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Bina subh waqt gawaye ₹999* mein apne ghar ka labh uthayein

Approval in just 30 minutes*

Loan starting from ₹2 lakhs*

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*Terms & Conditions apply.
Home in Rs.999 is initial money deposit (IMD).
Additional processing fees is applicable, if any.

The texts on this website have been translated using an automated translation tool and its accuracy cannot be guaranteed. We recommend referring to the English version of the content for the most precise information. In the event of any disputes or inconsistencies, the contents in the English language shall be considered final and binding. IIFL HFL disclaims any liability or responsibility in this matter.

What is Home Loan?

It is everyone’s dream to own a home, a place they can call their own in the hustle-bustle of life. A home for someone is more than just a place to stay, it is a place where they create memories, share moments, and extend support with their loved ones. Undoubtedly, purchasing a home is one of the best forms of investment, and at IIFL Home Loans, we make it easy for you to take this step.

However, we all know it takes a lot of research to narrow down your dream home be it location, size, price, etc. and the same applies to your home loan. It takes a lot of research to find the institution that suits you best.

With IIFL Home Loans' competitive interest rates, quick approvals, minimal documentation, and convenient EMI payments, more and more people are opting for a house loan to buy their dream home with us!

Home Loan Benefits

IIFL Home Loans provides the borrower with a wide range of features and benefits. The following are the benefits that an applicant gets with us.

  • Customized repayment solutions: With home loans tailored to your needs and requirements, you can enjoy convenient repayment solutions.

  • Minimal documentation: You can now enjoy getting your dream home with absolutely no hassle! With minimal documentation, not only you will save time and effort but also focus on the more important things that require your attention.

  • All-round assistance: You can connect with us and your dedicated relationship management at any point during your process for easy and convenient assistance.

  • Digital process: With a fully digital process, you can get your home loan approval in no time. All it takes is a few basic steps, and you are good to go - that too all digitally!

  • No prepayment charges: If you decide to opt for prepayment of the home loan, we understand! There are absolutely zero prepayment charges.

  • Door step services: You can enjoy your home loan process to be activated right from your doorstep. Everyone has a busy lifestyle, especially if you are in search of your house loan, that is why we are here to make it easier for you - right from your doorstep!

Why opt for IIFL Home Loans for Home Loan?

IIFL Home Loans offers New Home loans, Home Extension or Improvement loans, NRI Home loans, Balance Transfers, and loans against Properties at competitive home loan rates. We are also known for our unparalleled customer service with a quick turnaround time. IIFL Home Loans provides housing loans with minimal documentation and quick disbursals. You can easily apply for a home loan transfer online with us to avail all these benefits.

Home Loan Key Features

Quick loan approvals

With IIFL Home Loans, you can get the disbursal of your loan in a period as quick as 30 minutes*. Now you no longer have to wait days and days to proceed with the procedure of buying your dream home, it is just 30 minutes* away!

Easy balance transfer

As an applicant, you can take advantage of the quick and easy balance transfer facility that we provide, and also enjoy high loan top-up amounts.

High loan amounts

You can easily opt for a loan amount that helps you get the dream home you desire. With high loans starting from ₹2 Lakhs*, we enable you to tailor your loan amount based on your property requirements and financial needs.

Flexible tenure

Depending on the employment status and financial positioning, you, as a borrower can opt for a loan tenure that best suits your needs. With high tenures of up to 30 years, we wish for you to experience maximum convenience.

Low interest rates

With interest rates starting from just 8.75% pa, you can now enjoy easy EMI payments from the comfort of your new dream home.

Home Loan Eligibility

Eligibility Details

Typically, home loan eligibility depends on the applicant’s income and repayment capacity. However, some other factors come into play as well like age, occupation, etc. Anyone can apply for a home loan as long as they meet certain eligibility criteria set in place.

  • Nationality: The applicant should be a resident of India.

  • Age: The applicant should be within the age group of 18 to 75 years.

  • Occupation: The applicant must be salaried or self-employed.

Home Loan EMI Calculator

IIFL Home Loans EMI calculator provides you with an easy solution to conveniently calculate the equated monthly installments, i.e. EMIs of your home loan. The EMI calculator provides you with insights into how your monthly payments will look if you opt for a home loan and helps you make an informed decision.


Calculate your monthly EMI

When you consider applying for a home loan, there are certain documents you will be required to present depending on whether you are a salaried or self-employed individual. Here is a list for documents required for home loan for both such individuals:

Document Type Salaried
Application Form
Identity Proof
  • PAN (Mandatory)
  • Voter ID
  • Passport
  • Driving Licence
  • Aadhar Card
Address Proof
  • Passport
  • Voter ID
  • Driving Licence
  • Aadhar Card
Income & Other Documents
  • Salary Slip/Certificate
  • Form 16/ITR
  • Bank Statement
Property Documents
  • 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)
Document Type Self-employed
Application Form
Identity Proof
  • PAN (Mandatory)
  • Voter ID
  • Passport
  • Driving Licence
  • Aadhar Card
Address Proof
  • Passport
  • Voter ID
  • Driving Licence
  • Aadhar Card
Income & Other Documents
  • Form 16/ITR
  • Bank Statement
Property Documents
  • 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)

Interest rates play a very important role when it comes to evaluating a low. The higher the interest rates are on your home loans, the more will be your expenditure every month in meeting your EMI payments.

