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Indiabulls Loan Against Property Eligibility

Indiabulls Loan Against Property Calculator India Jun 2021

Last Updated 19th May 2021

Eligibility Criteria Salaried Self Employed
Age of Eligible Borrower 23 - 65 years 23 - 70 years
Maximum Loan Tenure 10 years 10 years
  • Indiabulls offers Loan Against Property Rates at 9.99% p.a.
  • Indiabulls loan against property is calculated based on your age, income, property value and repayment capacity.
  • Increase your Indiabulls mortgage loan eligibility by adding earning family members, business firms and companies owned by main applicant as co-applicants or by applying for a longer tenure loan
Loan Against Property Eligibility Calculator

Indiabulls Loan Against Property Eligibility Based on Age

  • Age: Indiabulls considers your age as one of the important parameters to calculate your eligibility of a mortgage loan. To be eligible for availing a loan from Indiabulls, one has to be of atleast 23 years of age. The maximum age for loan from Indiabulls can be 65 years for salaried and 70 years for self employed. 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 Mortgage Loan Eligibility Based on Income

  • Net Income: The amount of loan you can avail is a function of your net income. Indiabulls typically applies a multiplier of up to 60 times on monthly net income of the borrower to calculate the mortgage loan eligibility. For example, if your net monthly income is ₹ 70,000 and you take a mortgage loan of ₹ 50 Lakh at 8.00% 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 28.78 Lakh 43.16 Lakh 57.55 Lakh
    30 years 28.78 Lakh 43.16 Lakh 57.55 Lakh
    35 years 28.78 Lakh 43.16 Lakh 57.55 Lakh
    40 years 28.78 Lakh 43.16 Lakh 57.55 Lakh
    50 years 28.78 Lakh 43.16 Lakh 57.55 Lakh
    60 years 13.56 Lakh 20.34 Lakh 27.13 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. 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 0 years for salaried individuals and of 0 years for self employed individuals.

Indiabulls Loan Against Property 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. 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.
    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, one can apply with a co-applicant such as a spouse or parents. This increases the total eligible income for availing a property loan and enhance the amount of eligible loans. As mentioned earlier, every bank has its own set of eligibility criteria. In case of NBFCs, customers can expect higher eligibility.
  • Property Documents: Your property’s legal documents should be satisfactory and be cleared by the legal team of Indiabulls.

Indiabulls Property Loan Eligibility Based on CIBIL Score

CIBIL Score: The credit history of an individual plays an important role in deciding the amount of the loan. Credit history is basically the credit report of an individual based on credit information recorded by CIBIL for all your past and current loan transactions. Based on your credit score, a bank or any other financial institution decides whether an individual is eligible for a loan or not. 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.

There are few factors which affect your credit score and in turn impact your chances of getting of loan from Indiabulls.

  • Late Payments – If have delayed in repaying your existing or past loans, it negatively affects your CIBIL score and reduces your chances of getting a loan from Indiabulls.
  • High Number of Unsecured Loans – Always keep a balance between secured and unsecured loans. Unsecured loans are riskier and more number of unsecured loans can adversely affect your credit score.
  • Usage of Credit Limit – Credit card bills and use of credit limit shows your credit behaviour. Frequent usage or withdrawals of large amounts up to the credit card limit reflects a potential financial stress, indiscipline on your part and may adversely impact your credit score.
  • Multiple Loan Applications – If you apply for loan in multiple banks at one time, it can affect your score negatively and reduce your CIBIL score. In case of application rejection from Indiabulls, improve your credit worthiness to get a good score before putting in an application in another bank.

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 will calculate the percentage of fixed obligations (Rent and EMIs) to your net monthly income. Your fixed obligations to monthly income ratio 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.

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 employee to get loan against property should be ₹ 0 per month.

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.

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.

How much mortgage loan can be availed by the applicant?

An applicant can avail mortgage loan from Indiabulls up to 65% of the market value of the property.

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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.
*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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