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  • IIFL Home Loan

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  • Apply for a housing loan with IIFL with attractive interest rates starting from 9.75% p.a. and opt for different types of IIFL home loans to suit your needs. Avail up to Rs.2 crore to purchase a ready-built house/flat or for new constructions.

    Interest Rate 9.75% p.a. onwards
    Loan Amount Up to Rs.2 crore
    Processing Fee Rs.3,000 to 0.75% of the loan amount
    Prepayment Charges Individual: For Full/Part Prepayment – Nil
    Non-Individual: For Part Prepayment – 5% within the 1st year of disbursement and 1% after the 1st year of the last disbursement. For Full Prepayment – 5% within the 1st year of disbursement and 3% after the 1st year of the last disbursement.
    Maximum Tenure Up to 30 years
    Rate Packages Available Floating

    IIFL Home Loan Schemes

    IIFL offers various types of housing loan schemes to cater to different requirements of its customers. Below are the different loan schemes offered by IIFL:

    IIFL New Home Loan

    Key highlights:

    • Attractive interest rate starting from 9.75% p.a.
    • Loan tenure of up to 30 years.
    • Loan tenure of up to 20 years for self-employed.
    • Affordable Equated Monthly Instalments (EMIs).
    • Quick and hassle-free process.
    Interest Rate 9.75% p.a. onwards
    Processing Fee Rs.3,000 to 0.75% of the loan amount

    IIFL Swaraj Home Loan

    Key Highlights:

    • Housing loan up to Rs.20 lakh.
    • Caters to first time home buyers who may or may not be supported by formal income documentation.
    • Apply for home loan at zero credit history and with low/unstructured income.
    • Loan tenure of up to 20 years.
    • Maximum funding of up to 85% for Rs.20 lakh loan.
    • At least one female co-applicant is mandatory.
    • Loan available for customers who may not have complete income documents such as bank statement and income proofs.
    Interest Rate 11.25% onwards
    Processing Fee 1.5% of the loan amount

    IIFL Home Improvement Loan

    Key Highlights:

    • For the purpose of home enhancements such as flooring, tiling, painting, plaster, etc.
    • Also, for purposes such as building an extension of your house, kitchen renovation, loft conversion, bathroom fitting, garden design, etc.
    • Loan tenure of up to 30 years for salaried and 20 years for a self-employed individual.
    • Attractive rate of interest.
    • Affordable EMIs.
    • Quick and hassle-free loan process.
    Interest Rate 9.75% p.a. onwards
    Processing Fee Rs.3,000 to 0.75% of the loan amount

    IIFL NRI Home Loan

    Key Highlights:

    • Applicants must be residing in the USA/Canada/East Asian Countries/the Middle East/European Countries (except Spain, Greece, Italy, Portugal)/Australia/New Zealand.
    • Loan for the purpose of purchase of a house/flat or for repair/renovation/extension of the house or for construction of the house on a plot or for purchasing an existing flat/house.
    • If you’re buying land as an NRI, then the land should be only for residential purpose, the premise should be located within municipal limits, and it should be a non-agricultural land.
    • Loan tenure of up to 20 years for a loan amount of up to Rs.75 lakh.
    • Loan tenure of up to 15 years for loan amount above Rs.75 lakh.
    Interest Rate 9.75% p.a. onwards
    Processing Fee Rs.3,000 to 0.75% of the loan amount

    IIFL Home Loan Balance Transfer

    Key Highlights:

    • Low processing fee and tax benefit.
    • Zero evaluation charges for collateral.
    • Loan tenure of up to 30 years.
    • Quick and hassle-free loan process.
    Interest Rate 9.75% p.a. onwards
    Processing Fee Rs.3,000 to 0.75% of the loan amount

    IIFL Pradhan Mantri Awas Yojana

    Key Highlights:

