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Indiabulls Home Loan Interest Rate Calculator - Aug 2017

Last Updated 27th Jul 2017

Indiabulls Home Loan Interest Rates

Interest Rate 8.35% - 8.85%
Check Best Offers
Lowest EMI Rs. 758 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Minimum Rs. 5,000 Maximum Rs. 10,000
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 65 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
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Indiabulls Home Loan

Indiabulls offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from Indiabulls has the following benefits:

  • Counselling by experts to help you in making the right choice
  • Affordable and attractive interest rates
  • Easy monthly repayments under tranched EMI scheme for partially disbursed loans

Indiabulls Home Loan Interest Rates

In addition to its regular loan products, bank also offers customized loans for special categories of borrowers. Bank offers lower rates to ladies borrowers. Click on the details to get slabwise interest rates.

Indiabulls Floating Rate Home Loans

Product Interest Rates
Indiabulls Home Loan Floating 8.35% - 8.85%
Details+
Indiabulls E - Home Loans 8.35% - 8.85%
Details+

Indiabulls Fixed Rate Home Loans

Product Interest Rates
Indiabulls Home Loan Fixed 8.95% - 9.10%
Details+

Indiabulls home loan interest rate depends upon

  • Loan amount: Housing loan rate in Indiabulls depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
  • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
  • Type of loan opted for: Indiabulls also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.

Indiabulls Eligibility Criteria

Indiabulls has detailed criteria to determine a potential borrower’s eligibility for housing loans. Some of the key criteria are:

Indiabulls Home Loan Eligibility Criteria
Age 21 - 65 years
Job Stability in case of Salaried (in years) 2 years
Minimum Credit Score 650 and above
Loan Amount Rs. 1,500,000 to Rs. 1,500,000,000
Loan to Value Ratio Upto 90%
FOIR (Fixed Obligations to Income Ratio) Up to 0.65
  • Age: Age plays an important role to know your eligibility and repayment capacity. Indiabulls offers loan to salaried at the age of 21 to 65 years and self- employed individuals at 21 to 65 years. A borrower taking a home loan at the age of 50 cannot get a loan of more than 15 years, which may result in lower loan eligibility and monthly EMI given higher servicing burden on his existing income. A person taking a loan at the age of 25, can get loan of up to 30 years, thus reducing servicing burden on his existing income and hence, improving his loan amount eligibility
  • Income: In case of salaried person, loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. . Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for home loan. In case you are salaried, you must be in a full time job for at least 2 years. In case you are self-employed, minimum turnover and minimum net income criteria may apply. Indiabulls also looks for business vintage (number of years a business has been in existence of years. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your loan eligibility. If you are working with a reputed company, probability of getting house loan from Indiabulls increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your house loan eligibility. Indiabulls looks for a minimum credit score of 650 and above
  • Loan Amount Bank gives you loan depending upon your loan eligibility. Indiabulls gives you an amount ranging from Rs. 1,500,000 to Rs. 1,500,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Property Value: The value of the property to be purchased is used to calculate your maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 90%. Indiabulls will get a detailed property assessment done to establish that all legal titles are in place, the market is saleable or liquid and to get an estimate of the fair market value of the property. LTV is calculated based on the estimated fair market value or registered value, whichever is lower
  • Fixed Obligations to Income Ratio (FOIR): Indiabulls will also calculate the proportion of your fixed obligations (including EMIs paid on other existing loans) to your income to calculate the Fixed Obligations to Income Ratio, popularly known as FOIR. In summary, fixed obligations include estimated average monthly expenses and EMIs you are paying on other existing loans. Minimum FOIR to be eligible for a Indiabulls home loan is 0.65

Indiabulls Loan Eligibility Calculator and EMI Calculator

Indiabulls Home Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. It is important to calculate eligibility for housing loan from Indiabulls. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

Further, you can also use the Indiabulls Home Loan EMI Calculator online to calculate your house loan EMI. EMI is a fixed amount that you pay each month towards the repayment of yourloan till the end of tenure

  • EMI calculator of Indiabulls helps you to calculate your monthly EMI at different rate of interest and also check and compare lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI

What are the benefits of calculating Indiabulls Housing Loan EMI?

  • EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Indiabulls Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Other Home Loan Charges

In addition to interest rates, home loan also carry some other charges which include:

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Indiabulls allows prepayment of house loan with prepayment charges
  • Processing Fee - Indiabulls charges a processing fee of 0.50% of loan amount Minimum Rs. 5,000 Maximum Rs. 10,000 with applicable tax
  • Other Charges - Bank also charges technical and legal charges which are explained to the customer during the loan process.

Home Loan Products

Indiabulls offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Indiabulls e-home loans

Description:
    • Avail e-loans for purchase of Flats, row house, bungalow from developers, existing freehold properties, properties in an existing co-operative housing society or apartment owner's association. Can also take loan for construction of residential dwelling unit on any owned plot, extension of existing residential property (adding floors, new rooms) or Renovation of existing residential property.
    Who is Eligible?
      • Customers who wants to purchase flats, bungalow or any type of residential property, plots for construction of house can easily avail e-home loans.
      Key Loan Terms
      • Home loan available at the age of 18 - 70 years
      • Loan amount that you can borrow ranges from Rs. 1,500,000 to Rs. 1,500,000,000
      • Option to apply for a maximum ltv of 90% of value of the property
      • Housing loan for a maximum period of 30 years

      Housing Loan Indiabulls documents required

      For Salaried employee

      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 2 years
      • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
      • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

      For Self-Employed

      • Filled up loan application form
      • 2 Passport Size Photo
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
      • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

      Frequently Asked Questions

      Why to take home loan from Indiabulls?

      Indiabulls offers housing loan at 8.35% rate with the lowest EMI of Rs. 758 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Indiabulls.

      What is the maximum loan tenure I can opt under Indiabulls house loan?

      Indiabulls offers you a longer tenure of 30 years to repay your loan with a benefit of paying less EMI per month.

      Do I get tax benefit on home loan from Indiabulls?

      As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

      Can I foreclosure my home loan? What are the charges applicable?

      Yes, you can foreclose your loan with Nil charges.

      Can I transfer my house loan from another bank to Indiabulls?

      Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Indiabulls offers you to pay lower EMIs and save money.

      Can I club the income of my spouse with mine and apply for joint home loan?

      You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

      What is the benchmark applicable for housing loan?

      The benchmark applicable for home loan in Indiabulls is PLR.

      What is the effect of part payments on Indiabulls housing loan EMI ?

      Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

      How to increase my eligibility on Indiabulls housing loan?

      If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

      How will interest rate on Indiabulls housing loan change in future?
      • Floating rate on Indiabulls housing loan is linked to its PLR Rate, which is currently at 16.90%. When Bank offers a home loan at 8.35%, it applies a discount of 8.55% to its PLR Rate to arrive at this home loan rate.
      • When RBI increases rates, the bank may increase its PLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

