Eligible borrowers can now avail Indiabulls home loans from Rs.2 lakh and up to Rs.3 crore with interest rates ranging between 8.75% p.a. and 11% p.a. on floating rate type loans. The interest rates associated with fixed rate type housing loans ranges from 9.25% p.a. to 11.20% p.a. depending on the profile of the applicant. The loan can be availed for a maximum period of 30 years. The processing fee associated with these loans stands at 0.50% of the loan amount plus applicable taxes. Furthermore, women borrowers are offered interest rate concession of 0.05%.Â
Headquartered in Gurgaon, Indiabulls is one of India’s largest Housing Finance Company (HFC). Recognised for its eminence in providing financial services at competitive prices, Indiabulls is rapidly growing its network across the nation. One of their more popular products is the home loans they offer. Indiabulls home loans can be availed by visiting their branch or applying online.
Indiabulls Bank Home Loan Interest RatesUpdated on 16 Jun 2019
Indiabulls Bank Home Loan Details
Interest Rate (Floating)
General Borrowers - 8.75% to 11.0% Women Borrowers - 8.70% to 10.95%
Indiabulls Home Loans gives you an opportunity to live your dream of owning a beautiful house. Indiabulls home loan schemes have been especially designed to suit the varied needs of individual customers.
Complete assistance from the Indiabulls customer counselling team, doorstep service, instant approval, quick processing, document checklist service and quick disbursal of the loan make the company a very popular choice for availing home loans.
Indiabulls will guide you through every step of the entire process – from thinking of owning a house to actually acquiring it.
Indiabulls Housing and Finance Ltd. is one of the leading and most preferred brands in real estate and housing in the nation. By providing comprehensive tools like Home Loan Eligibility Calculator, EMI Calculator, Tax Benefit Calculator, the company makes sure that the borrower gets the best deal.
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Indiabulls home loan interest rates
India Bulls aims to provide the best cost effective housing loan in the market and hence offers attractive rate of interest on its housing loan. The bank offers a floating interest Rate starts at 8.55% to a maximum of 10.75% for its general customers. The bank offers a special rate of interest for its women customers at a floating rate of interest at 8.50% to 10.75%
Indiabulls Home Loan Variable Rate of Interest
Home loan amount
Variable Rates (%)
Upto and including Rs. 75 lacs
8.80 % to 10.35%
More than Rs. 75 Lacs and upto Rs. 300 lacs
9.00 % to 10.95%
More than Rs. 300 Lacs
9.25 % to 11.00%
Note: ROI to be 0.05% higher if property is not owned/co-owned by women borrower/co-borrower.
Features and benefits of Indiabulls home loan
The maximum offered tenure for repayment of loan is 20 years.
Instant loan application and approval on the corporate portal.
Very attractive and competitive rate of interest.
Hassle free application process with quick turnaround time.
Customer centric approach, immensely flexible and robust support.
Save tax per Section 24 and Section 80C of the Income Tax Act.
The maximum loan on offer is 80% of the overall cost of the property. This rule applies for loan amountsexceeding Rs.20 lakhs. For loans up to Rs.20 lakhs, the maximum loan offer is 85%.
Flexibility to apply for the loan either individually or jointly. Co-applicants need not be co-owners.
Indiabulls home loan eligibility criteria
The applicant must satisfy the following conditions to be eligible for the loan:
He/she must be a resident Indian. NRIs can only apply for the NRI Home Loans.
The loan amount can only be used to purchase properties in India.
The applicant must be older than 21 years and must not be over 65 years at loan maturity.
He/she must have a steady source of income, as proved by accompanying documents.
He/she must have a good credit history, with no obvious red flags.
Documents required for Indiabulls home loan
The following lists the documents to be submitted at the time of loan application,
Duly filled and signed application form
Processing Fee Cheque
Identity proof with date of birth mentioned
Proof of residence/address
Income documents -
For salaried individuals: Salary slips, Form 16 and bank statement
For self-employed individuals: ITRs with financial statements, Bank statement
Property Documents
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IndiaBulls home loan fees and charges:
Processing fees:
Upto Rs.10,000 for a loan amount of upto Rs.28 lakh.
Upto 0.5% for loan amount between Rs.28.01 lakh and Rs.300 lakh.
0.5% to 1% for loan amount above Rs.300 lakh.
ECS / PDC – Rs.250
Late payment -24% p.a. of the outstanding EMI.
Statement account charges or amortization schedule – Rs.200.
Retrieval of documents – Rs.5000.
Transaction handling charges – Rs.2,500.
Database admin fee – Rs.650.