    • Under the EWS/LIG, the maximum subsidy is Rs.2.67 lakh.
    • Interest subsidy at a rate of 6.5% p.a. for a loan tenure of 20 years or the loan tenure, whichever is lower.
    • The subsidy can be availed for loan amounts of up to Rs.6 lakh; for a loan amount of more than Rs.6 lakh, will be at non-subsidised rate.
    • Aadhar card is mandatory.
    • Under the MIG, applicants with household income between Rs.6 to 12 lakhs in urban areas fall under the MIG 1 category and Rs.12 to 18 lakhs fall under MIG 2 category.
    • Under the MIG 1, the interest rate subsidy of 4% on housing loans up to Rs.9 lakh for a tenure of 20 years or tenure of the loan, whichever is lower.
    • Under MIG 2, interest rate subsidy of 3% on housing loans up to Rs.12 lakh for a tenure of 20 years or the loan tenure, whichever is lower.
    • Maximum subsidy under MIG is up to Rs.2.35 lakh.
    • Under MIG, the subsidy is credited upfront to the beneficiary of the loan account, thereby reducing the effective housing loan EMI.
    • Aadhar card is mandatory.
    Effective Interest Rate 7.76% p.a.
    Processing Fee Same as regular IIFL home loan

    IIFL Home Loan EMI Calculator

    Calculate the Equated Monthly Instalment (EMI) payable towards your home loan using the IIFL Home Loan EMI Calculator. The minimum EMI per lakh is Rs.859.

    Enter the required details such as the amount of loan, rate of interest, tenure of the loan and processing fee on the Home Loan EMI Calculator and click on ‘Calculate’. You’ll be provided with the breakup of the total amount payable along with the EMIs payable during the tenure and the total interest due.

    IIFL Home Loan Eligibility Criteria

    Salaried

    • Indian Citizen

    • Within age band of 18 to 70 years

    • Co-applicants can be your close relatives, spouse, partnership firms, and private limited company.

    Self-Employed

    Documents Required for All Home Loan Applicants Under IIFL

    Below are the set of documents required to apply for a home loan from IIFL:

    Salaried:

    • Identity Proof:
      • PAN card (mandatory).
      • Voter ID.
      •  Aadhar card.
      • Valid passport.
      • Driving license.
      • Photo of your credit card.
      • Photo identity card issued by Government body.
      • Letter from a recognised public authority or public servant verifying the identity with photograph (not more than 30 days old).
    • Address Proof (anyone):
      • Voter ID.
      • Aadhar card.
      • Valid passport.
      • Letter from a public authority or public servant verifying the identity and address of you.
      • Rent agreement on stamp paper.
      • Latest utility bill.
      • Credit card statement not older than 3 months.
      • Bank statement with the address of borrowers of any commercial or nationalised bank.
      • Life insurance policy.
      • Residence address certificate/letter by the employer on company letterhead.
      • Municipal or property tax receipt.
      • Copy of Sale Deed of the property (residence), if owned.
      • Post office saving bank account statement.
      • Documents issued by Government departments of foreign jurisdiction and letter issued by Foreign Embassy or Mission in India.
      • Letter of allotment of accommodation from employer issued by State or Central Government departments, public sector undertakings, statutory or regulatory bodies, scheduled commercial banks, financial institutions and listed companies.
      • Leave and license agreements with such employers allotting official residence.
      • Pension or family pension payment orders (PPOs) issued to retired employees by Government departments or public sector undertakings, if they include the address.
    • Proof of Income (all documents):
      • Last two months’ salary slips.
      • Last 6 months’ bank statement of your salaried account.
      • Latest Form 16/Income Tax Returns (ITR).
    • Other Documents:
      • Related to existing loans along with 6 months’ repayment bank statements.
    • Property Documents (all documents):
      • Copy of complete chain documents of the property.
      • Copy of the Allotment Letter/Buyer Agreement (if applicable.
      • Copy of Agreement to Sell (if executed).
      • Copy of Receipt of payments made to the builder/developer (if applicable).

    Self-Employed:

