IIFL Home Loan
IIFL Home Loan
IIFL Home Loan aims to make homeownership possible for every person in the country. The NBFC works towards offering housing finance options that are easy on the pocket and specifically targeted at first-time home buyers. Digital loan approval is one of the key highlights of IIFL Home Loan, which claims to approve housing loan applications within only 25 minutes! The interest rate starts at as low as 8.60% per annum with a processing fee between 0.50% and 1.75% levied on the applicant to cover the cost of loan application processing. Both salaried and self-employed customers, particularly from marginalized sections of society, are encouraged to avail home loan options at IIFL. The maximum tenure for loan repayment stands at 25 years, and home loans can be used for all purposes conceivable - buying or constructing a residential property or making upgrades or improvements on existing property. Additionally, the NBFC allows for Home Loan Balance Transfer as well, encouraging other bank customers to come and avail of the lower rate of interest that IIFL Home Loan has on offer.
IIFL Home Loan
Doorstep Support & Local Language
We're here to meet you where you are, in your language.
Works for Salaried & Self-Employed
Salaried or self-employed, we'll find the right loan for you.
Pan-India Reach
We serve customers in every corner of India, across tier 1, 2, and 3 cities.
Dedicated Relationship Manager
Get guidance from a dedicated expert, not a call centre.
IIFL Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
IIFL Home Loan Key Highlights
Get the lowest interest rates with IIFL Home Finance
Loan Amount: Up to Rs. 2 crore
Rate of Interest: 8.60% p.a. onwards
Processing Fee: 0.50%
1.75%
Maximum Tenure for Repayment: 25 years
Penal Rate of Interest: 18% p.a. Of EMI outstanding
Charges for Prepayment/Foreclosure: None
IIFL Home Loan Interest Rates in 2026
IIFL Home Loan offers a rate of interest starting at 8.60% to its housing finance applicants. This rate of interest (which may be subject to change by the NBFC) is offered at a home loan amount borrowed for a tenure of up to 25 years. IIFL also encourages customers of other banks and NBFCs to shift the balance loan amounts from their existing banks via the Home Loan Balance Transfer facility. This allows other bank customers to avail of the low-interest rate benefits that IIFL offers on its home loans. The table below indicates the IIFL home loan interest rate as of 2026 for different categories of loan applicants:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| For Salaried Employees | Starts at 8.60% per annum |
| For Self-Employed Applicants | Starts at 8.60% per annum |
IIFL Home Loan Eligibility Criteria
To be able to avail of a home loan facility with IIFL Home Loan, you must adhere to a set of predefined criteria by the NBFC, which is listed below. Please take a look at the IIFL home loan eligibility requirements before filing a loan application:
For Salaried Individuals
Age Range (in years)
18-75 years
Nationality
Resident Indian Citizen
Minimum Income
For Self-Employed Individuals
Age Range (in years)
18-75 years
Nationality
Resident Indian Citizen
Minimum Income
IIFL Home Loan Processing Fee and Charges
As part of the processing of the home loan application, IIFL charges its customers a nominal processing fee coupled with some additional charges to cover the cost involved in the process. Listed below are the complete details of the IIFL home loan processing fee and other charges that the company levies on its home loan applicants:
| Processing Fee | 0.50% - 1.75% |
| CERSAI Fees | For loan amounts more than Rs. 5 lakh: Rs. 100 For loan amounts less than Rs. 5 lakh: Rs. 50 |
| Charges for Late Payment | 18% per annum of the EMI outstanding |
| Legal Handling/Transaction Charges in Case of Loan Balance Transfer | Rs. 2,500 |
| Charges for ECS/Cheque Dishonour | Rs. 500 for each ECS/cheque bounce No charges on the representation of ECS/cheque |
| Prepayment/Foreclosure Charges | No foreclosure or part prepayment charges are levied on home loans issued to individuals on floating rate of interest In the case of non-individual entities: 5% of prepaid amount for full/partial prepayment within the first year |
IIFL Home Loan Schemes and Top Plans
IIFL Home Loan offers a variety of housing finance schemes to its customers to meet their varied requirements. Some of the top loan schemes offered by the company are listed below:
- Max loan amount: Up to Rs. 50 lakh
- Objective of the loan: To extend, renovate, and enhance the existing residential space
- Max loan tenure: Up to 25 years
- Subsidy offered: Up to Rs. 2,67,000
- Loan purpose: To enable people from economically weaker sections of society, Lower Income Groups (LIGs), and first-time home buyers from Middle-Income Groups (MIGs) to buy a home
- Amount of loan offered: Starting at Rs. 2 lakh
- Loan objective: To enable salaried and self-employed individuals to buy a residential property
- Loan tenure: Up to 25 years
- The loan is available only for resident Indian citizens
- Loan option specifically for Persons of Indian Origin (PIOs) or Non-Resident Indians (NRIs) who wish to buy residential properties in India
- Home loan plans can be availed by the personnel of the Indian Defence Forces and Paramilitary Forces (both working and retired)
- Free health insurance worth up to Rs. 3 lakh is offered for 12 months along with the loan amount, starting from the date of the first loan disbursal
- Loan can be availed for buying a house as well as for construction of new home
- Can be used for buying a plot and constructing a residential property on it
- Available to customers of other banks and NBFCs who want to transfer their existing home loan amount to IIFL Home Loan on account of lower interest rates and/or better terms of service.
* Note: All of the above home loan plans are made available to applicants solely at the discretion of IIFL Home Finance, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for IIFL Home Loan
Like every other financial company offering a loan facility, IIFL Home Loan would require you to submit a set of specified documents as part of your home loan application. These documents must be attached to the application form that you duly fill out with the assistance of your BASIC Home Loan representative. Listed below are some of the standard IIFL home loan documents for salaried and self-employed applicants:
| Proof of Income | Bank statement of salaried account for last 6 months Salary slip of employee of last 2 months Latest ITR or Form 16 (whichever is available) |
| Other Required Documents | Pending |
| Proof of Income | Profit & Loss Account and Balance Sheet with all annexures attached (all CA-attested and audited, if applicable) ITR with computation for the last 2 financial years Statement of the business entity’s current account for the last 6 months Statement of the applicant's savings account for the last 6 months |
| Other Required Documents | Pending |
| Identity & Address Proof | Driving License, Voter’s ID, Credit Card with Photo. Aadhar Card, Passport |
| Documents Related to Property | Driving License, Voter’s ID, Credit Card with Photo. Aadhar Card, Passport |
Find IIFL Home Loan Offices Near You
Applying for a home loan with IIFL is a simple process that can be completed online from the comfort of your home! Just follow the simple instructions below to apply for an IIFL home loan:
Apply Now on the BASIC Website
Proceed to the 'APPLY NOW' section on the BASIC Home Loan website.
Enter Your Details and Submit
Fill in the form by entering your name, contact number, and other required details, and submit the form.
Our Expert Will Reach Out to You
A BASIC Home Loan team representative will connect with you shortly to assist you through the entire home loan application process.
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