Description:
Provides Home Loans to individuals for purchase, construction, extension and renovation, with a ticket size of Rs. 1-15 lakh (average of Rs. 7.5 lakh) in the affordable housing segment.
Specializes in providing loans to families within the economically weaker section of society, in the self-employed category (e.g. to drivers, barbers, rickshaw drivers, vegetable vendors, etc.) where formal income proofs are not easily available and repayment capacity is appraised based on cash flows. Our Home Loans open the door to your new concrete dream Home. Since a Home Loan is a long term commitment of 10-15 years, we at India Home Loan Limited ensure that we give you unmatched quality of service, transparency throughout the process, and a supportive experience which remains with you for years to come.
Our Home Loans are also offered to professionals and self-employed individuals based on appraisal income calculated on surrogate income proofs, for construction or purchase of houses in villages, towns and cities. The Loan amount can be further enhanced by including an earning co-applicant. The Loan is offered up to a maximum of 80% of the property cost including land, construction cost and single time acquisition costs. You can avail a home loan of up to Rs. 20.0 lakh, but not exceeding 80% of the cost of property.
The Loan is offered under fixed or variable rate options with monthly amortization.
Note:IHLL will adhere to the Most Important Terms and Conditions (“MITC”) on all loans as prescribed by the National Housing Bank; details on this Policy can be found at MITC.
Eligibility Criteria:
- Applicants can apply singly or jointly with an eligible co-borrower.
- Properties in rural or urban areas are eligible.
- Loan terms align with the applicant’s retirement age (60 years for salaried, 65 years for self-employed).
Loan Details:
- Loan Amount: Up to ₹20 lakh, not exceeding 80% of the property's cost.
- Interest Rate: Fixed or variable with monthly amortization.
- Annual Percentage Rate (APR): 14% to 18% per annum.
Flexible Loan Options
We offer a wide range of loan products designed to suit your needs. Whether you are looking to finance your dream home, renovate your property, or consolidate debt, we have a solution for you.
Personalized Support
Our team of experts is here to guide you through the entire process, ensuring a smooth and hassle-free experience. With our customer-first approach, we make borrowing simple and straightforward.
Frequently Asked Questions
Step 2: Your application would be assessed on the basis of various eligibility and funding norms.
Step 3: A property valuation and title check may be carried out by the company representative to determine the property value and legal clearance of the property to arrive at the loan amount.
Step 4: Based on the internal and regulatory guidelines, IHLL may approve or reject the loan application.
Step 5: Submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/ECS/NACH.
Step 6: Upon finding all the documents in order, IHLL will disburse the loan amount to the developer/contractor based on the progress of construction. The EMI/Pre-EMI will commence after the disbursement.
Home Loan Eligibility Calculator