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You can own a home of your choice with the help of Indiabulls Home Loans because the company offers competitive interest rates. Various factors, such as your profile, tenure, loan amount, and type of property, determine our rates and charges.
Applicable Fees
Interest rate
Indiabulls Home Loan interest rate is determined based on the assessment of the business, financials, loan amount, and tenure. The interest rate starting from 7.60% annually would help you control costs and keep your EMIs manageable.
Processing charges
There is a small processing fee for loan processing, verification, and other administrative services. The processing fee is 0.5% of the loan amount, along with the applicable taxes.
|
Description |
Charges |
|
Technical /Valuation and Legal opinion charges |
Rs.2,500 |
|
Balance transfer |
Rs.1,500 |
|
Cheque / NACH dishonor charges |
Rs.500 |
|
Late payment |
|
|
Retrieval charges (for copies of the loan) /property documents in IB custody |
Rs.500 |
|
Account statement charges/schedule amortization |
Rs.200 |
|
Certified copies of title deeds, if applicable. |
As per actual |
|
Loan agreement stamping |
As per actual |
|
Stamping charges (indemnity bond, legal undertakings, legal affidavits, personal guarantee bond, power of attorney for NRI home loans) |
As per actual |
|
Retrieval of original property documents for a specific activity like production at SRO or development authority (on borrower request) |
Rs.5,000 |
|
Database admin fee |
Rs.650 (inclusive of service tax) |
|
ROI switch fee Home Loan |
25% |
GST applies to all applicable fees and charges and must be paid in addition to them if applicable.
There are two kinds of Indiabulls Home Loan interest rates: fixed and floating.
Here, the rate of interest charged on the Indiabulls Home Loan amount will remain constant throughout the loan repayment period. You know your Indiabulls Home Loan EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.
Here, Indiabulls Home Loan interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating Indiabulls Home Loan interest rate makes it difficult for you to ascertain your monthly financial obligation.
There are two methods to calculate interest: flat rate method and the reducing balance method.
In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the Indiabulls Home Loan will be considered and calculated on the basis of the outstanding loan amount.
Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.
Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.
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I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
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