If you have planned to buy a new property then you must need a lump sum of funds for it. And Indiabulls Housing Finance Limited provides you a home loan at a starting interest rate 8.99% onwards. And the advantage is that you can select your property from INR 4 lakh+ properties using IB Home Finder. Read this article and know the features of Indiabulls home loan which makes it the best home loan in India.
Indiabulls Home Loan Interest Rate
Home loans from Indiabulls come at an attractive rate of interest and women borrowers get home loans at a concessional rate of interest. Indiabulls home loan interest rate will depend on your.
Profile:- Indiabulls knows your eligibility for a home loan using your income repayment history. And both a salaried and self-employed individual can apply for the loan. If your income is good and the previous payment history is free from defaults then Indiabulls housing finance will consider your profile good and reduce the interest rate.
Loan Amount:- The interest rate also depends on the loan amount you borrow. To know how much you can borrow use the Indiabulls eligibility calculator. The aim of the tool is to provide a clear view to the customer to set a limit. But, it doesn’t mean you borrow an Indiabulls home loan up to the maximum eligible limit. If you do so then you end up paying a high EMI amount with more interest. Do you know why? Because in greed you borrow more and as its consequences the interest rate is high.
Tenure:- For Indiabulls home loan payment you get a flexible repayment tenure of 30 years. And you can choose a suitable repayment period using the online EMI tool. You just need to insert the details of the loan to generate the EMI amount. Suppose you want to borrow INR 45 lakh from Indiabulls Housing finance Ltd. to buy a property in Delhi, and the interest rate is 9.80% per annum. What could be its EMI? Don’t worry, with the help of Indiabulls home loan EMI calculator you can know the EMI amount which in this case is INR 47,808. The advantage is that with the flexible tenure of Indiabulls home loan, you can choose a tenure as per your repayment capacity.
Property Type:- The property you purchase also matters in deciding the interest rate. If you buy a house in a connected area near to market, school, etc. then the cost will be high so the security for the home loan. And if vice versa the case then your Indiabulls home loan interest rate will be high due to its property value.
And other risk parameters:- Not only your income and property are the factors which affect your home loan interest rate but, your credit score can also help you get a home loan at an attractive rate of interest. If your credit score is 750 or above then it's a good sign for you. Because you gain the negation power over the lender and convince to reduce the rate of interest if you are not satisfied with it.
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