हिंदी में पढ़े
Please Note: Indiabulls Housing Finance is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
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Indiabulls Home Loan Highlights |
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| Interest Rate | 8.75% p.a. onwards |
| Loan Tenure | Up to 15 years |
| Processing Fees | 0.50% onwards |
Note: Rates as of 28th September 2023
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Table of Contents
Indiabulls Home Loan Interest Rates
| Loan Products | Interest Rate (p.a.) |
| Regular Home Loans | 8.75% onwards |
| Home Loan Balance Transfer | 8.75% onwards |
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Compare Home Loan Interest Rates for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.40% - 10.15% | 8.40% - 10.05% | 8.40% - 10.05% |
| HDFC Bank Limited | 8.50% onwards | 8.50% onwards | 8.50% onwards |
| LIC Housing Finance | 8.50% – 10.35% | 8.50% – 10.55% | 8.50% – 10.75% |
| ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
| Kotak Mahindra Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| PNB Housing Finance | 8.50% - 14.50% | 8.50% - 11.45% | 8.50%-11.45% |
| Punjab National Bank | 8.55%-10.25% | 8.50%-10.15% | 8.50%-10.15% |
| Bank of Baroda | 8.40% - 10.65% | 8.40% - 10.65% | 8.40% - 10.90% |
| Union Bank of India | 8.35% – 10.80% | 8.35% – 10.95% | 8.35% – 10.95% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Finance Limited | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Bajaj Housing Finance | 8.45% onwards | 8.45% onwards | 8.45% onwards |
| Tata Capital Housing Finance | 8.70% onwards | 8.70% onwards | 8.70% onwards |
| Federal Bank | 8.80% onwards | 8.80% onwards | 8.80% onwards |
Also know the home loan interest rates offered by different lenders
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Indiabulls Home Loan Processing Fees & Charges
| Processing Fee | 0.50% onwards |
| Cheque/NACH Dishonour Charges | Rs 500 (home loan) |
| Late Payment Charges | 24% p.a. on outstanding EMI |
| PDC/ECS Swapping Charges | NIL |
| Charges for account statement/amortization schedule | Rs 200 |
| Registration Charges for borrower’s ECS mandate | NIL |
| Income tax certificate in home loans | NIL |
| ROI Switch Fee Home Loan | 25% or onwards of the difference of two coupon rates, i.e., between existing and revised imterest rates |
| Database admin fee | Rs 650 |
| Compliant handling charges | NIL |
Also Read: Processing Fee for Home Loans charged by various lenders
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Types of Indiabulls Home Loan
Home Loan Balance Transfer
Purpose: Home loan balance transfer facilitates transfer of existing home loan from other banks and HFCs to Indiabulls at lower interest rates
Instant Home Loans
Purpose: This is a special home loan scheme offered to home loan applicants tailored to suit their needs
Rural Home Loan
Purpose: Affordable home loans for rural/semi-urban areas
Home Renovation Loan
Purpose: Consumers can avail home renovation loan for renovating the existing home as per their own comfort, aspirations and taste
Tenure: Up to 15 years
Home Extension Loan
Purpose: Home extension loans are offered for making extension to already existing home property
Home Loan for NRIs
Purpose: For purchase and construction of residential property by NRI applicants
Tenure: Up to 15 years
Top-up Home Loan
Purpose: Home loan top-up scheme are additional loans offered on existing home loan during the loan tenure
Pradhan Mantri Awas Yojna
Purpose: To avail Credit Linked Subsidy Scheme introduced by the Central Government to provide “Housing for All” for Economically Weaker Sections, MIG-I and MIG-II for purchase/construction/extension/improvement of homes
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Indiabulls Home Loan Eligibility
- The applicant should be 21 years old at the time of loan application and 65 years old at the time of loan maturity
- He/she should be salaried/self-employed
- The spouse of the applicant can apply as a co-applicant to the home loan
- NRIs from Dubai and UK can apply for Indiabulls home loans.
Indiabulls may also consider the credit score and monthly income of its applicants while evaluating Indiabulls home loan eligibility.
Also know about the home loan eligibility set by top home loan lenders.
Documents Required for Indiabulls Housing Loan
The common set of documents required to apply for Indiabulls Home Loans are:
- Completely filled application form with photograph attached and signatures of the applicants
- ID proof, birth proof, age proof, address proof and signature proof
- Processing fee cheque
- Sale deed or sale agreement, allotment letter, NOC from the society or builder
- Income Documents:
For Salaried: Salary slips for last 3 months, Form 16, ITR and statement of bank account
For Self-Employed: ITR for 2 years with financial statements, bank statement for last 6 months, qualification proof and Gumasta license
For BSF Customer: Last 3 months salary slip, Form 16 for last 2 years and confirmation certificate/service certificate for benefit of this scheme
For Merchant Navy/NRI: Rent agreement with utility bill up to 3 months old if staying on rent, passport, salary slip for last 6 months, contract copy for last 3 years, Form 16 for last 2 years with income computation, Continuous Discharge Certificate, Bank statement for 1 year for NRE/NRO account
Also know about the home loan documents required
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Indiabulls Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
1. Who can be the co-applicant for home loan?
Ans. Indiabulls Housing Finance allows the spouse or other immediate family members of a home loan applicants to be his/her co-applicant. However, the co-owner(s) of the underlying home property has to be the co-applicant for the home loan.
2. Can I make prepayments on my home loans?
Ans. Yes, Indiabulls allows its home loan borrowers to prepay their home loans. It doesn’t charge any fees on prepayment of floating rate home loans.
3. What factors determine the interest rates of Indiabulls home loan applicants?
Ans. Indiabulls Housing Finance sets interest rates for its home loan applicants based on their credit profile, loan amount, tenure, property type and other risk parameters.
4. Are there any concessions offered to women applicants on home loan interest rates?
Ans. Yes, Indiabulls Housing Finance claims to offer concession in home loan interest rates to its women applicants. However, the HFC has not disclosed the exact concession on interest rates offered to women applicants.
5. What is the minimum credit score required to avail home loans from Indiabulls Housing Finance?
Ans. Indiabulls Housing Finance has not specified the cut-off credit score for home loan applicants. However, applicants with credit scores of 750 and above usually have higher chances of availing home loans at lower interest rates.
Also Know:- More about Credit Score based Interest Rates of Home Loan
6. What are the various repayment modes offered by Indiabulls Housing Finance?
Ans.. Indiabulls Housing Finance allows its home loan borrowers to make repayments or prepayments through any of the following payment modes — cheque/drafts, RTGS transfer, NEFT transfer, Post Dated Cheque, fund transfer and cash.
7. Can I increase my home loan tenure to reduce my EMI?
Ans. Indiabulls Housing Finance Limited has not disclosed whether it provides the facility of tenure increase to its existing home loan borrowers for reducing their EMIs. However, many lenders allow their existing home loan borrowers to increase their loan tenure in case of financial crisis. Note that request for increase in loan tenure results in reduction of credit score. This is because request for loan tenure increase is considered as loan restructuring, which is considered to be a negative credit event by the credit bureaus. This reduces the credit scores of the borrowers, which in turn adversely impacts their future loans and credit card eligibility.
Existing home loan borrowers should instead opt for Home Loan Balance Transfer facility to transfer their existing home loans to other lenders at lower interest rates, thereby, reducing their home loan EMIs. Additionally, they can opt for longer tenures while transferring their home loans to reduce their EMIs, provided they do not exceed the maximum age set by the new lender at the time of loan maturity.