Indiabulls home loan EMI calculator
As with its offline namesake, a Home Loan Calculator (home loan EMI calculator, is also a common name) allows a user the convenience of calculating his/her home loan Equated Monthly Installments (EMI), electronically and with a minimal input of time. A prime example of such a time-saving, interactive and friendly Home Loan EMI Calculator can be found on BankBazaar.com. This tool offers the following discerning advantages-
Quick Turnaround: EMI calculations accomplished in mere seconds.
Comprehensive Info: All facets of your home loan EMI, explained and attractively displayed.
Experiment: Try different tenures and interest rates, find the best combination for you.
100% Free: This lightning fast tool is completely free to use.
How to apply for Indiabulls home loan through BankBazaar.com?
Applying for an Indiabulls home loan from BankBazaar.com is immensely simple and highly interactive. The following steps are involved in this procedure,
Logon to BankBazaar.com. On the homepage, seek the navigation panel that is located at the top. Herein, select the second menu item ‘LOANS’ and in there, the second option on the drop-down, ‘Home Loan’. Next, select ‘Indiabulls Home Loans’ from the adjoining slab.
The resultant page details home loans from Indiabulls. You will find a number of strategically placed options here, including ‘Check if you are eligible’, ‘Check how much you can borrow’, etc. Select an option to launch the corresponding action.
The ‘Apply Now’ button is displayed prominently while nearing the bottom end of this page. Clicking on this will start off the process. Your application will next be forwarded to Indiabulls for further processing.
Track the status of your application through SMS and email alerts. BankBazaar’s expert customer support team will always be at hand to address all your queries and concerns.
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Why apply for Indiabulls home loan on BankBazaar.com?
Comparative Study:The website gives you the option of comparing Indiabulls Home Loans against the loans offered by other financial organizations/banks. You can also take help from the customer care team to assist you with all your queries.
Credibility:You can get all the information related to Indiabulls Home Loans in detail. Be it the terms and conditions, interest rates or any other unique information. The best part being that all information is updated and readily available.
Quick and Convenient:Apply for Indiabulls home loan from the comfort of your office/home. Refer to BankBazaar.com to check out all the features, and make the application and documentation a very quick and smooth process. The loan disbursal will happen in quick time.
Privacy:The personal information you provide, with regards to the loan application, will be shared only with Indiabulls. Apart from this, it will be treated with the utmost care and kept completely private.
Home loans including loans for NRIs
This is the standard loan, applicable for resident Indians who wish to purchase property in India. A comprehensive package that is intended for the smart borrower, the India bulls home loans offer a range of features and benefits that are customized for the Indian context, and in line with the express requirements of an Indian subscriber. If you are an NRI , and currently residing in the UK or Dubai, Indiabulls offers a powerful medium to purchase property in India, without having to compensate or overpay to balance out your NRI status.
Indiabulls home loans against property
Indiabulls offers loans against property. This scheme comes with multiple advantages to its borrowers. Funds can be generated by unlocking the property value along with the luxury of staying in the house, and can also satisfy the need for any immediate expenses. It can also be used for something like buying another house/property or business expansion.
FAQs On Indiabulls home loan
What type of property can be purchased with the Indiabulls Home Loan?
Purchase of flats, apartments, independent house, bungalow etc.
Property that is part of an existing owner’s association or co-operative housing society.
Residential plots, constructing a new house, buying a plot and then building a house.
Extending your current home by adding rooms, floors, etc.
Renovation and/or repair of the current residential property.
What are the applicable processing fees charged prior to loan disbursement?
Loan Amount.
Applicable Processing Fee.
Upto Rs.28 lakhs
Rs.7,500
From Rs.28 lakhs to Rs.50 lakhs
Maximum 0.50% of the loan amount
Above Rs.50 lakhs
Upto 0.50% to 1.00% of the loan amount
Who must I choose as co-applicant(s) for the loan?
Any immediate family member (must be related by blood).
Spouse, Children
Remember that the co-applicants need not necessarily be co-owners.
What is the maximum available repayment tenure?
The maximum repayment tenure is 30 years. However, the term is limited to the applicant attaining the age of 65 years or the accepted retirement age, whichever comes first.
Name the various formats of home loans extended by Indiabulls?
Home loans are offered when the applicant needs the same for the following conditions-
To purchase a brand new house
To buy a residential plot and then construct a house
When applicant transfers his/her balance from another lender to Indiabulls
Indiabulls Housing Finance Down After Macquarie Cuts Price Targets by 29%
Indiabulls Housing Finance shares was down by a percentage in Wednesday after Macquarie, a global research house, cut its price target on the stock by 29%. NBFCs have funded 85% of incremental real estate book in last five years. Macquarie said the funding situation has been normalised slightly for NBFCs; however, they remain tight. The research house cut its target price to Rs.836 from Rs.1,170 per piece. On the Bombay Stock Exchange (BSE), the stock of Indiabulls Housing Finance was quoting at Rs.658.45, declining by Rs.1.05 or 0.16%. This was at 13:00 IST.
