You always think more than once when you decide to apply for a home loan. The first thing that bothers you is how much rate can you get and whether you will be able to pay the monthly installment. Indiabulls home loans are meant to help you live your dream. They offer the rate based on your repayment capacity so that it is easier for you to repay the loan.

Factors such as your income which shows your present and future repayment capacity, CIBIL score which shows how have you treated your past payments, your job stability will help Indiabulls rely on the payments, and last but not the least is your property location. Many people do not know that lenders have a preference list for property locations. In simple words, if you think that Indiabulls will approve your home loan for any location, it’s not true. So, make sure you check the location before buying the property so that you have better or more options.

For now, read this article to know Indiabulls home loan interest rates and later go through an example showing the functioning of EMI calculator. It will help you know how much will you have to pay if you get the lowest rate.

Indiabulls Home Loan Interest Rates

The rate of interest available for home loans ranges from 8.45%-9.75% per annum. The applicants having a good credit history and a score of 650 or above can expect easy approval for the desired rate.

Indiabulls Home Loan Calculator

An EMI calculator is used to calculate monthly installment on a loan. It requires the rate of interest, loan amount and maximum tenure based on which it shows the result. This helps in knowing your budget so that you are prepared for the payments in advance. For example, if your home loan gets sanctioned from Indiabulls, and your loan details are as follows:

  • Loan amount- ₹20,00,000
  • Interest rate- 8.75% p.a.
  • Tenure- 20 years

The EMI, Total Interest Outgo, and Total Amount (Principal+Interest) will be as follows:

EMI- ₹17674
Total Interest Outgo- ₹2241811
Total Amount- ₹4241811

Once you have checked the interest rate, you can use a home loan calculator to calculate payments that will be done from your end. This tool can be used as many times as you want without paying any fee from your end. You should know that it is also important to keep all the documents ready. Documents list is given below for your reference.

Documents Required

You need to keep all the below-listed documents to get approval for the loan:

  • Application form: duly signed
  • Processing Fee Cheque
  • Age proof
  • Address proof
  • Signature proof
  • Identity proof
  • Income documents
  • -If salaried: Salary slips, Form 16 and bank statement
    -If self-employed: ITRs with financial statements, Bank statement

  • Property Documents

You can now think about applying for a home loan at Indiabulls after going through the rates offered by them and documents you need to carry.

Author's Bio: 

Srishti Singh is a professional writer since 2014. She has given her inputs on topics from different genres such as social issues, entertainment, and finance. Here, she has shared her thoughts on Indiabulls home loan. This article will help you track the interest rate scenario at Indiabulls housing finance company