Hi dear readers, hope you are doing well, today we will know about How to get IIFL Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.
As you know friends Home Loan comes under the catogry of a Secured Loan. If you are thinking of building or buying a house and you are short of money then you can join IIFL Home Loan. Home is our piece of heaven.
It is the dream of every person to have his own house. In this article we will know that IIFL Home Loan What is the interest rate of this loan, how much loan amount can we take under this loan and how can we apply for this home loan etc., so you can read this article Read it till the end.
IIFL Home Loan
One can avail IIFL Home Loan for construction of house, purchase of house or renovation of house. IIFL Finance Provides many types of home loan schemes. Everyone The interest rate for the loan can also be different. If you want to take advantage of this loan then you have to apply for it. You can apply for this home loan by visiting the official website of IIFL.
IIFL Home Loan interest rates start from 8.2% p.a. With IIFL Finance you can get home loan at both fixed interest rate and variable interest rate. To apply for home loan CIBIL Score should be good.
If your credit score and your income is high, then you can get a home loan up to a higher loan amount. Government Scheme of Government of India Pradhan Mantri Awas Yojana (PMAY) Under this, you can take advantage of subsidy on home loan.
If you are of IIFL Finance personal loan If you want to take advantage of this then you can click on this link IIFL Personal Loan You can apply for personal loan by clicking on
Key Features of IIFL Home Loan
- Loan Name: IIFL Home Loan
- Lending Institution Name: IIFL Finance
- Interest Rate: 8.2% pa
- Loan tenure: 20 years
- Processing Fee: Up to 1.75% of the loan amount
- Official Website: https://www.iifl.com/
IIFL Home Loan Interest Rate 2024
Presently, the interest rate of IIFL Home Loan starts from 8.2% p.a. Before applying for any home loan, you need to know about that loan. Before taking a home loan, it is important to know about Home Loan Interest Rate It is necessary to have information about it.
If you apply for a home loan without knowing the exact interest rate of the loan, then you may have to face problems at the time of repayment of the loan.
IIFL Home Loan Schemes
IIFL Finance offers a variety of home loan schemes which are as follows:
- Secured SME Loan
- New Home Loan
- Pradhan Mantri Awas Yojana
- Home Renovation
- Balance Transfer
- NRI Home Loan
Secured SME Loan :
- Any salaried and self-employed person in India can apply for this loan.
- Partnership firm or even a private limited company as a co-applicant to increase the loan amount and get an attractive interest rate.
- Applicant’s minimum age should be 18 years and maximum 65 years.
- The maximum tenure of this loan is 10 years.
- loan tenure is up to 15 years.
- The interest rate of this loan starts from 10.00% per annum.
The loan amount given under Secured SME Loan is as follows:
| Product Type | Regular Secured Business Loan |
| Minimum Loan Amount (Non Metro) | 25 lakh rupees |
| Minimum Loan Amount (Metro) | 35 lakh |
| Maximum Loan Amount (Non Metro) | 10 crore rupees |
| Maximum Loan Amount (Metro) | 10 crore rupees |
Documents for Secured SME Loan :
- Proof of Identity and Residence (KYC)
- Salary slip of last 2 months
- Last 6 Months Bank Statement – Salaried Account
- Permanent Account Number (PAN) or Form 60
- Officially valid document (OVD) acceptable as identification or current address of persons (any one of the following may be accepted):
- Passport
- driving license
- Election
- voter id card
- Job card issued by NREGA
- Letter issued by the National Population Register containing the details of name, address.
- proof of having aadhar number
- Copy of documents of full range of property
- copy of approved plan
- Additional documents in case of balance transfer:-
- List of documents from existing financial institution
- Outstanding loan / foreclosure letter from existing financial institution
New Home Loan:
- Salaried and self-employed both can apply for this loan.
- Simple Documentation, Paperless Processing, Excellent Customer Service, Home Loan Approved in Just 25 Minutes.
- You can take advantage of the credit linked subsidy scheme under the Pradhan Mantri Awas Yojana under this loan.
- The interest rate of this loan starts from 8.2% per annum.
- The loan tenure of this loan is up to 25 years.
Documents for New Home Loan :
- Proof of Identity and Residence (KYC)
- Permanent Account Number (PAN) or Form 60
- Officially valid document (OVD) acceptable as identification or current address of persons (any one of the following may be accepted):
- Passport
- driving license
- Election / Voter ID Card
- Job card issued by NREGA
- Letter issued by the National Population Register containing the details of name, address.
