IndiaBulls Home Loan for Self Employed

When self-employed individuals want to buy their own house, they often consider getting a home loan. A home loan is money you borrow from a bank or a financial company to buy or build a house, and then you pay back this money over time with some extra amount called interest. IndiaBulls offers a special home loan just for people who work for themselves. This can be helpful because self-employed people might not have a regular salary like others. IndiaBulls makes it easier for them to show their income and get the loan they need to fulfil their dream of owning a home.

IndiaBulls Home Loan for Self-Employed – Highlights

Here is a simplified table showing the salient features of IndiaBulls Home Loan for Self-Employed:

IndiaBulls Home Loan for Self-Employed – Fees and Charges

Here are the fees and charges for IndiaBulls Home Loan for Self-Employed:

• Processing Fees: 0.50% of the loan amount as a one-time fee.
• Late Payment Charges: 24% per annum on unpaid EMIs.
• Original Property Documents Retrieval: Rs. 5,000 plus taxes for specific activities like production at government offices.

IndiaBulls Home Loan for Self-Employed – Documents Required

The following documents are essential to processing your application and should be gathered with care to ensure smooth approval and disbursal of your loan.

Application and Identity Verification

• Fully completed and signed loan application form.
• Proof of identity can be any of the following: Aadhaar card, PAN card, passport, driving licence, and voter ID.
• Additional official valid documents (OVDs) are required to confirm identity and address, such as the Aadhar Card, passport, driving licence, voter ID card, or their equivalent e-documents.

Property Related Documents

• Original property documents, including the Sale Deed.
• A no objection certificate (NOC) from the builder or housing society.
• A recent land tax receipt shows that taxes have been paid.
• Possession certificate of the property.

IndiaBulls Home Loan for Self-Employed – Eligibility Criteria 

To qualify for an IndiaBulls Home Loan if you’re self-employed, you must be at least 21 years old and not older than 65 when the loan ends. You should own an active business for at least three years. A good credit score (above 750) is crucial, along with consistent income proven by tax returns and other financial documents. The property must be in an area served by IndiaBulls, and you’ll need to provide all necessary documents related to your identity, income, and property.