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Agri-SME

What is Prime Account? 

Prime account is a variant of savings account which is a middle variant between Priority Saving Account & Priority Plus Saving Account.

 What is the eligibility criteria in terms of minimum age? 

Minimum age of borrower should be of 21 years

What are the mandatory documents required for availing of loan? 

Mandatory documents required are Loan application form, KYC documents, Financial documents, and Banking Documents.

What is the minimum loan limit offered by the bank?

Minimum loan limit offered is Rs. 10 Lakhs

What is the interest rate for your loan facility?

We offer competitive interest rate for our loan facilities. The interest rate for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

What collateral is acceptable for loan facility?

We offer flexible collateral options and can accept Residential/Commercial/Industrial Property and Liquid securities as collateral.

What is minimum business vintage required?

Minimum business vintage is 3 years

What are the benefits of the loan facility offered by the bank?

We address the requirements of all the stakeholders involved in agri value chain – Large Farmers, Wholesalers, Retailers, Traders, Aggregators, Agro & Food Processors, Agri Importers/Exporters, Agri Input Dealers, Agro seed industries, Construction of warehouses, market yards, godowns, and for other agri-allied activities.

What is the instalment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

What are the modes available for repayment of instalments?

  • Repayment can be done through Standing Instructions to your AU Small Finance Bank account,
  • Cash deposit
  • Cheque
  • Automated Clearing House (ACH)

What type of facilities funded by Bank under Agri-SME?

1. Fund Based Facilities:
  • Cash Credit (CC)
  • Overdraft (OD)
  • Dropline Overdraft (DLOD)
  • Term Loan (TL)
  • Working Capital Demand Loan (WCDL)
  • Letter of Credit backed Bill Discounting (LCBD)
 
2. Non-Fund Based facilities:
  • Letter of Credit (LC)
  • Bank Guarantee (BG) 

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Business Banking

What all customer categories are catered in this program segment?

We fund to Individuals, Sole Proprietorship, Limited Liability Partnership (LLP), Partnership firm (Registered and Unregistered), Private Limited Companies (applicant promoters should have minimum of 51% shareholding), Public Limited Company, Trust and Societies

What is the eligibility criteria in terms of minimum age?

Minimum age of borrower should be of 21 years

What are the mandatory documents required for availing of loan?

Mandatory documents required are Loan application form, KYC documents, Financial documents, Banking Documents.

What is the minimum loan limit offered by the bank?

Minimum loan limit offered is Rs.10 Lakhs

What is the interest rate for your loan facility?

We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

What type of collateral security is acceptable for loan facility?

We offer flexible collateral options and can accept Residential/Commercial/Industrial Property and Liquid securities as collateral.

What is minimum business vintage is required?

Minimum business vintage is 3 years in same line of business

What are the benefits of the loan facility offered by the bank?

We cater to all segments of the business-like Wholesalers, Retailers, Traders, Manufacturers, Service Providers, Contractors, Stockists, Distributors, Educational Institutes, Healthcare Institutes, hospitality, and others.

What is the instalment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

What are the modes available for repayment of instalments?

  • Repayment can be done through Standing Instructions to your AU Small Finance Bank account
  • Cash deposit
  • Cheque
  • Automated Clearing House (ACH)

What type of facilities funded by Bank under Business Banking?

1. Fund Based Facilities:
  • Cash Credit (CC)
  • Overdraft (OD)
  • Dropline Overdraft (DLOD)
  • Term Loan (TL)
  • Working Capital Demand Loan (WCDL)
  • Letter of Credit backed Bill Discounting (LCBD)
 
2. Non-Fund Based facilities:
  • Letter of Credit (LC)
  • Bank Guarantee (BG)

What all products are offered under Trade services in AU Bank?

We offer products pertaining to Trade and Forex to include Exports, Imports, Inward Remittances, Outward Remittances, LRS, Bank Guarantee, Letter of credit, etc. International Trade transactions are processed through our partner banks.

What are the documents required for processing 100% FD backed bank guarantee?

Request letter, accepted draft, TD details, any other document as per requirement

Does the Bank provides Trade services to Exporters and Importers?

All exports and imports transactions, whether under collection or LC are processed at AU Small Finance Bank through our partner banks.

Whether Non-Resident Indian (NRI) can open account with the Bank?

