Provides home loans to individuals for purchase, construction and extension with ticket size of Rs. 1-15 Lakhs (average of Rs. 7.5 Lakhs) in the affordable housing sector.>
Specializes on providing loans to families within the economically weaker sections of the society in the self-employed category where formal income proofs aren’t easily available and their repayment capacity is appraised based on their cash flows. Eg., to drivers, barbers, rickshaw drivers, vegetable vendors, etc.
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 right through the Loan procedures and a supportive experience that remains with you till such time you realize your dream.
Our Home Loan is also offered to professional and self-employed individuals based on an appraisal income which is calculated on surrogate income proof for construction or purchase of dwelling units at village, towns and cities. The Loan amount can be further enhanced by including an earning co-applicant.
The Loan is offered up to maximum 80 % of the property cost including Land, Construction cost and single time acquisition costs. You can avail a home loan of up to Rs. 20.00 Lac, but not exceeding 80% of the cost of property.
The Loan is offered under the fix/variable rate option with monthly amortization.
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.
Maximum age of applicant at loan maturity: 60 years
Minimum Tenure – 5 years.
Maximum Tenure – 15 years.
For processing your Home Loan Application, we are required to adhere to certain documentation procedures. To enable us to speedily process your Home Loan Application, we will require the following:
As per Income Tax Act , the current applicable exemption u/s 24 is applicable.
Replacement of Cheques.
Income Tax eligibility Certificates (provisional & Final)
Accelerated Repayment Option.
Statement of your Housing Loan Account
Offers Loan Against Property (“LAP”) with ticket size of Rs 10-50 Lakhs (towards working capital and other business use)
Maximum Tenure – 15 years.
Offers Project Loans to developers on a selective basis with a ticket size of Rs 1-5 crore
Maximum Tenure – 5 years.
For a step by step process, please refer to the Operation Manual available in the Policies and Manual section. Also, there are application forms and documents checklist available in downloadable formats in the Downloads section.