Indiabulls Home Loan Interest Rates
Interest Rate

Starting @ 8.80%

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Processing Fee

Upto 1%

Loan Tenure

5-30 years

Lowest EMI Per Lakh

₹ 790 for 30 years

Prepayment Charges

Nil charges for floating rates loans

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About Indiabulls Home Loan

Indiabulls is one of the largest Housing Finance Company (HFC) which is headquartered in Gurgaon, India. Indiabulls is very well known for its financial services at affordable and competitive prices on housing loans. The housing loans from Indiabulls can be availed by visiting its branch or applying online.

Indiabulls has a variety of Home Loan schemes which are specially designed to suit the requirements of its customers. Indiabulls supports you through every step to avail a Home Loan. They provide doorstep services, quick approvals and processing, complete document checklist service along with fast disbursal of the Home Loan.

Features and Benefits of Indiabulls Home Loan

  • Affordable interest rates
  • The Home Loan application and approval process is very simple and hassle-free
  • Loans available for NRIs as well
  • The tenure of the Home Loan is to a maximum period of 30 years
  • Income tax benefit is covered under section 24 and section 80C of the Income Tax Act
  • One can apply for a Home Loan individually or jointly and the co-applicants need not be the co-owners of the property.
  • Zero hidden cost
  • Simplified documentation

Indiabulls Home Loan Interest Rates

The final interest rate for Indiabulls Home Loan depends on the profile, loan amount, tenure, and type of property. Indiabulls offers attractive floating interest rates on housing loans in the range of 8.80% to 12% per annum (as on 20.05.2019). Women borrowers get a concession on housing loan interest rate at Indiabulls.

Factors Affecting Indiabulls Home Loan Interest Rate

  • Loan amount:The interest rate for a housing loan at Indiabulls depends upon the loan amount you apply for. The higher the loan amount, the lesser will be the rate of interest.
  • Existing customers: Indiabulls offers discounted interest rates to its existing customers in view of their cordial relationship.
  • Type of loan opted for: Indiabulls offers differential interest rates for different schemes.
  • The income of the borrower:The rates may vary as per the borrower's monthly income and repayment capacity.

Types of Indiabulls Home Loan

Indiabulls offers the following types of schemes under its Home Loans segment:

Home Loans

Purpose

Loan for house purchase

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Up to 30 years, or up to the age of 65 years/ retirement, whichever is earlier

Home Loan to NRIs

Purpose

Home Loans for Dubai-based non-resident Indians (NRIs) to help them purchase a home in India.

Who can apply

Any Dubai-based salaried/self-employed NRI who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Up to 30 years, or up to the age of 65 years/ retirement, whichever is earlier

Plot Loans

Purpose

Loan for plot purchase

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Up to 30 years, or up to the age of 65 years/ retirement, whichever is earlier

Home Improvement Loans

Purpose

Loan for improvement and renovation of an existing house

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Up to 15 years

Home Extension Loans

Purpose

Loan for homeowners who wish for greater space to meet their growing family's needs by expanding their home.

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Depends on customer profile, age at the time of loan maturity, the age of the property, and other factors.

Rural Home Loans

Purpose

Affordable Home Loans for people living in rural or semi-urban areas of India.

Who can apply

Any salaried/self-employed individual who wishes to purchase a home in a rural/ semi-urban area of India.

Repayment tenure

Depends on customer profile, age at the time of loan maturity, the age of the property, and other factors.

Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS)

Purpose

Credit Linked Subsidy Scheme (CLSS) based Home Loans for Economically Weaker Section, Low Income Group, Middle Income Group-I, and Middle Income Group-II of society.

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Subsidy is available for up to 20 years or till the end of the tenure, whichever is earlier

Maximum subsidy

You can get a subsidy of up to 2.67 Lakh

Home Loan Balance Transfer

Purpose

Facility to transfer your existing housing loan from any private/foreign banks, scheduled commercial banks, HFCs (registered with national housing bank) to Indiabulls Home Loans. You can get additional funds on a transfer through top-up facility.

Who can apply

Any salaried/self-employed individual who is earning a regular income and who is minimum 21 years or above at the time of loan application and maximum 65 years at loan maturity.

Repayment tenure

Up to 30 years, or up to the age of 65 years/ retirement, whichever is earlier

Indiabulls Housing Loan Eligibility Criteria

The eligibility criteria for Indiabulls Home Loans are as below:

  • The applicant of the loan must be a resident of India/ NRI (for Home Loan to NRIs)
  • The applicant needs to have a steady source of monthly income
  • Salaried as well as self-employed applicants can apply for the loan
  • The credit history of the applicant must be good with no default/delayed payment records.
  • The applicant should be minimum 21 years of age at the time of application and maximum 65 years at the time of loan maturity.  
  • Indiabulls Home Loans can be availed to buy a house/plot or renovate/extend an existing home.

