8.80 % - 12 %
(If salaried) Salary slips, Form16 and bank statement
(If self-employed) ITRs with financial statements, bank statement
Founded in 2005, Indiabulls housing finance is one of the biggest mortgage lenders in the market. Started as a financial services company, it went on to become the second largest lender in the market receiving highest long-term credit rating of AAA from all four leading rating agencies in India. The swift, hassle-free and competitively priced home loans with a reliable return policy has earned Indiabulls housing finance millions of loyal customers around the country. Thier consistent perfomance have earned them over 1 million customers who have collectively disbursed home loans of over INR 1.97 trillion as of 2017 which showcases thier strong focus towards the goal of becoming a market leader.
Q1. What are the tenure options for the home loan?
You can get home loans for tenure up to 30 years. But the term of the loan will only extend till the age of 65 years or your retirement age, whichever is earlier.
Q2. Who can be my co-applicants?
Co-applicants for the loan can include your spouse and other blood relatives. The condition is that the co-applicant has to be a co-owner of the house.
Q3.What is an amortization schedule?
An amortization schedule is a table giving details of how much your loan amount goes down each month when you pay EMIs. The amortization schedule also gives you information on how much outstanding principal and interest you are repaying with each EMI.
Q4. What is a Pre-EMI?
Pre-EMI is the interest paid on the loan amount availed in part and before the start of actual EMI. You will have to pay this if disbursals are for self-construction or at the construction stage of a building. Since the EMI doesn't start till the loan is disbursed in full the interest is charged on the partially disbursed loan amount, which is pre-EMI.
Q5.What kind of security/collateral do i need to provide?
You can use immovable property as collateral. The title to the property should be in your name, clear, marketable and free from any impediment. The security created on property will be first and exclusive. The security will be created by depositing original title documents of the property.
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