The interest component in the home loan indicates the price that is charged over and above the "principal" amount. The interest depends on the principal sum, interest rate, compounding frequency, and length of time over which it is lent or borrowed.

At IIFL Home Loans, the interest rate is linked to the Benchmark Prime Lending Rate, also known as BPLR, which helps us ensure transparency and appropriate pricing. The rate of interest varies for different borrowers as our housing finance team considers various parameters such as credit score, borrower profile, loan amount, property type, and others. All these factors contribute to the margin being higher or lower at the time of onboarding the customer.

Floating Interest-based Home Loan: As the name suggests, the rate of interest changes as per the changes in the market. As a borrower, if you are well informed about the market conditions and expect the rates to fall in the future, it is beneficial for you to select a floating interest rate on the home loan.

If you have evaluated and come to the decision of option for a home loan, you have to keep a few things on your checklist before you apply for the same. Here is an easy checklist for you to follow:

  • Negotiate: Before finalizing down on one single lender, make sure to explore your options in the market and negotiate the best deal for yourself. After all, you have to pay off your EMIs and interest charges for quite some time.

  • Check credentials: Make sure to do a thorough check on the attractive interests offered by the various lenders and the authenticity of the same.

  • Calculate the cost of a home loan: Take note of all the fees and charges involved apart from the interest rate as well and then evaluate the final costs.

  • Credit rating: Keep a check on your credit rating to know if you are eligible to opt for a home loan.

  • Terms and conditions: Read the terms & conditions thoroughly no matter what lender you choose.

Here's a step-by-step guide to applying for a loan against property:

  • Click the 'APPLY LOAN ONLINE' button available on the webpage.

  • Choose the type of loan you wish to apply for, either a home loan or a secured business loan (loan against property).

  • Provide essential details such as your full name and mobile number.

  • You will receive an OTP (One-Time Password) on the mobile number you provided. Enter the OTP to verify your contact information.

  • After verifying your phone number, generate and submit your OTP.

  • Enter your PAN Number and current city/location details.

  • Click on the 'SUBMIT' button to complete the application process.

While you can opt for a home loan with us to get quick and easy access to funds to get your dream home, there are certain fees and charges associated with the same. As mentioned previously, we provide attractive and cost-effective interest rates starting from as low as 8.75%.

IIFL Home Loans ensure maximum transparency when it comes to the fees that come along with a home loan, we want our clients to be on the same page as us and have no surprises or hidden charges when they are moving towards a special milestone in their life.

Here are the fees, over and above the interest rate charges that come along when one opts for an IIFL Home Loans:

The following is the list of fees & charges applicable to IIFL Home Loans:

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 comapany - Within 12 months of 1st Disbursement - 5% of amount prepaid + taxes
Post 12 months till fixed rate tenor - 3% of amount
prepaid + taxes

Your repayment schedule plays an important role in your home loan. Therefore, it is important to make the right decision and not be hasty about it. Here are the few modes via which you can settle your loan repayment:

Step-up repayment

This method involves the borrower starting his/her EMI payments with a smaller amount and gradually increasing them. However, this method involves the borrower paying more interest in the long term.

Step-down repayment

This mode of repayment involves larger EMI payments, to begin with, that gradually become smaller, allowing more of the payments towards the principal.


This method allows the borrower to repay the entire home loan, either partially or fully before the loan tenure. This reduces the EMI payments but might bring some prepayment penalties depending on the lender’s policies.

Late repayment

Some lenders might allow you an EMI holiday, giving you a temporary break from paying the EMIs. This allows financial relief during the initial stage. However, the deferred interest and EMI need to be paid later on.

Fixed and flexible installment plan

In a fixed EMI plan, your EMI remains constant for a fixed period. This ensures you are safe from market fluctuations if the interest is likely to rise. At the same time, in a flexible EMI plan, the EMI fluctuates as per the market. This method requires a change in EMI every month but offers flexibility.

Lump sum repayment

This method helps in fast-tracking paying down your home loan and is handy if you have a large chunk of cash and want to get rid of your debt as early as possible. Your payment will first be adjusted for the interest and then go toward the loan principal.

Balloon repayment

This type of lump sum repayment method, but your installments are scheduled at fixed intervals during the tenure.

Linking your loan and savings account

This can be a good way to reduce the interest liability. The higher the funds in your account, the lower the interest you owe.


Yes, if you wish to obtain a higher amount on your home loan you can apply with a co-applicant. Taking a co-applicant on board improves the combined credit score that makes you eligible for a higher home loan amount.

The processing fee is one of the fees and charges that you will be required to pay when taking a home loan. This fee is charged on a home loan as a one-time charge by the lender upon the acceptance of your home loan application. All lenders in the market don't need to charge you a processing fee, some might and some might not.

The home loan amount that you are eligible for depends on your income. The higher your income per annum, the more amount you can obtain. On top of this, if you have a good credit score and history you have a good chance of a high loan amount being sanctioned.

Typically, the repayment period starts once your home has started building or within one month of the home loan amount being disbursed. However, every lender might have their terms and policies for the same.

Generally, the co-owners are co-applicants in a home loan application. In most cases, these are close family members only.

Yes, you might be eligible for tax benefits on the principal and interest payments that come upon taking a housing loan as per sections 80C, 24(b), and 80EEA of the Income Tax Act, 1961. However, the benefits vary yearly so it is best to seek financial advice for the same.

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