- proof of having aadhar number
- Copy of documents of full range of property
- copy of approved plan
- Additional documents in case of balance transfer:
- List of documents from existing financial institution
- Outstanding loan / foreclosure letter from existing financial institution
- Property Documents:
- Copy of documents of full range of property
- copy of contract to sell
- Copy of allotment letter/buyer agreement
- Copy of receipt of payment made to the developer
- Additional documents in case of balance transfer:
- List of documents from existing financial institution
- Outstanding loan / foreclosure letter from existing financial institution
Read Also: SBI Personal Loan Apply, Interest Rate
Pradhan Mantri Awas Yojana :
- Prime Minister Shri Narendra Modi ji to provide pucca house to all the people of the country by 2023. For Prime Minister’s Housing Scheme has started Under this scheme, people are provided subsidy on home loan. The loan tenure in Pradhan Mantri Awas Yojana under IIFL Home Loan is up to 20 years. If you want to get more information about Pradhan Mantri Awas Yojana, then you can get information by clicking on the link given above.
Under IIFL Pradhan Mantri Awas Yojana, the subsidy and amount is given as follows:
| description | EWS | LIG | MIG I | MIG II |
| Household Income (Rs. per annum) | 0-3,00,000 | 3,00,001-6,00,000 | 6,00,001-12,00,000 | 12,00,001-18,00,000 |
| Home Loan Amount Eligible For Interest Subsidy (Rs.) | Upto 6,00,000 | Upto 6,00,000 | Upto 9,00,000 | Upto 12,00,000 |
| Interest Subsidy (% p.a.) | 6.50% | 6.50% | 4.00% | 3.00% |
| Maximum loan tenure (in years) | 20 | 20 | 20 | 20 |
| Maximum Residential Unit Carpet Area | 30 Sq. m. | 60 Sq. m. | 160 Sq. m. | 200 Sq. m. |
Home Renovation:
- You can apply for this loan with less processing and simpler repayment plans.
- If you fulfill all the conditions of this home loan of IIFL Home Loan, then your loan will be approved in just 25 minutes.
- The interest rate of this loan starts from 8.2% per annum.
- loan tenure is up to 25 years.
Documents for Home Renovation :
- Proof of Identity and Residence (KYC)
- Permanent Account Number (PAN) or Form 60
- Officially valid document (OVD) acceptable as identification or current address of persons (any one of the following may be accepted):
- Passport
- driving license
- Election / Voter ID Card
- Job card issued by NREGA
- Letter issued by the National Population Register containing the details of name, address.
- proof of having aadhar number
- Copy of documents of full range of property
- copy of approved plan
- Additional documents in case of balance transfer:
- List of documents from existing financial institution
- Outstanding loan / foreclosure letter from existing financial institution
- Property Documents:
- Copy of documents of full range of property
- copy of contract to sell
- Copy of allotment letter/buyer agreement
- Copy of receipt of payment made to the developer
- Additional documents in case of balance transfer:
- List of documents from existing financial institution
- Outstanding loan / foreclosure letter from existing financial institution
Balance Transfer:
- If the interest rate of your existing loan is very high, then you can easily transfer it to IIFL Home Loan.
- IIFL Finance gives you freedom from high interest rates and inconvenient loan tenure.
- By transferring home loan, you can reduce the interest rate and save extra money.
Documents for Home Loan Balance Transfer:
- Application Form of Pradhan Mantri Awas Yojana – You can click on this link form download can do
- Identity Proof:
- PAN Card (Mandatory)
- voter card
- Aadhar Card
- valid passport
- driving license
- photo credit card
- Government issued photo identity card
- not older than 30 days) from a recognized public authority or public servant confirming the identity of the customer with photograph
- Address Proof:
- voter card
- Aadhar Card
- valid passport
- Letter from a recognized public authority or public servant confirming the identity and residence of the customer
- latest utility bill
- Rent agreement on stamp paper
- Bank details showing the address of the borrowers of any commercial nationalized bank
- Credit card statement not older than 3 months
- life insurance policy
- Address of residence Certificate / letter by the employer on company letterhead
- Copy of sale deed of property (residence), if owned
- Municipal or property tax receipt
- Post Office Savings Bank Account Details
- Pension or Family Pension Payment Order (PPO) issued by the government to retired employees. Departments or Public Sector Undertakings, if known in them.
- Letter of allotment of accommodation from the employer issued by the State or Central Government. Departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation.
- government issued document Letter issued by the Department of Foreign Jurisdiction and the Foreign Embassy or Mission in India.
