India Infoline Housing Finance Limited

Home Loan

Interest Rates

A new home brings with it new hopes, joys and emotions. At IIFL, we have shared new hopes, joys and emotions with our customers. Every customer has a specific and unique concern and our home loan product is customized to provide you solutions for your unique concern. IIFL group has set up India Infoline Housing Finance Ltd. (IIHFL) to offer highly customized facilities of availing Home Loans.

We believe that in order to succeed, we need to offer not only competitive products, but also the best possible service and value-added features and benefits. In a market where the basic product is largely similar, the differentiator is our ability to understand the customer's need completely and structure the value-adds appropriately.

Loan Features

  • Home loan amount suited to your needs
  • Home loan tenure upto 20 years
  • Simplified documentation
  • Loan to value upto 80% offered. Finance of registration and stamp duty is not permissible as per prevailing guidelines and hence will not be included in the calculations
  • Purpose:
    • Purchase of residential units (apartment/row-house/bungalow)
    • Purchase of residential plots
    • Self- construction of residential property
    • Under-construction residential property
    • Repair/Up gradation of housing units
    • Refinancing of purchase or construction within 6 months
    • Other mortgage loans can be sanctioned at the sole discretion of IIHFL
  • Insurance options for your Home loan at attractive premium

No matter what the requirement, we have an appropriate plan for you. Get the best deals, and finance your perfect home, only from IIHFL

Key Customer segments

  • Salaried class: Corporate salaried employees, Government employees & salaried consultants.
  • Self employed: Proprietorship, Partnership, Companies & Professionals.

Eligibility Income criteria

Salaried

Gross salary of Rs. 2 Lacs p.a.

Self Employed

Min. Profit after tax of Rs. 2 Lacs p.a.

Mandatory Rule

The minimum income shall be computed by taking the income of applicant and one co-applicant.

Where a guarantor is taken, the guarantor should also meet the minimum income criteria

Documentation - Salaried Customer

Document Corporate Salaried Government Employees Salaried Consultants
Latest Two salary slips for a period not preceding max 90 days from the date of the application. In case of incentives last 6 months salary slips required Y
(Duly signed salary certificate also acceptable)
Y
(Duly signed salary certificate also acceptable)
Y
Latest Form 16 from the employer or ITR Y Y Y
Latest 6 months bank statement reflecting salary credit for a period not exceeding 90 days from the date of the application Y Y Y
Proof of Continuity of service / Work Experience Self declaration confirming 2 yrs of cumulative work experience captured on application form Letter from employer confirming the same or previous year’s Form 16 validating the same Letter from employer confirming the same or previous year’s Form 16 / Form 16 A validating the same

Documentation – Self Employed Customers

Document Sole Proprietors Partnership Firm Corporate
Financial Statements
  • ITR (2 years for cases up to INR 10.0 MM and 3 years for cases above INR 10.0 MM)
  • Computation of Income
  • Balance Sheet, P&L with accompanying schedules & notes
Y Y Y
6 months bank statement of the main business account for a period not exceeding 45 days from the date of the application
  • 12 months bank statement in case of SIP cases
Y Y Y
CA Certificate –
  • List of directors / partners / co-parceners
  • Shareholding of directors / shareholding pattern of partners
NA Y Y
CA attestation on financials with seal Y Y Y
Proof of continuity of business (on CA’s letter head with his signature, stamp and membership number) ITR for 3 yrs validating the same 5 yrs for exporters Partnership deed certifying at least 3 years of continuous business operations 5 yrs for exporters MOA / AOA certifying at least 3 years of continuous business operations 5 yrs for exporters
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