Indiabulls Housing Finance Home Loan

The eligibility criteria to apply for Indiabulls Home Loan are:

• The age of the applicant should be between 18 and 65 years
• Both residents of India and Non-Resident Indians can apply
• Both salaried and self-employed professionals can apply
• Only spouse and blood relatives can be co-applicants
• Co-applicants should also be the co-owner of the house in case of a joint home loan

Also Check: Home Loan Eligibility

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Documents Required for Indiabulls Housing Loan

The common set of documents required to apply for Indiabulls Home Loans are:

• Passport size photograph of the primary applicant
• Duly signed application form
• Proof of Identity (any 1):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Driving License
  • Voter ID
• Proof of Address :
  • Registered Rent Agreement
  • Electricity Bill (Valid only up to 3 months old)
  • Passport
• Processing fee cheque
• Property documents (original copies):
  • A Sale Deed, Katha, Transfer of Ownership
  • No Objection Certificate (NOC) from the builder / Housing Society (Original Copy)
  • Land Tax Paid Receipt
  • Possession Certificate

Check the Detailed List of Home Loan Documents

Indiabulls Home Loan Schemes

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1. Indiabulls Home Loans

Buying a home is extremely expensive. Indiabulls offers Home Loans at attractive interest rates to help customers own a house.

Features & Benefits

• Interest rates starting from 8.65% p.a.
• Zero prepayment charges
• Flexible loan tenure up to 30 years
• Maximum loan to value
• Simple documentation process
• 10,000+ pre-approved projects
• 4 lakh+ properties to choose from with Indiabulls Home Finder

2. Indiabulls Home Extension Loans

Indiabulls Home Extension Loan is for customers who need to extend their house to make more space for some reason.

Features & Benefits

• Attractive interest rates
• Zero prepayment charges
• Flexible loan tenure
• Maximum loan to value ratio
• Simple documentation process

Read Also: Home Extension Loan

3. Indiabulls Home Renovation Loans

Indiabulls Home Renovation Loan helps customers renovate their homes as per their taste and comfort without stretching their monthly budgets.

Features & Benefits

• Attractive interest rates
• Zero prepayment charges
• Flexible loan tenure extending up to 15 years
• Maximum loan to value
• Simple documentation process

Read Also: Home Renovation Loan

4. Indiabulls Rural Home Loans

Indiabulls Rural Home Loans is an affordable housing loan scheme for all rural and semi-urban residents of India.

Features & Benefits

• Attractive interest rates
• Zero prepayment charges
• Multiple loan repayment options
• Flexible loan tenure

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5. Indiabulls NRI Home Loans

Indiabulls Home Loans for NRIs is for all Non Resident Indians (NRIs) who want to buy a house in India. The lending institution not only offers loans to its customers but also helps them select a suitable property with the help of Indiabulls Home Finder. Indiabulls has offices in Dubai and London along with a widespread network of over 220 branches across India.

Features & Benefits

• Attractive interest rates
• Zero prepayment charges
• Loan tenure up to 15 years
• Maximum loan to value
• Simple documentation process
• Over 4 lakh properties to choose from with the help of Indiabulls Home Finder

Read Also: NRI Home Loan

6. Indiabulls PMAY CLSS

Pradhan Mantri Awas Yojana (PMAY) is a government scheme launched to provide housing to all urban and rural poor across India. Under the scheme, the government offers interest subsidy of up to Rs. 2.67 lakh on home loans availed for buying, constructing, extending or renovating homes. Indiabulls Housing Finance Limited extends the affordable housing benefits of Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS). Click to learn more about PM Awas Yojana.

How to Apply for Indiabulls Home Loan

Customers can apply for Indiabulls Home Loan by visiting the nearest Indiabulls Housing Finance branch. An alternative way to apply for the loan is their website. Before applying for the home loan, make sure to check your credit score and home loan eligibility to avoid unnecessary loan rejection. You can also jointly apply to improve the loan eligibility.

Check Also: Home Loan Process

Indiabulls Home Loan Customer Care

To get home loan related queries answered, customers can contact Indiabulls Home Loan Customer Care through the following ways:

Indiabulls Home Loan FAQs

For which purpose does Indiabulls Housing Finance offers home loans?

