IIFL Finance Home Loan Interest Rates
IIFL Finance Home Loan Interest Rates
Mar 20, 2024
15 Mins
IIFL Finance, a renowned financial institution, provides home loans to both salaried and self-employed Indian residents. The interest rates on these home loans start from 8.2% per annum, and the repayment tenure can extend up to 25 years. What's more, you can apply for a loan starting from INR 2 lakhs. The benefits of IIFL home loans include quick approval within 25 minutes, zero prepayment charges, minimal documentation, and the option for balance loan transfer.
IIFL Finance Home Loan Interest Rate Offer
Attention all home loan seekers! IIFL Finance is currently offering a home loan interest rate of 8.5%, making it an attractive deal. The loan is available for amounts ranging from ₹1 lakh to ₹2 crore, with a flexible tenure of 1 to 30 years. The estimated Equated Monthly Installment (EMI) for a loan amount of ₹2,052 per lakh is quite reasonable. To find out more details and to apply, simply enquire now. Don't miss out on this exciting home loan offer from IIFL Finance.
Comparing IIFL Finance Home Loan Interest Rates with Other Lenders
When finalizing a bank or financial institution for your home loan, it's essential to compare the product with other lenders. This will enable you to make a more informed decision. Let's take a look at how IIFL home loan interest rates compare with other lenders:
1. Clix Capital Home Loan Interest Rate:
Starting Interest Rate (p.a): 15% - 25%
Processing Fee: Up to 10% of loan sanctioned
Rating: 4.5
Min. Loan Amount: ₹2 lakh - ₹2 crore
Tenure: 1 - 25 years
Enquire Now
2. Ujjivan Small Finance Bank Home Loan Interest Rate:
Starting Interest Rate (p.a): 13.75% - 17.75%
Rating: 4.5
Min. Loan Amount: ₹2 lakh - ₹75 lakh
Tenure: 3 - 20 years
Enquire Now
3. Hero FinCorp Home Loan Interest Rate:
Interest Rate: 13.22%
Processing Fee: 2.5% of the loan amount + applicable taxes
Rating: 4.5
Min. Loan Amount: ₹10 lakh - ₹3 crore
Tenure: 1 - 30 years
Enquire Now
4. Hero Housing Finance Home Loan Interest Rate:
Interest Rate: 13.22%
Rating: 4.5
Min. Loan Amount: ₹1 lakh - ₹3 crore
Tenure: Up to 30 years
Enquire Now
EMI Calculator and Balance Transfer
Planning your EMI payments? Use our EMI calculator to get an estimate. Additionally, if you already have a home loan with another bank, consider the option of a balance transfer to IIFL Finance for more favorable terms.
IIFL Home Loans - Easy and Convenient
Obtaining a home loan from IIFL Finance is hassle-free. Our seamless online application procedure ensures a smooth experience. Plus, you can take advantage of our competitive interest rates and flexible repayment tenure of up to 25 years. IIFL Home Loans cater to various customer needs, providing technical and legal assistance. Whether you're looking to buy a plot, home, apartment, or bungalow, IIFL Finance has got you covered. With our quick disbursal digital loan application process, you can fulfill your dreams sooner.
IIFL Home Loan Interest Rates in 2024
IIFL offers a range of housing finance schemes tailored to meet diverse customer needs. Whether you're looking to build a new home or renovate an existing one, IIFL provides home loans at competitive interest rates starting from 8.20% onwards.
The offered interest rate is determined based on factors such as credit score, work profile, financial history, monthly income, existing debt, and more. It's advisable to work on improving your credit profile before applying for a home loan. This can expedite the loan application process and increase your chances of approval.
