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.
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.
Either singly or jointly with co-borrower, having income to service the loan, and who satisfy our lending norms
Property should be located in rural / urban areas
Term, however, does not extend beyond their retirement age or 60 years, whichever is earlier (65 years for self-employed individuals)