Yes, non-resident Indian (NRI) can open account with AU Small Finance Bank.

What are the charges for issuance of LC and LCBD transactions?

Please visit schedule of charges section to know complete details.

Do your Bank handle foreign bank guarantees and import letter of credit?

Yes, Bank issues foreign bank guarantees and import letter of credit through our tie ups with partner banks.

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Construction Finance

What is the minimum loan amount threshold for real estate funding?

There is no minimum threshold, the loan amount is evaluated on basis of balance construction, cost of the Project and financial gap arising due to mismatches in project inflows and outflows

What would be the collateral required?

Mortgage on Project Land and hypothecation of project receivables are mandatory collateral requirement.

In how many years do I have to repay the loan amount?

Loan tenure is decided basis the balance completion period of the project and it varies from case to case basis.

What are the benefits of availing loan from your Bank?

We caters to Small, Medium, and Large Developers for all types of projects comprising of duplexes, high rise apartments, villas, townships, affordable housing projects and commercial projects.

What is the instalment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

What are the modes available for repayment of instalments?

Repayment can be done through Standing Instructions to your AU Small Finance Bank account, Cash Deposit, Cheque, or Automated Clearing House (ACH).

What are list of documents required for availing loan facility?

Know your customer (KYC) documents, Past project experience, Existing loan details and income documents, Project specific details, Project approval documents and Project legal documents are mandatory documents.

What is the interest rate for your loan facility?

We offer competitive interest rates based on loan amount and tenure of the facility.

Does AU Bank fund for pending approval cost of the Project?

Yes, such payments are processed by direct debiting the Borrower’s account.

What will be the treatment of collections from sale proceeds of the Project?

All collections from sale proceeds of the project will be credited to a separate Bank account of the Project to be opened and maintained with AU Small Finance Bank and a proportionate amount from such collections will be appropriated towards principal repayment of the facility, subject to compliance of RERA guidelines.

What all other services are offered by Bank?

We also offer customised service of Sales Collections Management through dedicated RERA; RERA Collections and Escrow Accounts of the Project which also comprises of offering online internet banking platform of such accounts.

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Wheels

What all customer categories are catered in this product segment?

Our customer segments for providing loans on wheels include:
• Individual
• Non-individual (Private Limited, Public Limited, Partnership Firm, Proprietorship Firm, Co-operative societies, Trust and Hindu Undivided Family)

What is the eligibility criteria in terms of minimum age?

The age criteria are as under:
• Personal Vehicle: 18 years and above
• Commercial Vehicle: 21 years and above
• Heavy Commercial Vehicle: 24 years and above

Which documents will be received by the applicant at the time of closure of the loan?

The documents will include No-objection Certificate (NOC) addressed to the RTO & insurance endorsement cancellation letter addressed to your vehicle insurance company.

Is there any privilege available for existing customers?

Existing customers and their referrals are provided preferential treatment in documentation requirement, rate, fees and loan amount.

Is a co-applicant and guarantor necessary for me to take this loan?

Presence of co-applicant and/or guarantor often lends support to the customer's application. This can facilitate faster approval. However, the requirement is dependent on the customer's income profile which is required to meet our credit criteria.

Are vehicle accessories funded by the Bank?

We fund standard fitment supplied by manufacturer for different variants. Additional accessories are not funded.

How do we classify Personal Vehicle customers?

We classify Personal vehicle customers in two categories:
1. Income Base Customer Profiles
2. Non Income Base Customer Profiles

How do we classify Commercial Vehicle customers?

We classify Commercial vehicle customers in four categories:
1. First Time user (FTU)
2. First Time Buyer (FTB)
3. Transporter
4. Captive User

What is the documentation requirement for availing the loan?

List of documents required for loan are:
1. KYC Documents (As per KYC Policy of Au Small Finance Bank)
2. Income Proof and other documents for calculating loan eligibility
3. Repayment Instrument

Is Driving License mandatory to avail a vehicle loan?

Driving license is not a mandatory document for availing loans on vehicles. It is required for those customers who are driver-cum-owners. This is to establish their experience in running a commercial vehicle, construction equipment or tractor.

Do I need to own a house to avail a vehicle loan from the Bank?

