Frequently Asked Questions

  • Is it required to have property insurance on the property being financed?

    It is mandatory to have property insurance on the property being financed in order to mitigate any risky event that may arise due to any contingencies.

  • What is pre-EMI?

    Pre EMI is the Interest paid on the Loan Amount availed in part and before the start of the actual EMI. This generally occurs in Self Construction or Construction Stage Linked Disbursals. The EMI doesn’t get started till the loan is disbursed in full and hence interest is charged on partially disbursed loan amount only which is Pre EMI.

  • What are the types of rate of interests offered?

    Floating rate of Interest.

  • How do I apply for the loan at NHHFDL?

    Simply call on 0120 4180500 Extension 1611 & 1216

    Or you can send an enquiry on the enquiry tab on the website You may also download the Loan Application

    Form from the website and send the duly filled and signed form through email at info@

    Or Visit our office at C-1, Sector 3, Noida- 201301

  • What kind of Tax Benefit does an individual get while applying for a Home Loan?

    Rebate u/s 80c of the Income tax Act, 1961 for repayment up to Rs. 1,50,000 in a financial year towards principal

    Deduction for payment of interest is available. However, in case of self-occupied property, deduction is limited to Rs. 2,00,000/-, subject to provisions of Income Tax Act.

  • What is a Monthly Reducing Balance?

    An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged

    goes down every month. This results in significant savings for the customer over the tenure of the loan

  • What are the stages involved while taking a loan?

    Submit the duly filled and signed application form along with the necessary KYC documents and any other documents as per NHHFDL policies.

    Based on the information submitted by the applicants and the personal discussion, the loan amount and tenure is sanctioned by taking into consideration the requirement, repayment capability and the value of the property.

    Post Sanction, the Disbursement is done based on the requirements from time to time.

  • What is the security to be provided to avail a loan from NHHFDL?

    The security for the loan is the equitable mortgage of the property being financed by depositing the title deeds or such other collateral as may be required. The applicant’s title to

    the property should be clear, marketable and free from any encumbrances. Other security may be required on case to case basis.

  • Can I prepay/ foreclose my loan?

    Home loans can be repaid ahead of the schedule by making lump sum payments at no additional prepayment charges.

  • What is the maximum or minimum loan amount given by NHHFDL?

    Minimum loan amount for Home Loans is Rs. 1 lac and for Loan Against Property is Rs. 5 Lacs. The Maximum loan amount is subject to the credit appraisal of the applicant.

  • Who can be the co-applicants for the loan?

    Your spouse, blood relatives/ immediate family members can be the co-applicants. Also co-owner has to be necessarily co-applicant in the loan.

  • How is the loan repaid?

    The loan is repaid in the form of Equated Monthly Installments (EMIs) which consists of Principal and interest components.

  • How is my Loan Eligibility decided?

    NHHFDL decides the home loan eligibility based on the repayment capacity of the customers which is calculated based on the applicant’s age, income, number of dependents,

    past savings history, other assets and liabilities, co-applicant’s income etc.

  • What is the maximum loan tenure?

    NHHFDL offers Home loan for the period ranging from 5 years to 25 years.

  • When can you apply for a loan?

    As soon as you decide to purchase a home and have finalized the property, you can apply for a Home Loan at New Habitat Housing Finance and Development Limited

    (NHHFDL). The sanction of loan amount and tenure will be based on your repayment capability and the project cost.

  • What are the various kind of loans extended by NHHFDL?

    – Purchase of home, purchase of flat, self construction of house.

    – Home Extension/Improvement

    – Balance Transfer/ Top up

    – Loan Against Commercial and Residential Property

    – Lease Rental Discounting

    – Loan for Builders/ Developers

    – Composite Loan