IIFL Finance Home Loan for Salaried Person

IIFL Finance, a leading financial services company, offers a variety of financial products to its customers. One of the key offerings is the IIFL Finance Home Loan for salaried individuals. This loan is designed to help salaried persons fulfil their dream of owning a home by providing flexible terms and competitive interest rates. Whether you are looking to buy a new home or refinance your existing home loan, IIFL Finance has a solution that can meet your needs. Let’s delve into the specifics of the IIFL Finance Home Loan for salaried persons.

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Written By
Amrita Sinha
Amrita Sinha
Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

IIFL Finance Home Loan for Salaried Person – Highlights

Below are the key highlights of the IIFL Finance Home Loan for salaried persons:

Features Details
Loan Amount Available The amount starts from 2 Lakh
Maximum Tenure of Repayment Up to 30 years
Interest Rates 8.75% p.a. Onwards
Processing Fees Up to 1.75%

IIFL Finance Home Loan for Salaried Person – Fees and Charges

The fees and charges associated with the IIFL Finance Home Loan for salaried persons are as follows:

Fees Details
Processing Fees Up to 1.75%
Late Payment Charges 18% per annum on the overdue loan amount
Foreclosure Charges Nil

IIFL Finance Home Loan for Salaried Person – Documents Required

The documentation required for the IIFL Finance Home Loan for salaried persons includes:

  • Proof of identity
  • Proof of address
  • Salary slips
  • Bank statements
  • Employment proof

IIFL Finance Home Loan for Salaried Person – Eligibility Criteria

To be eligible for the IIFL Finance Home Loan for salaried persons, applicants must meet the following criteria:

  • Be a salaried employee with a minimum period of service
  • Meet the required income criteria
  • Have a good credit score to qualify for competitive interest rates

Frequently Asked Questions (FAQs)

What is the repayment term for an IIFL Finance home loan for a salaried person?

The repayment term for an IIFL Finance Home Loan for salaried individuals can be up to 30 years, offering flexibility to choose a tenure that suits their financial situation.

What is the minimum age for an IIFL Finance home loan to a salaried person?

The minimum age requirement for an IIFL Finance Home Loan for salaried persons is 21 years at the time of loan application.

What is the Tenure limit for an IIFL Finance home loan to a salaried person?

The tenure limit for an IIFL Finance Home Loan for salaried persons is up to 30 years.

What is the minimum and maximum IIFL Finance home loan amount for a salaried person?

The minimum loan amount for an IIFL Finance Home Loan for salaried persons is ₹2 lakh, and the maximum loan amount is determined based on the applicant’s eligibility and financial profile.

Bank Wise Home Loan Interest Rate

Urban Money