House ownership in the family and/or stability of residence in the city where the loan application is made are important parameters in the assessment of a loan application. Ownership could be in the name of an immediate family member.

 I don’t have any income documents, can I get a loan?

We can provide a loan if you do not have any income documents.
We assess the income or capability of running a vehicle, based on their fleet ownership or experience in running a vehicle. Decision to fund a commercial vehicle is made based on the same.
We also specialize in assessing the business income of a customer through visit to their business premises and personal discussion. A vehicle loan can be given if we are satisfied with the repayment capacity of the customer.

What kind of vehicle loans are offered by the Bank?

We provide Commercial Vehicle Loan, Auto Loan (Personal Car / Taxi), Two Wheeler Loan, Three Wheeler Loan, Tractor Loan & Construction Equipment Loan (for Backhoe Loaders and Pick & Carry Cranes).

Can I avail finance on all makes of vehicles?

We select vehicle models based on the technology, after sales support services and secondary market values of the vehicles. Please contact the nearest branch of AU Small Finance Bank or our customer support executive @ 18001200 1200 to know about the vehicle models that are funded by us.

Do I need to provide a collateral security to avail the loan?

Normally, vehicle financed by AU Small Finance Bank or lien marking on free vehicles/equipment is acceptable collateral security. Additional, collateral security may be required based on your requirement of loan amount or the vehicle to be financed.

What is the minimum and maximum wheels loan amount sanctioned by the Bank?

The minimum loan amount is Rs 20K and maximum loan amount upto 100% of Ex-Showroom Price net of discounts (insurance and registration amount not considered as part of cost) based on product and customer profile.

How is loan amount calculated - on Ex-showroom price or On-road Price?

The ex-showroom price net of all discounts will be considered to determine the eligible loan amount.

What is Guarantor?

A Guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation. Guarantor often has experience of the same trade and helps a customer to ply his vehicle.

How much time does the Bank require to sanction the loan?

Loans are normally sanctioned within 48 hours (excluding holidays) after submission of all the required documents. Same depends on how customer support in assessment of loan eligibility.

How is interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

What is the down payment requirement?

Down payment is important part of the investment you make in the vehicle/equipment/tractor and your ability to service the installments. We balance the loan amount required and down payment based on your income sources and our credit assessment.

Can I cancel the loan before and after disbursement?

No cancellation fee is charged by the Bank before disbursement of the loan amount. However, Bank will charge on case to case basis in case of cancellation after the disbursement of loan.

What are the modes available for repayment of installments?

Repayment can be done through Standing Instructions to your AU small Finance Bank account, cash deposit, cheque or Automated Clearing House (ACH).

What is the tenure of the loan?

We provide vehicle loans for a minimum loan period of 6 months to a maximum period of 5 years.

Can I avail of a loan on my existing vehicle?

Yes, we do provide loan on your existing free vehicle. The vehicle should be hypothecated to AU Small Finance Bank after the loan sanction process and prior to disbursement.

What is the Loan to Value (LTV %) offered by the Bank?

The Loan to Value amount is based on vehicle bought and the profile of the customer. Same is calculated on Ex-showroom price of vehicle for new vehicles and Market value (based on Bank’s Grid value, Valuation & Insured Declared Value) in case of Refinance/Used vehicles.

What is the installment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

Can I make prepayment or foreclosure before the maturity date and is there any charge or fee levied against it?

Part pre-payment is not allowed and foreclosure can be done by paying Principal Outstanding, Overdue EMIs, Penalties and charges. In addition Bank will charge some amount which can be 5% of Principal outstanding, if foreclosed within 12 months and 3% of Principal outstanding, if foreclosed after 12 months from the date of disbursement of the loan.

Can I deposit my instalment amount at any branch?

Yes. Installments can be deposited at any branch of AU Small Finance Bank.
 

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NBFC

Who can apply for the loan and for what purpose?

Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs) and NBFC-MFI (NBFC-Microfinance Institutions) can apply for this loan only for onward lending purpose

What would be the minimum loan amount?

The evaluation of loan value is done based on of due diligence, portfolio size, its growth, capital adequacy ratio, portfolio quality etc.

What type of collateral security is allowed?

Hypothecation of receivables, security deposits and/or mortgage of property

What are the tenure options?

