IIFL Home Loan

1. IIFL Home Loan to buy new homes
2. Home Improvement/ Extension Plan
3. Loans to NRIs
4. Balance Transfer
5. Swaraj Home Loan

IIFL Home Loans are given for purchase of:-

• Residential properties/plots
• A flat, row house, bungalow from private builders. The project has to be in the approved list of IIFL
• Properties from Development Authorities for example DDA, MHADA

Features of IIFL Home Loan

IIFL Housing Loans come with some unique and attractive features which are:

1. Various funding values have been set according to the loan amount.
2. Attractive rate of interest.
3. Trouble free and faster documentation process.
4. A strong branch network for applying and servicing of the loan thereafter.
5. A very simple EMI based IIFL Home loan repayment option.
6. A very sound legal and technical advice.

Loan Amount

The maximum finance part of the loans offered by India Infoline is subject to the value of the property and the repayment ability of the customer as assessed/considered by IIFL. The IIFL home loan offers a maximum Loan tenure of 30 years to salaried and 20 years to self-employed.

Loan Amount	Maximum Finance percentage
Up to 30 Lakhs	90%
More than 30 Lakhs but less than 75 Lakhs	80%
More than 75 Lakhs	75%

IIFL Home Loan Eligibility

IIFL Housing Loans are given to both salaried and self-employed category of people. Co applicants like close relatives, partnership firms, private limited companies can also be added to the home loan from India Infoline Finance Ltd.

For Salaried:

• Minimum Age: 18 Years
• Maximum Age: 70

For Self Employed:

• Minimum Age: 18 Years
• Maximum Age: 70

Documents Required for IIFL Home loans

As mentioned above, easy, hassle free and minimum mandatory documentations are needed along with the IIFL Ltd. home loan application form. The details are as follows:-

Documentation	Salaried	Self employed
Financials or Proof of Income	i. Salary Slip for last 2 months ii. Latest Form 16 or ITR iii. Copy of Bank Statements for salary account for last 6 months.	i. Income Tax return with computation of last 2 financial years. ii. Profit and Loss account with computation of Income and Balance sheet with all its annexure for last 2 years certified by a CA. iii. Copy of Bank Statements for main account for last 6 months for the business as well as for individuals.
Proof of Identity & Address	i. Valid Passport ii. Voter’s ID iii. Valid Driving License iv. Aadhar Card v. PAN Card i. Documents as approved by National Housing Board (NHB) which are required from time to time.	i. Valid Passport ii. Voter’s ID iii. Valid Driving License iv. Aadhar Card v. PAN Card i. Documents as approved by National Housing Board (NHB) which are required from time to time.
Other Documents	i. Application form duly filled up. ii. Papers for existing loans together with the 6 months bank statements from which the repayment is made.	i. Application form duly filled up. ii. Papers for existing loans together with the 6 months bank statements from which the repayment is made. iii. Memorandum and Articles of Association. iv. List of Directors and shareholders with their individual shareholding certified by a CA /CS. v. Partnership Deed.
Documents required for sanctioning.	i. Copy of complete chain documents. ii. If executed, copy of Agreement to sell. iii. Copy of Allotment Letter/ Buyer Agreement ( If applicable) iv. Copy of receipts and payments made to the developer.	i. Copy of complete chain documents. ii. If executed, copy of Agreement to sell. iii. Copy of Allotment Letter/ Buyer Agreement ( If applicable) iv. Copy of receipts and payments made to the developer.

IIFL Home Loans are given for purchase of:-

• Improvement of residential properties
• Renovation of residential properties

Features of IIFL Home Improvement Loans/Home Extension Loans

• Various funding values have been set according to the loan amount.
• Attractive rate of interest.
• Trouble free and faster documentation process.
• A strong branch network for applying for IIFL Housing loan and servicing of the loan thereafter.
• Simplehome loan EMI based repayment option.
• Sound legal and technical advice.

Home Loan Eligibility For IIFL Home Improvement Loan

Home Loan from IIFL Limited is given to both salaried and self-employed category of people. Co applicants like close relatives, partnership firms, private limited companies can also be added.

For Salaried:

1. Minimum Age: 18 Years
2. Maximum Age: 70

For Self Employed:

1. Minimum Age: 18 Years
2. Maximum Age: 70

Documents for IIFL Home Improvement Loans/Home Extension Loans

The above mentioned set of documents is required for this type of loan.

