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Indiabulls Loan Against Property

Indiabulls Mortgage Loan Interest Rates 2021

Last Updated 19th May 2021

Indiabulls offers Loan Against Property starting at interest rate of 9.99% which is one of the best mortgage loan rates in India. 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 @ 7.20%* Get upto ₹ 1,000* Cashback Apply Online

    Indiabulls Loan Against Property lap in India

    Indiabulls offers loan against property to people who require funds to meet their business as well as personal needs against the mortgage of their existing 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

    Indiabulls 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.

    Mortgage Loan Interest Rates in Indiabulls for Salaried employee

    The mortgage loan interest rates in Indiabulls for salaried employee is listed in the table:-

    Interest Rate for Salaried 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%

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

    The interest rate for mortgage loans for Self-employed people is 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

    Loan against property in Indiabulls can be availed through two ways online as well as offline. To apply online perform the following steps:-

    • Visit the official website of Indiabulls
    • Go to products
    • Select Loan Against Property
    • Check eligibility and interest rates and fees
    • Click on Apply Now
    • Fill the application form
    • Upload the required documents
    • Bank will do the verification
    • In 10-15 days loan amount will be sanctioned in your bank account

    You can also apply offline, through the following steps:-

    • Visit the nearest Indiabulls branch
    • Fill the loan against property form
    • Submit the required documents
    • Banks will do the verification and inform you if loan is approved or not
    • Once loan is approved you will receive the amount in your bank account
    Indiabulls Floating Rate Loan Against Property lap (LAP)

    As on 15 Jun, 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 Property Loan Interest Rate Indiabulls

    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 for. 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 which will increase your eligibility for higher loan amount.
    • Type of loan opted for: Indiabulls offers differential rates for different profiles of customers 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 by a salaried person as compared to 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 who will most likely take a mortgage loan for his personal purposes.

    Indiabulls Loan Against Property lap Eligibility

    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 ₹ 3 Cr
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    • Age: Age is one of the important factors to examine your eligibility. Indiabulls offers loans to salaried and self employed from the age of 23 years. Any person taking a loan at the age of 23, can get a loan of up to 15 years, thus reducing the burden on existing income and hence, improving loan amount eligibility.
    • Income: Property loan is mostly taken by self employed individuals primarily to meet their business requirements. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings.
    • CIBIL Score: Past CIBIL history and repayment record of existing loans and credit cards has adverse impact on your loan eligibility. If you have a poor repayment record, then you may find it difficult to get a loan. A regular repayment record not only improves your chances of getting a loan, but also increases your loan eligibility. Indiabulls grants loans to borrowers with a CIBIL score of 650 and above.
    • Loan Amount: Indiabulls gives you an amount ranging from ₹ 20 Lakh to ₹ 3 Cr. To improve chances of approval, apply for a loan amount that you can comfortably service.
    • Property Value: The value of the property to be mortgaged is used to calculate maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 50% depending on the type of property. Indiabulls will conduct a detailed property assessment to establish that all legal titles are in place, assess the market value of the property, and its sale ability. LTV is calculated based on the estimated fair market value or registered value, whichever is lower.
    • Fixed Obligations to Income Ratio (FOIR): The bank will also calculate the proportion of your fixed obligations to your income to calculate the Fixed Obligations to Income Ratio, known as FOIR. Fixed obligations include estimated average monthly expenses and EMIs you are paying on other existing loans. Minimum FOIR to be eligible for a Indiabulls mortgage loan is 0.65.

    Indiabulls Mortgage Loan Eligibility Calculator

    Indiabulls Property 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. You can use Indiabulls LAP eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

    Indiabulls Mortgage Loan Interest Rate and EMI Calculator

    You can also use 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

    • EMI calculator of Indiabulls helps you to calculate your monthly EMI at different rates of interest and also check and compare lowest EMI per lakh on LAP.
    • Higher the loan amount, higher the EMI. 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 which affects your EMI is the interest rate on the loan. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly high in a longer tenure loan compared to 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.

    What are the Benefits of Calculating Indiabulls Mortgage Loan EMI?

    • EMI calculator helps you to calculate your monthly EMI at different rate of interest
    • Indiabulls Mortgage loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • Getting an EMI estimate will help you ascertain the monthly EMI you can comfortably service, thus allowing you to choose the right combination of loan amount and loan tenure.
    Loan Against Property Top up, Transfer in Indiabulls

    Indiabulls offers mortgage loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Indiabulls.You can avail additional top-up loan against property from Indiabulls, subject to your eligibility.With Indiabulls Top up LAP loan, you can continue with your existing LAP loan at affordable interest rate, higher loan amount and convenient loan tenure.

    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

    Description:
    • 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.
    Who is Eligible?
    • 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

    Description:
    • 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.
    Who is Eligible?
    • 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 balance transfer of loan to Indiabulls.

    Did Indiabulls Loan against property rates drop?

    Yes, Indiabulls loan against property rates has been decreased by 0.51% from the previous rate of 10.50% to 9.99%. The lowest mortgage rates of Indiabulls is 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.

    Do I get tax benefit on Loan against property from Indiabulls?

    There are no tax benefits available for loan against property.

    • Floating interest rate on Indiabulls property loan is linked to its PLR, which is currently 24.00%. So, when Indiabulls offers a loan against property at 9.99%, it applies a -14.01% premium to its PLR to arrive at this rate.
    • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new loan against property would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new loan account customers.

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

    Yes, you can foreclose your loan 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.

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

    Yes, you can club the income of your spouse to increase your loan eligibility.You can bring in your spouse as a co-owner of the property or guarantor of the loan.

    What is Indiabulls mortgage loan processing fees?

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

    What is Indiabulls property loan procedure?

    You can apply for a Indiabulls property loan by contacting the bank directly or by approaching them through online marketplaces like MyLoanCare. Approaching the bank through an online marketplace improves the chances of getting best loan rates, low processing fees and special offers in the form of cash backs. Once you approach the bank, they will collect your documents and initiate the loan process which includes checking your CIBIL score, property valuation, technical and legal checks on property, eligibility calculation. The bank will give a decision on your loan based on the evaluation results.

    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 - Jun 2021
    • 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.
    • 2017-01-31 : Indiabulls Finance achieves a reasonable growth across its various loan portfolios during the third quarter of FY17
      Indiabulls Finance has reported a decent growth across its various loan segments including commercial loans, home loan and loan against property during third quarter of FY17 as compared to third quarter of FY16. Portfolio of individual home loan and loan against property has grown by 35 and 20 percent respectively during the quarter on year on year basis.
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