Indiabulls Home Loan Eligibility Calculator India Apr 2017

Indiabulls Home Loan Eligibility Criteria

Last Updated 17th Apr 2017
Eligibility Conditions SalariedSelf Employed
Age 21 to 65 years 21 to 65 years
Maximum Loan Amount Rs. 100,000,000 Rs. 100,000,000
Maximum LTV 90% 90%
Minimum Work Experience 2 Years 2 Years
Rate of Interest - linked to PLR 9.15% 9.15%
EMI Per Lakh Rs. 815 Rs. 815
Home Loan Eligibility Calculator
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Indiabulls home loan eligibility based on age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. To be eligible for Indiabulls home loan, you must be at least 21 years of age at the time of loan commencement. Indiabulls offers home loans for a maximum period of 30 subject to the condition that the borrower’s age at the end of the tenure must not exceed 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
  • Your current age Max tenure for salaried Max tenure for self employed
    25 years 30 years 30 years
    30 years 30 years 30 years
    35 years 30 years 30 years
    40 years 25 years 25 years
    45 years 20 years 20 years
    50 years 15 years 15 years

    Indiabulls home loan eligibility based on income

  • Net Income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your net monthly income is Rs 70,000 and the value of house you are buying is Rs. 50 lakh, then at 9.15 % interest rate offered by Indiabulls, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:
  • Age Net Monthly Income (Rs.)
    50,000 75,000 100,000
    25 years 4,285,856 6,428,784 8,571,712
    30 years 4,285,856 6,428,784 8,571,712
    35 years 4,285,856 6,428,784 8,571,712
    40 years 4,087,310 6,130,965 8,174,621
    45 years 3,786,321 5,679,482 7,572,642
    50 years 3,330,031 4,995,047 6,660,063
    You may consider repaying any loans with short tenure and high EMI in order to increase your home loan eligibility.
  • Nature of Employment: Indiabulls will check whether you are salaried or self employed an the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Indiabulls requires minimum income history and job stability of more than 2 years for salaried individuals and of 2 years for self employed individuals.
  • Indiabulls home loan eligibility based on value of property

  • Value of property: Indiabulls will not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
  • Property Value LTV
    Less than 30 lakh 90%
    Between 30 lakh and 75 lakh 80%
    Above 75 lakh 75%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • CIBIL Score: When checking eligibility for home loan, Indiabulls will look at the complete CIBIL report. Indiabulls will check your repayment history for all current and past loans and credit cards.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.
Indiabulls Home Loan Eligibility Calculator News - Apr 2017
14th Apr 17 Indiabulls housing finance raises Rs. 43 crore
Indiabulls housing finance said that it has raised Rs. 43 crore through an issue of non-convertible debentures (NCDs) as a part of its plans to raise Rs. 6,000 crore from the market. They also informed that this is the sixteenth tranche of NCDs of having a face value of Rs 10 lakh each.
31st Mar 17 Indiabulls Housing Finance raises Rs. 485 crore via NCDs
Indiabulls Housing Finance raised funds worth Rs. 485 crore through non convertible debentures on a private placement basis. The company has allotted its 12th and 13th tranche of NCDs with face value of Rs. 10 lakh each aggregating Rs. 485 crore. The debenture tranches carry different maturity period and coupon rate. One tranche of debentures of Rs. 350 crore has a coupon rate of 8.57 percent redeemable after three years and the remaining debenture tranche of Rs. 150 crore carries a coupon rate of 8.10 percent redeemable after one year.
24th Mar 17 Indiabulls Housing Finance rises by 2.2 percent on NSE
Indiabulls Housing Finance has witnessed a rise in its stock price by 2.2 percent on New York Stock Exchange after the government issued guidelines in respect of interest subsidy for middle income group home loan applicants. Government has released new guidelines for the home loan borrowers of middle income group. Potential home loan borrowers with an annual income between Rs. 6 to 18 lakhs can now get an interest subsidy of up to 4 percent for home loan of Rs. 12 lakhs and above.
09th Mar 17 Indiabulls approves allotment of equity shares under ESOP scheme
Indiabulls Housing Finance has approved allotment of 61,605 thousand shares of face value of Rs. 2 each under its ESOP scheme. After the allotment, shares of the NBFC rose to Rs. 858 on stock exchange.
23rd Jan 17 Indiabulls Housing Finance reduces home loan interest rate for existing borrowers
Indiabulls Housing Finance has reduced its home loan interest rate for existing home loan borrowers by 15 basis points. The revised floating rate of interest for home loan now ranges between 8.90 to 10.50 percent for different borrowers. The new rates will be effective from February, 2017.
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