6 March 2019
Indiabulls Housing Finance jumps 2% before cutting down gains later
Indiabulls Housing Finance’s shares jumped 2% on the Bombay Stock Exchange (BSE) after reports claimed that the non-banking finance company (NBFC) had raised over Rs.23,600 crore in the last 2 months through loan portfolio sales and debt capital market. However, as the session progressed, the stock failed to hold onto to its gains and dropped flat towards the end. The scrip was recorded trading at Rs.707.55, up 0.02% on BSE at 10 am. Despite the NBFC sector’s liquidity crisis after the Infrastructure Leasing and Financial Services (IL&FS) defaulted on its debts during the quarter ended 30 September 2018, the company has been able to raise significant funds owing to a combination of loan portfolio sales and debt capital market, with the objective of maintaining high levels of funds.
5 December 2018
Indiabulls Housing Finance increases home loan interest rates by over 20 basis points
In order to counter the impact of the rising funding cost on the company, Indiabulls Housing Finance has reportedly announced a hike in the home loan interest rates by over 20 basis points (bps) or 0.20%. For home loans up to Rs.35 lakh, the rate of interest applicable to women applicants and co-applicants stand at 8.80% while the for other applicants and co-applicants, the interest rate on the same loan amount starts from 8.85%. Similarly, the rate of interest applicable to women applicants and co-applicants for loan amount above Rs.35 lakh has been raised to 8.95% while the interest rate for other applicants and co-applicants on the same starts from 9.00%. According to reports, the rise in interest rates can be the result of the rising cost of funds for the company.
12 November 2018
Indiabulls Housing Finance hikes interest rates on home loans by up to 20 points
In a filing to the BSE on Tuesday, Indiabulls Housing Finance announced that the interest rates on home loans have been hiked by up to 20 points. The announcement was made a few days after the Reserve Bank of India’s (RBI) bi-monthly monetary policy review meeting held on 05 October 2018. However, the RBI announced that there will be no change in the key policy rates. The repo rate and reverse repo rate has been kept unchanged at 6.50% p.a.and 6.25% p.a. after hiking the key rates twice in the last two monetary policy reviews. Other commercial banks and financial institutions have also made changes to the marginal cost of funds based lending rates (MCLR). This, in turn, will be passed on to the interest rates on the home loans. According to reports, women applicants/co-applicants can avail Indiabulls Housing Finance home loans up to Rs.35 lakh at an interest rate of 8.80%. For loans amounts above Rs.35 lakh, the rate of interest applicable to women borrowers is set at 8.95%. The lowest slab of loan amount was raised from Rs.30 lakh to Rs.35 lakh by the bank in August so that a wider range of customers can benefit from the best possible rate.
9 October 2018
Indiabulls housing finance: Home loan interest rates likely to remain under 9%
According to Ashwini Hooda the Deputy Managing Director of Indiabulls Housing Finance, home loan interest are expected to be hiked but not more than the average 9% in FY19. Hooda comments came only a few days after the Reserve Bank of India hiked its key rates with the repo rate standing at 6.50% - an increase of 25 points - and the reverse repo rate holding at 6.25%. The company also announced its financial results for Q1 FY 2018-19 on Thursday. The Indiabulls Housing Finance recorded a consolidated net profit of Rs.1,049 crore - a 30% rise - for the quarter. On the other hand, HDFC reported a net profit growth of 54% owing to its healthy growth individual loan in the affordable housing segment.
9 August 2018
Indiabulls Housing Finance hike home loan interest rates by 20 basis points
Indiabulls Housing Finance Ltd. (IBHFL) has announced an increase of 20 basis points (bps) on home loan interest rates. The hike in interest rates is a result of the consecutive raise on repo rate by the Reserve Bank of India (RBI). The repo rate was raised by 25 bps to 6.50% on Wednesday. Women borrowers can now avail home loans up to Rs.35 lakh with interest rates starting from 8.7% and for loans above Rs.35 lakh, the rate of interest starts at 8.8%. For other customers, the rate of interest would be 5 bps higher. Both existing and new customers of IBHFL will be charged with new interest rates. All the existing customers will be communicated of the rise in interest rates via SMS and email to ensure that the information is passed on to everybody, announced the company.
