Indiabulls Home Loan

Highlights

  • Know your eligibility for Indiabulls home loans available at 8.99%

  • Get Indiabulls home loan at affordable rates July 2020

In the latest monetary policy meet held on March 24-27 2020, the RBI has decided to give a 3-month moratorium period for all outstanding loans as on March 1, 2020. Remember, this is not an EMI WAIVER. The move is in line with the economic pressures induced by the Coronavirus outbreak. So, this could mean some savings for you on your loan and help you deal with the likely situation of less or no income. Your credit score will not reduce if you don't pay the EMI. But doing so can raise your interest liability as banks would like to cover their losses, which is likely to be the case on deferred EMI payments, by increasing the interest component of the EMI after the moratorium period gets over. So, if you have the money, keep paying to reduce your interest liability. The moratorium, which was ending on May 31, 2020, has been extended till August 31, 2020.

Ramesh is tired of paying rent and wants to buy a house now. He is confused where to apply since this is his first loan ever. His friend suggested him to compare home loan rates at top banks in July 2020. After comparison, he has selected Indiabulls as his home loan lender. To know what made him take this action, read this page:

  • Loan amount
  • Approval time
  • Interest rates
  • Eligibility criteria
  • Processing fees
  • Other benefits of Indiabulls home loan

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    Indiabulls Home Loan Interest Rate July 2020

    Below is the table showing the rate of interest, processing fees and maximum loan amount available on the home loan offered by Indiabulls. You may also note that 18% GST is additionally applicable over the processing fee.

    ParticularsDetails
    Home Loan Interest Rate8.99% Onwards
    Loan AmountUpto 75%-90% of the property value
    TenureUp to 30 years
    Pre-paymentNil
    Fore-closureNil

    How can you apply for home loans at Wishfin?

    Wishfin is an online portal where you can compare home loans of top lenders. The expert advice will not only help you get the best possible rate as per your eligibility but will also make sure that you get instant loan approval.

    What are the documents required to apply for Indiabulls Home Loans?

    To apply for a home loan at Indiabulls, all applicants are required to submit some important documents. Here is the list of such documents.

    • Duly Filled & Signed Application Form
    • Processing Fee Cheque
    • Age Proof – PAN Card/Passport/Voter ID/Driving License/Aadhaar Card
    • Address Proof – Passport/Voter ID/Driving License/Aadhaar Card/Electricity Bill/Telephone Bill
    • Signature proof – PAN Card/Passport/Driving License
    • Identity proof – PAN Card/Passport/Voter ID/Driving License/Aadhaar Card
    • Income documents
      • If salaried: Salary slips, Form 16 and bank statement
      • If self-employed: ITRs with financial statements, Bank statement
    • Property Documents

    How can you check the status of your loan?

    You can track the status of your home loan using the online customer home loan portal or by contacting the home loan department. However, if you apply through Wishfin, the team makes sure you get the right solution.

    Indiabulls Home Loan Application

    The housing finance firm will set a valuation amount of the property based on the technical & legal report. You can then get a home loan of upto 75%-90% of the property value as decided by Indiabulls.

    How can you calculate your EMI?

