IKF Home Finance

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You dream of a home we make it a reality

About Home Loans

To make the dream of homeownership a reality for everyone. We understand that many of you and your families have limited access to housing finance options, which is why we are here to bridge that gap. Our affordable housing loans are designed to cater to the needs of those who may not have access of financial assistance from conventional lenders. We offer flexible terms and competitive interest rates to ensure that owning a home is within reach for everyone. Whether you’re a first-time homebuyer or looking to upgrade to a better place, IKFHFL is here to support you every step of the way.

Purchase of Group House

IKFHFL is delighted to offer specialized housing loans for the purchase of Group House Flats. As cities expand and property costs rise, many individuals find it challenging to afford standalone properties within city limits. Recognizing this trend, there is a growing demand for purchasing group house flats. In the context of housing, ‘group housing’ refers to a concept where separate or interconnected individuals come together to construct building units or multiple floors comprising dwelling units, along with shared service facilities.

At IKFHFL, we understand the unique dynamics of group housing and are committed to providing tailored loan solutions to facilitate your investment in these thriving communities. Our housing loans for Group House Flats are designed to simplify the home buying process, making it easier for you to own a piece of the city’s expanding landscape.

Eligibility Loan amount Repayment Tenure Interest Rate (%)
  1. Salaried or self-employed with minimal proof of income or
  2. Self-employed with no minimal proof of income

Rs. 10 lakh to 1 cr

Equated Monthly Installments (EMI) comprising of principal and interest through Post Dated Cheques/ Electronic Clearance System.

3 to 20 years

Interest Rate (%): 11.75 to 14.75

Loan to Estimated cost of Construction: Up to 80%

Up to 75

Loan Amount

₹3Lac - ₹30 Lacs *

Loan Tenure

Upto 20 Yrs *

Rate of Interest

Starting from 12.75% *

Documentation Fee

Upto 2.50% *

Maximum Loan

Up to 80% of the cost *

We offer adaptable loan repayment terms, stretching up to 20 years or until the borrower's retirement age. We believe in tailoring loan repayments to your unique financial situation, making homeownership more accessible and manageable. With us, you can comfortably repay your loan while securing your dream home, all on your terms

We pride ourselves on offering loans with lightning-fast processing times, thanks to our cutting-edge digital technology. With us, you can access the funds you need quickly and conveniently, making your financial goals a reality in no time

IKFHFL is pleased to offer housing loans that qualify for income tax exemption under the relevant income tax sections, such as Section 24(b) for interest payments and Section 80C for principal repayments. We understand the importance of financial benefits for our customers, and our housing loans are designed to provide eligible borrowers with the advantage of income tax exemptions.

We are delighted to offer loans without the requirement for income tax returns. We understand that not everyone may have tax returns readily available, and our goal is to provide accessible financial solutions to a wider range of individuals. With IKFHFL, you can secure the loan you need, hassle-free

IKFHFL offers loans with complete transparency and no hidden charges. We believe in straightforward financial solutions, ensuring you have a clear understanding of your loan terms without any unexpected fees.

Our housing loans come with no pre-closure or part-payment charges. We believe in giving you the freedom to manage your loan without any extra costs. Whether you want to pay off your loan early or make partial payments to reduce the burden, you can do so without worrying about additional charges. With IKFHFL, your path to homeownership is both flexible and cost-effective.

 

Loan Eligibility

IKFHFL has adopted a unique and innovative approach to loan eligibility assessment. Recognizing that our primary focus is on the un-served and under-served segments, where many borrowers lack formal documentation, we understand that traditional document-based eligibility criteria can be challenging to meet.

However, at IKFHFL, we leverage the expertise of our underwriting professionals, combined with the valuable insights gained from years of experience, to assess loan eligibility differently. Instead of rigidly relying on documents, we take the time to understand each borrower’s unique circumstances and financial position. Our goal is to offer loans tailored to their specific requirements.

While we aim to keep documentation to a minimum, we have developed a set of customized questions designed to match each borrower’s unique profile. This approach enables us to serve a broader range of individuals and ensure that financial support is accessible to those who need it most. At IKFHFL, we believe in going beyond traditional methods to empower our customers and make homeownership dreams a reality, even in the absence of formal documentation.

SALARIED
SELF EMPLOYED
For salaried individuals, home loan eligibility criteria is as follows –

A minimum of two years of work experience is a must

KYC Documents

IDENTITY & AGE PROOF (Self attested copy of any one of the following)
Valid Passport
PAN Card
Voters ID Card
Identity Card (only government & PSU employees)
Aadhar Card (UID)
Valid Driving License
Birth Certificate
SSC certificate
ADDRESS PROOF (Self attested copy of any one of the following)
OVD (Officially Valid Documents)
Copy of Aadhaar/Virtual Aadhar ID Card
Voter ID Card
Driving License** which has not expired
Passport, the validity of which has not expired
Job Card issued by NREGA & duly signed by an officer of the state Government.
Letter issued by the National Population Register containing details of name and address.

Note: If submits a Deemed Officially Valid Document (DOVD) to IKFHFL, serving as limited current address proof, they must provide updated Officially Valid Documents (OVD) within 2 months from the disbursement date of the first tranche of IKF Home Finance Limited loan.

Income & Experience Documents

Income & Experience Documents
A minimum of 3 years of working experience is must
Latest 3 Months Salary slips / Salary Certificate
Latest Form 16 / Experience Letter
Appointment Letter & Previous relieving letters
6 Months Bank Statement

Terms & Conditions

MITC English

MITC Telugu

MITC Hindi

MITC Kannada

MITC Marathi

MITC Tamil

MITC Gujarati

For self employed  individuals, home loan eligibility criteria is as follows –

A minimum of three years of work experience is a must

KYC Documents

IDENTITY & AGE PROOF (Self attested copy of any one of the following)
Valid Passport
PAN Card
Voters ID Card
Identity Card (only government & PSU employees)
Aadhar Card (UID)
Valid Driving License
Birth Certificate
SSC certificate
ADDRESS PROOF (Self attested copy of any one of the following)
OVD (Officially Valid Documents)
Copy of Aadhaar/Virtual Aadhar ID Card
Voter ID Card
Driving License** which has not expired
Passport, the validity of which has not expired
Job Card issued by NREGA & duly signed by an officer of the state Government.
Letter issued by the National Population Register containing details of name and address.

Note: If submits a Deemed Officially Valid Document (DOVD) to IKFHFL, serving as limited current address proof, they must provide updated Officially Valid Documents (OVD) within 2 months from the disbursement date of the first tranche of IKF Home Finance Limited loan.

Income & Experience Documents

Income & Experience Documents
Minimum 5 years in similar / current business and place
Latest valid registration proof to be documented
Income tax Return (for last 2 years
GST Returns (12 Months) / Bill Book / Purchase Receipts
Any document for validating borrower’s business turnover
All Bank Statements evidencing income flow

Terms & Conditions

MITC English

MITC Telugu

MITC Hindi

MITC Kannada

MITC Marathi

MITC Tamil

MITC Gujarati

Application Process

Submit your application and documents online.

Our Credit Manager will visit to understand your needs.

We'll offer the loan amount based on your requirements, income, and property.

Download

Home Loans Application Form

Download the application form here. Or contact our branch office

Home Loans Application Form

Download the application form here. Or contact our branch office

Calculator

2024
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