IndiaBulls Mortgage Loan

Interest Rate starts from 11.00%
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Mortgage Loan From IndiaBulls

Possessing a valuable property that can be mortgaged for your needs? Check out the Mortgage Loan offers from ApnaLoanBazaar provided by various bank across India and enjoy our support till the Loan closure.

Interest Rate starts from
11.00* %
Processing Fee
Up To 1.5%
Loan Tenure
Upto 15 Years
Guarantor Requirement
Allowed
Part-Payment
Allowed
Pre-Closure Charges
Nill * %

About IndiaBulls

The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, India. It was founded by Mr. Sameer Gehlaut (Chairman) in 1999, and operates in sectors spread across housing finance, real estate & wealth management. The three main independently listed companies of the group are Indiabulls Housing Finance Limited (IBHFL), Indiabulls Real Estate Limited (IBREL), and Indiabulls Ventures Limited (IBVL). The Indiabulls Group has a net worth of Rs. 15,332 Cr. as of 30 June, 15 and is one of the top dividend paying groups amongst the Indian listed promoter owned group/companies.

Highlights

Award for ‘Housing Finance Company of the Year’ At the ‘30th National Real Estate Accommodation Times Awards’, 2016
Award for ‘Excellence in Home Loan Banking’ At the ‘My FM Stars of Industry Awards’, 2016
Award for ‘Best Housing Finance Company’ By Realty Plus, 2015
Award for ‘Best Affordable Housing Finance Company of the Year’ by ASSOCHAM, 2015
Award for ‘Fastest Growing Housing Finance Company of the Year 2013-14’ By the National Real Estate Development Council, 2014
Award for ‘Best Housing Finance Company of the Year’ At the ‘Assocham Real Estate Excellence Awards’, October 2013

FAQs About IndiaBulls Mortgage Loans

When can you apply for a Loan Against Property?
  • LAP (Loan against property) can be applied for if you are in need of funds for your business or personal use and possess property
Why should one take a Loan Against Property?
  • A consistent upswing in the property prices makes it the ideal asset to capitalize for business expansion or personal needs. Since OD/CC loans claim monthly EMI, the liability carries on for an indefinite period; where as in LAP one pays regular EMI and reduces the burden in an organized manner.
What are the loan tenure options?
  • IBHFL offers LAP up to a maximum of 15 years, provided the term does not extend beyond 65 years of age or the retirement age, whichever is earlier.
How is the interest charged/calculated?
  • Interest is calculated on a monthly basis.
Who can be the co-applicants for the loan?

    Your spouse

  • Any blood relative (immediate family members)
  • Also co-owner of the property has to necessarily be a co-applicant for the loan.
What is the security/ collateral one needs to provide?
  • Any immovable property owned by the applicant. The applicant's title to the property should be clear, marketable and free from any encumbrance. The security created on property shall be first and exclusive. Such security will be created by deposit of original title documents of the said property.
What is the advantage of LAP over PL/Unsecured Loans?
  • LAP is usually a property backed loan with a high quantum of loan, whereas unsecured/PL is mostly an unsecured loan with low quantum. Tenure offered in LAP vis a vis unsecured/PL is higher which reduces the EMI burden and repayment can be made in a longer term. Furthermore, the interest rate is generally lower in LAP loans than in PL loans.
What are the stages involved while taking a loan?
  • Application submission - Submit a completely filled in application with all the necessary documents.
  • Sanction - You get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
  • Disbursement is done on the basis of nature of transaction. For Balance transfer cases it will be favoring existing financer, for self-consumption cases it will be favoring the borrower.
  • Application submission - Submit a completely filled in application with all the necessary documents.
What is an amortization schedule?
  • An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.
What is an EMI?
  • You repay your loan in Equated Monthly Installments (EMIs) comprising of principal and interest. Repayment by EMI commences from the month after you take full disbursement.

Required Documentation For Salaried Persons

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents

Required Documentation For Self Employed/Professionals.

  • Filled Application form
  • Identity Proof
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents

Identity Proof For Mortgage Loan

  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification 

Age Proof For Mortgage Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Address Proof For Mortgage Loan

  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements) 

Income Proof For Mortgage Loan

  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Job Continuity Proof For Mortgage Loan

  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Mortgage Loan Can Be Used For Many Purposes Like Below

For Business Expansion

Accelerate the Business Growth

For Acquiring New Technology

For Construct a New Block

for setting up a new Factory

Setting up a new branch

To Pay off the other Loans

To Procure the More Stock

Things Keep In Mind
Interest Rates
Expert Advice
Mortgage Loans Vs Lease Rental Discounting