IIFL Home Loan Rate of Interest 2019

Description of Charges Amount
Interest Rate 9.50% onwards
Tenure Range Upto 30 years for salaried employee, 20 years for self employed
Processing Fee Up to 0.75% of loan amount, or Rs. 3,000
Foreclosure Charges Nil
Co-applicant Spouse, relatives, private ltd company, partnership firms
Transaction/ Legal Handling fees in Balance Transfer Rs. 2,500/-
Late payment charges 36% per year of oustanding EMI
ACH Swapping Charges Rs. 500/- for each ACH bounce

Documents Required for IIFL Home Loan

Documents Salaried Employee Self Employed
Income Proof

a. Last 2 months salary slips

b. Latest ITR or Form 16

c. Last 6 months bank statement of salary account

a. Last 2 years IT returns

b. Profit and Loss account with computation of income and balance sheet with all its annexure for last 2 years certified by a CA.

c. Last 6 months bank statement

ID & Address Proof

a. Passport

b. Voter ID

c. Aadhar Card

d. Driving License

e. PAN Card

f. Documents approved by NHB (National Housing Board)

a. Passport

b. Voter ID

c. Aadhar Card

d. Driving License

e. PAN Card

f. Documents approved by NHB (National Housing Board)

Other Documents

a. Application form

b. 6 months bank statements

a. Application form

b. 6 months bank statements

c. Directors and shareholders list certified by a CA/CS

d. Partnership deed

Required Documents for Loan Sanctioning

a. Complete chain documents copy

b. Buyer agreement or Allotment letter copy

c. Copy of Agreement to sell

d. Reciepts and payments copy to the developer

a. Complete chain documents copy

b. Buyer agreement or Allotment letter copy

c. Copy of Agreement to sell

d. Reciepts and payments copy to the developer

Eligibility Criteria of IIFL Home Loan

  • Minimum age should be 18 years.

  • Maximum age should be 70 years old but no more than 70 years at the end of a loan.

  • For salaried indiviadual net salary should be Rs. 2 lakhs per annum. For self employed individuals, net income should be Rs. 2 lakhs per annum.

IIFL Home Loan EMI Calculator

The Emi is calculation is based on 3 factors which are loan amount, tenure, and interest rate. To calculate your loan EMI, use our EMI calculator.

Features of IIFL Home Loan

  • Attractive interest rates.

  • Hassle free and quick loan process.

  • Flexible repayment options.

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