    • Identity Proof:
      • PAN card (mandatory).
      • Voter ID.
      • Valid Passport.
      • Aadhar card.
      • Driving License.
      • Photo of your credit card.
      • Photo ID issued by Government body.
      • Letter from a recognised public authority or public servant verifying the identity of the customer with photograph (not more than 30 days old).
    • Address Proof (anyone):
      • Voter ID.
      • Valid Passport.
      • Aadhar card.
      • Latest utility bill.
      • The rental agreement on stamp paper.
      • Letter from a recognised public authority or public servant verifying the residence and identity of the customer.
      • Bank statements reflecting the address of borrowers of any commercial nationalised bank.
      • Credit card statement not older than 3 months.
      • Life Insurance Policy.
      • Copy of Sale Deed of the property (residence), if owned.
      • Property tax receipt.
      • Post office saving bank account statement.
    • Address Proof for Business Entities (anyone):
      • Shops and establishment certificate.
      • Trade license certificate.
      • SSI registration certificate.
      • Partnership Deed (for firms)/Memorandum of Association (MOA) for companies.
      • PAN card/Sales Tax/VAT Registration Certificate.
      • Export-Import code certificate/Factory Registration Certificate.
      • Professional qualification certificate and Degree Certificate for professionals.
      • The registration number issued by ROC.
      • SEBI registration certificate.
    • Proof of Income (all of the below):
      • Income Tax Returns (ITR) along with the calculation for the last two financial years.
      • Balance Sheet, and Profit and Loss account along with all annexures (certified by a CA and audited if applicable).
      • Last six months current account statement of the business entity and saving account statement of the individual.
    • Other Documents (all of the below):
      • Documents relating to any existing loans along with six months’ repayment bank statement.
      • MOA for private limited companies.
      • Latest list of the shareholding pattern (duly certified by CA/CS).
      • Partnership Deed.
    • Property Documents:
      • Copy of complete chain documents of the said property.
      • Copy of the Allotment Letter/Buyer Agreement (if applicable).
      • Copy of agreement to sell (if executed).
      • Copy of receipt of payments made to the builder or developer (if applicable).

    IIFL Home Loan FAQs

    1. How do I make a home loan application?
    2. You can apply for a home loan through IIFL’s online or you could call them on their helpline number: 1860-267-3000 for assistance.

    3. What do EMI and Pre-EMI interest mean?
    4. An EMI is the Equated Monthly Instalment, which is the monthly repayment amount towards your home loan on a specific date until your housing loan is paid in full. As for the Pre-EMI interest, is when you avail a part of your housing loan, IIFL charges simple interest on the amount that has been paid till the complete amount is disbursed.

    5. Who are eligible to apply for the IIFL home loan?
    6. Indian citizens between the ages of 18 to 75 years and are either salaried or self-employed can apply for a housing loan from IIFL.

    7. Can I apply for the IIFL home loan along with a co-applicant, if so, who can be my co-applicant?
    8. Yes, you can apply for a housing loan from IIFL along with a co-applicant, but it’s not mandatory. If you’re an individual, a co-applicant can be your spouse, parents or even your major children. Also, it may be noted that a co-owner of your property has to be a co-applicant, but a co-applicant need not necessarily be a co-owner. In case it’s a non-individual, partnership firms, an LLP, and a private limited company can apply as a co-applicant.

    9. What’s own contribution?
    10. The difference between the property value less the home loan you have been sanctioned is own contribution.

    11. What’s the eligibility criteria for an NRI?
      • An Indian citizen with a valid passport.
      • Passport not having ‘NO ENTRY’ stamp.
      • Passport with a valid entry visa for NRI home loan applicant.
      • For PIO/OCI, valid PIO/OCI card copy along with the foreign country passport.
    12. Which are the countries where the NRI must be employed to avail the NRI home loan?
    13. The NRI home loan applicant should be from the below countries:

      • USA and Canada.
      • Middle East: UAE (Dubai, Sharjah, Abu Dhabi only), Riyadh, Bahrain, Muscat.
      • East Asian Countries: Malaysia, Singapore, Japan, Hong Kong, Thailand.
      • EU Countries: Except Spain, Greece, Italy and Portugal).
      • New Zealand and Australia.
      