    With the help of the loan calculator, you can check the details of the total payments on your home loan. Here is an example for your reference. The following table specifies the EMI, interest and the total amount (EMI+Interest) payable each year on your home loan.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 30,00,0008.70%1₹ 2,61,937₹ 1,43,247₹ 31,43,247
    ₹ 30,00,0008.70%2₹ 1,36,642₹ 2,79,400₹ 32,79,400
    ₹ 30,00,0008.70%3₹ 94,981₹ 4,19,312₹ 34,19,312
    ₹ 30,00,0008.70%4₹ 74,229₹ 5,62,968₹ 35,62,968
    ₹ 30,00,0008.70%5₹ 61,839₹ 7,10,351₹ 37,10,351
    ₹ 30,00,0008.70%6₹ 53,631₹ 8,61,433₹ 38,61,433
    ₹ 30,00,0008.70%7₹ 47,812₹ 10,16,186₹ 40,16,186
    ₹ 30,00,0008.70%8₹ 43,485₹ 11,74,573₹ 41,74,573
    ₹ 30,00,0008.70%9₹ 40,153₹ 13,36,554₹ 43,36,554
    ₹ 30,00,0008.70%10₹ 37,517₹ 15,02,084₹ 45,02,084
    ₹ 30,00,0008.70%11₹ 35,387₹ 16,71,114₹ 46,71,114
    ₹ 30,00,0008.70%12₹ 33,636₹ 18,43,589₹ 48,43,589
    ₹ 30,00,0008.70%13₹ 32,176₹ 20,19,452₹ 50,19,452
    ₹ 30,00,0008.70%14₹ 30,944₹ 21,98,640₹ 51,98,640
    ₹ 30,00,0008.70%15₹ 29,895₹ 23,81,090₹ 53,81,090
    ₹ 30,00,0008.70%16₹ 28,993₹ 25,66,731₹ 55,66,731
    ₹ 30,00,0008.70%17₹ 28,213₹ 27,55,495₹ 57,55,495
    ₹ 30,00,0008.70%18₹ 27,534₹ 29,47,305₹ 59,47,305
    ₹ 30,00,0008.70%19₹ 26,939₹ 31,42,088₹ 61,42,088
    ₹ 30,00,0008.70%20₹ 26,416₹ 33,39,765₹ 63,39,765
    ₹ 30,00,0008.70%21₹ 25,953₹ 35,40,257₹ 65,40,257
    ₹ 30,00,0008.70%22₹ 25,543₹ 37,43,482₹ 67,43,482
    ₹ 30,00,0008.70%23₹ 25,179₹ 39,49,361₹ 69,49,361
    ₹ 30,00,0008.70%24₹ 24,854₹ 41,57,809₹ 71,57,809
    ₹ 30,00,0008.70%25₹ 24,562₹ 43,68,744₹ 73,68,744
    ₹ 30,00,0008.70%26₹ 24,302₹ 45,82,083₹ 75,82,083
    ₹ 30,00,0008.70%27₹ 24,067₹ 47,97,743₹ 77,97,743
    ₹ 30,00,0008.70%28₹ 23,856₹ 50,15,642₹ 80,15,642
    ₹ 30,00,0008.70%29₹ 23,666₹ 52,35,697₹ 82,35,697
    ₹ 30,00,0008.70%30₹ 23,494₹ 54,57,826₹ 84,57,826

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 21,782₹ 2,60,145₹ 29,78,217
    2₹ 23,755₹ 2,58,173₹ 29,54,462
    3₹ 25,906₹ 2,56,021₹ 29,28,556
    4₹ 28,252₹ 2,53,675₹ 29,00,304
    5₹ 30,810₹ 2,51,117₹ 28,69,493
    6₹ 33,600₹ 2,48,327₹ 28,35,893
    7₹ 36,643₹ 2,45,284₹ 27,99,250
    8₹ 39,961₹ 2,41,966₹ 27,59,289
    9₹ 43,579₹ 2,38,348₹ 27,15,709
    10₹ 47,526₹ 2,34,401₹ 26,68,182
    11₹ 51,830₹ 2,30,098₹ 26,16,352
    12₹ 56,523₹ 2,25,404₹ 25,59,829
    13₹ 61,641₹ 2,20,286₹ 24,98,187
    14₹ 67,223₹ 2,14,704₹ 24,30,963
    15₹ 73,311₹ 2,08,616₹ 23,57,652
    16₹ 79,949₹ 2,01,978₹ 22,77,702
    17₹ 87,189₹ 1,94,738₹ 21,90,512
    18₹ 95,085₹ 1,86,842₹ 20,95,427
    19₹ 1,03,695₹ 1,78,232₹ 19,91,732
    20₹ 1,13,085₹ 1,68,842₹ 18,78,646
    21₹ 1,23,325₹ 1,58,602₹ 17,55,320
    22₹ 1,34,493₹ 1,47,434₹ 16,20,827
    23₹ 1,46,672₹ 1,35,255₹ 14,74,154
    24₹ 1,59,954₹ 1,21,973₹ 13,14,200
    25₹ 1,74,439₹ 1,07,489₹ 11,39,761
    26₹ 1,90,235₹ 91,692₹ 9,49,525
    27₹ 2,07,461₹ 74,466₹ 7,42,064
    28₹ 2,26,248₹ 55,679₹ 5,15,815
    29₹ 2,46,736₹ 35,191₹ 2,69,079
    30₹ 2,69,248₹ 12,848₹ 0

    Key features of Indiabulls home loan

    • Competitive interest rates
    • Home loan under PMAY
    • Easy and simple documentation process
    • Quick approval and disbursal of the loan amount
    • Easy monthly repayment & pre-payment facility
    • Balance transfer with reduced rate of interest and lower EMIs
    • Pre-approved home loan facility available
    • Loan available for under-construction properties as well
    • Safe document storage
    • No pre-payment and foreclosure charges on loan
    • Approval for home loan even before the selection of the property
    • Interest paid on borrowed amount for the purchase, construction, repair, renewal or reconstruction of the house property

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