Loan tenure depends on the tenure offered for onwards lending and category of NBFC/HFC

Who can avail MFI Loans?

The MFI Loans are provided to NBFC -MFIs or direct lending institutions who do onward lending to women borrowers under JLG (Joint Liability Groups) or SHG (Self Help Groups)

What is minimum and maximum loan amount?

Loan amount depends on eligibility, income, and repayment capacity

How do I repay loans?

You could repay loans through equated principal instalments for term loans. Besides, for other NBFC loans, repayment can be done as per relevant defined norms.

What are benefits for availing loan from AU Bank?

We cater all the banking needs related to Current Account, Escrow Account, Salary Accounts, Bulk FDs, Life Insurance Services, NACH/ ACH facilities, FD/OD facility, Bank Guarantee, CMS facilities under one umbrella and synchronization.

What are list of documents required for availing loan facility?

 Know your customer (KYC) documents, Company presentation, portfolio cuts, product details, Fund flow/ALM details, Director and Management details, Existing loan details and last financial statements

What is the interest rate for your loan facility?

We offer competitive interest rate based on assessment, portfolio size, product offering, funding mix and assets quality, etc.

What is the instalment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures
 

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Secured Business Loan

How will you determine my loan eligibility for Secured Business Loans?

Customer’s repayment capacity and property valuation as determined by the Bank, helps us decide how much we can lend to the customer. While evaluating repayment capacity, we take into consideration factors like income, financials, age, qualifications, number of dependents, assets, liabilities, savings history & stability, past track record and continuity of occupation.

In how many years can I repay the loan amount?

The typical tenure of these loan ranges from 1 to 15 years. However, it can vary depending on the product variant.

Who can be my co- applicant?

In case of Non-Individual entity, proprietor/partners need to be co-applicant and if you are an individual, your spouse, your parents or even your major children can be your co-applicants. The co-owner of a property must be a co-applicant, but a co-applicant need not be the co-owner of the property.  

What are the eligibility criteria in terms of minimum age?

Minimum age of borrower and guarantor should be 18 years.

What is the purpose for which I can avail Secured Business Loan?

  • To meet the working capital and capital expenditure requirements
  • General Business Purpose
  • Expansion of business or purchase of asset

What will be the mode of repayment?

Repayment can be done through Standing Instructions to your AU small Finance Bank account. Apart from this, following mode can be opted:
  • NACH
  • All electronic banking remittances mode
  • PDC

What is the frequency of repayment of loan?

Frequency for the repayment of loan will be monthly. Equated Monthly Instalment (EMI) will be deducted from the account every month.

How is interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

How is Equated Monthly Instalment (EMI) is calculated?

EMI is calculated by considering the loan amount, tenure of the loan and rate of interest. EMI may be subject to change, when interest rate change or part payment of loan is made.

Can my loan be rescheduled?

Loan facility can be rescheduled as per re-schedulment/restructuring policy of the Bank.

What is the Loan to Value (LTV %) offered by the Bank?

The Loan to Value amount is based on type of property provided as collateral, profile of the customer and other checks.

Can my loan be foreclosed?

Yes, loan can be foreclosed after paying the foreclosure charges as per the bank policy.

When is my EMI due?

EMI will be due on a fixed date of every month. You will be notified of this date when your loan amount is disbursed.

What is the Guarantor?

A Guarantor is a person who guarantees to pay for someone else's debt if he or she default on a loan obligation.

Can I cancel the loan before and after the loan disbursement?

Loan can not be cancelled after the disbursement. It can only be cancelled before disbursement.

What is the installment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

What are the documents required for availing the loan?

  • Loan Application Form
  • Know Your Customer (KYC) Documents
  • Income Documents
  • Bank Statement
  • Property Documents
  • Any other documents as required

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Gold Loan

What is a Gold Loan?

Gold Loans are secured loans that you can borrow by pledging your gold ornaments (falling within the range of 18 to 24 carats) as collateral. The loan amount is based on the quality of the gold ornament and is typically up to 75% of the gold value. You can use the borrowed amount for various purposes, including meeting business or personal requirements. Gold Loans are primarily taken for meeting short-term funding requirements, and the loan tenure ranges between 6 to 36 months. Compared to other categories of loans, Gold Loans are known for competitive and attractive interest rates.

