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 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
| 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 |
Also read: Best Loan Against Property EMI Calculator
| 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. |
Indiabulls Housing Finance offers Loan Against Property to various entities, including:
Also read: Best Loan Against Property Eligibility
Here's a list of documents required for applying for a loan against property:
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
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.