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.
Home Improvement Loan
IKFHFL recognizes that a home should evolve with the changing needs of a growing family. In the Indian context, it’s common practice to extend dwelling units to accommodate these evolving requirements. Additionally, as lifestyles evolve, homeowners often opt for house renovations or the addition of one or two rooms to their existing homes.
Many homeowners either add extra floors to meet their personal needs or to generate rental income. The Home Improvement Loan from IKFHFL is here to support these endeavors.
Our Home Improvement Loan caters to internal and external repairs and structural enhancements. This includes everything from tiling, flooring, internal and external painting, plumbing, and electrical work to waterproofing, roofing, grills, aluminum windows, terrace waterproofing, and the construction of underground/overhead water tanks. We also facilitate the paving of compound walls using stone, tiles, and other materials.
At IKFHFL, we understand that your home is not just a place to live but also an investment in your family’s future. Our Home Improvement Loan ensures that your dwelling remains a comfortable and functional space that evolves with your changing needs.
- Salaried or self-employed with minimal proof of income or
- 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%
Loan Amount
Loan Tenure
Rate of Interest
Documentation Fee
Maximum Loan
- Kindly note that the specifics mentioned may be subject to change based on the borrower's risk assessment, and loan approval is solely at the discretion of IKFHFL.
We offer adaptable loan repayment terms, stretching up to 15 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.
For salaried individuals, home loan eligibility criteria is as follows –
A minimum of two years of work experience is a must
IDENTITY & AGE PROOF (Self attested copy of any one of the following)
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Valid Passport
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PAN Card
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Voters ID Card
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Identity Card (only government & PSU employees)
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Aadhar Card (UID)
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Valid Driving License
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Birth Certificate
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SSC certificate
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ADDRESS PROOF (Self attested copy of any one of the following)
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OVD (Officially Valid Documents)
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Copy of Aadhaar/Virtual Aadhar ID Card
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Voter ID Card
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Driving License** which has not expired
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Passport, the validity of which has not expired
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Job Card issued by NREGA & duly signed by an officer of the state Government.
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Letter issued by the National Population Register containing details of name and address.
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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
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A minimum of 3 years of working experience is must
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Latest 3 Months Salary slips / Salary Certificate
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Latest Form 16 / Experience Letter
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Appointment Letter & Previous relieving letters
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6 Months Bank Statement
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For self employed individuals, home loan eligibility criteria is as follows –
A minimum of three years of work experience is a must
IDENTITY & AGE PROOF (Self attested copy of any one of the following)
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Valid Passport
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PAN Card
|
Voters ID Card
|
|
Identity Card (only government & PSU employees)
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Aadhar Card (UID)
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Valid Driving License
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Birth Certificate
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SSC certificate
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ADDRESS PROOF (Self attested copy of any one of the following)
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OVD (Officially Valid Documents)
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Copy of Aadhaar/Virtual Aadhar ID Card
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Voter ID Card
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Driving License** which has not expired
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Passport, the validity of which has not expired
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Job Card issued by NREGA & duly signed by an officer of the state Government.
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||
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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
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Minimum 5 years in similar / current business and place
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Latest valid registration proof to be documented
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Income tax Return (for last 2 years
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GST Returns (12 Months) / Bill Book / Purchase Receipts
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Any document for validating borrower’s business turnover
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All Bank Statements evidencing income flow
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