Urban Money

IndiaBulls Home Loan

IndiaBulls
4.5

Indiabulls Housing Finance (IBHF) offers home loans of up to 90% of the value of the property. Indiabulls's interest rates start from 8.65% per annum while its maximum loan tenure goes up to 30 years. It also provides a balance transfer facility to existing borrowers of Housing Finance Companies and other banks. A rural home loan scheme is also available in Indiabulls that allows rural and semi urban residents to borrow home loans from IBHFL.

  • IndiaBulls
  • Home Loan
Loan Amount:₹2L - ₹5Cr
Interest Rate:7.6% - 9.75%
Processing Fee: 0.5% - 1%
Tenure:30 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
IndiaBulls

7.6% - 9.75%

0.5% - 1%

₹2L - ₹5Cr

Tenure(1 - 30 Years)

Details

Features and Benefits of Indiabulls Home Loan

Know the multiple features and benefits you should know before you apply for Indiabulls Home Loan are:

  • IBHFL offers an instant sanction facility.
  • There are no hidden charges.
  • Indiabulls Housing Finance Limited Company requires minimal documentation for home loans.
  • You get attractive interest rates on Indiabulls Home Loans.
  • IBHFL has easy and speedy processing for home loans.
  • You get flexible repayment options on Indiabulls home loans.
  • One can choose between long and short tenure as per their convenience.
  • Borrowers can pay their loan using any of these payment options:
    • EMI
    • Prepayment
    • Flexible Loan Investment Plan through Cheque or Drafts / RTGS Transfer / Post Dated Cheque / Cash / NEFT / Fund Transfer

Indiabulls Housing Finance (IBHF) offers home loans of up to 90% of the value of the property. Indiabulls’ interest rates start from 8.65% per annum while its maximum loan tenure goes up to 30 years. It also provides a balance transfer facility to existing borrowers of Housing Finance Companies and other banks. A rural home loan scheme is also available in Indiabulls that allows rural and semi-urban residents to borrow home loans from IBHFL. 

  • Instant sanction facility
  • No hidden charges
  • Minimal documentation required
  • Attractive interest rates
  • Easy and fast processing for home loans

Factors Affecting Indiabulls Home Loan Eligibility

Here are the Indiabulls home loan eligibility criteria that you should know before applying.

  • The applicant should be between 18 and 65 years of age.
  • Both Indian residents and NRIs can apply for the loan.
  • The applicants must be salaried or self-employed professionals.
  • Co-applicants can only be spouses or blood relatives.
  • In the case of a joint home loan, co-applicants have to be the co-owner of the house.

Indiabulls Home Loan Fees and Charges

Particulars Charges
Processing Fees Rs. 10,000 for a loan amount that goes up to Rs. 30 Lakh. 0.50% for a loan amount between Rs. 30 Lakh and Rs. 300 Lakh. 0.50 - 1.00% for the loan amount of more than Rs. 300 Lakh.
Prepayment Charges NIL - for floating rates. 2% of the amount prepaid - for loan prepayment from other than own sources during the loan’s Fixed Interest Rate period.
Late Payment Charges 24% of outstanding EMI per annum
PDC / ECS Dishonour Charges Rs. 500 (for home loans) NIL (on the representation of ECS / PDC
PDC / ECS Swapping Charges NIL
Registration Charges for Borrowers’ ECS Mandate NIL
Charges for the Account/Amortisation Schedule Statement Rs. 200
Income Tax Certificate in Home Loans NIL
Database Admin Fee Rs. 650
Charges for Certified Copies of Title Deeds from SRO As Per Actual

Indiabulls Home Loan Interest Rates

Here’s a glance through the Indiabulls home loan interest rates and other particulars.

Particulars Details
Interest Rate 8.65% Per Annum Onwards
Loan Amount Up to 90% of Property Value
Loan Tenure Up to 30 years
Processing Charges 1% onwards plus taxes

 Note: The above figures are subject to change according to the directives by Indiabulls Housing Finance Limited Company.

