Overview
IIFL
IIFL Home Loans offers attractive and flexible home loan options tailored to meet diverse property financing needs. With competitive interest rates starting at 8.75% p.a. and a maximum tenure of 30 years, you can avail loans up to ₹5 crore. Whether you’re planning to purchase a new home, construct one, or renovate an existing property, IIFL ensures a seamless loan process to bring your dreams to life.
Rate of Interest
8.75% - 10.5%
Loan to Value
80% - 90%
Loan Tenure
Max 30 years
Max Loan Amount
Upto 5cr
| Rate of Interest | 8.75% - 10.5% |
| Loan Tenure | Max 30 years |
| Age | Salaried/ Self Employed : 18-75 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 5cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Loan Against Property, Secured Business Loan, Home Loan for Uniformed Sevices, NRI Home Loan |
| Processing Fees | Up to 1.75% of the loan amount |
| Other Charges | Late Payment Charges- 18% per annum on the overdue loan amount |
| Overdraft Facilities | |
| Highlights | • Customized repayment solutions • All round assistance • No prepayment charges • Door step services • Minimal documentation |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.75% - 10.5% |
| Monthly EMI | ₹ 44,185 - ₹ 49,918 |
Additionally, their offerings include special schemes for various customer segments and features like balance transfer and top-up loans, making IIFL Home Loans a trusted choice for homeowners.
Eligibility Criteria for IIFL Home Loan
| Criteria | Salaried | Self-employed |
|---|---|---|
| Age Range | 18-75 years | 18-75 years |
| Nationality | Indian/NRI/PIO | Indian/NRI/PIO |
| Maximum Age at Final Repayment | 75 years | 75 years |
Calculate your IIFL home loan eligibility and unlock exclusive offers for you!
IIFL Home Loan Interest Rates
Standard Home Loan Rates
| Salaried ROI | Self Employed ROI |
|---|---|
| 8.75% p.a onwards | 8.75% p.a onwards |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
IIFL Home Loan Processing Fee and Charges
Processing Charges
| Charge Type | Amount |
|---|---|
| Processing Fees | Up to 1.75% |
| Collateral Evaluation Charges in Home Loan Non-APF | ₹3,000 |
| Late Payment Charges | 18% per annum on the overdue loan amount |
| Foreclosure Charges | Nil When loan is availed by the company: Within 12 months of 1st Disbursement – 5% of amount prepaid + taxes Post 12 months till fixed rate tenor – 3% of amount prepaid + taxes |
IIFL Home Loan Documents
Identity Documents
| Doc Name | Salaried | Self Employed |
|---|---|---|
| PAN | ✔ | ✔ |
| Voter ID | ✔ | ✔ |
| Passport | ✔ | ✔ |
| Driving Licence | ✔ | ✔ |
| Aadhar Card | ✔ | ✔ |
Proof of Income
| Doc Name | Salaried | Self Employed |
|---|---|---|
| Form 16/ITR | ✔ | ✔ |
| Bank Statement | ✔ | ✔ |
| Salary Slip/Certificate | ✔ | ✖ |
| Aadhar Card | ✔ | ✔ |
Property Documents
| Document Name | Salaried | Self Employed |
|---|---|---|
| Copy of chain documents of the property (if applicable) | ✔ | ✔ |
| Copy of Receipt made to the developer (if applicable) | ✔ | ✔ |
| Copy of Buyer Agreement | ✔ | ✔ |
| Copy of Agreement to Sell (if executed) | ✔ | ✔ |
IIFL Home Loan Schemes and Top Plans
Comparison
| Feature | Standard Home Loan | Sakthi Loan Against Property | Secured Business Loan | Balance Transfer | Home Improvement Loan | NRI Loan |
|---|---|---|---|---|---|---|
| Minimum Loan Amount | from ₹2 lakhs* | from ₹2 lakhs* | – | – | – | – |
| Maximum Loan Amount | – | – | up to ₹10 crore | – | up to ₹ 50 Lakhs | – |
| Interest Rate | 8.75% per annum onwards | – | 10.75% onwards | – | from 8.90% p.a | – |
| Tenure | up to 30 years | up to 7 years | up to 12 years | up to 20 years | up to 25 years | – |
| Eligible Applicants | salaried or self-employed | Both salaried and self-employed individuals | Must be an Indian resident, either salaried or self-employed | should have at least paid EMIs for 12 months with your existing loan | Both salaried and self-employed candidates between the ages of 18 to 75 years | Any Indian citizen (salaried or self-employed) between the age group 18 to 75 years can apply for the loan |
Details
IIFL Standard Home Loan
- Minimum Loan Amount: ₹2 lakh
- Interest Rate: 8.75% per annum onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried/Self-employed
Sakthi Loan Against Property
- Minimum Loan Amount: ₹2 lakh
- Tenure: Up to 7 years
- Eligible Applicants: Both Salaried and Self-employed
Secured Business Loan
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 10.75% p.a. onwards
- Tenure: Up to 12 years
- Eligible Applicants: Must be an Indian resident, either salaried or self-employed
Balance Transfer
- Maximum Loan Amount: up to ₹ 50 Lakhs
- Interest Rate: From 8.90% p.a. onwards
- Tenure: Up to 25 years
- Eligible Applicants: Should have at least paid EMIs for 12 months with your existing loan
Home Improvement Loan
- Maximum Loan Amount: up to ₹ 50 Lakhs
- Interest Rate: From 8.90% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Both salaried and self-employed candidates between the ages of 18 to 75 years
NRI Loan
- Eligible Applicants: Any Indian citizen (salaried or self-employed) between the age group 18 to 75 years can apply for the loan
How to Apply
Applying for an IIFL home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest IIFL branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get IIFL Bank’s best rates in a single call.
IIFL Customer Care
To facilitate effective communication with customers, in addition, IIFL offers various channels for customer support.
| Service | Details |
|---|---|
| Email ID | gold-helpline@iifl.com |
| Home Loan Enquiry through WhatsApp | 1860-267-3000, 7039-050-000 |
| Online form for registering enquiry/complaint/feedback | Register your complaint |
| Official Address | IIFL Finance Limited, 802, 8th Floor, Hubtown Solaris, N. S. Phadke Marg, Vijay Nagar, Andheri East, Mumbai – 400 069 |
| Website | https://www.iifl.com/contact-us |
Comparison
For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.5% p.a. onwards | 8.5% p.a. onwards | 8.5% p.a. onwards |
| HDFC Bank | 8.7% p.a. onwards | 8.7% p.a. onwards | 8.7% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Frequently Asked Questions
Yes, IIFL is considered a good option for home loans, offering competitive interest rates, flexible repayment options, and quick processing times. Many customers appreciate their customer service and tailored loan solutions.
Yes, taking a loan from IIFL is safe. IIFL is a well-established financial institution in India, regulated by the Reserve Bank of India (RBI), ensuring adherence to strict financial and operational standards.
IIFL is a trusted name in the financial sector with a strong track record of serving millions of customers. It is known for its transparency, customer-centric approach, and a wide range of financial products.
Yes, IIFL is approved and regulated by the Reserve Bank of India (RBI), which oversees its operations to ensure compliance with Indian banking and financial regulations.