IIFL Home Loan Interest Rate

Wondering to have a home loan with attractive rates of interest? You have come to the right place as we will introduce you to the lender offering one of the best home loan interest rates. IIFL Housing loans not only provides you with an easy home loan application process, but also facilitates the borrowers with expert and legal financial assistance. Want to know more about the rates and charges offered by IIFL home loans? If yes, scroll down below.

IIFL Home Loan Interest Rates and other Charges – May 2022

ParticularsDescription
Interest Rates8.20% onwards
Loan TenureUp to 25 years
Processing FeesUp to 1.75% of the loan amount
Collateral Evaluation Charges in Home Loan Non APFINR 3000
Late Payment Charges18% per annum of the outstanding EMI
Foreclosure ChargesNIL

IIFL Home Loan Balance Transfer Rates

If you are stuck in a high interest home loan and you are realizing that your savings are being faded away gradually, you have an option of a home loan balance transfer. An IIFL home loan balance transfer enables you to transfer your existing loan to the IIFL loan with interest rates starting from 8.20% only. You can apply for the loan online on the bank’s official website.

How to apply for IIFL Home Loan at Wishfin?

You can raise a query on the official website of Wishfin. We enable the customers to check, compare and analyze various types of loans and other financial products available. You just need to fill the online home loan application form with all your personal and financial information. The Wishfin representative will then contact you and proceed with the application by the consent of the bank. 

Frequently Asked Questions

1. What is the current IIFL home loan rate?

The current IIFL home loan rate starts from 8.20%.

2. Will IIFL home loan rate of interest go down in 2022?

It depends on the bank’s policies whether it will decide to reduce their home loan interest rate. However, the current interest rate on IIFL home loans starts from 8.20%

3. When does the interest rate of IIFL home loan change?

IIFL home loan current rate of interest on home loans start from 8.20%. Any change in interest will be at the discretion of the bank and RBI’s policies.

4. What is the interest for 1 crore loan in IIFL Housing Loan?

The interest rate for a 1 crore IIFL home loan starts from 8.20%. However, it also depends on the borrower’s credit score, existing relationship with the bank, loan amount, monthly income and repayment capacity that determines how much interest rate will be offered to the applicant. 

5. How can I reduce my home loan interest rate in IIFL?

If you have a strong CIBIL score and you have a higher monthly salary, the bank can offer you a reduced interest rate as you are more likely to repay the loan on time.

6. What is IIFL home loan interest rate for senior citizens?

The IIFL home loan interest rate for senior citizens starts from 8.20%

7. How much home loan can a government employee get in IIFL?

It totally depends on the applicant eligibility factors that how much loan amount he or she is liable for. However, government employees do get a benefit while availing any loan as their job is more secure and safe rather than private employees.

8. Does IIFL Provide 90% Home Loan

Yes, IIFL Home loans provide upto 90% financing.

10. Is prepayment allowed in IIFL home loan?

Yes, you can prepay the IIFL home loan as per your budget and convenience. However, you have to pay a certain fee for the same as stated by the bank.

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  • Home Loan Interest Rates May 2022
    Axis Bank6.75% - 7.20%
    Bank of Baroda6.75% - 8.25%
    Citibank6.65% - 7.40%
    HDFC7.00% - 8.10%
    ICICI Bank7.10% - 7.95%
    Indiabulls Housing Finance Limited8.65%
    Kotak Bank6.55% - 7.10%
    LIC Housing6.66% - 7.90%
    Piramal Capital & Housing Finance10.50%
    PNB Housing Finance6.75% - 9.25%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI6.70% - 6.90%
    Tata Capital6.90% - 8.75%