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Indiabulls Loan Against Property

Indiabulls Mortgage Loan Interest Rates 2021

Last Updated 12th Nov 2021

Indiabulls is one of the largest HFC in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 9.99% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of Indiabulls Loan against property are mentioned below: Check Best Offers

Processing Fee Upto 1.00%
Max Tenure 10 years
Lowest EMI ₹ 1,321 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 23 and Max 65 years for Salaried
Min 23 and Max 70 years for Self Employed

    Loan transfers facility with additional top ups

    Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Cashback Apply Online

    Indiabulls Loan Against Property

    Indiabulls offers loan against property to meet your business as well as personal needs against the mortgage of your existing residential or commercial property. Taking a loan from Indiabulls has the following benefits:

    • Loan transfers facility with additional top ups
    • ISO certified loan process
    • Quick approval and disbursal of loan
    • Nil prepayment charges for individual non business borrowers

    Indiabulls Loan Against Property Fees and Other Charges

    Along with Indiabulls Loan against Property Rates, Indiabulls also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on Indiabulls LAP Loan is 0.75%. This fee is charged by Indiabulls to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Indiabulls Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 20 Lakh 9.99%
    ₹ 20 Lakh - ₹ 25 Lakh 9.99%
    ₹ 25 Lakh - ₹ 1 Cr 9.99%
    Above ₹ 1 Cr 9.99%

    Steps to Apply for Indiabulls Loan Against Property

    You can apply for Indiabulls Loan against property through online as well as offline modes. To apply for a loan through offline mode, you need to visit the official Indiabulls bank branch and fill the application form along with the required documents for loan against property. The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.

    To apply online for Indiabulls Loan against Property online, you need to follow these steps:-

    • Visit the official website of Indiabulls and navigate to Loan Against Property.
    • Before applying, now check your eligibility for Indiabulls Loan against Property.
    • Check various details about the loan, such as interest rates and other charges.
    • If you are satisfied and have cross verified all the details, fill the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Apart from that, you can also visit online marketplaces like MyLoanCare to apply for a Indiabulls Loan against property. Here, you can compare offers Indiabulls with other top banks and can use the EMI and Eligibility calculators to plan your expenses and loan repayments. Indiabulls Loan against property application process at MyLoanCare is hassle-free and transparent.

    Compare Indiabulls Loan Against Property Interest Rate with Top Banks

    Indiabulls offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars Indiabulls SBI HDFC
    Interest Rate 9.99% - 9.99% 8.80% - 13.10% 8.75% - 9.90%
    Processing Fees Upto 1.00%
    Min ₹ 5,000
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.75%
    Loan Tenure 10 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 3 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 23 and Max 70 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate PLR RLLR PLR
    Lowest EMI Per Lakh ₹ 1,321 per lakh ₹ 1,256 per lakh ₹ 999 per lakh
    Indiabulls Floating Rate on Loan Against Property

    As on 29 Nov, 2021, Indiabulls offers the lowest rate starting at 9.99%. Indiabulls Loan against property rates have been dropped by 0.51%, from the earlier rate of 10.50% with effect from 16 Apr, 2021.

    Indiabulls Mortgage Loan Interest Rates
    Indiabulls Loan Against Property Floating 9.99%
    Indiabulls Loan Against Property Floating
    Loan AmountCurrent LAP Rates
    Upto ₹ 20 Lakh 9.99%
    ₹ 20 Lakh - ₹ 25 Lakh9.99%
    ₹ 25 Lakh - ₹ 1 Cr9.99%
    Above ₹ 1 Cr 9.99%

    Indiabulls Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    16 Apr, 2021 9.99%
    01 Apr, 2021 10.50%
    31 Mar, 2021 10.50%

    Factors Affecting Indiabulls Loan against Property Interest Rates

    Some of the factors that impact Indiabulls Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in Indiabulls depend upon the loan amount you apply. You can get a minimum loan of ₹ 20 Lakh from Indiabulls.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.
    • Type of loan opted for: Indiabulls offers differential rates for customers different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: Indiabulls may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    Indiabulls Loan Against Property Eligibility Criteria

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

    Eligibility Criteria Details
    Age 23 to 65 years
    Loan Amount ₹ 20 Lakh to ₹ 0 Cr
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    Indiabulls Mortgage Loan Interest Rate and EMI Calculator

    You can also use an online Indiabulls Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • The Indiabulls Mortgage Loan EMI calculator helps you calculate your monthly EMI at different rates of interest and check and compare the lowest EMI per lakh on LAP.
    • You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor that affects your EMI is the loan against property interest rate. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.
    Loan Against Property Top up, Transfer in Indiabulls

    Indiabulls offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of Indiabulls at an affordable interest rate, higher loan amount and convenient loan tenure. Indiabulls loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in Indiabulls are 9.99%. Along with that, you can also avail of additional top-up on your loan against property.

