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Indiabulls Loan Against Property Eligibility Calculator

Indiabulls Loan Against Property Eligibility Criteria 2021

Last Updated 12th Nov 2021

Eligibility Criteria Salaried Self Employed
Age of Eligible Borrower 23 - 65 years 23 - 70 years
Maximum Loan Tenure 10 years 10 years
  • Indiabulls loan against property is calculated based on your age, income, property value and repayment capacity.
  • You can increase your Indiabulls mortgage loan eligibility by adding earning family members, business firms and companies owners by main applicant as co-applicants or by applying for a longer tenure loan.
Loan Against Property Eligibility Calculator

Indiabulls Loan Against Property Eligibility

Indiabulls allows you to fund immediate or urgent needs with a loan against property. Indiabulls loan against property is a secured loan which does not come with any end usage restriction. The bank offers different types of mortgage schemes at affordable rates to eligible customers. The loan can be availed by both salaried and self-employed individuals. Indiabulls lap eligibility is based on factors like age, salary, occupation, property type and credit score. Let’s understand these factors in detail:-

Indiabulls Loan Against Property Eligibility Based on Age

    Indiabulls considers your age as one of the important parameters to calculate your Indiabulls property loan eligibility. To be eligible for availing a loan from Indiabulls, one has to be of 23 years of age. The maximum age for loan from Indiabulls can be 65 years. Indiabulls eligibility calculator takes age as an input to calculate your maximum loan tenure, loan EMI and hence, your loan amount eligibility. The maximum tenure of loan that you may be eligible based on your current age will be as follows:

Your Current Age Max tenure for salaried Max tenure for self employed
25 Years 10 Years 10 Years
30 Years 10 Years 10 Years
40 Years 10 Years 10 Years
50 Years 10 Years 10 Years
60 Years 5 Years 10 Years

Indiabulls Loan Against Property Eligibility Based on Income

  • Net Income: Your monthly income determines your eligibility to get the amount of loan after meeting all the living expenses. Indiabulls typically applies a multiplier of up to 60 times on monthly net income of the borrower to calculate the mortgage loan eligibility. However, the net monthly income required by Indiabulls to approve property loan is ₹ 70,000 . For example, if your net monthly income is ₹ 70,000 and you take a mortgage loan of ₹ 50 Lakh at 8.75% interest rate offered by bank, 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 (₹)
    50,000 75,000 100,000
    25 years 27.52 Lakh 41.27 Lakh 55.03 Lakh
    30 years 27.52 Lakh 41.27 Lakh 55.03 Lakh
    35 years 27.52 Lakh 41.27 Lakh 55.03 Lakh
    40 years 27.52 Lakh 41.27 Lakh 55.03 Lakh
    50 years 27.52 Lakh 41.27 Lakh 55.03 Lakh
    60 years 13.33 Lakh 19.99 Lakh 26.65 Lakh

    You may consider repaying any loans with short tenure and high EMI in order to increase your Indiabulls loan against property eligibility.

  • Nature of Employment: Indiabulls will check whether you are salaried or self employed. Indiabulls requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self employed individuals.

Indiabulls Property Loan Eligibility Based on Value of Property

  • Value of Property: Indiabulls does not finance the entire property value. The maximum Loan Against Property Eligibility would Depend upon the value of the property. You can get a maximum of 65% of property’s value as a loan against residential property. Suppose you intend to take a loan on a property worth ₹ 20 Lakh. The amount of loan you will be eligible for will vary with the nature of property. A residential property worth ₹ 20 Lakh will fetch the highest loan amount of ₹ 13 Lakh. The percentage of Indiabulls loans will get lower if it is against commercial property.
    Property Type LTV Property Value Maximum Loan Amount
    Residential Property 65% ₹ 20 Lakh ₹ 13 Lakh
  • Co-Applicant: In order to enhance the eligibility of a loan with Indiabulls, you can apply with a co-applicant such as a spouse or parents. This increases the total eligible income for availing a property loan and enhances the amount of eligible loans. As mentioned earlier, every bank has its own set of eligibility criteria. In the case of NBFCs, you can expect higher eligibility.
  • Property Documents: Your property’s legal documents should be satisfactory and be cleared by the legal team of Indiabulls.

