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
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.
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.
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 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.
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
For NRIs, passport is required
Proof of residence
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.