Key Highlights of IIFL Home Loans
- Home Loan Interest Rate: Starting from 8.20% per annum onwards
- Loan Amount: From INR 2 lakh onwards
- Loan Tenure: Up to 25 years (maximum)
- Processing Charges: Usually 1.75% of the approved loan amount
IIFL Home Loan Interest Rates on Loan Schemes
IIFL offers a wide range of housing finance schemes to meet various customer requirements, including:
1. IIFL Secured SME Loan:
- Interest Rate: From 11.5% per annum
- Processing Fee: Up to 2% of the loan amount
2. IIFL Home Loan Balance Transfer:
- Interest Rate: Starting from 10.25% per annum
- Processing Fee: From INR 3,000 to 1.75% of the approved loan amount
3. IIFL New Home Loan:
- Interest Rate: Starting from 8.70% per annum onwards
- Processing Fee: 1.75% of the approved home loan amount
4. IIFL Home Improvement Loan:
- Interest Rate: Starting from 8.7% per annum onwards
- Processing Fee: INR 3,000 to 1.75% of the approved loan amount
5. IIFL NRI Home Loan:
- Interest Rate: Starting from 8.70% per annum onwards
- Processing Fee: Up to 1.75% of the approved home loan amount
6. IIFL Pradhan Mantri Awas Yojana:
- Interest Subsidy: Starting from 6.5% per annum onwards
- Processing Fee: 1.75% of the approved home loan amount
7. Shakti Loan Against Property:
- Interest Rate: Available at attractive rates
- Processing Fee: Varies based on loan amount
Home Loan for Uniformed Services
IIFL Finance offers an exclusive home loan scheme for uniformed and armed forces branches. This program, called "Residential Home Loan for Uniformed Services," is available to all members of the Indian Defence Forces, including paramilitary forces. Current employees and retired pensioners can apply for this loan, which offers exclusive interest rates, lower processing charges, and free health insurance up to INR 3 lakh.
IIFL Home Interest for Salaried and Self-Employed
IIFL Finance caters to both salaried and self-employed individuals with its home loan offerings. The applicable interest rates for salaried employees and self-employed individuals start from 8.20% per annum.
IIFL Home Loan Balance Transfer Rates
Customers can avail balance transfer home loans from IIFL Finance at lower interest rates. The offered interest rates for balance transfers start from 8.20% onwards for both salaried employees and self-employed individuals.
IIFL Home Loan Interest Rates for Government Employees
IIFL Finance provides home loans to government employees at attractive interest rates starting from 8.20% onwards. However, no additional benefits are offered specifically for government employees.
IIFL Finance Home Loan Interest Rate for Women
IIFL Finance offers home loans to working women professionals at an attractive interest rate starting from 8.20%. Please note that home loans are not available for homemakers. To secure housing finance from IIFL, applicants must meet the set eligibility criteria.
IIFL Finance Home Loan Interest Rate for NRIs
Non-Resident Indians (NRIs) interested in purchasing residential or commercial property in India can apply for IIFL NRI home loans. However, NRIs must meet the eligibility criteria set by IIFL to secure a home loan at attractive interest rates. The offered interest rates may vary based on the applicant's credibility. To determine the exact interest rates, it is recommended to get in touch with the bank.
Comparing IIFL Home Loan Interest Rates and Other Charges
When applying for an IIFL home loan, it is crucial to familiarize yourself with the associated charges to determine the total cost of the loan. This information will help you understand any costs you may incur when making part-prepayments or deciding to foreclose your loan.
In addition to the interest rate, below are the charges associated with IIFL home loans:
- Loan Processing Fees: Up to 1.75% of the approved loan amount
- Collateral Evaluation Charges in Home Loan Non-AFP: INR 3000
- Charges Associated with Late Payment: Up to 18% p.a. of the remaining debt amount
- Loan Foreclosure Charges: Not Applicable
Calculating IIFL Home Loan Interest
Calculating the IIFL home loan interest rate is a breeze with Urban Money's high-tech interest rate calculator. Simply enter the loan amount, interest rate, and repayment tenure to obtain an estimate of your monthly EMIs and the interest component you will pay over the loan term.
Alternatively, you can use the following formula to calculate the EMI:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
In this formula:
P represents the principal home loan amount
R denotes the applicable IIFL home loan interest rate
N signifies the number of EMIs to be paid over the loan's repayment tenure
Benefits of IIFL Home Loan Interest Rates
IIFL Finance offers a wide range of home loan schemes to suit various customer needs, including PMAY, Loan Against Property, and Property Loans for SMEs, among others. These schemes are available at attractive interest rates starting from 8.20% onwards. Compared to other major Indian banks, IIFL home loan interest rates are relatively lower.
Factors Affecting IIFL Home Loan Interest Rate and EMI
The offered home loan interest rates may vary depending on the applicant's credit profile. Various factors influence this variation, such as the location of the property, loan-to-value ratio, applicant's income and job profile, chosen repayment tenure, and credit or CIBIL score.
To summarize, IIFL Finance offers competitive home loan interest rates, flexible repayment options, and an array of schemes to cater to diverse customer requirements. Whether you're a salaried individual, self-employed professional, government employee, or an NRI, IIFL has tailored loan options suitable for your needs. Remember to compare the rates and charges with other lenders before making your final decision.
