Indiabulls Home Loan Details

Here are highlights of Indiabulls Home Loan:

Loan AmountUp to 90 % of the property cost
Rate of interest8.65% onwards
TenureUp to 30 Years
Lowest EMI possibleRs. Per 780 Lakh
Processing feeUp to 2% of the loan amount + GST
Prepayment/ Foreclosure ChargesNil for floating home loan

Indiabulls Home Loan Features

Key features of Indiabulls Home Loan can be summarised as:

  • Indiabulls home loan interest rates start 8.65 % p.a. onwards
  • Repayment tenure: up to 30 years
  • Loan amount: Up to 90% of the property value.
  • Indiabulls Housing Loan Processing Fees is nominal with capping at 2% of the loan amount.
  • Lowest EMI possible: Rs. 780 per lakh.

Indiabulls Home Loan Benefits

  • Simple application process
  • Quick approval & disbursal
  • Attractive interest rates
  • Indiabulls Home Loan Interest rate concession for women applicants
  • Flexible repayment plans
  • Tax benefits on Indiabulls home loan repayment
  • Flexible EMI schemes
  • Add a co-applicant to increase loan eligibility
  • Customised options according to borrowers’ needs.
  • Apply for purchase or construction of flat, villa or plot.
  • Indiabulls Home loan for under construction properties are also available.
  • No pre-payment and foreclosure charges on Indiabulls home loa.
  • No hidden charges.
  • Balance transfer & top up facility available.
  • Online as well as offline customers support.
  • Check application & loan status instantly online.

Indiabulls Home Loan Eligibility Criteria

You can instantly check eligibility for Indiabulls housing loan online using home loan eligibility calculator. All you need to do is fill your monthly income, loan tenure & interest rate to check Indiabulls home loan eligibility amount.

Other eligibility factors include:

  • Stable source of income. Both salaried and self-employed qualify to apply.
  • NRIs living in UK and Dubai can apply by contacting Indiabulls' representative office in London & Dubai besides applying online.
  • The applicant should be between 21 to 65 years during the loan term.
  • Standard margin rates apply for all Indiabulls home loan.
  • Minimum CIBIL score should be 550 to apply for Indiabulls home loan.
  • Add spouse or immediate family member to enhance Indiabulls home loan eligibility.
  • A co-owner must become a co-applicant for indiabulls housing loan.

Indiabulls Home Loan Documents Required

To get your home loan application sanctioned and approved swiftly, go through following checklist. Keeping documentation handy helps you get faster turnaround for your Indiabulls Home Loan application.

List of Indiabulls home loan documents required for online application

Common documents (Mandatory for all applicants)
  • Passport size photo of main applicant
  • Duly signed loan application form
  • Identity proof: 
    Aadhaar Card/ Passport/ PAN Card/ Driving License/ Voter's ID
  • Address proof: 
    Passport/ Electricity Bill (maximum 3 months old)/ Registered Rent Agreement
  • Processing fee cheque
  • Property documents (original copies):
    Sale Deed, Transfer of Ownership, Katha
  • No Objection Certificate (NOC) from the builder or Housing Society (original copy)
  • Land Tax Payment Receipt
  • Possession Certificate
Documents for salaried applicants

Income Documents (duly attested):

  • Last 2 years' Form 16
  • Form 26 AS or ITR for the last 2 years, if Form 16 is not available
  • Offer letter
  • Last 1 year's bank statement
  • 1 year salary certificate with the company stamp
  • Last 3 months' salary slip
  • IT returns
Documents for Self-Employed  (Non-Professional Applicants)
  • 2 years’ IT returns with computation
  • 2 years' Balance Sheet
  • 2 years' Profit & Loss Statement
  • Last 6 months' bank statement
  • Registration certificate of establishment under Shops & Establishments Act/ Factories Act or Gumasta License
  • Proof of qualification
Documents for Self Employed Professionals
  • 2 years’ IT return with computation
  • 2 years' Balance Sheet
  • 2 years' Profit & Loss statement
  • Last 6 months' bank statement
  • Proof of qualification
  • Gumasta license
Documents for BSF Applicants
  • Application form attested with service certificate
  • Last 3 months' salary slips
  • Last 2 years’ Form 16
  • Confirmation certificate/ service certificate has to be collected in the given format
Documents for Merchant Navy/ NRI Applicants
  • If living on rent, rent agreement + utility bills (3 months or old)
  • Last 6 months' salary slips
  • Passport
  • Continuous Discharge Certificate (CDC)
  • Last 3 years' Contract Copy
  • Bank statement of 1 year (for NRE/ NRO Account)
  • 2 years’ Form 16 with computation
Other Related Documents (If Applicable)
  • Sanction Letter/ Account Statement of existing loans and bank statements showing loan repayments
  • Form 16 (if recently employed)
  • Bank statement for payment to the builder (for own contribution)
  • Property Title Documents if the property is decided

Indiabulls Home Loan Interest Rates

Indiabulls offers Home Loans at floating as well as fixed interest rate. While the floating interest rates fluctuate as per the market conditions, fixed interest rates remain constant during the entire loan tenure.