Documents Required for Indiabulls Housing Loan

Documents for Resident Indians

  • Duly filled and signed application form
  • 1 coloured recent passport-size photograph of all applicants (should be signed across)
  • Processing fee cheque
  • Property documents
  • KYC documents
    • Name and date of birth proof
    • Identity proof
    • Signature proof
    • Residence proof
  • Income documents for salaried individuals
    • Salary slips for the last 3 months (6 months in case of variable salary)
    • Form 16
    • Bank statement
  • Income documents for self-employed applicants
    • Income Tax Returns with financial statements
    • Bank statement

Documents for NRI Applicants

  • Application form duly filled & signed by all applicants
  • 1 coloured recent passport-size photograph of all applicants (should be signed across)
  • Processing fee cheque
  • KYC documents
    • Identity proof: PAN Card, Passport and Visa/ Work Permit
    • Residence proof: Telephone/ electricity/ water bill/ Registered Rent Agreement
  • Income documents for salaried individuals
    • Salary slips for the last 3 months (6 months in case of variable salary)
    • Salary bank statements for the last 6 months
    • Form P60/P45
    • Latest Employment Contract
    • Consumer Credit Check report
  • Income documents for self-employed applicants (including Locum Doctors and IT Contractors)
    • ITR, computation of income, and financials for the last 2 years
    • Balance Sheet with P&L account, and Audit Reports (for all firms)
    • Last 6 months bank statement of all active bank accounts
    • Consumer Credit Check report
  • Other documents (as applicable):
    • Sanction letter/ bank account statement of currently running loans and statement of the bank reflecting loan repayments
    • Bank statement for own contribution
    • Photocopy of title documents if the property is already decided

All documents must be self-attested

Indiabulls Home Loan Processing Fee and Other Charges

Following are the charges and fees associated with the Indiabulls Home Loans apart from interest rate:

Description Charges

Processing fees

  • For loan amount up to 30 Lakhs: Up to 10,000
  • For loan amount between 30.01 Lakhs to 3 Crores: Up to 0.50% of the sanctioned loan amount
  • For loan amount above 3 Crores: 0.50% to 1% of the sanctioned loan amount
  • Legal Opinion/ SRO Search/ ROC Search/ Technical Valuation/ Non-Encumbrance Certificate from SRO charges are included in the processing fee

Prepayment charges

  • For floating rate loans: Nil
  • Fixed and Floating (Dual Rate) Loans:
    • For partial or full pre-payment during the Fixed Interest Rate period if the loan is pre-closed from own sources: Nil
    • For partial or full prepayment during the Fixed Interest Rate period from other than own sources: 2% of the amount prepaid

Charges for transaction handling in balance transfer or resale Home Loans

2,500

Charges or PDC/ ECS dishonour

500

Late payment charges

24% p.a. of outstanding EMI

Charges for retrieval of copies of loan/ property documents held in Indiabulls custody

Hard copies with Indiabulls attestation: 500

Emailing of scanned copies: NIL

Statement of account/ amortization schedule charges

200

Charges for obtaining certified true copies of Title Deeds from SRO (if applicable)

As per Actual

Loan agreement stamping charges

As applicable by state laws

Stamping charges of other legal documents such as Indemnity Bond, Legal Affidavits, Legal Undertakings, Personal Guarantee Bond, Power of Attorney for NRI Home Loans, etc.

As applicable by state laws

Charges for retrieval of original property documents

5,000

Database admin fee

650 (including service tax)

FAQs on Indiabulls Home Loan Interest Rates

What are the applicable processing fees charged prior to loan disbursement?

The processing fee applicable on Indiabulls Home Loan is as follows:

  • For loan amount up to 30 Lakhs: Up to 10,000
  • For loan amount between 30.01 Lakhs to 3 Crores: Up to 0.50% of the sanctioned loan amount
  • For loan amount above 3 Crores: 0.50% to 1% of the sanctioned loan amount
  • Legal Opinion/ SRO Search/ ROC Search/ Technical Valuation/ Non-Encumbrance Certificate from SRO charges are included in the processing fee

Who can be the co-applicant for a Home Loan?

Any immediate member of the family who must be related by blood can be a co-applicant such as spouse or children

What is the maximum available repayment tenure?

The maximum repayment tenure for Indiabulls Home Loan is 30 years (including a holiday period of 3 months) or the applicant attaining the age of 65 years/ till retirement (whichever is earlier). 

Which are the types of Home Loans extended by Indiabulls?

Indiabulls offers the following housing loans to its customers:

  • Home Loans
  • Pradhan Mantri Awas Yojana (PMAY)
  • Home Loan Balance Transfer
  • Home Loans to NRIs
  • Rural Home Loans
  • Plot Loans
  • Home Improvement Loans
  • Home Extension Loans

Why should I opt for a Home Loan Balance Transfer to Indiabulls?

Indiabulls offers affordable interest rates, long repayment tenure, and low processing fee. If your EMIs for a current housing loan are higher than you can opt to transfer the outstanding balance to Indiabulls Home Loan.

What is the maximum Home Loan repayment period offered by Indiabulls?

You can get Home Loan repayment tenure of up to 30 years including a holiday period of 3 months.

Can I foreclose the floating rate housing loan with Indiabulls? What are the charges applicable for the same?

Yes, you can foreclose the housing loan based on floating interest rate with Indiabulls at zero charges.

How is the interest on Indiabulls Home Loan calculated?

Interest for Indiabulls Home Loans is calculated on monthly rest.

Indiabulls Home Loan - Snippets

05.01.2018: Indiabulls increases floating housing loan rates

Indiabulls has increased its floating rate of interest rate by 10 basis points. The latest rates start at 8.80% for women and 8.85% for men. The lender has discontinued Indiabulls Housing Loan fixed interest rates.

24.04.2018: Indiabulls Housing Finance Q4 net profit up by 22.6%

Indiabulls, one of the largest housing finance companies in India, reported an increase of 22.6% in its net profit for Q4. It has credited to a strong growth in loan assets and net interest income of which the former rose by 34% to 1.23 lakh crore in Q4 in 2018.

03.08.2018: Indiabulls posts Q1 result - profit up by 30%

Indiabulls, one of the largest housing finance companies in India, has announced its Q1 result and the net profit up by 30% at 1048 crore against 804 crore in the last year. Their home loan book grew by 33% and the net interest income increased by 22% at 1690 crore against 1400 in the year ago.

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