IIFL Finance, a renowned financial institution, provides home loans to both salaried and self-employed Indian residents. The interest rates on these home loans start from 8.2% per annum, and the repayment tenure can extend up to 25 years. What's more, you can apply for a loan starting from INR 2 lakhs. The benefits of IIFL home loans include quick approval within 25 minutes, zero prepayment charges, minimal documentation, and the option for balance loan transfer.
IIFL Finance Home Loan Interest Rate Offer
Attention all home loan seekers! IIFL Finance is currently offering a home loan interest rate of 8.5%, making it an attractive deal. The loan is available for amounts ranging from ₹1 lakh to ₹2 crore, with a flexible tenure of 1 to 30 years. The estimated Equated Monthly Installment (EMI) for a loan amount of ₹2,052 per lakh is quite reasonable. To find out more details and to apply, simply enquire now. Don't miss out on this exciting home loan offer from IIFL Finance.
Comparing IIFL Finance Home Loan Interest Rates with Other Lenders
When finalizing a bank or financial institution for your home loan, it's essential to compare the product with other lenders. This will enable you to make a more informed decision. Let's take a look at how IIFL home loan interest rates compare with other lenders:
1. Clix Capital Home Loan Interest Rate:
Starting Interest Rate (p.a): 15% - 25%
Processing Fee: Up to 10% of loan sanctioned
Rating: 4.5
Min. Loan Amount: ₹2 lakh - ₹2 crore
Tenure: 1 - 25 years
Enquire Now
2. Ujjivan Small Finance Bank Home Loan Interest Rate:
Starting Interest Rate (p.a): 13.75% - 17.75%
Rating: 4.5
Min. Loan Amount: ₹2 lakh - ₹75 lakh
Tenure: 3 - 20 years
Enquire Now
3. Hero FinCorp Home Loan Interest Rate:
Interest Rate: 13.22%
Processing Fee: 2.5% of the loan amount + applicable taxes
Rating: 4.5
Min. Loan Amount: ₹10 lakh - ₹3 crore
Tenure: 1 - 30 years
Enquire Now
4. Hero Housing Finance Home Loan Interest Rate:
Interest Rate: 13.22%
Rating: 4.5
Min. Loan Amount: ₹1 lakh - ₹3 crore
Tenure: Up to 30 years
Enquire Now
EMI Calculator and Balance Transfer
Planning your EMI payments? Use our EMI calculator to get an estimate. Additionally, if you already have a home loan with another bank, consider the option of a balance transfer to IIFL Finance for more favorable terms.
IIFL Home Loans - Easy and Convenient
Obtaining a home loan from IIFL Finance is hassle-free. Our seamless online application procedure ensures a smooth experience. Plus, you can take advantage of our competitive interest rates and flexible repayment tenure of up to 25 years. IIFL Home Loans cater to various customer needs, providing technical and legal assistance. Whether you're looking to buy a plot, home, apartment, or bungalow, IIFL Finance has got you covered. With our quick disbursal digital loan application process, you can fulfill your dreams sooner.
IIFL Home Loan Interest Rates in 2024
IIFL offers a range of housing finance schemes tailored to meet diverse customer needs. Whether you're looking to build a new home or renovate an existing one, IIFL provides home loans at competitive interest rates starting from 8.20% onwards.
The offered interest rate is determined based on factors such as credit score, work profile, financial history, monthly income, existing debt, and more. It's advisable to work on improving your credit profile before applying for a home loan. This can expedite the loan application process and increase your chances of approval.
