Indiabulls Home Loan


Indiabulls Housing Finance Limited provides home loans at a starting interest rate of 8.75% per annum. You can borrow up to 90% of your property's value, with repayment periods of up to 30 years. If you already have a home loan from another bank or housing finance company, you can transfer it to Indiabulls. They also offer a special home loan scheme for people living in rural and semi-urban areas to help them buy affordable

Indiabulls Home Loan Highlights
Interest Rate 8.75% p.a. onwards
Processing Fees 0.50% onwards
Loan Tenure Up to 15 years

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
Types of Home Loan offered by Indiabulls
Processing Fees & Charges
Eligibility Criteria
Documents Required
EMI Calculator
FAQs

Compare Home Loan Interest Rate Offered by Various Top Banks & HFCs

Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh  
SBI Bank 8.40% - 10.15% p.a. 8.40% - 10.05% p.a. 8.40% - 10.05% p.a. Apply Now
HDFC Bank Limited 8.40% p.a. onwards 8.40% p.a. onwards 8.40% p.a. onwards Apply Now
Kotak Mahindra Bank 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
ICICI Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Federal Bank 8.80% p.a. onwards 8.80% p.a. onwards 8.80% p.a. onwards Apply Now
L&T Finance Limited 8.60% p.a. onwards 8.60% p.a. onwards 8.60% p.a. onwards Apply Now
Bajaj Housing Finance 8.50% p.a. onwards 8.50% p.a. onwards 8.50% p.a. onwards Apply Now
LIC Housing Finance 8.35% - 10.35% p.a. 8.35% - 10.55% p.a. 8.35% - 10.75% p.a. Apply Now
PNB Housing Finance 8.50% - 14.50% p.a. 8.50% - 14.50% p.a. 8.50% - 11.45% p.a. Apply Now
Punjab National Bank 8.45% - 10.25% p.a. 8.40% - 10.15% p.a. 8.40% - 10.15% p.a. Apply Now
Bank of Baroda 8.40% - 10.65% p.a. 8.40% - 10.65% p.a. 8.40% - 10.90% p.a. Apply Now
IDFC First Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Tata Capital Housing Finance 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
Axis Bank 8.70% - 13.30% p.a 8.70% - 13.30% p.a 8.70% - 9.10% p.a. Apply Now
Godrej Housing Finance 8.55% p.a. onwards 8.55% p.a. onwards 8.55% p.a. onwards Apply Now

Also read: Best Home Loan in India

 

Indiabulls Home Loan Interest Rates

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

Types of Indiabulls Home Loan

Home Loan Balance Transfer

  • Purpose: Home loan balance transfer lets you move your existing home loan from other banks or housing finance companies to Indiabulls, where you can enjoy lower interest rates.

Instant Home Loans

  • Purpose: This is a special home loan scheme designed to meet the specific needs of home loan applicants.

Home Loan for NRIs

  • Purpose: NRI applicants can obtain loans for buying or constructing residential properties.
  • Tenure: Up to 15 years

Top-up Home Loan

  • Purpose: A home loan top-up scheme provides additional loans on an existing home loan during its tenure.

Pradhan Mantri Awas Yojna

  • Purpose: To benefit from the Credit Linked Subsidy Scheme, introduced by the Central Government to fulfill the objective of "Housing for All" for Economically Weaker Sections, MIG-I, and MIG-II, you can apply for subsidies for purchasing, constructing, extending, or improving homes.

Rural Home Loan

  • Purpose: These are affordable home loans specifically designed for people living in rural or semi-urban areas.

Home Renovation Loan

  • Purpose: Customers can access a home renovation loan to renovate their existing homes according to their preferences, aspirations, and style.
  • Tenure: Up to 15 years

Home Extension Loan

  • Purpose: Home extension loans are provided for expanding or adding to your current home property.

Also Read : Best Home Loan EMI Calculator

 

Indiabulls Home Loan Processing Fees & Charges

Particulars Applicable Charges
Processing fees 0.50% onwards
Late Payment Charges 24% p.a. on outstanding EMI
Cheque/NACH Dishonour Charges Rs 500 (home loan)
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
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

Also read: Best Home Loan Fees and Charges

Indiabulls Home Loan Eligibility

To be eligible for an Indiabulls home loan, the applicant must meet the following criteria:

  • Age: The applicant should be at least 21 years old at the time of loan application and should not exceed 65 years at the time of loan maturity.
  • Employment: The applicant should be either salaried or self-employed.
  • Co-applicant: The spouse of the applicant can apply as a co-applicant for the home loan.
  • Nationality: NRIs from Dubai and the UK are eligible to apply for Indiabulls home loans.

Indiabulls considers factors such as credit score and monthly income while assessing the eligibility of applicants for home loans.

Also Read : Best Home Loan Eligibility

Documents Required for Indiabulls Housing Loan

To apply for Indiabulls Home Loans, you'll typically need the following documents:

  • Completely filled application form with photographs attached and signatures of all applicants.
  • Identification proof, birth proof, age proof, address proof, and signature proof.
  • Processing fee cheque.
  • Documents related to the property purchase or construction, such as sale deed or sale agreement, allotment letter, and a No Objection Certificate (NOC) from the society or builder.

Income Documents required for different applicant categories are as follows:

For Salaried Individuals:

  • Salary slips for the last 3 months
  • Form 16
  • Income Tax Returns (ITR)
  • Statement of bank account

For Self-Employed Individuals:

  • Income Tax Returns (ITR) for the last 2 years along with financial statements
  • Bank statement for the last 6 months
  • Qualification proof
  • Gumasta license (for business registration)

For BSF (Border Security Force) Customers:

  • Last 3 months' salary slips
  • Form 16 for the last 2 years
  • Confirmation certificate or service certificate for the benefit of the scheme

For Merchant Navy/NRI Applicants:

  • Rent agreement with a utility bill (up to 3 months old) if staying on rent
  • Passport
  • Salary slips for the last 6 months
  • Contract copy for the last 3 years (for Merchant Navy)
  • Form 16 for the last 2 years with income computation
  • Continuous Discharge Certificate (for Merchant Navy)
  • Bank statement for 1 year for NRE/NRO account (for NRI)

Also Read : Best Home Loan Documents Required

Frequently Asked Questions

Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.

The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.

To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need

You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.

Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.

Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.