Currently floating interest rates on Indiabulls home loan vary from 8.65% to 11.85% p.a. However, effective interest rate depends on a variety of factors such as profile, tenure, loan amount, and property type.

You can also opt for a dual home loan wherein loan is approved at fixed interest rate for the initial 2 years and shifts to a variable/ floating rate variant automatically for the rest of the tenure.

Also, note that interest is calculated on monthly rests and thus your interest component in EMI will reduce each month.

Indiabulls Home Loan Processing Fees & Charges

Processing fees1.00% onwards
Prepayment charges- floating rate Loans (Individual)NIL
Fixed and dual loans (fixed & floating loans)
  • NIL – After the loan is converted into floating variant i.e. after expiry of fixed interest period.
  • 2% of the partial or full pre-payment during fixed interest rate period.
  • In case of takeover of a home loan - 2% of the amount prepaid.
Non-Individual Loans- Floating & dual loans- (fixed and floating loans)
  • Up to 25% of principal outstanding with in the preceding 12 months – NIL
  • More than 25% made within the previous 12 months - 2% of the excess amount paid
  • Foreclosure charges - Applicable at 2% of the foreclosure amount
Technical/ Valuation and Legal opinion charges, SRO search charges, ROC search charges, non-encumbrance certificate from SRORs 2,500
Transaction handling charges for balance transfer or resale home loansRs 1,500
Charge for cheque / NACH dishonourRs 500 (home loans)
Nil for ECS / PDC
Late payment charges24% p.a. on outstanding EMI
PDC/ ECS swapping chargesNIL
Retrieval charges for copies of loan /property document in IB custodyEmailing of scanned copies: NIL

Physical copies with IB attestation: Rs 500
Charges for statement of account / amortization scheduleRs 200
Registration charges for borrowers’ ECS mandate (loan repayment)NIL
Income Tax Certificate in home loansNIL
Compliant handling chargesNIL
Charges for certified true copies of title deeds from SRO, if applicableAs per actual
Stamping charges of loan agreement As per actual, subject to State laws
Stamping charges of other legal documents like indemnity bond, legal undertakings, legal affidavits, personal guarantee bond, power of attorney for NRI home loansAs per actual, subject to State laws
Original property documents retrieval for specific activity like production at SRO or development authority (on borrower request)Rs 5,000
Database admin feeRs 650 (inclusive of service tax)

* GST & statutory charges applicable in addition to levied fees & charges.

Indiabulls Home Loan Schemes

Indiabulls Home Loans

  • Instant home loan product for purchase & construction of a new or pre-owned residential unit.
  • End to end digital processing.
  • Open for both salaried as well as self-employed individuals.
  • Extended tenure up to 30 years at attractive rate of interest.
  • Indiabulls Housing finance up to 75% to 90% of the cost of the property, subject to loan amount, borrower’s income and fulfilment of other eligibility factors.
  • The loan tenure for salaried applicants should not extend beyond their retirement.
  • Self-employed persons can repay up to 65 years of age.

Indiabulls Home Improvement Loans

  • Secured online loan for renovation or improvement of existing homes.
  • Open to both new and existing customers.
  • Available for all types of internal & external home repair & improvement expenses.
  • The eligibility criteria are in lines with other Indiabulls Home Loan.
  • The maximum repayment tenure is 15 years and varies as per borrower’s profile and age of the property on loan maturity.
  • Flexible repayment options.

Indiabulls Home Extension Loans

  • Home extension loan for growing needs of your family.
  • The repayment tenure depends on several factors like customer's profile, age at maturity of the loan, and the age of the property at maturity.
  • The overall eligibility criteria are same for all categories of  Indiabulls home loan.
  • End to end online fulfilment.
  • No prepayment charges.
  • Flexible repayment options.

Indiabulls Home Loan Balance Transfer

  • Enjoy high value  Indiabulls home loan refinancing/ balance transfer option with IHFL.
  • Extended tenure up to 30 years, subject to your age and property value & location.
  • No Prepayment charges.
  • Flexible loan tenure & repayment options.
  • High loan to value eligibility amount.
  • Avail of attractive top up option.
  • Lower EMIs or adjust repayments according to needs.
  • Attractive  Indiabulls home loan interest rate, varying from 8.80% to 12.00% p.a, subject to your profile, loan amount, tenor and property type.