Indiabulls Eligibility Based on CIBIL Score

Based on your credit score, a bank or any other financial institution decides whether you are eligible for a loan or not and is considered as one of the important parameters to get the loan. Regular payment on secured loans can also increase your CIBIL score. Indiabulls requires a minimum credit score of 650 to be eligible for a property loan.

Indiabulls Mortgage Loan Eligibility Based on FOIR

Indiabulls calculates FOIR (Fixed Obligation to Income Ratio) to estimate the amount of loan against property you can avail. Indiabulls calculates your fixed obligations to monthly income ratio that should not be more than 55% to get a mortgage loan from Indiabulls. Always calculate your eligibility with Indiabulls mortgage loan calculator to estimate your eligible loan amount before applying for a loan to reduce the chances of getting your loan application rejected.

How to Calculate Indiabulls Loan Against Property Eligibility?

To check loan against property eligibility Indiabulls follow the below given steps:-

  • Visit to the Indiabulls website.
  • Click on Indiabulls loan against property.
  • To check eligibility criteria use a Indiabulls loan against property calculator.
  • Fill the required details like loan amount required, salary, age etc.

The formula used to calculate LTV is loan amount needed/ property amount*100

Apart from that you can also use MyLoanCare Loan Against Property Eligibility Criteria to determine your eligibility for Indiabulls Loan against property.

Indiabulls Loan Against Property Schemes Eligibility

Indiabulls offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular Indiabulls loan against property products with their basic eligibility are listed 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.
  • Get maximum finance against your property by getting a mortgage loan for tenure upto 15 years.

Documents Required for Indiabulls Loan on Property

To avail Indiabulls loan on property, you will be required the following documents:-

  • Application form
  • Passport size photograph
  • Identity proof- PAN card, Aadhar card, Passport, Voter ID card, Driving License
  • Address Proof- Ration card, Utility bill, Driving license
  • Age proof- PAN Card, Passport, Class 10th certificate
  • Income proofs- Bank Statements, last 6 months salary slips, Form 16, Income Tax Returns for the last 3 years
  • Processing fee cheque
  • Property documents of mortgaged property

FAQs

What factors determine the eligibility criteria of property loan from Indiabulls?

The factors that determine the eligibility criteria of Indiabulls property loan are:-

  • Age of the applicant
  • Monthly income
  • Existing liabilities
  • CIBIL Score
  • Value of the property to be mortgaged

What should be the minimum net monthly income of the customer to get Indiabulls mortgage loan?

The minimum income for salaried employees to get a loan against property should be ₹ 0 per month. If you do not fall under the eligibility criteria then you can increase income eligibility by adding a co-applicant and maintain a good cibil score above 650. Income and cibil score ensure Indiabulls of your ability to repay the loan.

What is the minimum and maximum age required for Indiabulls loan against property?

The minimum age of the applicant should be 23 years and maximum should be 65 years for loan against property from Indiabulls. Indiabulls considers your age as an important parameter to determine your Loan against property tenure.

What is the tenure of Indiabulls property loan?

Indiabulls offers property loan for a tenure upto 10 years. However, longer the loan tenure, higher will be the eligibility. Also, higher loan tenure means higher rate of interest.

How much Indiabulls mortgage loan can be availed by the applicant?

An applicant can avail mortgage loan from Indiabulls up to % of the market value of the property if they mortgage residential property whereas you can avail up to 65% of the market value if you decide to pledge a commercial property.

Can I get a loan on my property from Indiabulls if I am not a Indiabulls customer?

Yes, you can get a loan against property from Indiabulls if you are not a Indiabulls customer. However, you can get a competitive interest rate if you are already a customer of a bank.

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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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