How does a Gold Loan work?

Gold Loans are asset-backed loans, where you essentially pledge your gold ornaments as collateral for the loan amount. The Gold Loan procedure includes determining the weight and performing purity checks by the lender to assess the market value of the gold ornament. Once the value of gold is determined, the documents are verified to finalize the Gold Loan's terms and conditions that include determining the Gold Loan interest rate. As an asset-backed loan, the gold ornaments remain within the secure custody of the lender until the loan is repaid fully.

Is getting a Gold Loan a good idea?

Yes, it is. A Gold Loan offers flexibility in repayments as well as competitive interest rates. They are easier to obtain than personal loans, have quick processing time, and require minimal paperwork.

 How do I get a Gold Loan from AU Bank?

You can simply visit the nearest AU Bank branch with your gold jewellery and basis documents to get the best value and interest rates on your gold loan, which will be disbursed to you over the counter against your gold jewellery in no time subject to the verification of gold and other documents that you submit. Approvals are at sole discretion of the Bank.

What is the interest rate on Gold Loan?

We offer Gold Loans at attractive and competitive interest rates. The Gold Loan interest rate is based on the prevailing market situation and repayment scheme selection made by the borrower depending on the credit profile. For example, a non-income-proof provider or person with a lack of steady income will be charged a higher interest rate than a person with a stable income generation source.
 
Also, you will be charged a simple interest rate on the Gold Loan amount, which is fixed during the loan tenure and is calculated on a reducing balance basis.

How much loan can I get on gold?

Gold Loans have a higher loan-to-value ratio of up to 75% compared to any other mortgage-based loans, which means you can get up to 75% of the gold’s value as a loan. We provide Gold Loans starting from INR 10,000.
However, many other factors affect the amount of the Gold Loan, including borrower’s profile, steady source of income, repayment schedule and tenure selected, the global movement in gold prices, valuation method used by banks, and prevailing interest rate in the market.

How do I repay a Gold Loan?

The Gold Loan repayments are flexible, and you can choose from the repayment options that best suit your finances.

Can I make partial payments?

Customers are allowed to make partial payments but security will be released only on closure of loan and repayment of all dues.

In case of default what happens to my gold?

The bank assists with convenient repayment modes. We also send periodic reminders to our customers before and after the due date to pay the dues and close the loan. A penalty is levied in case of any defaults on the due date as per the Service Fee reckoner. However, once the dues pass 90 days the bank as a last resort holds right to recover the dues by way of auctions of the gold collateral of the customer. The bank sends an auction notice to the customer prior to processing the same. We understand the affinity that the customer would have to their gold jewellery, and thus, the customer may settle the dues and collect the gold prior to the set auction date.

Is a Gold Loan available for short tenures?

Gold Loans are designed to meet short-term funding requirements and have shorter repayment tenures of 6 to 36 months, compared to personal loans, which have maximum repayment tenure of 5 years.
You also get the option of renewing the loan at the end of the gold loan tenure and increasing the loan tenure further. While availing of the renewal facility, you can also use the top-up facility at the prevailing gold prices.

What is the installment schedule for loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures
 

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Home Loan

What is Home Loan?

Home Loan vertical is one of the retail product serving the purpose of loan funding to an individual or an entity for the purpose of purchase/ construction/ upgradation of residential property or acquisition of land and construction to be used for residential purposes.

How do I apply for Home Loan at AU BANK?

You can apply for a Home loan from Au Small Finance Bank through our website (www.aubank.in). Or, you could visit the nearest branch of AU Bank to submit your application for a loan.

What is the mode of Re-payment for Home Loan?

Repayment can be done through Standing Instructions (SI), Post-dated Cheques (PDC), NACH or other electronic banking remittances mode.

What is the Instalment schedule for Home loan repayment?

Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures

 What is the need of Home Loan?

Customer can avail Home Loan for variety of purpose that includes but not limited to,
  • For the purpose of purchasing the Home/Flat.
  • For the purpose of Renovation.
  • For the purpose of Construction of Home.
  • For the purpose of Balance transfer of running Home Loan to AU Bank.

What are type of facilities available at AU BANK Home Loan?

