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  • IIFL Home Loan is Rated as "Satisfactory" by 19 Users

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    IIFL Home Loan

    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.

    Home Loans from IIFL:

    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.

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    Features of IIFL Home Loans:

    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-

    • Super quick loan application process.
    • Completely transparent, hassle free procedure with zero hidden costs.
    • Innovative options such as door-step services and personal loan counseling.
    • Nationwide presence and consistent online presence ensures that IIHFL is approachable at any time.
    • Balance Transfer Facility- Transfer your existing home loan from another lender to IIHFL.
    • Option to apply for the loan individually or jointly with co-applicants (not necessarily co-owners).
    • Maximum loan available is 75% of the cost of the property for loans above 75 lakhs and 80% of the cost of the property for loans upto 75 lakhs.
    • Linked security offered with insurance cover.
    • Tax benefits under Section 80C of the Income Tax Act, 1961.

    Current IIFL Home Loan Interest Rate:

    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%

    Eligibility and Documentation:

    In order to avail an IIFL Home Loan, the applicant must comply with the following requirements-

    • Must not be lesser than 21 years old, and older than 60 years (salaried individuals) or 65 years (self-employed individuals).
    • For salaried people, the gross annual family income must not be lesser than Rs.2 lakhs, while the same stands at a minimum profit of Rs.2 lakhs (minus taxes) for self-employed individuals.
    • The applicant must qualify in terms of the gauge of repayment capacity. This factor is ascertained by the following indicators- gross annual income, age, qualifications, income of spouse, assets, liabilities, financial stability, continuity of occupation, savings etc.

    Upon application, India Infoline Housing Finance Limited (IIHFL) will request for the following documents:

    • Completed application form, duly signed by primary applicant and co-applicants (if any).
    • One passport sized photograph (for co-applicants as well, crossed signed for self-verification).
    • Identity proof- This can include Passport, Driving License, Voter’s ID, PAN Card, Aadhar Card etc.
    • Verification of Signature- PAN Card, Passport or Authentication letter from the bank.
    • Proof of Residence- Passport, Voter’s ID, Telephone bill that isn’t older than 3 months, Ration Card, Bank passbook with address, Latest utility bill (electricity, water etc).
    • Financial 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.

