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  For what purposes can one avail a loan from RHFL?
Construction of a residential house in the plot owned by the applicant
For purchase of a ready-built residential house/flat.
For repairs & renovation of the existing house
For take over of existing house loan from other HFC’s & Banks
For Purchase of Plot and for further construction
For purchase/construction of Commercial building

What are the Documents required by RHF to sanction a loan?

As per RH 3 checklist

Who can be co-applicants?
Normally, the spouse will be the co-applicant and in exceptional cases the other members of the family can also be the co-applicants.

How is the eligibility determined?
The eligible loan amount shall be determined based on the income of the applicant/co-applicant and his/her repaying capacity and the value of the property, which is going to be acquired out of the loan.

What is the repayment period?
The repayment period will range from a minimum of 5 years to a maximum of 20 years depending upon the age of the applicant.

How will the loan be disbursed?
The loan will be disbursed based in stages depending on the progress of work, in case of construction of a house/flat and in the case of outright purchase of an existing house/flat, the payment will be made as one time payment.

What will be the implication for prepayment/pre closure?
A nominal fee will be charged for Prepayment / Pre-closure

Does the property have to be insured?
The property insurance is provided to Home Loan borrowers as a FREE Product.

What is the maximum loan amount that can be availed from RHFL?
The maximum loan that can be availed is Rs.50.00 lacs per individual.

What is the time limit for availing the sanctioned loan?
The Loan sanction order is valid for 60 days from the date of sanction.

How does one approach RHFL for a Home Loan?
Individual, Groups of Individuals who have a definite and regular source of income can approach directly RHFL (Corporate Office or any branch Office / Centre) for a Home loan.

What if the EMI cheque bounces?
In case of cheque return due to ‘insufficient funds’ or any other reason, a cheque return charges of Rs.100/- will be charged to discourage recurrence and in addition to charges debited by the Bankers on account of the return.

Can a loan be converted from fixed rate loan to variable rate loan & vice versa?
Yes, the loan can be switched over from Fixed Rate to floating rate. However, the vice versa is not applicable.

Are these policies subject to change?
Yes, the policies are subject to change from time to time with prior intimation.
CIN- L65922TN2000PLC044655,
"Registered Office" : Repco Tower, No. 33, North Usman Road, T. Nagar, Chennai - 600 017,
"Corporate Office" , Third Floor, Alexander Square, New No : 2, Sardar Patel Road, Guindy, Chennai - 600 032,
Ph : (044) - 42106650 Fax : (044) - 42106651 Mobile : 9444394918 E-mail : co@repcohome.com
All New Loan Enquiries E-Mail: sales@repcohome.com
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