      Indiabulls Home Loan in India

      Indiabulls Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

      City Customer Care Number
      Agra 981-109-0584, homeloans [at] indiabulls [dot] com
      Ahmedabad 079-30484601, homeloans [at] indiabulls [dot] com
      Ambala 0172-5051348, homeloans [at] indiabulls [dot] com
      Anand 079-30484601, homeloans [at] indiabulls [dot] com
      Aurangabad 989-231-7321, homeloans [at] indiabulls [dot] com
      Bangalore 080-30141853, homeloans [at] indiabulls [dot] com
      Bhilai 1800-200-7777, homeloans [at] indiabulls [dot] com
      Bhilwara 0141-3055777, homeloans [at] indiabulls [dot] com
      Bhiwadi 989-231-7321, homeloans [at] indiabulls [dot] com
      Bhopal 0755-3921628, homeloans [at] indiabulls [dot] com
      Bhubaneswar Cuttack 1800-200-7777, homeloans [at] indiabulls [dot] com
      Bikaner 0141-3055777, homeloans [at] indiabulls [dot] com
      Chandigarh 0172-5051348, homeloans [at] indiabulls [dot] com
      Chennai 044-30063812, homeloans [at] indiabulls [dot] com
      Cochin 1800-200-7777, homeloans [at] indiabulls [dot] com
      Coimbatore 0422-3018188, homeloans [at] indiabulls [dot] com
      Dehradun 1800-200-7777, homeloans [at] indiabulls [dot] com
      Delhi 011-33543680, homeloans [at] indiabulls [dot] com
      Durg 1800-200-7777, homeloans [at] indiabulls [dot] com
      Faridabad 011-33543680, homeloans [at] indiabulls [dot] com
      Gandhinagar 079-30484601, homeloans [at] indiabulls [dot] com
      Ghaziabad 981-109-0584, homeloans [at] indiabulls [dot] com
      Goa 1800-200-7777, homeloans [at] indiabulls [dot] com
      Greater Noida 011-33543680, homeloans [at] indiabulls [dot] com
      Gurgaon 0124-4572444, homeloans [at] indiabulls [dot] com
      Guwahati 1800-200-7777, homeloans [at] indiabulls [dot] com
      Gwalior 0755-3921628, homeloans [at] indiabulls [dot] com
      Hyderabad 040-24542262, homeloans [at] indiabulls [dot] com
      Indore 0731-3085211, homeloans [at] indiabulls [dot] com
      Jabalpur 0755-3921628, homeloans [at] indiabulls [dot] com
      Jaipur 0141-3055777, homeloans [at] indiabulls [dot] com
      Jalandhar 0161-5024294, homeloans [at] indiabulls [dot] com
      Jodhpur 0141-3055777, homeloans [at] indiabulls [dot] com
      Kanpur 981-109-0584, homeloans [at] indiabulls [dot] com
      Karnal 0124-4572444, homeloans [at] indiabulls [dot] com
      Kolhapur 989-231-7321, homeloans [at] indiabulls [dot] com
      Kolkata 983-003-9773, homeloans [at] indiabulls [dot] com
      Kota 0141-3055777, homeloans [at] indiabulls [dot] com
      Kozhikode 1800-200-7777, homeloans [at] indiabulls [dot] com
      Lucknow 981-109-0584, homeloans [at] indiabulls [dot] com
      Ludhiana 0161-5024294, homeloans [at] indiabulls [dot] com
      Madurai 044-30063812, homeloans [at] indiabulls [dot] com
      Meerut 981-109-0584, homeloans [at] indiabulls [dot] com
      Mehsana 079-30484601, homeloans [at] indiabulls [dot] com
      Mohali Sas Nagar 0172-5051348, homeloans [at] indiabulls [dot] com
      Mumbai 989-231-7321, homeloans [at] indiabulls [dot] com
      Mussoorie 1800-200-7777, homeloans [at] indiabulls [dot] com
      Nagpur 989-231-7321, homeloans [at] indiabulls [dot] com
      Nashik 989-231-7321, homeloans [at] indiabulls [dot] com
      Noida 011-33543680, homeloans [at] indiabulls [dot] com
      Noida Extn 011-33543680, homeloans [at] indiabulls [dot] com
      Panipat 0124-4572444, homeloans [at] indiabulls [dot] com
      Patna 1800-200-7777, homeloans [at] indiabulls [dot] com
      Pondicherry 1800-200-7777, homeloans [at] indiabulls [dot] com
      Pune 989-231-7321, homeloans [at] indiabulls [dot] com
      Raipur 1800-200-7777, homeloans [at] indiabulls [dot] com
      Rajkot 079-30484601, homeloans [at] indiabulls [dot] com
      Ranchi 1800-200-7777, homeloans [at] indiabulls [dot] com
      Rohtak 0124-4572444, homeloans [at] indiabulls [dot] com
      Roorkee 1800-200-7777, homeloans [at] indiabulls [dot] com
      Salem 044-30063812, homeloans [at] indiabulls [dot] com
      Shimla 1800-200-7777, homeloans [at] indiabulls [dot] com
      Sonepat 0124-4572444, homeloans [at] indiabulls [dot] com
      Surat 079-30484601, homeloans [at] indiabulls [dot] com
      Trichy 044-30063812, homeloans [at] indiabulls [dot] com
      Udaipur 0141-3055777, homeloans [at] indiabulls [dot] com
      Vadodara 079-30484601, homeloans [at] indiabulls [dot] com
      Varanasi 981-109-0584, homeloans [at] indiabulls [dot] com
      Vijaywada 040-24542262, homeloans [at] indiabulls [dot] com
      Vizag 040-24542262, homeloans [at] indiabulls [dot] com
      Indiabulls Home Loan Interest Rate
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