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.
Eligibility Criteria and Loan Details
- Applicants can apply singly or jointly with an eligible co-borrower.
- Loan Amount: Up to ₹20 lakh, not exceeding 80% of the property's cost.
- Properties in rural or urban areas are eligible.
- Interest Rate: Fixed or variable with monthly amortization.
- Loan terms align with the applicant’s retirement age (60 years for salaried, 65 years for self-employed).
- 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.
You need to submit valid proof of identity, address proof, income proof, employment verification, recent bank statements, property documents, and any other documents necessary for loan appraisal as per IHLL’s requirements.
Initial Processing Fee:
A one-time non-refundable fee of Rs 3,000 plus applicable taxes and statutory levies. This fee is charged at the time of application submission and is independent of the loan approval outcome.
Loan Processing Charges:
Up to 3% of the loan amount, plus applicable taxes and statutory levies.
The loan tenure depends on multiple factors as per IHLL’s policies and prevailing norms. These include eligibility criteria and applicable terms at the time of loan sanction.
Loan eligibility is assessed based on various parameters such as borrower’s income, sustainable income sources, age, loan tenure, work experience, and other factors that affect creditworthiness.
Helping you own a home with confidence and ease.
