Indiabulls

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 8.50% p.a. to 11% p.a.

Eligibility Criteria

  • Minimum 23 years of age and maximum 65 years
  • Loan period from 3 years to 20 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Indiabulls

Indiabulls is the 2nd largest housing finance company which is in India. It is regulated by the National Housing Bank (NHB). Indiabulls offer Home loans at very competitive rates. If you take loan up to Rs 25 lakhs, then it provides very effective rates, Our employees are specially trained to guide the customer through different stages.

Your Eligibility depends on following


- You should be minimum 23 years old

You should be maximum 70 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum up to 30 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

SPECIAL OFFER (TILL JUNE 30, 2017)-VARIABLE RATE

Sno

Loan Amount

Variable Rates%

1

Up to and including Rs 30 lacs

8.35% to 9.75%

2

More than Rs 30 Lacs and up to Rs 75 lacs

8.50% to 9.75%

3

More than Rs 75 Lacs and up to Rs 300 lacs

8.70% to 10.75%

4

More than Rs 300 Lacs

8.80% to 11.75%

This is a limited period offer. The Mentioned ROI is applicable for those who apply for home loan on or before June 30, 2017.

Home loans Variable Rate

Sno

Loan Amount

Variable Rates%

1

Up to and including Rs 75 lacs

8.65% to 9.75%

2

More than Rs 75 Lacs and up to Rs 300 lacs

8.70% to 10.75%

3

More than Rs 300 Lacs and up to Rs 500 lacs

8.80% to 11.25%

4

More than Rs 500 lacs

10.00% to 11.75%

Home loans Fixed & Floating

Sno

Loan Amount

Fixed Rate Tenure

Rates%

1

Up to and including Rs 300 lacs

 

Up to 3 Years

9.75% to 12.00%

2

More than Rs 300 lacs

10.50% to 12.25%

After the completion of Fixed Rate Tenure, the rate of interest applicable on loan will be the prevailing Variable Rate of Interest basis the Margin adjusted to Reference Rates at the time of loan agreement execution.

Existing Loan take over or New Loan

Home loan comes with a two advantages first is tax benefits and second is rent saving. These both elements contribute towards the EMI outflow. Indiabulls ensure that their customers get maximum benefits through their home loans.

The main features of this transfer scheme are:

  • Online management of Loan account
  • Facility for funding for builder’s under construction and ready properties
  • Quick processing and disbursal of loans
  • Experienced staff to provide doorstep services
  • Funding available for NRI customers
  • Approval of loan even if property is yet to be selected

Features of Loan

The following attention grabbing features and customer centric benefits make home loans from Indiabulls, an attractive proposition for any serious seeker of home loans in India,

  1. The maximum offered tenure for repayment of loan is 20 years.
  2. Instant loan application and approval on the corporate portal.
  3. The maximum loan on offer is 80% of the overall cost of the property. This rule applies for loan amounts Exceeding Rs.20 lakhs. For loans up to Rs.20 lakhs, the maximum loan offer is 85%.
  1. Flexibility to apply for the loan either individually or jointly. Co-applicants need not be co-owners.
  2. Very attractive and competitive rate of interest.
  3. Hassle free application process with quick turnaround time.
  4. Customer centric approach, immensely flexible and robust support.
  5. Save tax per Section 24 and Section 80C of the Income Tax Act.

Documents Required for applying Home Loan with Indiabulls

  1. Signed application form with photograph
  2. Pan Card for all applicant and co applicants
  3. ID proof and residence proof for all applicant and co applicant
  4. ITRs with computation for latest 3 years
  5. Copies of Sanction letter/ Statement of account of all existing loans
  6. Other Documents required for Salaried person
    1. Salary Slip for last 6 months
    2. Bank Statement for last 6 Months
    3. Form 16 for last 2 years
    4. Relationship proof with co applicant
  7. Other Documents required for Self Employed – Proprietorship
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Business registration certificate
    4. Office address proof
    5. Bank Statement for last 12 months
    6. Relationship proof with co applicant
  8. Other Documents required for Self Employed – Partnership Firm
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Partnership deed
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  9. Other Documents required for Company
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. MOA/AOA/COI
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  10. Additional Documents required for Balance Transfer case
    1. Statement of account of existing loan
    2. List of Documents given to existing bank
    3. Foreclosure letter
  11. Property papers
    1. Complete chain of property papers along with sanctioned plan