PMAY (Pradhan Mantri Awas Yojana)

PMAY is a credit-linked subsidy scheme (CLSS) launched by Government of India for providing affordable housing to all Indians by 2022.

Indiabulls Housing Finance is one of the nominated financial institutions to provide Home Loans under PMAY scheme. The maximum eligible subsidy amount under PMAY is Rs 2.67 Lakhs annually. The last date to submit application for PMAY 2021 benefits is 31 March 2022 under LIG & EWS Categories.

 Indiabulls Home Loans for NRIs

  • IHFL provides Home Loans for NRIs based in the United Kingdom and Dubai.
  • NRIs in these countries can contact Indiabulls' representative office in London and Dubai respectively.
  • Loan can be applied, sanctioned, approved & disbursed online.
  • NRI Home Loan offers benefits at par with regular home loans.

 Indiabulls Rural Home Loans

  • Affordable housing loan for rural and semi-urban residents in India.
  • Instant online sanction.
  • Transparent processing & attractive terms and conditions.
  • Flexible tenure & repayment option.
  • Easy documentation.
  • Swift & responsive customer support.

Indiabulls Home Loan Comparison with Other Lenders

LenderMaximum TenureInterest RateProcessing Fee
Indiabulls Home Loan30 years8.65 %onwardsUp to 2% of the loan amount + GST & applicable statutory levies
ICICI Bank Home Loan30 years6.75%-7.55%0.50% - 2% (Max Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
SBI Home Loan30 years6.75% - 8.05%Up to 0.50% + applicable GST
Axis Bank Home Loan30 years6.90%-8.40%Up to 1%, minimum Rs.10,000
HDFC Ltd Home Loan30 years6.75%-7.65%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes

How to Calculate Indiabulls Home Loan EMI?

Indiabulls follows daily reducing balance method for calculating interest on Indiabulls home loan. You can determine your home loan EMI by making use of the MyMoneyMantra EMI Calculator. The process is simple. Enter the loan amount, interest rate and loan tenure in the calculator screen. You will instantly get loan EMI, total repayment amount along with complete amortisation schedule. You can save the same for future reference. 

Indiabulls Home Loan Calculation

Loan Amount 10 years20 years30 years
Rs 20 LakhRs. 24,958Rs. 17,547Rs. 15,591
Rs 30 LakhRs. 37,437Rs. 26,320Rs. 23,387
Rs 40 LakhRs. 49,916Rs. 35,094Rs. 31,183
Rs 50 LakhRs. 62,395Rs. 43,867Rs. 38,978
Rs 60 LakhRs. 74,874Rs. 52,640Rs. 46,774

*For EMI calculation purpose, flat rate of Interest @ 8.65% p.a. is considered. 
The calculation is indicative only. Your EMI schedule will vary as per effective rate of interest offered to you.

You can also use Indiabulls home loan calculator to get EMI details conveniently through the lender’s portal. 

Indiabulls Pradhan Mantri Awas Yojana Subsidy 2021

Indiabulls Housing Finance is authorised by the Government of India to offer Home Loans under the Pradhan Mantri Awas Yojana (PMAY). This program provides credit linked interest subsidy to the different categories of home loan borrowers: EWS, LIG, MIG I & MIG II. This subsidy is credited upfront to the loan account. 

PMAY details & eligibility criteria-

Category of BorrowerIncome CriteriaLoan amount range eligible for the subsidyMaximum interest subsidy
Economically Weaker Section – EWSAnnual income up to  Rs 3 Lakh Rs 6 Lakh6.5% subsidy with a maximum of  Rs 2.67 Lakh
Lower Income Group – LIGMore than  Rs 3 Lakhs and up to  Rs 6 Lakh Rs 6 Lakh6.5% subsidy with a maximum of  Rs 2.67 Lakh
Middle Income Group - MIG-IMore than  Rs 6 Lakh and up to  Rs 12 Lakh Rs 9 Lakh4% subsidy with a maximum of  Rs 2.35 Lakh
Middle Income Group - MIG-IIMore than  Rs 12 Lakh and up to  Rs 18 LakhRs 12 Lakh3% subsidy with a maximum of  Rs 2.30 Lakh

Indiabulls Home Loan Customer Care

You can contact Indiabulls housing finance helpline at 

1800-572-7777

(between Monday to Saturday from 9 am to 6 pm)
(Not available on second and third Saturdays and on public holidays)

SMS 'HOME' to 56677 for home loan related queries.

Email:

Customer service: customerserviceloans@indiabulls.com
New Customer: homeloans@indiabulls.com
Loan against property: lap@indiabulls.com
NRI Customer: nriloans_hl@indiabulls.com

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MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

Indiabulls Home Loan FAQs

✅ Is Indiabulls good for home loan?