8 August 2018
Indiabulls Housing Says Affordable Housing Sector Sees Sale Of 8,000-10,000 Units Every Month
Gagan Banga, the Vice Chairman and MD of Indiabulls Housing Finance in an interview has mentioned that the company is seeing the sale of around 8,000 to 10,000 units per month in the affordable housing sector. He accounted the figure to the company’s average ticket size which is around Rs.25 lakh and added that the company’s business is growing at an annualised rate of 35-40 percent. Gagan on being asked about the company’s borrowings, he stated that 80 percent of their borrowings came from bonds and other instruments. He was hopeful that interest rates would start moving up which will also result in home loan rates increasing in the near future.
9 April 2018
Deputy Managing Director Of Indiabulls Housing Finance Sees Premium Housing Blooming Late
Ashwini Kumar Hooda, the Deputy Managing Director of Indiabulls Housing Finance in a interview stated that he expected premium housing in the country to bloom later even though affordable housing is growing well in recent times. Hooda, who in the interview was asked a series of questions on varied topics shed light into the company’s business in the past and provided a roadmap of the future. On being asked about the company’s Q3 AUM growth, he said that that the company was able to grow faster than 30 percent in the past couple of years and in FY17 affordable housing constituted 33 percent of it. He added that in the current financial year the company expected it to be close to 35 percent. The Deputy Managing Director added that currently the company is getting higher ratings from international rating agencies as the company is now constituted of 60 percent home loan, 20 percent LAP and 20 percent construction finance unlike two years back. He was hopeful that the company would be able to achieve optimum mix by FY20. With regard to banks hiking MCLR, he added that for them it is not a concern as they primarily borrow from the bond which is cheaper than bank market. Hooda on being asked about expansion plans, he stated that they are going into tier-3, tier-4 cities and have opened nearly 80 low cost branches, which are purely technology based.
30 March 2018
Indiabulls Record a 35% Rise in Net Profit this Q3
India’s second largest housing finance company has registered a net profit of 35% in Q3 that ended December 2017. The registered net profit for Q3 was registered at Rs.11.67 billion. Last quarter ending September, the profit recorded by the company was Rs.8.61 billion. On a year-to-year basis, the company saw a 55.4% rise in net profit. The rise in profit is also associated with the fact that Indiabulls have sold 33% stake to OakNorth bank limited. This deal was closed at Rs.7.70 billion. It the company were not to account for this sale, their year-on-year profit growth would be 24%.
31 January 2018
Indiabulls Housing Finance Grows Remarkably, Reports a 55% Increase in Net Profit
For the third quarter of this fiscal year, Indiabulls Housing Finance Limited reported its consolidated net profit to be at Rs.1,167.73 crore - a 55.38% rise. Meanwhile, the revenues for the same term increased organically to more than Rs.4,000 crore.
Gagan Banga, the Vice-Chairman and Managing Director of the Indiabulls Housing Finance, spoke about the remarkable performance of the company and said that they aim to grow organically in the coming months.
He also appeared to be quite optimistic about the government’s efforts in the affordable housing sector and expected them to push it in the upcoming budget too.
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I never recommend indiabulls home loan to anyone. Earlier when i built a home i have taken loan from other company and they have offered me a loan with the rate of interest rate of 8.5% within a 3 months they have increased upto 9.5% and within a 1 year, they have increased 5 times. Even RBI says to reduce the interest rate also they won't reduce. They have a worst customer care and worst bank i never seen.
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2
RAJESH KUMAR D
, bangalore
Reviewed on Jun 09, 2019
I have taken the loan with the INDIABULLS home loan and changed to another bank because of rate of interest was higher than others and used for 5 years this loan. The documentation process was simple and easy to the loan but the process was not good.
I have taken my personal loan with non - financial institution through India bulls, the loan amount which they have given to me was good, i have taken this loan on 2017 december this coming december it is going to get closed soon, so far i did not face any issue.
Purchased my home loan from Indiabulls. I am not satisfied with the loan service because of the high rate of interest rate and very slow response for the query. I have to do a follow up many times to resolve the query. The given the rate of Interest is very high. As per the RBI guideliness they have not deduced the interest rate
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1
BHANUPRATAP SHARMA
, ghaziabad
Reviewed on May 28, 2019
I have taken a home loan in INDIABULLS for 2 years ago. As per my expectation I received the loan for home loan for the duration of 20 years.The rate of interest is low. The processing fee was applicable.The customer service is good and supportive on time.
