Indiabulls Loan Against Property

Indiabulls Housing Finance provides Loan Against Property to both individuals and non-individuals, including MSMEs, with interest rates starting from 9.75% p.a. and repayment tenures of up to 15 years. The company promises swift approval and disbursement of loan against property. Additionally, it offers preferential interest rates to female applicants for LAP.

Indiabulls Loan Against Property Highlights
Interest Rate	9.75% p.a. onwards
Processing Fees	1% onwards
Repayment tenure	The repayment tenure for Indiabulls Housing Finance Loan Against Property can be up to 15 years, with the condition that it should not extend beyond 65 years of age or the retirement age, whichever comes earlier.
Loan Amount	The loan amount for Indiabulls Housing Finance Loan Against Property is determined based on the customer's profile, their repayment capacity, and the Loan to Value (LTV) ratio set for them.

Indiabulls Loan Against Property Interest Rates

Indiabulls Housing Finance offers loans against property starting from 9.75% p.a., extending to MSMEs as part of priority sector lending. However, the final interest rates may vary based on factors such as credit score, monthly income, job profile, and employer’s profile of the applicant.

Also read: Best Loan Against Property Interest Rate

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

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.00 - 11.30	Apply Now
Axis Bank	10.50 - 10.95	Apply Now
Bank of Baroda	10.85 - 16.50	Apply Now
ICICI Bank	10.85 - 12.50	Apply Now
Standard Chartered Bank	Starts from 9.25%	Apply Now
HSBC Bank	9.75 - 14.00	Apply Now
Union Bank of India	10.45% - 13.10% p.a.	Apply Now
PNB Housing Finance	9.25 - 15.00	Apply Now
IDFC First Bank	9.00 - 16.50	Apply Now
HDFC Bank Limited	9.50 - 11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50 - 11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
Indiabulls Finance	9.75% p.a. onwards	Apply Now
Tata Capital	10.10 onwards	Apply Now
Bajaj Housing Finance	9.75 - 18.00	Apply Now
Punjab National Bank	10.40 - 12.75	Apply Now

Features of Indiabulls Loan Against Property:

Purpose: Indiabulls loan against property serves various financial goals and requirements, accepting both residential and commercial properties as collateral.
Prepayment Charges: Charges are levied on outstanding loan amounts and can be done only after six months of taking the loan.
Processing Fee: A processing fee of 1% of the loan amount is charged, and all fees are communicated upfront.
Overdraft Facility: Borrowers can avail an overdraft facility against their property, allowing them to use the loan amount up to an approved limit and pay interest only on the amount utilized.
Loan Amount: Borrowers can receive up to 70% of the property value at attractive interest rates.
Repayment Options: Customers can choose between low EMIs with longer tenure or opt for an overdraft facility.
Loan Processing: There are no hidden charges, and all fees are communicated upfront, ensuring transparency.
Customized Loan: Self-employed professionals can customize their loans according to their needs, facilitating easier repayment and business management.

Also read: Best Loan Against Property EMI Calculator

Indiabulls Loan Against Property Fees and Charges

Particulars	Charges
Processing Fee	1% onwards
PDC/ECS Swapping charges	NIL
Charges for statement of account/amortization schedule	Rs 200
Cheque/NACH dishonor charges	Rs. 750/- Nil on representation of ECS/ PDC
Late payment charges	24% p.a. of outstanding EMI
ROI switch fee	50% or onwards of the difference of the two coupon rates i.e. between the existing and revised rate
Floating rate for individuals	For prepayments not related to business purposes, there are no charges. However, for business-related prepayments, the fee is 5% of the prepaid amount for the first 2 years, and 3% thereafter. Additionally, prepayments up to 25% of the principal outstanding, made within the last 12 months, incur no charges.
Dual rate (Fixed for few years and then floating rates) for individuals	For loans with a floating interest rate, there are no prepayment charges. However, for loans with a fixed interest rate, the prepayment charge is 5% of the prepaid amount for the first 2 years from the loan disbursal date, and 3% thereafter.
Floating rate and Dual rate for non-individuals	For prepayments amounting to up to 25% of the principal outstanding, including all prepayments made within the previous 12 months, there are no charges. However, for prepayments exceeding this limit, there is a prepayment/foreclosure fee of 5% of the prepaid amount for the first 2 years, and 3% thereafter.

Eligibility Criteria of Indiabulls Loan Against Property

Indiabulls Housing Finance offers Loan Against Property to various entities, including:

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

Also read: Best Loan Against Property Eligibility

Documents Required for Indiabulls Loan Against Property

Here's a list of documents required for applying for a loan against property:

A duly filled and signed application form along with 2 passport size photographs
A cheque for processing fee
Property documents such as sale agreement, sale deed, allotment letter, and NOC from builder or society
KYC Documents including proof of name, date of birth, address, signature, and identity
Residence ownership proof which may include property documents, maintenance bills, and electricity bills
Income documents:
- For salaried individuals: salary slips, Form 16, and bank statements
- For self-employed individuals: income tax returns with financial statements and bank statements

The bank may request additional documents for a loan against property depending on the applicant's profile.

Also Read : Best Loan Against Property Documents Required

Frequently Asked Questions

You can either apply online, visit a nearby Indiabulls branch, or apply through the MybankingTips official website.

Yes, you will incur charges as per norms on the EMI amount as a penalty.

Yes, you have the option to avail an overdraft facility against your property as a term loan.

The interest rate for the loan ranges from 10.50% to 13%.

The processing fee for the loan is up to 1% of the loan amount, and all charges are communicated upfront.

You can receive a loan amount of up to 70% of the value of your property.

Yes, you can prepay your loan with Indiabulls. You'll need to submit a written request at the nearest branch. There might be a small fee for prepayment, which varies based on the loan amount and interest type.

Yes, you can make part-prepayments without incurring any charges on the floating interest type.

Yes, you can top up loans under the adjustable rate, which is linked to Indiabulls's retail prime lending rate.

Self-occupied residential properties and commercial properties such as shops and offices are accepted as collateral for the loan.