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    IIFL Home Loan Reviews

    • IIFL Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      From IIFL, i have taken the home loan and the process was not lengthy and the follow up was good. IIFL people approach was prompt and they offered me a low interest rate of 8.35% and the loan amount also they have increased what I'm looking for. Earlier they offered me only Rs. 15 lakhs after that they have sanctioned more than 16 lakhs.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2019
    • IIFL
      IIFL Home Loan
      "very Good"
      0.5 4.0/5 "Great!"
      I have selected india infoline housing finance loan amount is 7 lakhs , Rate of interested 8.75 percentage .There is no one time processing fee is not charger , EMI Rs 8000, preclouser is not there locking period 6 month . while document submitted through executive, there is no delay while disbursal, customer service is good and responsive.They given clear information about loan process.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 22, 2019
    • IIFL Home Loan
      "Services not satisfactory"
      0.5 3.0/5 "Satisfactory"
      India Infoline has provided me a worst services. Their customer care is very slow in responding and most of the times, they are not responding at all. They have provided me a interest rate of 9.75% first they said like the interest rate was 8.75% and without any information they have raised the rate of Interest. I took the loan amount of Rs. 10.80 lakhs and i pay the EMI of Rs. 10,060 for next 22 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 04, 2019
    • IIFL Home Loan
      "Fraudster/Cheater - Interest Rate is Too High"
      0.5 0.5/5 "Unacceptable"
      Please don't take any loan from IIFL. They all are Fraudster specially the Chandigarh branch office. One of the worst home loan. They charged 15% interest on home loan. The loan amount was 13 lakhs and the interest rate was very high compare to other banks. The tenure period was 20 years . The customer service and responses was also not proper here.
      Was this review helpful? 1
      , chandigarh
      Reviewed on May 29, 2019
    • IIFL Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have a home loan with India Infoline and it was taken 4 years ago. The customer service is average. The interest rate is 8.25% which is competitive and there was a processing fee. I need to pay the loan for 20 years and have purchased a residential property. The process was simple.
      Was this review helpful? 0
      , noida
      Reviewed on May 14, 2019
    • IIFL Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      INDIA INFOLINE HOUSING FINANCE LTD is the institute where i have taken the housing loan instantly, the documentation process was done on time, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was nominal, now more 19 years to go to close this loan.
      Was this review helpful? 1
      , indore
      Reviewed on May 03, 2019
    • IIFL Home Loan
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      INDIA INFOLINE HOUSING FINANCE LTD is the institute where i have taken the housing loan with this and using it since from lat few years. The documentation process done on time. They have given the loan amount which was sufficient and the rate of interest was 8.35%, duration is for 20 years for repaying the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 27, 2019
    • IIFL Home Loan
      "Very faster response"
      0.5 5.0/5 "Blown Away!"
      When I am looking for housing loan, IIFL immediately responded to my request . I got a very good customer response for verifying my documents . They processed the loan within one month of time . They sanctioned the loan with the average interest rate for next twenty years .
      Was this review helpful? 3
      , new delhi
      Reviewed on Apr 22, 2019
    • IIFL Home Loan
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      I have previously used the housing loan with the INDIA INFOLINE HOUSING FINANCE LTD and transferred to another bank because the rate of interest was higher. They have offered the pre approved so taken. There are hidden charges applicable also it is floating rate of interest with this bank which was 32% which am not happy.
      Was this review helpful? 2
      , mumbai
      Reviewed on Apr 19, 2019
    • IIFL Home Loan
      "They need to reduce rate of intrest "
      0.5 2.5/5 "Just OK"
      My housing loan was taken with IIFL INSTITUTION , the tenure period is 25year . I use to pay EMI on time .There rate of interest is high compare to others in the market they have charge processing fee also. The loan got delay so much the process is very slow. Customer service is good .
      Was this review helpful? 5
      , pune
      Reviewed on Feb 19, 2019
    • IIFL Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan experience was good with IIFL.The loan amount was based on my requirement and the rate of interest was nominal when compared to others in the market. Customer service was good and they responded on time. Tenure period for this loan is 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 16, 2019
    • IIFL Home Loan
      "Simpler Process"
      0.5 3.5/5 "Pretty good"
      I have a purchased a home loan from IIFL. Its because of the simplest process i have purchased from them. I bought the loan amount of Rs. 41 lakhs. This is a pre-EMI approved hence I'm not sure about the interest rates. The processing fee is very less. I have chosen the tenure period of 24 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 02, 2019
    • IIFL Home Loan
      "Not Happy "
      0.5 1.0/5 "Really Bad"
      I have applied for home loan in IIFL and they have hold my disbursement due to insurance. They are forcing to take property insurance of 60000 and this was not informed earlier. Please let me know if insurance is compulsory or can we take insurance from some other bank.
      Was this review helpful? 15
      , mumbai
      Reviewed on Dec 12, 2018
    • 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? 3
      , 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? 8
      , 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? 5
      , 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? 7
      , 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? 6
      , hyderabad
      Reviewed on Jun 12, 2018
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