A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • 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.

    Perfect Home Loan Deals for you

    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
      "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
      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? 0
      , 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? 14
      , 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
    • 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? 40
      , 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? 6
      , 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? 4
      , faridabad
      Reviewed on Dec 01, 2017
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