India Infoline Housing Finance Limited (IIHFL) is a 100% subsidiary Company of India Infoline Finance Limited (IIFL), an entity that is a registered Non-Banking Financial Company (NBFC) and is authorized for operation by the Reserve Bank of India (RBI). Primarily a mortgage finance, the company was officially registered with the National Housing Bank (NHB) in 2009. Since then, IIFL Home Loans has enjoyed a steady surge in popularity that allows it to compete with the bigger players in the lucrative sphere of home loans in India.
The IIFL Home Loan is a study in simplicity and convenience. The essential highlights include simplified documentation, immensely hassle free application process, doorstep service and competent insurance options. The basic eligibility to apply for this home loan is that the applicant must be an Indian citizen, not younger than 21 years, and not older than 60 years (salaried individuals) and 65 years (self-employed people). Again, the application process itself is very simple- you can apply for the home loan online, give a missed call to IIFL Home Loans, reach their ever responsive customer support team via email, or visit any one of their highly visible branches across the country.
At IIHFL, the focus has always been to comprehensively simplify the home loan acquisition process. And, why should you indulge in the pursuit of a home loan from IIHFL? The following are the express reasons-
Currently, the applicable interest rate for individual IIHFL home loan interest rate ranges from 9.55% onwards. The applicant’s credit score is used as the deciding factor to assess his/her risk profile. A combination of these factors decide the quantum of applicable interest rate.
Expounding, the following home loan interest rates apply:
|Criteria.||Applicable Interest Rate.|
|Loan amount lesser or equal to Rs.200 lakhs (Rs.2 Crores)||9.55% - 10.50%|
|Loan amount above Rs.200 lakhs (Rs.2 Crores)||10.50% - 11.50%|
In order to avail an IIFL Home Loan, the applicant must comply with the following requirements-
Upon application, India Infoline Housing Finance Limited (IIHFL) will request for the following documents:
Salaried Individuals- Last 6 months bank statement, latest form 16/ITR, latest 3 months salary slips.
Self Employed Individuals- Last 6 months bank statement, last 3 years IT returns for both self and business, certificates proving educational qualifications, last 3 years balance sheet, professional practice certificate, copy of business license and partnership deed (if applicable).
Self Employed Non Professional- Last 6 months bank statement, last 3 years IT returns for both self and business, certificates proving educational qualifications, last 3 years balance sheet, professional practice certificate, copy of business license and partnership deed (if applicable), brief introduction to the business as furnished on the letter head of the firm.
Already a choc-a-block specialty field, the home loans situation in India has received a boost in the arm with the entry of India Infoline Housing Finance Limited. Offering the highest grade of service, products and complete peace of mind, IIHFL is definitely worth your undivided attention.
Customers of India Infoline Housing Finance Limited will now have to pay 9.55% instead of 9.65% for their home loans, effective immediately. They have also cut the fee for home loan processing, bringing it down to Rs. 5, 000.
In a move to make information better accessible to current customers, they have come out with a mobile application. Through this app, customers will have access to all their home loan related information at a glance, wherever they are.
3rd February, 2016
India Infoline Finance Limited (IIFL) has recorded a solid showing for the 2015 Q1 that ended on June 30. The company, specializing in loans against property, SME loans, home loan, commercial vehicle finance, etc., recorded a cumulative income of Rs.963.9 crores that is a 22% hike when compared to comparative year-on-year numbers. After deducting taxes, the number still impressed at Rs.118.9 crore- a solid indicator of IIFL’s continued popularity in the Indian market and ability to churn out a profitable 2015-16 fiscal year.
31st July 2015