Indiabulls Housing Finance Ltd. offers housing loans for:

• Purchasing a new house
• Buying  a residential plot for constructing a house
• Extending or renovating an existing house
• Transferring existing home loans availed from other banks or financial institutions

What is the current Indiabulls home loan interest rate?

The latest Indiabulls home loan interest rate is 8.65% p.a.

What are the types of home loan interest rates offered by Indiabulls Housing Finance?

Indiabulls Housing Finance offers home loans at both floating rate of interest or fixed rate of interest depending on the applicant’s choice.

Who all are eligible to apply for Indiabulls Home Loans?

Resident Indians and NRIs who are either Self Employed or Salaried and at least 21 years old can apply for Indiabulls home loans.

Who can be co-applicants for Indiabulls home loans?

Along with the applicant, his/her spouse or any immediate family members who are blood relatives can act as co-applicants for Indiabulls home loan. Moreover, if house property is to be co-owned by more than one individual, all the co-owners would have to act as co-applicants for the home loan.

What is the maximum term that I can avail for Indiabulls Home Loans?

The repayment period or loan tenure of Indiabulls home loans extend up to 30 years, till the age of 65 years or till the age of retirement, whichever comes earlier.

Is any security or collateral needed to get Indiabulls home loan? 

Yes, Indiabulls housing loan is a secured loan and thus, comes with security requirements. Any immovable property owned by the applicant would act as the security. The applicant’s title to the property should be free, clear, marketable and unambiguous. The lender’s security created on the property should be first and also exclusive. The security would be created by depositing the original title documents of the property to the lender.

What is the Indiabulls home loan disbursement process?

Indiabulls home loan disbursement process depends on the nature of the transaction. For example, in case of a resale, the loan disbursal is made favouring the seller. In case of a self-construction, the loan will be disbursed depending on the stage of construction favouring the borrower. In case of a balance transfer, the disbursal is made favouring the existing financers.

How can I check my Indiabulls Housing Loan status online and offline?

Indiabulls home loan customers can check their home loan status online by:

• Contacting Indiabulls Customer Service at 1800 200 7777 toll-free number
• Using Indiabulls Home Loan App. Indiabulls Home Loan App is available on Google Play and App Store
• Visiting Your Nearest Indiabulls Housing Finance branch. Click to locate the nearest Indiabulls Housing Finance branch

What is the concept of Pre–EMI under the Indiabulls home loan?

The loan amount under Indiabulls home loans, availed for the purpose of house construction or for under-construction properties, is disbursed in portions. The Indiabulls Housing Finance home loan EMI starts after the final disbursement of the loan portions. However, before the final disbursal is made and after the first disbursal is made, the applicant is required to pay the Indiabulls home loans interest rate on the amount of loan actually disbursed. This payment of the interest is called a Pre-EMI.

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Indiabulls Home Loan Rates Hiked by 20 Basis Points

As on August 4, 2018, Indiabulls Housing Finance has increased 20 basis points in the interest rates for home loans. Post this revision, the home loan interest rates worth up to Rs 35 lakhs will be from 8.70% onwards. Indiabulls Housing Finance said, “The revised rate of interest on new home loans for women applicants/co-applicants will now start at 8.70 per cent for loans of up to Rs 35 lakh and 8.80 per cent onwards for loans above Rs 35 lakh.

Indiabulls Housing Finance Increase Home Loan Interest Rates by 20 bps

Indiabulls Housing Finance Ltd. has increased the home loan interest rate by 20 bps or by 0.20%. The revised home loan rates for women co-applicant will be 8.80% for loans up to Rs. 35 lakhs and 8.95% onwards for above Rs. 35 lakhs. Recently, Indiabulls Housing Finance increased the lowest slab from Rs. 30 lakhs to Rs. 35 lakhs. Indiabulls Housing Finance has already received the rating of ‘AAA’ from all four leading rating agencies. As per IBHFL “The increase in lending rates reflects the rise in the cost of funds,”. Revised interest rates will be effective from Tuesday, 9th Oct 2018 onwards.