Indiabulls Loan Against Property
Last Updated : Nov. 16, 2016, 2:37 a.m.
Indiabulls provides loan against property to self-employed and businessmen with high loan amount at low-interest rates. The loan against property offered by Indiabulls gives you a chance to use your own property for education, marriage, foreign travelling and other personal requirements.
Indiabulls Mortgage Loan Details
| Particulars | Details |
|---|---|
| Interest Rate | 10.50% Onwards |
| Loan Amount | Up to Rs. 5 Crores or Up to 65% of the market value of the property- plot, commercial or residential |
| Tenure | Up to 3 years |
| Processing Fee | Up to 1.50% of the loan amount + service tax |
| Prepayment or foreclosure charges | NIL |
Features & Benefits of Indiabulls Loan Against Property
- Quick loan approval and disbursal
- ISO certified process
- Loan transfers with top-ups
- Doorstep service available
- Convert your current loan at an attractive rate of interest
- Convert working capital limit to term loan
Indiabulls Mortgage Loan Eligibility
The list for the eligibility to apply for Indiabulls loan against property is as follows:
- Self-employed professional and businessmen
- Individuals with minimum age of 25 years and maximum age limit of 60 years
- Partnership firms
- Private limited companies or closely held companies
Documents Required for Indiabulls Loan Against Property
- PAN card of the company
- Address proof
- ITR Return for the past 2 years along with the balance sheet and computational
- Profit and loss statement
- Business profile on company’s letterhead along with MoA
- KYC form
- Last 2 years Form 26 AS
- Past 6 months bank record
- Property documents
- Vat registration and Vat return documents (last 2 years)
- Audited financials certified by a CA in case of turnover more than 5 lacs
How to Apply for Indiabulls Mortgage Loan
To apply for Indiabulls loan against property, you need to submit the self-attested copied of all the documents along with the filled-up Indiabulls mortgage application form and submit it to the nearest branch.
Indiabulls Loan Against Property EMI Calculator
EMI calculator is the tool that is very commonly used by the borrowers to calculate the monthly EMIs that a person has to pay for the loan he/she has taken against the property for a particular tenure period at a particular rate of interest. For eg. If you are taking a loan of Rs. 15,00,000 for fixed rate tenure period of 3 years at the rate of interest of 11.00%, your EMI per month will be Rs. 49,108. For more details on the monthly EMIs, total interest outgo and total amount for each year, refer the below-given table:
Table for EMI per month, Total Interest Outgo and Total Amount
| Amount (in Rs.) | Rate of Interest (p.a) | Loan Tenure (in years) | EMI (in Rs.) | Total Interest Outgo (in Rs.) | Total Amount (Principal + Interest) (in Rs.) |
|---|---|---|---|---|---|
| 15,00,000 | 11% - 12% | 1 | 1,32,572 - 1,33,273 | 90,870 - 99,278 | 15,90,870 – 15,99,278 |
| 15,00,000 | 11% - 12% | 2 | 69,912 – 70,610 | 1,77,882 - 1,94,645 | 16,77,882 - 16,94,645 |
| 15,00,000 | 11% - 12% | 3 | 49,108 - 49,821 | 2,67,891 - 2,93,573 | 17,67,891 – 17,93,573 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 4,46,354 – 4,41,617 | 1,42,942 - 1,56,235 | 10,53,646 - 10,58,383 |
| 2 | 4,98,007 - 4,97,626 | 91,289 – 1,00,226 | 5,55,639 – 5,60,757 |
| 3 | 5,56,085 – 5,61,250 | 33,660 - 37,114 | 0 |
Indiabulls Mortgage Loan Interest Rate
Indiabulls loan against property for commercial property purchase is available in both variable rate as well as fixed/floating rate of interest.
Indiabulls Loan Against Property/Commercial Property Purchase Variable Rates
| Loan Amount | Variable Rates % |
|---|---|
| Up to and including Rs. 5 Crores | 11.00% to 13.50% |
| More than Rs. 5 Crores | 13.00% to 14.50% |
Indiabulls Loan Against Property/Commercial Property Purchase Fixed/Floating
| Loan Amount | Fixed Rate Tenure | Rates% |
|---|---|---|
| Up to and including Rs. 5 Crores | Up to 3 Years | 11.00% to 12.00% |
Indiabulls Customer Care Number
For any query related to Indiabulls mortgage loan or any other loan, you can contact the 24X7 customer care on the following details:
Helpline Number: 0124-4572444
Timing: 9:00 A.M to 6:00 P.M (Monday to Friday excluding trading holidays)