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SMHFC stand for Svatantra Micro Housing Finance Corporation. Svatantra Micro Housing Financeoffers housing loans to the financially excluded rural and urban low-income families. With the help of Svatantra Micro Housing loans lower-income families, specially limited income, can purchase home that fit their budget.
Table of Contents
Svatantra Micro Housing Finance Loan
Svatantra Micro Housing Finance Provide Fund for:-
- Self Construction
- Loan Against Property in rural area
- Loan Against Property
- Home Renovation
- Home purchase loan for low income families
- Home Loan
- Home Extension
- Commercial/Non Residential Property Loans for LIG/EWS
- Commercial Property Loan
SMHFC Self-Construction Loan – Simple Guide
With SMHFC’s Self-Construction Loan, you can build your dream house on your own plot of land, just the way you want. We make sure you don’t have to compromise due to lack of funds.
Loan amount: up to ₹25 lakh
Loan tenure: up to 20 years
Flexible and customized solutions as per your needs and documents available
Eligibility depends on income, repayment capacity, past credit record, and verification
| Particulars | Details |
|---|---|
| Loan Amount | Minimum ₹1 lakh & Maximum ₹25 lakh |
| Tenure | Up to 20 years |
| Interest Rate | 11% – 16.5% (PLR: 14.75%) |
| Processing Fee | 2% – 3% (+ GST) of loan amount |
| Prepayment Charges | NIL |
| Loan to Value (LTV) | Maximum 85% |
| Security | Equitable mortgage (title deeds deposit) on the financed property. Registered mortgage may be required. |
| Repayment | Monthly EMIs through electronic standing instructions (NACH) |
| MITC | As per guidelines of National Housing Bank |
| Other Conditions | Mortgage redemption policy option via SMHFC tie-up with HDFC Life (amount depends on age, loan, tenure) |
| Delay Payment Charges | Up to 24% p.a. on the overdue amount |
How SMHFC Decides Loan Eligibility
Loan approval is decided case by case, based on:
Income and its stability
Repayment capacity
Past repayment/credit history
Loan tenure
Occupation type and financial commitments
Property type, value, and location
Field inspection and borrower inputs
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Loan Against Property (Residential) – Simple Guide
With SMHFC’s Loan Against Property (LAP-Residential), you can use your home as security to get funds for personal or business needs.
Whether it’s for children’s education, wedding, medical needs, or business expansion, you can get a loan of up to ₹25 lakh with a maximum repayment period of 15 years.
| Particulars | Details |
|---|---|
| Loan Amount | Up to ₹25 lakh |
| Tenure | Up to 15 years |
| Interest Rate | 14.5% – 19% (PLR: 14.75%) |
| Processing Fee | 2% – 3% (+ GST) of loan amount |
| Prepayment Charges | NIL |
| Loan to Value (LTV) | Up to 60% |
| Security | Equitable mortgage (deposit of title deeds) on the property. A registered mortgage may be required if necessary. |
| Repayment | Monthly EMIs through electronic standing instructions (NACH) |
| Other Conditions | Mortgage redemption policy option available through SMHFC’s tie-up with HDFC Life (amount depends on age, loan amount & tenure) |
| Delay Payment Charges | Up to 24% p.a. on the overdue amount |
SMHFC Loan Against Property Eligibility & Documentation
At SMHFC, we know that every customer’s situation is different. That’s why we offer tailor-made solutions based on your income, financial background, and available documents.
Your eligibility will be decided based on factors like:
Stability of income
Repayment capacity
Past repayment/credit history
Loan tenure and property value
Other financial commitments
Field verification and borrower profile
Home Renovation Loan – Simple Guide
Turn your existing house into your dream home with SMHFC’s Home Renovation Loan.
This loan can be used to improve the look and functionality of your home—both inside and outside.
You can use it for:
Painting & whitewashing
Flooring & tiling
Waterproofing
Plumbing & sanitary work
Other renovation needs
Get up to ₹5 lakh with a maximum tenure of 10 years.
| Particulars | Details |
|---|---|
| Loan Amount | Minimum ₹1 lakh & Maximum ₹5 lakh |
| Tenure | Up to 10 years |
| Interest Rate | 11% – 16.5% (PLR: 14.75%) |
| Processing Fee | 2% – 3% (+ GST) of loan amount |
| Prepayment Charges | NIL |
| Loan to Value (LTV) | Up to 80% |
| Security | Equitable mortgage (deposit of title deeds) on the property. A registered mortgage may be required if necessary. |
| Repayment | Monthly EMIs through electronic standing instructions (NACH) |
| MITC | As per National Housing Bank guidelines |
| Other Conditions | Mortgage redemption policy option available via SMHFC’s tie-up with HDFC Life (amount depends on age, loan & tenure) |
| Delay Payment Charges | Up to 24% p.a. on overdue amount |
SMHFC Home Renovation Loan Eligibility & Documentation
At SMHFC, we provide customized solutions for every customer depending on income, documents, and financial background.
Eligibility is decided based on:
Stability of income
Repayment capacity
Past credit history
Verification and borrower profile
Svatantra Micro Housing Finance priority is to constantly develop and improve our products suiting the EWS/LIG working sector, wherein they can access finances from the convenience of their home in a unique branchless model & credit underwriting process. Currently we operate in Maharashtra, Madhya Pradesh, Chhattisgarh, Gujarat, Rajasthan, West Bengal, Tamil Nadu, Odisha, Andhra Pradesh, Telangana and Karnataka.
Explore more Saathi Svatantra Microfin for Business Loan.
SMHFC EMI Calculator
Use our simple-to-use EMI calculator to determine the Home Loan EMI amount.
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Conclusion
Svatantra Micro Housing Finance Corporation (SMHFC) is dedicated to making homeownership and financial access for low and middle income families. With tailored loan products a branchless model and customer friendly processes. SMHFC empowers individuals to build, renovate, or purchase homes within their budget, bringing financial inclusion and stability to thousands across India.
