Indiabulls Loan Against Property

Updated: 03-11-2023 07:22:13 AM

Indiabulls Loan Against Property Highlights 2023
Interest rates	9.75% p.a. onwards
Loan amount	Based on customer profile, his repayment capacity and the LTV ratio set for him
Repayment tenure	Up to 15 years (not extend beyond 65 years or retirement age, whichever is earlier)
Processing fee	1% onwards

Note: Interest rates as of 3 November 2023

Indiabulls Loan Against Property Interest Rates

Indiabulls Housing Finance offers loans against property at 9.75% p.a. onwards, in which MSMEs are eligible under priority sector lending. The final loan against property interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.60-11.30
Bank of Baroda	10.85-16.50
PNB Housing Finance	9.25-15.00
IDFC First Bank	9.00-16.50
HDFC Bank Limited	9.50-11.00
L&T Housing Finance	9.50 onwards
LIC Housing Finance	9.50-11.55
Godrej Housing Finance	9.75 onwards
ICICI Bank	10.85-12.50
Tata Capital	10.10 onwards
Bajaj Housing Finance	8.50-18.00
Axis Bank	10.50-10.95
Kotak Mahindra Bank	9.15 onwards

Indiabulls Loan Against Property Fees and Charges

Processing fee

Processing fee

1% onwards

Prepayment charges

Floating rate for individuals	For purposes other than business: NIL
	For business purpose:
	5% of the prepaid amount for initial 2 years from the date of loan disbursal and then, 3% afterwards
	For prepayments up to 25% of principal outstanding, including all prepayments made under previous 12 months: NIL
Dual rate (Fixed for few years and then floating rates) for individuals	For floating rate: NIL
	For fixed rate: 5% of the prepaid amount for initial 2 years from the date of loan disbursal and 3% afterwards
Floating rate and Dual rate for non-individuals	For pre-payments up to 25% of the principal outstanding, including all prepayments made under previous 12 months: NIL
	Prepayment/foreclosure fees of 5% of the prepaid amount for initial 2 years and 3% afterwards

Other fees and charges

Cheque/NACH dishonor charges	Rs. 750/- Nil on representation of ECS/ PDC
Late payment charges	24% p.a. of outstanding EMI
PDC/ECS Swapping charges	NIL
Charges for statement of account/amortization schedule	Rs 200
ROI switch fee	50% or onwards of the difference of the two coupon rates i.e. between the existing and revised rate

Eligibility Criteria of Indiabulls Loan Against Property

• Small and mid-sized businesses
• Partnership firms
• Self-employed professionals
• Private or closely held companies

Documents Required for Indiabulls Loan Against Property

• Completely filled and signed application form with 2 passport size photographs
• Processing fee cheque
• Property documents: sale agreement/sale of deed, allotment letter, NOC from builder/society
• KYC Documents: proof of name, date of birth, address, signature and identity
• Residence ownership proof: property documents, maintenance bills, electricity bill
• Income documents:
• For salaried-salary slips, Form 16 and bank statement
• For self-employed-income-tax returns with financial statements, bank statement

The bank may also ask for additional loan against property documents based on the applicant’s profile.