  • Home Purchase
  • Home Refinance
  • Home Improvement
  • Home Construction
  • Land Purchase + Construction
  • HL Balance Transfer
  • Loan Against Property
  • Commercial Property Purchase

Who can be the Co-Applicant to my Home loan application?

Co-Applicant can be close family members. All Co-owners need to be Co-Applicant of Home loan.

Is Co-Borrower or Financial Guarantor is mandatory for taking a Home Loan?

For a Home loan, Guarantor / co-borrower is not mandatory. It completely depends on Credit assessment of customer basis bank norms.

What are the profile segment we fund at AU bank and their assessment method?

We are funding to both Salaried and Self-Employed Professional/Non-Professionals at AU Bank basis Cash Salaried, Documented Income, Assessed Income and Combined Income (Documented + Assessed Income).

What are the documents required to apply for a Home Loan?

HL vertical is a very focussed retail product at AU Bank and aligned with customer needs. To apply for a home loan, you need to submit documents such as a proof of identity, a proof of address, a loan application form that has been duly filled along with financial documents and property documents.

What are the parameters that determine the eligibility for Home Loan in AU Bank?

We determine your financial loan eligibility after considering various factors, including Borrower/Co-Borrower profile, Financial income, Obligations and property, among other things to follow as per banks policy.

What is the Loan to Value (LTV) and FOIR offered for Home Loan?

The Loan to Value amount and FOIR is based on type of property provided as collateral, profile of the customer and other checks. 

Do we offer Fixed or Floating ROI on Home Loan at AU BANK?

AU BANK offers Fixed, Flexi and Floating ROI for Home Loans customers. We have a competitive ROI in HL starting from 8%*Conditions applied

When does my Home Loan EMI start?

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans pertaining to Under-construction properties, EMI usually begins after the complete home loan is disbursed but customers can their EMI as soon as they avail their first disbursement. For Resale cases, EMI on the whole loan amount start from the subsequent to the  month of disbursement.

Can Applicant apply jointly with Spouse? Will both of salaries be clubbed for computing the loan amount?

Yes, your salaries can be clubbed for the purpose of calculation of the loan amount. This can be done either when the property is jointly held with the spouse or acting as Co-Applicant. Thus, we ensure a great deal of flexibility in the entire exercise of financing your house.

What is PMAY scheme and how it can benefit Home Loan buyers?

Pradhan Mantri Awaas Yojna (PMAY) - Housing for All is a mission launched by the Government of India for boosting Home ownership. The PMAY scheme caters Economic Weaker Section (EWS) and Low Income Group (LIG) of the society. Benefits include Credit Linked Subsidy Scheme (CLSS) under PMAY Urban, thus making the Home Loan affordable as subsidy provided will reduces the final loan value of customer on Home Loan. The subsidy can be availed for constructing or purchasing a house, as per the eligibility criteria prescribed under the scheme.

Is there any tax benefit available on Home loan? What are the tax benefits availble on HL?

Yes, you can claim the amount paid towards the repayment of the principal and the interest components as deductions in your income tax return. The interest portion of the EMI paid for the year can be claimed as a deduction is up to a maximum of Rs 2 lakh under Section 24. The maximum amount that can be claimed for principal portion is up to Rs 1.5 lakh under Section 80C.

Can I make Pre-payment for my Home Loan account and is there any charges applicable?

Yes. Pre-payment is allowed for HL and depends on type of Scheme. To know more about Pre-payment charges, click here.

Can customer transfer a Home Loan from other bank/Housing Finance company?

Yes, customer can apply for a loan to us for closing a Home Loan availed from another Bank / Housing Finance Company.

Can customer avail a Top-Up loan in addition to Balance Transfer loan from AU Bank?

Yes. Top loan can be availed in addition to a balance transfer loan as per eligibility of customer.

What security can Customer provide for availing a Home Loan?

Security of the loan would be property being purchased or constructed or desired property financed by us. Customer to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.

Will Interest rate change during the tenure of loan?

The interest rate depends on type of loan i.e Floating rate or Fixed/Flexi rate. Under Floating rate type, the interest rate is linked to your lender’s benchmark rate. Any movement in the benchmark rate will have proportionate change in your applicable interest rate. The interest rates are reset at defined intervals. Fixed rate offers constant rate for the entire tenure of loan. For Flexi rates, the interest will switch to floating rate post fixed rate tenure.

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