Indiabulls Home Loan

Best Banks For Home Loan Indiabulls

Indiabulls Home Loan Key Features

• Interest Rate: 6.90% onwards
• EMI / Lakh: Rs. 662
• Loan Tenure: Up to 30 years
• Loan Amount: Percentage based on property value
• Loan to Value Ratio: Up to 90% of property value
• Prepayment Charges: No prepayment charges for floating rates
• Part Payment Charges: Nil
• Guarantor Required: Nil

Indiabulls Home Loan Interest Rate

Indiabulls Home Loan Schemes	Interest Rate For Women	Interest Rate for Others
Indiabulls Home Loan	6.90% – 7.95%	7.00% – 8.00%
Indiabulls Reach Loan	8.75% – 14.00%	8.75% – 14.00%
Plot Loan	7.05% – 8.05%	7.10% – 8.10%
Rural Housing Loan	6.90% – 8.70%	7.00% – 8.70%
Home Improvement Loan	6.90% – 7.95%	7.00% – 8.00%
Home Extension Loan	6.90% – 7.95%	7.00% – 8.00%
Home Loan Top Up	As per home loan slabs	As per home loan slabs
Home Loan Balance Transfer	6.90% onwards	6.90% onwards

Please Note: The above rates and values are floating in nature and are based on adjustable rates. Therefore, these are subject to change at the time of loan disbursement.

---

Indiabulls Home Loan Eligibility Criteria 

Salaried Individual:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of  18 years to 65 years.
3. Must have working experience and a legitimate source of salary, i.e. working under the same employer for at least one year.

Self Employed Individual:

Applicants who are not professionally engaged in the working sector but have a source of steady income are also eligible for the Indiabulls Home Loan. This includes everybody who is a:

• Traders
• Commission agent
• Contractors

The following criteria must be met to apply for a home loan:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of  18 years to 65 years.

Self Employed Professionals:

Applicants who are professionally engaged in the working sector are also eligible for the Indiabulls Home Loan. This includes everybody who is

• Doctors
• Lawyers
• Charted Accountant
• Architect
• Consultant
• Engineer
• Company Secretary

The following criteria must be met to apply for a home loan:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of  18 years to  65 years.

Additional Criteria for Co-applicants:

• Co-applicant must be a family member of the primary applicant.
• All co-applicants are not required to be the co-owners of the Property.

Please find more information on Eligibility by visiting Dialabank.

Apply for Indiabulls Home Loan

Indiabulls Home Loan Documents Required

Salaried Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Latest Salary Slips from the last 3 months.
• Latest Form-16 and IT returns.
• Employment Contract/Appointment Letter if the current employment is less than a year old.

Property Related Documents:

• A cheque for processing fee favouring ‘Indiabulls.’
• Copy of the Buyer Agreement/Allotment Letter
• Receipt/(s) of payment/(s) made to the developer

Self Employed Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Business Profile and Previous 3 years Income Tax returns (Both self and business)
• Previous 3 years Profit/Loss Account and Balance Sheet.

Proof Of Business: 

• Educational Qualifications Certificates
• Business achievements (Certificate or awards if any)

Property Related Documents:

• A cheque for processing fee favouring ‘Indiabulls.’
• Copy of the Buyer Agreement or Allotment Letter 
• Receipt/(s) of payment/(s) made to the developer

Agriculturists:

KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Copies of title documents of agricultural Land showing crops being cultivated

Property Related Documents:

• A cheque for processing fee favouring ‘Indiabulls.’
• Copy of the Allotment Letter / Buyer Agreement
• Receipt/(s) of payment/(s) made to the developer

Additional requirements for Co-applicants:

Passport size photograph of all co-applicants to be affixed on the Application Form and signed across

Apply for Home Loan

Different Home Loan Schemes By Indiabulls                                        

Indiabulls Home Loan – For Resident Indians

This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.

Specific Information for Home Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.90% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	30 years

Indiabulls Home Loan for NRI/PIO – For NRIs and PIOs

This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:

• Purchase a flat, row house, bungalow in India from private developers in approved projects.
• Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
• Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
• Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.

Indiabulls Plot Loans – For Buying a New Plot

This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.

Specific Information for Plot Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 80% of the value of Property
Interest Rate	6.90% onwards (0.05% concession to women)
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Indiabulls Top Up Loans – For Indiabulls Home Loan Borrowers

This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.

Specific Information for Top-Up Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	New Customer – 6.90% onwards Existing Customer – As per Home Loan Slabs
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Indiabulls Home Extension Loans – For Adding Space in Your Home

This type of loan is specifically for those individuals who want to extend or add space to their home property.

Specific Information for Home Extension Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.90% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	20 years

Indiabulls Home Loan Balance Transfer – For All Home Loan Borrowers

Indiabulls Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.

Specific Information for Home Loan Balance Transfer Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to Rs. 50 Lakhs
Interest Rate	6.90% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	30 years

Indiabulls Home Loans under Pradhan Mantri Awas Yojana

This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).

Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme
Eligible Profiles	Available to EWS/LIG, MIG-I, and MIG -II
Loan Amount	No Cap
Interest Subsidy	3.00% onwards
Maximum Subsidy	Up to Rs. 2.67 Lakhs
Loan Tenure	20 years

Indiabulls Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month

This type of loan is for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.

Specific Information for Reach Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 80% of the value of Property
Interest Rate	6.90% onwards
Processing Fee	Up to 2% of the loan amount + GST
Loan Tenure	30 years

Indiabulls Rural Housing Loans – For Indians Living in Rural Areas

This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas. This loan is also eligible for individuals who are salaried or self-employed!

Specific Information for Rural Housing Loan Scheme
Eligible Profiles	Available to Salaried, Sef-employed Individuals and Agriculturists
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.90% onwards (0.05% concession to women)
Processing Fee	Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST
Loan Tenure	30 years

Indiabulls Home Improvement Loans – For Covering Home Renovation Costs

This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.

Specific Information for Home Improvement Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	New Customer – Up to 90% of the estimates from improvements. Existing Customer – Up to 100% of the estimates from improvements.
Interest Rate	6.90% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Advantages of Indiabulls Home Loan

Indiabulls Home Loan is a saviour to those who need financial support relating to homes and plots. It offers the following:

• A huge variety of home loan schemes.
• The most helpful Pradhan Mantri Awas Yojana is also available.
• Provide a 0.05% concession to women to encourage them for their homeownership.
• Provide several repayment methods to choose from and opt for the one best suited to you.
• Full transparency as Indiabulls promises no hidden costs and fees.
• Easy application with minimum documentation and paperwork.
• Provides loan approval before the selection of the Property.

Apply for Home Loan

Indiabulls Home Loan Charges and Fees

Particulars	Charges
Processing Fees	Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher
Prepayment charges	No prepayment charges for floating rates
Check dishonour charges	Up to Rs. 200
List of documents	Up to Rs. 500
Photocopy Of documents	Up to Rs. 500
PDC Swap	Up to Rs. 200
Disbursement cheque cancellation charges post disbursement.	Up to Rs. 200
Increase/Decrease in the loan term	Up to Rs. 500
Re-appraisal of loan post 6 months from sanction	Up to Rs. 2,000

Please Note: The above figures are only indicative and are subject to change without any prior notice.

---

How to apply for Indiabulls Home Loan

• Visit  Dialabank for a Home Loan.
• Go to the Indiabulls Home Loan page.
• Check out all the eligibility and documents criteria for a Home Loan.
• Fill out all the details required in the Indiabulls Home Loan application form.
• Once done, our representative will soon contact you for a further stress-free process.

Indiabulls Home Loan EMI Calculator

Loan EMI Calculator 

Apply for Home Loan

Indiabulls Home Loan Pre Calculated EMIs

TABLE WILL APPEAR

Other Loan Products from Indiabulls

Indiabulls Car Loan

Indiabulls Personal Loan

---

Indiabulls Home Loan FAQ

✅ How to repay my Indiabulls home loan?

There are different payment methods through which you can repay your Indiabulls home loan. This can be done:

• By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
• By opting for direct deduction of monthly instalments by your employer.
• By issuing post-dated cheques from your salary account.

✅ When can you apply for Indiabulls’s top-up loan?

A year after the disbursement of the existing loan amount and the possession or completion of the financed property.

✅ In the case of prepayment is made, is there any change in home loan Indiabulls EMI?

Indiabulls accepts a prepayment at nil charges in case of floating rate home loans. When a prepayment is made, the outstanding balance of the principal amount on your home loan gets reduced.

✅ What is the maximum loan amount from the home loan Indiabulls?

A customer can get the Indiabulls loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity, the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.

✅ What is a Floating Interest Rate in Indiabulls Home Loan?

Floating interest rates are different from the fixed rates. The rates are not the same throughout your Indiabulls Home Loan tenure.

✅ How can Dialabank help you get a Home Loan from Indiabulls?

Dialabank is a bridge to find the best option between Indiabulls and other Banks by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through if you choose to search and applying by own.

✅ How will the rate of interest change if the interest rate is linked to PLR?

Home Loan Interest Rate is linked to PLR, and any change in PLR will lead to a change in rates of interest on the home loan. Interest rates on home loan account will rise or fall with the Increase or Decrease of PLR proportionately.

✅ Who is a Co-obligate or Guarantor?

Co-obligate or guarantor is an individual who undertakes to repay the bank loan in case the principal borrower fails. The amount of his liability will be the same as that of the principal borrower, and the Bank can take strict actions against him for recovery along with the principal borrower. Guarantor can’t say that his liability will start only after the remedies against the principal borrower are exhausted.

✅ Is there an option for pre-closure of a loan account?

A pre-closure option is also available, and charges will be levied at rates as decided by the lender.

✅ Does missing an instalment effects CIBIL?

Non-payment of EMIs as per terms and conditions will adversely affect the credit rating of the borrower.

✅ Are there any penalty Charges?

Penalty charges of 2% will be levied on the instalment amount unpaid.

✅ How is the calculation of interest rates done?

Home loan Interest rates are charged on a daily balance method and are debited once a month in your loan account. A 2% penalty on the unpaid Installment amount will be charged.