Types of Indiabulls Home Loans

Indiabulls offers four types of home loans. These include the following:

Indiabulls Home Loans
  • This loan type is offered to those seeking funds to purchase, renovate or extend a residential property.
  • These loans are offered at interest rates starting from 8.65%.
  • The loan amount offered in this type of loan is up to 90% of the value of the property.
  • The tenure for these loans is up to 30 years.
Indiabulls Rural Home Loans
  • This type of loan is offered to all rural and semi-urban residents of India.
  • These loans are offered at interest rates starting from 8.65%.
  • The loan amount offered in this type of loan is decided per credit assessment.
  • The tenure for these loans is up to 30 years.
Indiabulls Home Loans for NRIs
  • This loan type is offered to those who might be staying outside India but wish to buy a property in the country.
  • The interest rates for these loans are decided as per credit assessment.
  • The loan amount offered in this type of loan is determined per credit assessment.
  • The tenure for these loans is up to 30 years.
Indiabulls Home Loan Balance Transfer
  • This loan type is offered to those who wish to transfer their existing home loan account to IBHFL for a lower rate of interest or for better terms to reduce their loan repayment.
  • The interest rates for these loans range between 8.80% to 12% per annum.
  • The loan amount offered in this type of loan is decided per credit assessment.
  • The tenure for these loans is up to 30 years.

Indiabulls Home Loan Requirements: What Affects its Interest Rates?

Given below are the Indiabulls home loan requirements that affect its interest rates.

Credit score and history Risk policy of the lender
The borrower’s age Property type and value
Income of the borrower Location of the borrower
Existing debts of the borrower Nature of employment
Market conditions

Documents Required for Indiabulls Home Loan

  • Given below is the list of documents required for the Indiabulls home loan application.
  • Duly signed application form.
  • The primary applicant’s passport size photograph.
  • Identity Proof (Aadhaar Card / Pan Card / Passport / Driving Licence / Voter ID).
  • Address Proof (Registered Rent Agreement, Electricity Bill valid only for 3 months, Passport).
  • Processing Fee Cheque.
  • Original Copies of the Property’s Documents:
    • A Sale Deed, Katha, Transfer of Ownership
    • NOC - No Objection Certificate from the builder or Housing Society
    • Possession Certificate
    • Land Tax Paid Receipt

How does the EMI Calculation Work for Indiabulls Home Loan?

Indiabulls’ Home Loan EMI Calculator helps you know the approximate EMI you need to pay monthly for servicing your housing loan. You only have to enter a few details such as the loan amount, interest rate, loan repayment tenure and processing fees to calculate the EMI amount in the online loan calculator. The EMI for an Indiabulls Home Loan is Rs. 780 per lakh.

How Does Indiabulls Home Loan Compare with Other Lenders?

Let’s take a look below what is the position of Indiabulls home loan when compared with other lenders.  

Particulars Indiabulls SBI HDFC
Interest Rate 8.65% Per Annum Onwards 6.65% - 7.05% Per Annum 6.70% - 8.20% Per Annum
Processing Fees 1% onwards plus taxes NIL Minimum Rs. 3000
Maximum Loan Amount Rs. 3 Crore Rs. 7 Crore Rs. 5 Crore
Maximum Repayment Tenure 25 Years 30 Years 30 Years
Lowest EMI Per Lakh Rs. 815 Rs. 642 Rs. 645
Age 23 - 70 Years 18 - 70 Years 24 - 65 Years
Overdraft Facility N Y - SBI Maxgain N
Benchmark Rate PLR RLLR PLR

Balance Transfer Indiabulls Home Loan

Balance transfer loan is for those who wish to transfer their existing home loan account to Indiabulls for lower interest rates. The key highlights of Indiabulls Balance Transfer Home Loan Balance include:

  • Interest Rate ranges from 8.80% to 12% per annum.
  • The loan amount is as per the credit assessment.
  • The maximum home loan repayment tenure is up to 30 years.
  • Maximum loan to value ratio.
  • Flexible options for loan tenures.

Note: The above rates are as on 30th November 2021. They are subject to change without prior notice.

Indiabulls Home Loan Customer Care Number

Helpline Number: 1800-572-7777

Official Hours: Monday to Saturday (9 am to 6 pm)

(Except 2nd and 3rd Saturdays and Public Holidays)

FAQs

From refinancing to reducing your interest, we have the answers right here.

Is a home loan a tax-saving deduction?

No. A home loan doesn’t help you save more tax. However, Section 24B says you can have the maximum saving of up to Rs. 2 lakh on account of interest payment. Thus, if you’re paying more than Rs. 2 lakh per annum as the interest amount, you cannot save taxes.

Does Indiabulls have a fixed rate of interest on a home loan?

Yes. Indiabulls offers a fixed rate of interest on a home loan.

What is the interest rate of a Home Loan in Indiabulls?

8.65% per annum onwards.

What is the maximum home loan amount I can get from Indiabulls?

You can get a home loan of a maximum of Rs. 3 Crore from Indiabulls.

How can you apply for a home loan in Indiabulls online?

If you want to apply for Indiabulls home loan online, you need to visit the official website of the organisation and follow the process of the home loan application.

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