Indiabulls Home Loan Review| North Loop Official Blog
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09 Sep 2020

Indiabulls Home Loan Review

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Credit: North Loop

Indiabulls Background and Overview –

Indiabulls Housing Finance Limited is India’s second-largest housing finance company and is regulated by the National Housing Bank. It offers diverse financial products and services with a specialization in housing finance, consumer finance and personal wealth. Headquartered in Gurugram, India, Indiabulls is a popular mortgage lender in the country.

Indiabulls home loan eligibility criteria –

You can apply for the Indiabulls home loan as a salaried individual or a self-employed professional. Indiabulls home loan applies to both residents of India as well as NRIs and the age limit applicable for the former is between 18 to 65 years. However, if you are an NRI, you can only apply for the home loan after reaching the age of 21 years.

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Indiabulls home loan –

Indiabulls home loan offers various schemes to suit your different home loan requirements. It has a flexible repayment option as well as a flexible tenure of up to 30 years.

The LTV (Loan to Value) ratio is up to 90% of the property value and the processing charges on its loan is around 1% of the loan amount along with additional GST.

Though Indiabulls home loan offers attractive interest rates, it involves a variety of charges such as prepayment charges, PDC/ECS dishonour charges, late payment charges as well as charges for the statement of amortization schedule. You can avail home loans at better interest rates and fewer fees with providers like North Loop.

Indiabulls home loan interest rate –

The Indiabulls home loan interest rates begin from 8.99% and can go up to 12% depending on the loan scheme you opt for and your loan amount. If you are an NRI, the Indiabulls home loan interest rates range between 8.80% and 12%.

Documents –

The documents required for availing an Indiabulls home loan varies depending on your profession, income and loan amount. If you are a salaried resident Indian, the documents required to apply for Indiabulls home loan are –

  • Passport-sized photograph
  • Proof of Identity
  • Proof of Address
  • Processing fee cheque
  • Property documents
  • Form 16
  • Letter of employment
  • IT returns for the last three years


If you are self-employed, the documents required to apply for Indiabulls home loan are all of the above along with additional proofs like –

  • Income Tax Returns (ITR) of the last 3 years
  • Attested Balance Sheet of the Company/Firm
  • Profit & Loss
  • Bank account Statement of the Company
  • Business License Details
  • Proof of Business Address


If you are a Non-Resident Indian, the documents required by you to apply for Indiabulls home loan are –

  • Passport-sized photograph
  • Identity proof
  • Residential address proof
  • Salary slips of the last 3 months
  • NRE/NRO Bank account statement of the last 6 months
  • Credit report
  • Audited Profit and loss statement
  • Audited Balance sheet
  • Income Tax Returns of the last 2 years
  • Property-related papers
  • Processing fee cheque

Application process -

You can apply for Indiabulls home loan online through their website and choose the best home loan option. You can also track your application status with the help of the reference number you receive on applying.

However, keeping in view all the other options available in India for home loans, Indiabulls falls short on a variety of fronts. The benefits offered on the Indiabulls home loan are limited and the rates are not competitive enough.

Moreover, the long list of documents required to fulfil the eligibility criteria is an added stress. You can apply for home loans in India at significantly lower rates and lesser documents with providers like North Loop. The application process at North Loop is quick and the interface is easy to use and extremely user-friendly. Also, you can get professional assistance to guide you through the various home loan options and EMIs available to choose the one that is best suited to your needs.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.