ₹35 lakh loan (EMI ~₹33,000 at 8.5% for 15 years), with funds left for SIP and insurance.
Edge Case (Salaried): A contractual worker earning ₹30,000/month with 1-year tenure qualifies for ₹15 lakh with a salaried co-applicant.
Financial Planning Tie-In (Salaried): Stable income supports EMI discipline and tax savings (~₹90,000/year), funding mutual funds and insurance.
Business Owners - Minimum Income: ~₹3–5 lakh/year post-tax profit, verified via ITRs for 2–3 years.
Business Owners - Cash Flow: Monthly profits should cover EMIs (e.g., ₹50,000 EMI requires ~₹1–1.5 lakh/month profit).
Business Owners - Business Vintage: 3–5 years of operations (5+ for larger loans).
Business Owners - Additional Income: Rentals, personal savings, or dividends enhance eligibility.
Example (Business): A retailer with ₹12 lakh/year profit and 5-year business qualifies for a ₹50 lakh loan (EMI ~₹47,000), with ₹20,000 for SIP and insurance.
Edge Case (Business): A 2-year-old startup owner with ₹4 lakh/year profit qualifies for a ₹12 lakh loan with strong property and co-applicant.
Financial Planning Tie-In (Business): Strong profits ensure repayments, with surplus for investments and insurance.
Creditworthiness - Why It Matters: Strong credit score reflects repayment reliability, leading to lower interest and better terms.
Preferred Credit Score: 650+ (700+ secures best rates ~8.5–9%).
Acceptable Credit Score: 600–650 may qualify with higher interest (~10–11%) or co-applicants.
Low Credit Score: Below 600 rarely approved unless supported by strong income, collateral, or co-applicants.
Other Credit Factors: No defaults, bankruptcies, or excessive loan inquiries. Timely repayments are crucial.

FAQs On Repco Home Loans

What types of loans does Repco Home Finance offer?

RHFL provides a variety of loan products to meet diverse needs:
- Home Loans: For purchasing, constructing, renovating, or extending residential properties.
Ideal for salaried individuals building their first asset or business owners securing a family home.

Who is eligible to apply for an RHFL loan?

RHFL’s eligibility criteria are inclusive, catering to salaried and self-employed applicants:
Salaried Individuals:
- Age: 21–60 years at loan maturity (retirement age).
- Income: Minimum ~₹20,000/month (varies by location).
- Employment: 2–3 years’ stability, 1–2 years with current employer.

What documents are required to apply for an RHFL loan?

RHFL requires a mix of identity, income, and property documents:
Common Documents:
- Identity: Aadhaar, PAN, Voter ID, or Passport.
- Address: Utility bill, Aadhaar, or rental agreement.
- Photos: 2–4 passport-size.
- Property: Sale Agreement, Title Deed, Encumbrance Certificate (EC, 13–30 years)

What is the minimum and maximum loan amount offered by RHFL?

RHFL’s loan amounts depend on income, property value, and repayment capacity:
- Minimum: ~₹5–10 lakh (varies by profile/location)
- Maximum: Up to ₹1 crore or 80–90% of property value (LTV ratio)
Example: A ₹50 lakh flat qualifies for a ₹45 lakh loan (90% LTV), with EMIs (~₹43,000) leaving room for a mutual fund SIP.

What are the interest rates for RHFL loans?

RHFL offers competitive rates, subject to credit score, loan type, and market conditions:
- Home Loans: ~8.5–10.5% (fixed or floating)
Example: A ₹30 lakh loan at 8.5% for 15 years has an EMI of ~₹28,000, saving ~₹2 lakh vs. 10%

- LAP/OD: ~9–11% (higher due to flexibility/risk)
Example: A ₹50 lakh LAP at 9% for 10 years has an EMI of ~₹66,000

How long is the repayment tenure for RHFL loans?

RHFL provides flexible tenures to suit repayment capacity:
- Home Loans: Up to 20 years (shorter for older applicants)
Example: A ₹40 lakh loan at 8.5% for 20 years has an EMI of ~₹34,000

How can I apply for an RHFL loan?

RHFL offers multiple application channels:
- In-Person: Visit an RHFL branch (150+ across South India, Maharashtra, Gujarat, etc.) for personalized guidance.

What are the processing fees and other charges for RHFL loans?

RHFL charges are transparent but vary:
- Processing Fees: ~0.5–1% of loan amount (e.g., ₹15,000–₹30,000 for ₹30 lakh)
- Stamp Duty: State-specific (e.g., ₹10,000–₹20,000)
- Legal/Valuation Fees: ₹5,000–₹15,000
- Prepayment Penalty: Minimal/nil for floating rates; ~1–2% for fixed rates

Can I prepay my RHFL loan? Are there penalties?

Yes, RHFL allows prepayments:
- Floating Rate Loans: No penalty for full/partial prepayments
- Fixed Rate Loans: ~1–2% penalty on prepaid amount (waived for partial payments in some cases)
- Process: Use bonuses (salaried) or profit surges (business) to prepay via branch or online payment

Does RHFL offer loans under government schemes like PMAY?

Yes, RHFL participates in Pradhan Mantri Awas Yojana (PMAY):
- Eligibility:
EWS: ≤₹3 lakh/year
LIG: ₹3–6 lakh/year
MIG: ₹6–18 lakh/year
- Property: 30–60 sq.m. (EWS/LIG), 160–200 sq.m. (MIG)
- First-time homeowners; women co-applicants preferred for EWS/LIG

List of Repco Home Loans

Repco Housing Finance Home Loan
Repco Home Finance
Repco Home Loan Interest Rate
Apply Repco Loan Online
Repco Home Renovation Loan

Repco Home Loan Eligibility
Repco Home Loan Documents Required
Repco Home Loan Benefits
Repco Home Loan EMI Calculator
Repco Home Construction Loan

Repco Home Loan Application Status
Repco Home Loan Balance Transfer
Repco Home Loan Customer Care
Repco Home Loan Prepayment Options
Repco Home Loan Special Offers

Repco Home Loan for Salaried Individuals
Repco Home Loan for Self-Employed
Repco Home Loan Repayment Options
Repco Home Loan Processing Fee

Create Account

Sign In

Welcome Back!

Hello, Friend!

Reset Password

Reset Your Password

Change Password

Update Your Password

Logintoloans Assistant