- proof of income:
- Salary slip of last 2 months
- Salaried account bank statement for the last 6 months
- Latest Form 16 / ITR
- Property Documents:
- Copy of documents of full range of property
- copy of approved plan
- other documents:
- Documents relating to ongoing loans along with bank details of the last 6 months from which these loans have been repaid
- List of documents from existing financial institution
- Foreclosure letter from existing financial institution
NRI Home Loan:
- can take advantage of NRI Home Loan to buy property or house in India even if you are an NRI Yes _
- Both salaried and self-employed individuals can apply for this home loan.
- To avail IIFL NRI Home Loan, you should be residing abroad in USA and Canada, East Asian countries, Middle East, European countries ( except Spain, Greece, Portugal, Italy) or Australia and New Zealand.
- repair or renovation, self-construction on the land or for buying an existing flat or house.
- The land should be for residential purposes only.
- The premises should be located within the municipal limits.
- The land purchased by you must be a non-agricultural land.
- The interest rates of this loan start from 8.2% per annum.
Documents for NRI Home Loan:
- Application Form – Download Form Click on this link to do
- Identity Proof:
- valid passport
- voter card
- Aadhar Card
- PAN card
- Other acceptable documents as prescribed by National Housing Bank from time to time
- Address Proof:
- valid passport
- voter card
- Aadhar Card
- Other acceptable documents as prescribed by National Housing Bank from time to time
- proof of income:
- valid passport
- voter card
- Aadhar Card
- Other acceptable documents as prescribed by National Housing Bank from time to time
- other documents:
- Documents relating to ongoing loans along with bank details of the last 6 months from which these loans have been repaid
- Property Documents:
- Copy of documents of full range of property
- Copy of plans approved by local authorities
- Construction Estimate by Architect/Civil Engineer
IIFL Home Loan Benefits and Features
- Any salaried and self-employed individual can apply for IIFL Home Loan.
- Applicant’s age should be between 18 to 75 years.
- IIFL Finance offers a wide variety of home loan schemes. The interest rate and loan amount may be different for all these home loan schemes. For more information you can contact IIFL Finance Home loan Helpline Number.
- You can enhance your loan eligibility and approval status by adding a co-applicant to your home loan but it is not mandatory to be a co-applicant.
- If you want to get other information about this home loan, then you can get more information by calling IIFL Home Loan Customer Care Number – 1860-267-3000.
- You can check the status of your loan by calling the customer care number.
- Tax benefits are given to the customers on this home loan.
How to Apply IIFL Home Loan ?
If you fulfill all the conditions of this loan then you can apply for this home loan. To apply, follow the steps given below :
- First of all you have to visit the official website of IIFL Finance. iifl.com
- On the home page of the website, you will see all types of home loan schemes in the option of Home Loans.
- Click on the home loan you wish to apply for.
- After clicking, all the information related to that home loan will come in front of you on the next page.
- On the next page you will see the option of Apply Now, click on it.
- A form will open in front of you.
- Enter the requested information in the form and submit the form.
- After that the representative of IIFL Finance will contact you and proceed with the loan process.
- If you fulfill all the eligibility then your loan will be approved in just 25 minutes.
IIFL Home Loan EMI Calculator
Before applying for IIFL home loan, you should calculate the EMI (Equated Monthly Installment) of your loan. The EMI of the loan depends on three main factors – loan amount, interest rate and loan tenure. By calculating the EMI of the loan, you can get an idea of how much you will have to pay while repaying the loan. You can visit the official website of IIFL Finance Home Loan EMI Calculator You can calculate EMI with the help of If you apply for the loan without calculating the EMI, then you may face presanio at the time of loan repayment.
IIFL Home Loan Customer Care Number
If you are facing any kind of problem in applying for this loan or you want to get other information about this loan, then you can get information by calling IIFL Home Loan customer care number.
- Customer Care Number – 1860-267-3000
Conclusion:
In this article we have given you How to get IIFL Home Loan Provided complete information about If you want to take home loan from IIFL Finance, then you can get information about the complete process of applying by reading this article.
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FAQs on IIFL Home Loan
What is IIFL Home Loan ?
When any person takes a loan to fulfill his dream of home, it is a home loan.
What is the processing charge under IIFL Home Loan ?
Up to 1.75% of the loan amount.
How can I apply for IIFL Home Loan ?
Complete information about applying for the loan is given in this article. You can apply for this loan by reading this article.
Does IIFL offer Home Loan ?
Yes, IIFL offers home loans to its customers at attractive interest rates.
What is the interest rate of IIFL Home Loan ?
The interest rate of this loan starts from 8.2% per annum.