HOME LOAN

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HOME LOAN

Home Loan  Housing Loan

Housing Loan is a stepping stone in realizing your dream home.IHFL offers wide variety of home loans which will fulfill your needs at one of the lowest interest rates available. Our home loans cater to all types of customer base viz., salaried, self-employed, professional, NRIs, etc. Our products are customizable according to your home loan eligibility

IHFL Home Loan Features

Online Home loan sanction facility

Quick sanction and low EMI

Simple documentation

Maximum Tenure of 30 years or attainment of 60 years whichever is earlier

Amongst the lowest rate of interest

No Pre-Payment penalty

Available for construction / purchase of house or flat from private developer or housing boards and repairs/renovation to the existing properties

Takeover or balance transfer of existing Home Loans possible

Types of Home Loan

Home Loan for Resident Indian

Home loans or housing loans are available for purchase of underconstruction or ready to move homes. Housing loans can also be availed for construction of own house. The following are eligible for Home Loan from IHFL:

All Salaried employees working in Private or Government/Public Organizations.

Self-employed individuals

The following individuals are also eligible under our Sure Home Loan:

 

Employees drawing part of salary in cash

Salaried employees seeking home loan term beyond retirement

For information on all eligible customers under Griha Suvidha Home Loan click here.

Home Loan for Non Resident Indian

Home loans are available for individuals working abroad but willing to own a home in India. To know more click here.

Pradhan Mantri Awas Yojana

A special Housing Loan scheme for First Time Home Buyers by the Government of India. All families having income of Rs 3 lakh to Rs 18 lakh are eligible under this scheme provided they plan to purchase or construct their first pucca house. For all details and benefits under the scheme click here. For list of statutory towns eligible under the scheme visit the official website of National Housing Bank.

Plot Loans

Loans are provided against purchase of residential plots for construction of home within period of 3 years. For more details on all Plot Loans provided by IHFL click here.

 

Home Improvement Loans

Home Improvement loans are available for existing as well as new customers. For details on Home Improvement loans click here.

Home Renovation Loans

Home Renovation loans are available for existing as well as new customers. For details on Home Renovation loans click here. 

Top Up Loan

Top Loan is additional loan over home loan provided to existing customers. To know more about top up loan click here. To know your eligibility and to apply click here.

 

Balance Transfer

Balance Transfer or Takeover of your existing home loan with other financial institute is also possible. To know about Balance Transfer to IHFL click here. To transfer your existing loan to  IHFL click here. 

Griha Varishtha - Home Loan for Pensioners

Home Loan is extended to individuals having pension benefit with loan tenure upto 80 years of age. Additional benefits are also offered to such borrowers on joint application with children. To know more click here.

 

Interest Rate on Home Loan

Rate of Interests (Floating - Linked to LHPLR) Current LHPLR – 5.70%

* 1)  In case of joints applicants, CIBIL score of applicant having highest score will be considered

   2)  For cases where CIBIL score is Zero or less and loan amount is more than Rs 50 Lakhs & up to Rs 15 Crs, the ROI applicable will be as per the CIBIL score less than 600 in the respective categories

Maximum Loan Amount and Repayment Period

Loan to Property Cost

90% of Property value for loan upto Rs.30 lakh

80% of Property value for loan more than Rs. 30 lakh and upto Rs.75 lakh

85% of Property value for loan above Rs.75 lakh

Maximum repayment period

For salaried upto 30 years

For self-employed upto 20 years

The above is subject to the repaying capacity and age of the applicant.

Calculator

Plan your Home Loan using our Calculator. Know the Home loan amount you are eligible for and the EMI against your loan.

Home Loan Documents

KYC documents:

Pan Card

Aadhaar Card

For NRIs, passport is required

Proof of residence

Income documents:

Salary slips and Form No.16 for salaried

Last 3 years income tax returns along with financials for self-employed or professionals

Bank statements for last 6 to15 months

Property Documents (incase property is identified):

Proof of ownership of property

In case of flats, allotment letter of builder/society

Up to date tax paid receipt

Disclaimer: All loans are sanctioned at the sole discretion of IHFL.

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