INDIABULLS LAP

IndiaBulls Loan against Property

IndiaBulls is an Indian public company that offers Mortgage loan in India at best rates. It offers loan against property to individual customers as well as corporates in order in order to buy a new house or construction of a residential property. This is the best bank for availing Property Loan online.

Why Loan Against Property from IndiaBulls Bank?

Apply for Mortgage Loan online with the best interest rates and for huge loan amount from IndiaBulls. The Property loan makes customers realize the exact worth of their property so that the small as well as medium sized enterprises are saved from the necessity of working capital. It provides working capital to such enterprises for the expansion of the business. The value of the loan offered can be as high as 65% of the total value of the property and is provided to small and medium-sized enterprises, partnership firms and private limited companies.

  •      Flexible loan tenure
  •      Quicken loan sanction
  •      Free doorstep service for documents collection
  •      India’s first completely online home loan process – from application to disbursal
  •      Low interest rates

Fees and Charges

The mentioned below are the fees and charges applicable which are levied by IndiaBulls Bank:
TYPES OF FEESCHARGES APPLICABLE
Interest Rate10% to 12%
Processing FeesUp to 2% of loan amount
Loan TenureUp to 15 years
Loan to Value (LTV)Up to 70% of property value
Foreclosure Charges4% of the outstanding loan amount after the completion of lock-in-period of 6 months

Advantages of IndiaBulls Loan against Property

IndiaBulls Bank provides its customers with numerous advantages to choose from for availing Mortgage Loan:

  •       Loan transfers facility with additional top ups
  •       ISO certified loan process
  •       Quick approval and disbursal of loan
  •       Funds are offered by ascertaining the value of the property without emptying the house
  •       Immediate funds are provided for the expansion of the business
  •       The funds are provided at very competitive rate of interest

Documents required for applying for a Loan against Property from IndiaBulls

Before applying for Property Loan online please check you complete with the required documents.

  1. For Self-Employed
  • 1. Filled up loan application form
  • 2. 2 Passport Size Photo
  • 3. ITR of last 0 years
  • 4. Identity Proof – Passport/ Driving License/ Voter ID/ PAN
  • 5. Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
  • 6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and            balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
  1. For Salaried Employees
  • 1. Filled up loan application form
  • 2. 2 Passport Size Photo
  • 3. ITR of last 0 years
  • 4. Iden1tity Proof – Passport/ Driving License/ Voter ID/ PAN
  • 5. Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
  • 6. Income Documents – 6 months’ payslips, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
  1. Property Documents for all
  • 1. Registered Sale Deed/ Conveyance/ Lease Deed
  • 2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • 3. Latest House Tax Return/ Receipt
  • 4. Approved Building Plan from Municipal Corporation

Eligibility Criteria for applying for IndiaBulls Bank Loan against Property

Loan application is approved instantly if you are eligible for applying the loan and you meet all the necessary Loan requirements. So apply online for Mortgage loan if you meet the basic requirements. Below mentioned are mortgage loan eligibility conditions:

Eligibility ConditionFacts for self-employed professional and non-professionals
Minimum Age23 years
Maximum Age65 years for salaried and 70 years for self-employed
Cash ProfitsProfits for the last 2 years
Business Stability and existenceMinimum 3 years
Property DocumentsComplete property documents to be shown
Other DocumentsApplication form Along with 2 Passport Size Photos signed across

Documents required for applying for a Home Loan from Axis Bank

Before applying for Home Loan online please check you complete with the required documents.

TYPES OF FEESCHARGES APPLICABLE
Interest Rate14.50% to 16.25%
Processing FeesRs. 3500 - Rs. 5500
Loan Tenure5 years
Guarantor RequirementNo
Documentation ChargesRs. 500
Foreclosure Charges5% of the Principal Outstanding
Loan AmountRs. 1 Lakh Minimum
Cheque Bounce ChargesRs. 500
Cheque / Instrument Swap ChargesRs. 500
Stamp DutyAt actual
Loan cancellation / Re-bookingRs. 2500
Pre-Closure Charges10% of the principal outstanding (plus ST) up to 6 Months and 5% of the principal outstanding (plus ST) after 6 Months
Penal Interest2% per month
Registration Certificate Collection ChargeRs 200
Issuance of credit reportRs 50

Procedure for applying for IndiaBulls Loan against Property Online

One can Apply online or Book your Appointment for Property loan through our website with few simple steps by registering online

  •    Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.
  •    Provide your consent.
  •    Choose IndiaBulls Bank as your Business Loan partner.
  •     Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

Know more about IndiaBulls Loan against Property – FAQs

Q. What is IndiaBulls loan against property interest rate?

A. Indiabulls offers loan against property at rate of 10.50% with the lowest EMI of Rs. 1,349.

Q. What is the benchmark rate applicable for Mortgage loan?

A. The benchmark rate applicable for property loan in Indiabulls is PLR.

Q. Do I get tax benefit on Loan against property from Indiabulls?

A. There are no tax benefits available for loan against property.

Q. Can I transfer my LAP from another bank to Indiabulls?

A. Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Indiabulls offers you to pay lower EMIs and save money.

Q. What are the five things to check before applying for loan against property in Indiabulls?

A. You must remember these 5 points before applying online for Property Loan:

    Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    Your existing EMIs on all loans and credit cards (from Indiabulls and other banks) are no more than 60 – 70% of your net monthly income
    You have not defaulted on loans or credit card dues to Indiabulls and other banks and all EMI’s have been paid. Note that Indiabulls can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Indiabulls in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
    If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years’ Form 16 with the loan application
    If you are self-employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available
QUICK OVERVIEW
Apply online at interest rate starting @8.80% p.a.
Free doorstep documents pick-up service
Quick approval and disbursal rate
Competitive and transparent process
Multiple Home Loan Options available to choose from