Indiabulls Home Loan Interest Rates
Home Loan Bank Information
Indiabulls Home loans Interest Rate
India Bulls Housing Finance is a flagship housing finance company which is supervised by the National Housing Bank. The India Bulls Company (IBHFL) has achieved the prestigious ‘AA’ rating awarded by leading rating agencies such as ICRA and CRISIL.
Salient points about India bulls Home Loans
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- The balance sheet of the company has reached the Rs 0.96 Trillion mark as in 30th September 2020.
- The company has a strong customer base of more than 1 million with a loan portfolio exceeding Rs 2.7 trillion.
- India Bulls Home Loans are viewed as India’s first online home loan platforms which completely fulfils the housing needs of consumers
- The ultimate goals of IBHL are to offer an exciting home buying experience. Bank loans are important to buy affordable housing. IBHL is committed to increasing the convenience of the customers during online home loan application.
- The main aim of IBHL is to offer an all-inclusive home purchase experience. The home loan experience of IBHFL is made technically convenient so that customers can complete online loan application within the comfort of their home.
Different types of home loans can be availed depending on the requirements of the consumers. India Home loan Interest rates are the best in the market and can be availed for constructing a new house or in purchasing an existing flat or house.
General Overview
|
Rate of Interest |
From the upwards of 8.99 % |
|---|---|
|
Amount of Loan |
Up to a maximum of Rs 5 crore |
|
Processing Fee |
Rs 10000 for loans upto Rs 30 Lack 0.5 per cent of the total loan amount in case of loan between Rs 30 Lakh and Rs 3 Crore 1 per cent of the total loan amount in case of loans above Rs 3 crore |
|
Maximum Limit of Tenure |
30 years |
|
Available Rate Packages |
Both Fixed and Floating |
Key highlights of the Indian Bulls Home Loan Interest Rate Schemes
There are many home loan variants that cater to the individual residential requirements of the consumers. Here is a list of the outstanding features of the India Bulls Home Loans:
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- The end to end home loan processing systems completely takes place on online cannels- The First of its kinds of achievement in India.
- India Bulls Home Loan Interest Rate Schemes have zero prepayment charges thus relieving the financial burden of home owners and ensuing transparency in customer transactions
- There are a plethora of preapproved projects to select from- nearly 10000 projected are up for grabs in India Bulls Home Loans scheme
- The online housing loan applications are processed in record time through both website and mobile app channels.
- The loan tenure in India Bulls Home Loan Interest Rate Schemes is flexible depending on the income levels of the individual customers.
- The India Bulls Home Loan Finer functionality that is present on the official website enables prospective home owners to choose from more than 4 lakh listed properties. This presents a wide range of choice to India Bulls Home Loan customers and helps them to make the right choice to satisfy their residential needs.
About Indiabulls Home Loan Interest Rates
Affordability is the central characteristics of Indian Bulls Home Loan Interest rate. The home loans are given in the interest bracket of 8.80 % to 12 % depending on the risk profile and credit history of the borrower. The IBHL reserves the right to apply differentiated rates of interest to it consumers, depending on its internal lending policies. The Indian Bulls Home Loan Interest rates depend on the following parameters:
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- Variant of Property- Resale value, Income levels of the locality
- Amount of the Loan- The quantum of loan depend on the borrowers income levels and stability of employment
- Tenure of Loan-Generally India Bulls Home Loans offer extended tenures
Applicant profile
As per market estimates, The India Bulls Home Loan Interest rates for majority of customers lie in the interest bracket of 9.25% to 9.99%. Special discounted offers are given to women who avail home loans from India Bulls. The interest rate for home loans in Indian Bulls goes to as low as 9.25%.
|
Amount of Loan |
Tenure |
Rates of Interest |
Online payment |
|---|---|---|---|
|
Up to a maximum amount of Rs 75 Lakhs |
Up to a maximum of 2 years |
9.25-10.30% |
Yes |
|
Between the figures of Rs 75 Lakhs and Rs 3 Crores |
Up to a maximum of 2 years |
9.35-11.05% |
Yes |
|
Greater than Rs 3 Crore |
Up to a maximum of 2 years |
9.40 -11.20% |
Yes |
Indiabulls Home Loan Eligibility parameters
Diverse factors are taken into account before the home loan is approved. The various factors are:
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- Age
- Loan Tenure
- Income on a monthly basis
- Property Value
- Debt to Income calculations
Eligibility requirements
|
Minimum years of work experience required |
2 years |
|---|---|
|
Stability period for Business people or self-employed category |
3 years |
|
Requirement of Minimum income |
Rs 15000 and above |
Salaried Applicants
|
Range of Age |
From 23 years to 60 years |
|---|---|
|
The maximum loan amount that can be granted |
Rs 5 Crore |
|
PLR linked Interest Rates |
8.35-9.05% |
Self-employed applicants
|
Range of Age |
23-65 years |
|---|---|
|
The maximum loan amount that can be granted |
Maximum of Rs 5 crores |
|
PLR linked Interest Rates |
8.35 to 9.10 % on a annual basis |
FAQs
How income eligibility of India Bulls Home Loan calculated?
The net monthly income of the individuals plays a deciding role in sanction of the India Bulls Home Loan. For a net income of Rs 25,000 the maximum loan amount can go up to Rs 75 Lakh.
How is the loan eligibility decided based on Property value?
Loan to Value ratio indicates the maximum amount out of the total asset cost that can be given as a loan to the borrower. For a property value of 30 lakhs, the LTV value is fixed at 90 per cent, which means that the borrower is eligible up to 90 per cent of the asset value.
Can EMI payments to India Bulls Home Loans can be done online?
Yes. India Bulls Home Loan Schemes offers online channels for meeting the repayment obligations through debit cards and net banking
When will the India Bulls Home Loan account reflect the part payments that are made by the customer?
Four working days is the maximum period by which the part payment will be reflected in our home loan account.