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0
VIKRAM PATTANAKUDE
, pune
Reviewed on May 27, 2019
My housing loan was taken with INDIA BULLS , the services was good and process was smooth , i receive the loan on time . The tenure period is sufficent and they charge fine rate of interest which is nominal in the market . They gave option of preclosere and processing fee is nominal
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1
SOUGATA MAJUMDER
, kolkata
Reviewed on May 20, 2019
I have been holding my home loan with India bulls from long time, the loan amount which they have given to me was sufficient , the rate of interest they have charged me was nominal, they have previously charged me up to 8.45% but now it would be up to 9.45% one percent they use to increase every quarterly period.
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1
SAIPRASAD GOPARAJU
, hyderabad
Reviewed on May 14, 2019
It has been quite a good experience i had with the Home loan from INDIABULLS where the process was quite easy and quick. The interest rate with them had been quite competitive when compared with the market rate. There has been some processing fee which they had charged which has been nominal.
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0
LAKSHMI NARAYANA NEPPALI
, chennai
Reviewed on May 06, 2019
The experience with my Home loan from INDIABULLS has not been a good experience, where the processing time was taken more time and for everything i had to visit the branch. There was too much inconvenience faced and they where increasing the interest rate every month and it was not even reflecting in their mobile application.
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0
UMASHANKAR KUMAR
, mumbai
Reviewed on May 03, 2019
I closed India bulls home loan they are not responding prompt that is the reason I switched over to other bank. I took the loan amount of Rs. 65 lakhs for the tenure of 25 years. I would suggest they should provide proper response to the customer. The process was not streamlined they changed the paper without my consideration.
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0
NISHI KANT VERMA
, chandigarh
Reviewed on May 02, 2019
I had taken a Home loan from INDIABULLS almost an year back and the experience had been good, but the interest rate with them was around 9.95% which was pretty much high. The process was completed in almost ten days and their customer support team was quite responsive.
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0
GANAPATHI RAO RANDHI
, hyderabad
Reviewed on Apr 30, 2019
Indiabulls was not up to the mark on the home loan. The services are not satisfactory and they are not responsive as well. The rate of interest and processing charges is also on the higher side. In all I was not happy with the process. They are not recommendable as well.
I earlier had a home loan with Indiabulls. The rate of interest is very high and without any intimation, the interest was increased every 15 days. The interest rate was of 9.25%. The services is good and they are responsive as well. In all no hassles.
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0
GIRISH DAYABHAI TRAMBADIA
, ahmedabad
Reviewed on Apr 29, 2019
I did a balance transfer from India bulls mainly for the fluctuation of interest rate without any prior information . At the same time they stopped funding in recent times . I considered these things and it will not workout for a longer tenure period .
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0
PUNIT KUMAR KASHYAP
, delhi
Reviewed on Apr 29, 2019
I had taken a Home Loan from INDIABULLS a long time back where the process in getting the loan has been easy. The loan amount has been sufficient and the interest rate with them has been nominal. The processing fee and charges with them has been nominal and the loan is still running, There hasn't been any hassle faced with the services so far.
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0
HARIKRISHNA NALLAMOLU
, hyderabad
Reviewed on Apr 24, 2019
I do have housing loan with India bulls, the interest is normal. I took the loan amount of Rs. 25 lakhs now I need to pay only Rs. 2.5 lakhs. They quoted me the interest around 8.99% now they revised to 9.5%, I done lots of part payment without any charges. They are very helpful and supportive on the queries handling.
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0
PAVAN SRIRAMULA
, hyderabad
Reviewed on Apr 23, 2019
I hold my housing loan with Indiabulls for an while. They have given me loan on time without any delay, their service was good. The process in getting loan was simple, i got loan on time. Their rate of interest was nominal, still this loan is running.
I have taken the loan 2016 .. ROI 9.60 ( during the year 2016) after construction ROI 8.40 ... around 2017 year end. Now ROI for plot loan 10.60 and construction loan 10.90 . Initial tenure was 20 years ... because of this sudden change in ROI -- resulted my loan tenure is increase to 40 year. all EMI is going a interest component only . Please don't opt a loan from Indiabulls
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4
Elango Muthusamy
, bangalore
Reviewed on Apr 12, 2019
I have applied for the home loan with the INDIABULLS they have done the documentation process which was simple and quick process to get the loan. The loan amount got as per the eligibility criteria also the rate of interest was 10.65% which was higher. The customer service is good.
I am not satisfied with the INDIABULLS housing loan where i have previously taken because they have offered with the higher rate of interest at the beginning it was 8.5% latter it was 10% and used till 1.5 years and latter done balance transfer with another bank.
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5
SHAILESH CHAUHAN
, ahmedabad
Reviewed on Apr 02, 2019
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