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Indiabulls Home loan can help you raise capital to help your immediate needs. Several factors determine eligibility for a home loan, including monthly income, fixed monthly obligations, age, and retirement age.
Indiabulls Home Loan Eligibility Criteria
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Salaried Individuals |
Self-Employed Individuals |
Business / Company |
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Entitled Borrowers |
Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses |
Proprietor / Partners / Directors |
Partnership or Private Limited firms engaged in Manufacturing, Servicing, or Trading |
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Self Employed Professionals such as Chartered Accountants, Company Secretary & Doctors |
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Age |
The person should be 21years old at the time of loan application and his maximum age should be 70 years |
Applicant must be a minimum of 23 years of age at the time of application and should be a maximum of 70 years at loan maturity. |
Proprietor / Key Partner / Main Director must be a minimum of 25 years at the time of loan application and should be a maximum of 70 years at loan maturity. |
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Experience / vintage |
1 year of overall experience and 2 months with the present employer. |
Must be running the same business for the last 3 years Professionals with qualification of CA / CS/doctor with a minimum of 1 year of practice. |
Business stability/history of minimum 3 years in the same business. |
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Income |
Net monthly in-hand salary should be Rs.25,000 |
Gross annual income should be a minimum of Rs.3 lakh |
Annual turnover should be a minimum of Rs.10 lakh |
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Citizenship |
Individuals with Indian citizenship |
Individuals with Indian citizenship |
Proprietor / Partners / Directors with Indian citizenship |
Documents Required To Avail India Home Loan
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Salaried Individuals |
Self-Employed Individuals |
Firm / Company |
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Identity Documents |
Aadhaar Card Passport Voter's ID Card PAN Card Driving License
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Aadhaar Card Passport Voter's ID Card PAN Card Driving License
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Firm/Company PAN Card, GST Registration Certificate (If applicable), and Other Applicable Registration KYC of Partners / Directors PAN Card and Aadhaar Card PAN Card |
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Address proof |
The electricity bill for owned premises(up to 3 months) Rent agreement for Rented premises Passport |
The electricity bill for owned premises(up to 3 months) Rent agreement for Rented premises Passport |
The electricity bill for owned premises Rent agreement for Rented premises Passport for Partner / Directors |
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Income Proof |
Last 2 month’s salary slip Form 16 of last 2 years.
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Income Tax Returns for the last 2 years Profit/Loss statement and balance sheet for the latest 2 years
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Income Tax Returns along for the last 2 years Profit/Loss statement and balance sheet for the latest 2 years GST Returns |
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Business / Employment proof |
Offer letter Salary certificate of last 1 year (with company stamp) |
Partnership deed No encumbrance documents Previous chain of documents from the earlier owner(if any property approval plan) |
Partnership deed No encumbrance documents Previous chain of documents from the earlier owner(if any property approval plan) |
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Bank Account Statement |
bank account statement of the latest 6 months and past 1 year |
Operative bank account statement for the latest 6 months |
Operative bank account statement for the latest 6 months |
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Other document |
Application form with duly signed Passport size photograph Processing cheque Original and photocopies of property documents. Form 26 (If form 16 is not available) Sanction letter / account statement(if any running loan) Salary certificate of 1 year IT returns |
Application form with duly signed Passport size photograph Processing cheque Original and photocopies of property documents. Gumasta license Sanction letter / account statement(if any running loan) Bank statement (payment made to the builder)
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Application form with duly signed Passport size photograph Processing cheque Original and photocopies of property documents. Gumasta license Sanction letter / account statement(if any running loan) Bank statement (payment made to the builder)
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*The aforementioned list of documents for an Indiabulls Home Loan is general. Extra documents may be needed at the time of loan processing.
Follow these tips to improve your Indiabulls Home Loan Eligibility –
Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting
Try to build a CIBIL score above 750
Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness
Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.
A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.
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