Indiabulls Housing Finance - 8.75% for Home Loan - New Purchase Home Loan

Sammaan Capital Limited (formerly known as Indiabulls Housing Finance Limited) Home Loan

Indiabulls Housing Finance Limited offers home loans starting at 8.75% p.a. for tenures up to 30 years and loan amounts of up to 90% of the property’s value.

It also offers home loan balance transfer facility to existing borrowers of other banks and HFCs.

Indiabulls Housing Finance offers a rural home loan scheme to provide affordable housing loans to rural and semi-urban residents.

Interest Rate	8.75% p.a. onwards
Loan Tenure	Up to 15 years
Processing Fees	0.50% for salaried and 1% for SENP  + Applicable taxes

 

Indiabulls Home Loan Interest Rates:

Loan Products	Interest Rate (p.a.)
Regular Home Loans	8.75% onwards
Home Loan Balance Transfer	8.75% onwards

 

Indiabulls Housing Finance Home Loan interest depends upon:

1. Loan amount:

Indiabulls Housing Finance Home Loan depends upon the loan amount you apply for Higher the loan amount, lesser will be the rate.       

 

2. Your Salary: 

Income helps you in identifying your rate of interest.

Bank's rate varies with your monthly income. Higher the income, lesser will be the rate.

 

3. Type of loan opted for: 

Indiabulls Housing Finance Home Loan offers differential rates for women borrowers. 

Also under their fixed and floating rate schemes.

The rate of interest may be higher or lower under their special or popular loan product offers.

 

4. Existing bank customers:  

Indiabulls Housing Finance Home Loan offers one of the lowest home loan rates to its existing bank account.

Customers in view of their past relationship with the bank.

 

Indiabulls Housing Finance Home Loan Processing Fee and Other Charges:

In addition to interest rates, home loan from Indiabulls Housing Finance Home Loan also carry some other charges which include:

 

1. Processing Fee:

Indiabulls Housing Finance Home Loan applies processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.

 

 2. Technical and Legal Charges:

Indiabulls Housing Finance Home Loan also charges technical and legal charges which are explained to the customer during the loan process.

Once you go through the loan application process, you will need to pay these charges based on Indiabulls Housing Finance Home Loan Bank rules.

 

 3. Prepayment Charges:

If you decide to foreclose or transfer your housing loan to another bank, you need to submit an application for the same to Indiabulls Housing Finance Home Loan.

As per RBI rules, banks are not allowed to charge prepayment penalty on floating rate home loans.

Hence, you can prepay your home loan with Indiabulls Housing Finance.

 

Indiabulls Housing Finance - Home Loan:

Apply:

If you want to get a housing loan from Indiabulls Housing Finance Home Loan, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI.

Your loan application will be processed online and Indiabulls Housing Finance Home Loan’s representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com personal housing loan advisor to ensure that all the lending process is smooth, quick and you get the best house loan from Indiabulls Housing Finance Home Loan.

You can also do a comparison of Indiabulls Housing Finance Home Loan Interest rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your home loan application in your customer account section of Apnarupee.com.

 

Indiabulls Housing Finance Home Loan Documents:

For Salaried employees:

1. Filled up the loan application form.

2. Passport Size Photo.

3. ITR of the last 2 years.

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months’ payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

For Self-Employed:

1. Filled up loan application form.

2. Two Passport Size Photo.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

5.Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA,

Copy of partnership deed and proof of business existence and business profile

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

 

Indiabulls Housing Finance Home Loan Schemes:

1. 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

 

2. Instant Home Loans

Purpose: 

This is a special home loan scheme offered to home loan applicants tailored to suit their needs

 

3. Rural Home Loan

Purpose: 

Affordable home loans for rural/semi-urban areas

 

4. 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

 

5. Home Extension Loan

Purpose: 

Home extension loans are offered for making extension to already existing home property

 

6. Home Loan for NRIs

Purpose:

For purchase and construction of residential property by NRI applicants.

Tenure: Up to 15 years

 

7. Top-up Home Loan

Purpose: 

Home loan top- up scheme are additional loans offered on existing home loan during the loan tenure.

 

8. 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

 

Frequently Asked Questions:

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.