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    IIFL Home Loan Reviews

    • IIFL Home Loan
      "Shoul Improve"
      0.5 2.0/5 "Expected more"
      I applied for a Home loan here and it was processed on time as it took just a week time where as other banks takes plenty of time to process. Approval was quick and after that the service which i am experiencing from them is not satisfactory. I have given a request to deduct the Emi from my salary account automatically, but they ask me to pay through on-line every month. This is a big head ache and i would suggest bank to work on this. Sometimes it get delays and even my credit score gets affected because of this.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 10, 2018
    • IIFL Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My home loan was taken with IFL 6 months back. The loan amount was 21 lakhs and the interest rate was very high than other banks. The tenure period was 7 years . The customer service and responses was also not good here. They did not sanction the loan within the committed time and the processing fee was also high.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jul 07, 2018
    • IIFL Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My home loan was taken with IFL 6 months back . The loan amount was 21 lakhs and the interest rate was very high than other banks. The tenure period was 7 years . The customer service and responses was also not good here. They did not sanctioned loan with the committed time and the processing fee was also high.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 06, 2018
    • IIFL Home Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      It has been a very good experience with them. The loan amount which they had provided had been satisfactory and interest rate with them had been quite high compared with the other banks. The process in getting the loan had been lengthy and had taken almost eight months to disburse the loan amount.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Jul 06, 2018
    • IIFL Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience with IIFL was very good, the loan amount was for Rs 24 lakhs with nominal interest rate when compared to others in the market. Customer service was good, they followed up on time and their response was on time. The tenure period for this loan is for 20 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 02, 2018
    • IIFL Home Loan
      "Fabulous"
      0.5 4.0/5 "Great!"
      I am having the Home loan with the India Infoline Finance Limited and the customer service is good and the EMI is not yet started. I would like to say that the rate of interest is around 8.5% for the Home loan.
      Was this review helpful? 4
      , pune
      Reviewed on Jun 28, 2018
    • IIFL Home Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I got my housing loan form India info-line housing finance . Am not satisfied with rate of interest which is too high The customer service and response is good. It took 10 to 15 days for the documentation and approval process. They gave the tenure period of 7 years which i make the payment through ecs . Their customer service is hard to approach. Even they have processing fees which is quite high.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jun 12, 2018
    • IIFL Home Loan
      "THEY R CHEATER AND VERY VERY BAD SERVICE"
      0.5 0.5/5 "Unacceptable"
      I purchased a flat in greater noida in april 2017 and i took a home loan ammount 20Lakh from koushambi branch ghaziabad, they did not give me PMAY subsidy at that time they told me that they dont have any subsidy, afetr taken loan i have known that they have PMAY subsidy, i talk to branch but very time they give me excuse after, they are giving me excuse from last 4 month, and his service also very bad, after getting my 12 lakh demand draft they have hold my demand draft, now i am live in mumbai they telling me that now again they want my cheque, very bad service, guys dont take any type of loan from IIFL, many good bank r available in the market. IIFL dont deserve even 1 star
      Was this review helpful? 24
      , noida
      Reviewed on Mar 27, 2018
    • IIFL Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      The customer service was good from IIFL. Initially everything was ok but now it is not good actually i am not getting a proper response from their side for my queries . They gave me a full approval on the amount i asked for . The money got disbursed in 3 installments to my account . The Rate of interest was 9.55% they charged and the processing fee was there of 2K . Pre closure is there charges are there with nominal to be charged .
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 29, 2017
    • IIFL Home Loan
      "Good Home Loan"
      0.5 3.0/5 "Satisfactory"
      The Interest Rate is 8.5%, which I felt is a little higher than what government Bank offers. The Process for the application got over quickly and documentation required was pretty low too. It's difficult to reduce the Rate of Interest with them.
      Was this review helpful? 2
      , faridabad
      Reviewed on Dec 01, 2017
    • IIFL Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The service was good and I am a new user of IIFL the interest rate was 8.5 which was little high compare to others in the market the documents were door step the staffs are very supportive ,it was a excellent experience from IIFL for my home loan service .
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 29, 2017
    • IIFL Home Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      IIFL housing loan process is very good, rate of interest is 9.25% which is the best. I had just taken this loan before 4 months, Processing fee charged was 35 k it was okay. They had taken around one month to provide this housing loan and it is a joint loan.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 30, 2017
    • IIFL Home Loan
      "They provide customer friendly service"
      0.5 3.0/5 "Satisfactory"
      IIFL interest rate was not up to the mark, initially they gave me the interest rate of 9.65% but Hdfc ltd offering 8.35%, hence I am going to do balance transfer. India infoline customer service is not support, I asked them to reduce the interest rate its EMI is going for 9.65% it was huge. I spoke them to reduce they told maximum can be done 8.65% its good.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 12, 2017
    • IIFL Home Loan
      "Pathetic- IIHFL home loan"
      0.5 0.5/5 "Unacceptable"
      This housing finance(iihfl) is a Trap. they lure you and once you enter you can never exit. they have worst customer service. First they deduct extra money in name of processing fee. Later u suffer a lot in name of customer service. simple query gets response from them in 2 months. PATHETIC. I am planning to change my bank. they are not allowing for that as well. .. willing to take this further in court.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 28, 2017
    • IIFL Home Loan
      "Its fine "
      0.5 2.5/5 "Just OK"
      IFL housing loan process is average, its neither good nor bad its okay. The first and the best thing about them is they were able to provide the loan amount what ever I had asked for. On the contrary, they take a lot of time to process the request. Also they are not providing the best interest, but it is line with the market rate. The processing time is very much average. As they took around a months time to provide the loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 16, 2017
    • IIFL Home Loan
      "Not to go for it"
      0.5 3.0/5 "Satisfactory"
      I was in a hurry to finalize the property and I had been asked to do it quickly as the property was already approved with INDIA INFO LINE. I decided to goahead with that. The rate of interest offered by them was 12% which was way too high which is dislike the most. I am planning to do a balance transfer in the next 6 months only because of the rate of interest.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 26, 2016
    • IIFL Home Loan
      "Not satisfactory"
      0.5 1.0/5 "Really Bad"
      I have not had a good experience with India Infoline Housing Limited for my home loan. There was no response from them. They also had a lot of hidden charges. I was told there would not be any processing fees and later I was charged.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Dec 12, 2015
    • IIFL Home Loan
      "Not happy.."
      0.5 1.0/5 "Really Bad"
      India Infoline Housing Limited have high rate of interest. It was like 9.9% where they reduced to 9.65 but they could have been reduced still for an existing customer. The home loan rate got decreased but they did not reduce me. I wrote a letter but no response.
      Was this review helpful? 3
      , bangalore
      Reviewed on Nov 03, 2015
    • IIFL Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      India infoline housing finance ltd offered me a good rate of interest for my home loan. The services has been good. They responded well. The process took just four days. They also waived off the processing fee. The interest rate is not fixed rate.
      Was this review helpful? 6
      , mumbai
      Reviewed on Aug 28, 2015
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