Indiabulls is a well known Housing Finance company. You should choose Indianbulls housing loan for end to end digital customer experience. The loan is offered to salaried as well self employed with minimum of 550 credit score. The eligibility criteria are lenient as compared to other top banks and HFCs. The best part is online as well as offline customer support. You can avail of loan guidance from experts for documentation and eligibility. The HFC offers doorstep service, right from the collection of documents to the disbursement. Thus, Indiabulls is one of the good choices for home loan. 

✅ What types of home loans are available from Indiabulls Housing Finance?

Indiabulls offers Home Loans for the following purposes:

  • Purchase or construction of a new house or flat.
  • Purchase of an old or pre-owned or second-hand flat.
  • Acquisition of land and construction of house thereon subsequently.
  • Repairs, renovations, improvements and extensions of existing homes.
  • Transfer of existing home loan from other financiers.
  • Topping up home loan.
  • Loan against property for personal uses.
  • Loans to NRIs (from Dubai and UK) to purchase homes in India.
  • Loans to non-individuals to buy properties for their business activities.

✅ How do I check eligibility for Indiabulls Home Loan?

Factors that determine your home loan eligibility include your income, repayment capacity, age, co-applicant’s credit worth, loan amount & tenure, value of property in deal, credit score and existing fixed obligations to income ratio. Fixed obligations are your outstanding credit card bills, loan instalments, etc. Broadly you can also check loan eligibility by using home loan eligibility calculator. Share your income, interest rate & tenure in the calculator to check the amount eligibility instantly.

✅ How do I download Indiabulls home loan statement for ITR?

To check and download your Indiabulls home loan statement for ITR or any other purpose, use Indiabulls home loan login and password at customer portal, and sign up online. Choose ‘home loan provisional certificate’ under enquiries. Here you can check the loan statement or download as per your needs.

✅ How do I check Indiabulls home loan application status online?

You can instantly check Indiabulls home loan application status online. All you need to do is login your home loan account and check the application status. Here is the direct link to check Indiabulls home loan application status online: https://login.indiabullshomeloans.com/edisha/#!/homeLoanProducts

✅ Can I apply for HLBT or balance transfer with Indiabulls?

Yes, Indiabulls offers Home Loan Balance Transfer (HLBT) facility at attractive interest rate. By moving your Home Loan to Indiabulls you can choose customised terms and enjoy hassle free & swift processing, online end to end facilitation, higher eligibility, top-up facility, easy documentation, transparent terms & no hidden charges, with an option to reduce EMIs or extend tenure as per your needs. 

✅ Can I apply for Indiabulls Home Loan online?

You can apply for a Indiabulls Home Loan online from app or website. You can apply for Indibulls Home Loan here. Our website helps you to compare various home loan products and make an informed decision according to your needs. Our loan representative can help you find the best available match for your profile.

✅ How do I improve my Home Loan eligibility?

To improve your home loan eligibility, take a few simple steps. First, add an eligible co-applicant with a stable income source. Make sure you have an excellent CIBIL history to back your home loan application. If you are already serving multiple loans, do close some of the existing accounts, especially unsecured ones and reduce FOIR. These steps will enhance your credit score and eligibility for a home loan. 

✅ How should I improve my CIBIL score for Home Loan?

Your CIBIL score is an essential factor for determining loan eligibility. Indiabulls Housing Finance requires a minimum of 550 CIBIL Score for approving a home loan application. Simple steps can help improve your score. For instance, maintaining credit utilization ratio around 30%, having a good mix of secured loans and unsecured loans, repaying credit card bills in time and refraining from rolling off credit card bills & opting for EMI option can help you protect your credit score.

✅ Is home loan insurance advisable?

Home Loan insurance is not mandatory but an advisable step for a borrower. An Insurance cover can protect your long term interests in the most affordable manner. You can buy an insurance cover for your property as well as home loan. This will ensure financial protection for your family in case of death as well as property damage.

✅ Does Indiabulls HFL offer Pradhan Mantri Awaas Yojana benefits?

Yes, Indiabulls Housing Finance Ltd is one of the nominated NBFCs that provide loan benefit under the PMAY scheme. You can apply for PMAY benefits by logging into PMAY portal. The benefit will be directly offered to your loan account.

✅ Can I switch over from a fixed home loan interest rate to a floating rate?

Yes you can switch over from a fixed interest rate home loan to a floating rate home loan. Also there is a dual home loan product at Indiabulls Housing Finance that remains at fixed rate for initial two years and consequently, shifts to a floating rate product. You can convert to a floating rate in between the tenure as well.