    Loan Against Property Indiabulls 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:

    Loan Against Property for Personal Use

    • You can avail finance against your property by getting a mortgage loan for tenure upto 15 years.
    • Customers can mortgage their commercial or residential property for fulfilling personal needs such as educational expenses, medical facilities etc.
    • If you are working in Small and mid-sized businesses, Partnership firms, as Self-employed professionals or Private or closely held companies, you are eligible for the loan.
    • Salaried individuals and self-employed professionals and non-professionals can avail loan against property for personal use.

    Mortgage Loan for Business Use

    • Get maximum finance against your property by getting a mortgage loan for tenure upto 15 years.
    • You can avail Mortgage loan for expanding business or start a new venture.
    • Individuals working as sole proprietors, in partnership firms or public/private sector can apply for the loan.
    • Small and mid-sized businesses, Partnership firms, Self-employed professionals and Private or closely held companies can avail mortgage loan for business use.

    Indiabulls Loan Against Property Documents Required

    For Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 0 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 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
    For Salaried employee
    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 0 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
    Property documents
    • Registered Sale Deed/ Conveyance/ Lease Deed
    • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
    • Latest House Tax Return/ Receipt
    • Approved Building Plan from Municipal Corporation

    FAQs

    What is Indiabullss loan against property interest rate?

    Indiabulls offers loan against property at a rate of 9.99% with the lowest EMI of ₹ 1,321. If you are currently paying a higher interest rate than Indiabulls rate, you can opt for a balance transfer of loan to Indiabulls.

    Did Indiabulls Loan against property rates drop?

    Yes, Indiabulls loan against property rates has decreased by 0.51% from the previous rate of 10.50% to 9.99%. The lowest mortgage rates of Indiabulls are effective from 16 Apr, 2021.

    How to increase my eligibility on Indiabulls Mortgage 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 a loan.

    Can I foreclose my Mortgage loan? What are the charges applicable?

    Yes, you can foreclose your Indiabulls loan against property anytime you want with Nil foreclosure charges.

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

    Indiabulls offers a maximum tenure of 10 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

    What is the benchmark rate applicable for Mortgage loan?

    The benchmark rate applicable for property loans in Indiabulls is PLR

    Can I transfer my LAP 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 and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in Indiabulls are 9.99%.

    What is Indiabulls mortgage loan processing fees?

    The loan processing fee charged is 1.00% of the total loan amount.

    What security do I need to provide for Indiabulls Mortgage Loan?

    Indiabulls requires a registered mortgage of the property against which the bank will provide you a loan.

    • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    • Your total EMIs on all loans and credit cards (from Indiabulls and other banks) are no more than 60 - 70% of your net monthly income.
    • You have not defaulted on loans or credit card dues to Indiabulls and other banks and all EMI's have been paid. Note that Indiabulls can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to Indiabulls in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
    • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
    • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

    Are prepayment or foreclosure charges applicable on Indiabulls loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:

    • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
    • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

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    Indiabulls Loan Against Property News - Nov 2021
    • 2021-11-12 : Indiabulls Housing Finance Reports Loss by 11.4%
      Indiabulls Housing Finance has reported a fall in profit in quarter 2 for the fiscal year by 11.4%. As a result, the revenue from operations has also fallen by 13.5%.
    • 2021-05-19 : Indiabulls Housing Finance Q4 net profit up 102%
      Indiabulls Housing Finance Ltd has posted a 102% rise in net profit at Rs276cr for the fourth quarter ended March 2021 as against Rs137cr in same quarter of FY20. Its loan book which includes home, personal, two-wheeler, car , gold, education and doctor loans shrunk to Rs66,047cr in March 2021 from Rs73,065cr in March 2020. Further, Its net profit for FY21 was down at Rs1,201cr from Rs2,199cr.
    • 2021-04-26 : Indiabulls Housing Finance planning to become a loan originator
      Indiabulls joined hands with HDFC. Under the partnership, Indiabulls will originate and process retail home loans as per jointly formulated credit parameters and eligibility criteria. Of these loans, 80% will be on HDFC’s books, while Indiabulls will retain 20%. The loans will be serviced by Indiabulls throughout their lifecycle. HDFC with its access to deposits, cheap cost of funds, simple process and integration is expected to offer Indiabulls the benefit of a large franchise, scale and a robust credit appraisal process.
    • 2017-12-26 : Supertech repays Rs 70-cr loans to Indiabulls group
      The Noida-based Realty firm Supertech had raised Rs 430 crore from Altico Capital last week. These funds have been used to repay Rs 70 crore loans to Indiabulls group. The remaining amount would be utilised for a housing project in Noida.
    • 2017-04-17 : Indiabulls plans to restructure its real estate business
      According to sources, Indiabulls Real Estate’s board is planning to restructure their real estate business by de- merging their commercial and residential segments into separate companies. The restructuring would help the company concentrate on its key business segments individually and improve its competitive advantage in the real estate sector in the country.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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