Indiabulls Home Loan Eligibility Calculator India Feb 2017

Indiabulls Home Loan Eligibility Criteria

Last Updated 20th Feb 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 4,226,743 6,340,115 8,453,487
    30 years 4,226,743 6,340,115 8,453,487
    35 years 4,226,743 6,340,115 8,453,487
    40 years 4,036,129 6,054,193 8,072,257
    45 years 3,745,002 5,617,503 7,490,005
    50 years 3,300,365 4,950,548 6,600,730
    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 - Feb 2017
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.
04th Jan 17 Indiabulls Housing Finance cuts home loan rates to 8.65 percent
Indiabulls Housing Finance has reduced its home loan rates by 45 basis points. The revised home loan rates for female borrowers for loan amount up to Rs. 75 lakhs now stands at 8.65 percent. Similarly, home loan rate for other borrowers is reduced to 8.70 percent as compared to 9.10 percent earlier. The new rates are effective from 3rd January, 2017.
28th Dec 16 Home loan seekers to cheer in New Year as mortgage firms likely to cut lending rates
Mortgage firms are likely to cut home loan rates by 25 to 50 bps to revive growth in their home loan business. Demonetisation has helped the mortgage firms such as HDFC, Indiabulls Housing Finance in raising cheap funds from the market via bonds and commercial paper. Lower cost of funds is expected to allow HFCs to cut their lending rates and hence, bring cheer for new home loan borrowers.
05th Nov 16 Indiabulls home loan at 9.15 percent
Indiabulls Housing Finance has reduced its home loan rates to 9.15 percent for loan amount upto Rs. 75 lakhs. The new rates will be effective from 4th November, 2016. With this, Indiabulls Housing Finance home loan are now available at same rate as SBI home loan and ICICI Bank home loan.
25th Jul 16 Indiabulls Housing Finance Q1 net profit at Rs.630 crore
The company has posted a PAT of Rs.630 crore for the quarter ended June 30, 2016 , which is 23.21 % higher compared to first quarter previous year .Whereas the total income has increased to Rs.2597.4 Crore i.e. 28.3 % compared to first quarter previous year . The Board of Directors of the Company has declared an Interim Dividend of Rs.9/- per equity share (on the face value of Rs.2 per share) for the financial year 2016-2017.
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