IIFL provides home loan to Non Resident Individuals also. The purposes are:

• Purchase of new residential property
• Improvement/ Renovation of residential property
• Purchase of under construction properties
• Plot purchase

Loan Amount:

Same as per the other home loan schemes

Home loan Eligibility for IIFL NRI Home Loan

Following can apply for IIFL NRI Home Loan:-

• An Indian citizen holding valid Indian Passport.
• Passport must not have No Entry stamp, which prohibits an NRI to enter a country.
• Passport with Valid Entry Visa for NRIs where he is present in person for submitting the application.
• For OCI/ PIO, Valid PIO / OCI card needs to be furnished along with the valid passport.

Power of Attorney (POA)

POA must be given to a Resident Indian irrespective of the fact whether the NRI was present in India at the time of application. Spouse cannot be a POA. However, a resident co-borrower can be a POA. A POA can be the co-applicant, however if there is any other co-applicant in the loan the POA can choose not to be there as a co-applicant.

Documents Required:

As mentioned above, easy, hassle free and minimum mandatory documentations are needed along with the loan application form. The details are as follows:-

Documentation	Salaried/Self Employed
Financials or Proof of Income	i. Salary Slip for last 2 months ii. Bank Statements for last 6 months for both NRE/NRO and foreign bank account. iii. Appointment letter/ Increment Letter/ Contract Letter. iv. A Valid work permit.
Proof of Identity & Address	i. Valid Passport ii. Valid Visa iii. Copy of valid Rent Deed or title document as foreign residence proof. i. Documents as approved by National Housing Board (NHB) which are required from time to time.
Other Documents	i. Application form duly filled up. ii. Papers for existing loans together with the 6 months bank statements from which the repayment is made.
Documents required for sanctioning related to property.	i. Copy of complete chain documents. ii. If executed, copy of Agreement to sell. iii. Copy of Allotment Letter/ Buyer Agreement ( If applicable) iv. Copy of receipts and payments made to the developer.

IIFL facilitates Balance Transfer option which is transferring the existing outstanding Home Loan from another Bank or any other Financial Institution and gets an additional top up loan. IIFL offers attractive interest rate for balance transfer that starts from 9.50% onwards.

Details of the Loan

• Maximum Loan tenor is 30 years for both salaried and a self-employed individual.

Loan Amount:

Same as per other home loan schemes

Documents Required for IIFL HLBT

As mentioned above, easy, hassle free and minimum mandatory documentations are needed along with the India Infoline home loan application form. The details are as follows:-

Documentation	Salaried	Self employed
Financials or Proof of Income	i. Salary Slip for last 2 months ii. Latest Form 16 or ITR iii. Copy of Bank Statements for salary account for last 6 months.	i. Income Tax return with computation of last 2 financial years. ii. Profit and Loss account with computation of Income and Balance sheet with all its annexure for last 2 years certified by a CA. iii. Copy of Bank Statements for main account for last 6 months for the business as well as for individuals.
Proof of Identity & Address	i. Valid Passport ii. Voter’s Id iii. Valid Driving License iv. Aadhar Card v. PAN Card i. Documents as approved by National Housing Board (NHB) which are required from time to time.	i. Valid Passport ii. Voter’s Id iii. Valid Driving License iv. Aadhar Card v. PAN Card i. Documents as approved by National Housing Board (NHB) which are required from time to time.
Other Documents	i. Application form duly filled up. ii. Papers for existing loans together with the 6 months bank statements from which the repayment is made. i. A letter on the letterhead of the current lender stating the list of property documents held by them. ii. Latest outstanding balance letter from the current financial institution on their letter head.	i. Application form duly filled up. ii. Papers for existing loans together with the 6 months bank statements from which the repayment is made. i. Memorandum and Articles of Association. ii. List of Directors and shareholders with their individual shareholding certified by a CA/CS. iii. Partnership Deed. iv. A letter on the letterhead of the current lender stating the list of property documents held by them. v. Latest outstanding balance letter from the current financial institution on their letter head.

IIFL offers interest rate for Swaraj Home Loan starting from 11.00% onwards.

Details of the Loan

• Maximum Loan tenor is 30 years for both salaried and a self-employed individual.

Loan Amount: 

Same as per other home loan schemes

Eligibility:

Same as per other home loan schemes

The organization provides the facility of home loan EMI calculators. With the help of this calculator, an individual can find out the Equated Monthly Instalments as per his/her eligibility. The applicant can access Paisabazaar.com site at any time and use the calculator and calculate his EMI depending upon the amount of loan he/she wishes to apply for.

Individuals can now easily apply for Home loan by IIFL from the vicinity of their homes using the internet facility. Individuals can apply for an IIFL Home loan online from the paisabazaar.com website which is an all-inclusive website for knowing the loan, applying for the India Infoline home loan and eventually getting the India Infoline home loan sanctioned.