Key Highlights of IIFL Home Loans
- Home Loan Interest Rate: Starting from 8.20% per annum onwards
- Loan Amount: From INR 2 lakh onwards
- Loan Tenure: Up to 25 years (maximum)
- Processing Charges: Usually 1.75% of the approved loan amount
IIFL Home Loan Interest Rates on Loan Schemes
IIFL offers a wide range of housing finance schemes to meet various customer requirements, including:
1. IIFL Secured SME Loan:
- Interest Rate: From 11.5% per annum
- Processing Fee: Up to 2% of the loan amount
2. IIFL Home Loan Balance Transfer:
- Interest Rate: Starting from 10.25% per annum
- Processing Fee: From INR 3,000 to 1.75% of the approved loan amount
3. IIFL New Home Loan:
- Interest Rate: Starting from 8.70% per annum onwards
- Processing Fee: 1.75% of the approved home loan amount
4. IIFL Home Improvement Loan:
- Interest Rate: Starting from 8.7% per annum onwards
- Processing Fee: INR 3,000 to 1.75% of the approved loan amount
5. IIFL NRI Home Loan:
- Interest Rate: Starting from 8.70% per annum onwards
- Processing Fee: Up to 1.75% of the approved home loan amount
6. IIFL Pradhan Mantri Awas Yojana:
- Interest Subsidy: Starting from 6.5% per annum onwards
- Processing Fee: 1.75% of the approved home loan amount
7. Shakti Loan Against Property:
- Interest Rate: Available at attractive rates
- Processing Fee: Varies based on loan amount
Home Loan for Uniformed Services
IIFL Finance offers an exclusive home loan scheme for uniformed and armed forces branches. This program, called "Residential Home Loan for Uniformed Services," is available to all members of the Indian Defence Forces, including paramilitary forces. Current employees and retired pensioners can apply for this loan, which offers exclusive interest rates, lower processing charges, and free health insurance up to INR 3 lakh.
IIFL Home Interest for Salaried and Self-Employed
IIFL Finance caters to both salaried and self-employed individuals with its home loan offerings. The applicable interest rates for salaried employees and self-employed individuals start from 8.20% per annum.
IIFL Home Loan Balance Transfer Rates
Customers can avail balance transfer home loans from IIFL Finance at lower interest rates. The offered interest rates for balance transfers start from 8.20% onwards for both salaried employees and self-employed individuals.
IIFL Home Loan Interest Rates for Government Employees
IIFL Finance provides home loans to government employees at attractive interest rates starting from 8.20% onwards. However, no additional benefits are offered specifically for government employees.
IIFL Finance Home Loan Interest Rate for Women
IIFL Finance offers home loans to working women professionals at an attractive interest rate starting from 8.20%. Please note that home loans are not available for homemakers. To secure housing finance from IIFL, applicants must meet the set eligibility criteria.
IIFL Finance Home Loan Interest Rate for NRIs
Non-Resident Indians (NRIs) interested in purchasing residential or commercial property in India can apply for IIFL NRI home loans. However, NRIs must meet the eligibility criteria set by IIFL to secure a home loan at attractive interest rates. The offered interest rates may vary based on the applicant's credibility. To determine the exact interest rates, it is recommended to get in touch with the bank.
Comparing IIFL Home Loan Interest Rates and Other Charges
When applying for an IIFL home loan, it is crucial to familiarize yourself with the associated charges to determine the total cost of the loan. This information will help you understand any costs you may incur when making part-prepayments or deciding to foreclose your loan.
In addition to the interest rate, below are the charges associated with IIFL home loans:
- Loan Processing Fees: Up to 1.75% of the approved loan amount
- Collateral Evaluation Charges in Home Loan Non-AFP: INR 3000
- Charges Associated with Late Payment: Up to 18% p.a. of the remaining debt amount
- Loan Foreclosure Charges: Not Applicable
Calculating IIFL Home Loan Interest
Calculating the IIFL home loan interest rate is a breeze with Urban Money's high-tech interest rate calculator. Simply enter the loan amount, interest rate, and repayment tenure to obtain an estimate of your monthly EMIs and the interest component you will pay over the loan term.
Alternatively, you can use the following formula to calculate the EMI:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
In this formula:
P represents the principal home loan amount
R denotes the applicable IIFL home loan interest rate
N signifies the number of EMIs to be paid over the loan's repayment tenure
Benefits of IIFL Home Loan Interest Rates
IIFL Finance offers a wide range of home loan schemes to suit various customer needs, including PMAY, Loan Against Property, and Property Loans for SMEs, among others. These schemes are available at attractive interest rates starting from 8.20% onwards. Compared to other major Indian banks, IIFL home loan interest rates are relatively lower.
Factors Affecting IIFL Home Loan Interest Rate and EMI
The offered home loan interest rates may vary depending on the applicant's credit profile. Various factors influence this variation, such as the location of the property, loan-to-value ratio, applicant's income and job profile, chosen repayment tenure, and credit or CIBIL score.
To summarize, IIFL Finance offers competitive home loan interest rates, flexible repayment options, and an array of schemes to cater to diverse customer requirements. Whether you're a salaried individual, self-employed professional, government employee, or an NRI, IIFL has tailored loan options suitable for your needs. Remember to compare the rates and charges with other lenders before making your final decision.
Author
Pluto Team
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