Swaraj Home Loan

Swaraj Home Loan

Swaraj Home Loan

Now get freedom from the Hassle of Income Documents!

Swaraj Home Loans is the name of our home loan variant which caters to a vast community of first time home buyers who may or may not be supported by formal income documentation. So, now you don’t have to worry about income documentation.

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Today, most of the Indians (employed as well as self employed) are facing tough time buying their own homes. It is unfortunate that in spite of good income and affordability, they don’t get home loan. Thousands of such prospective home buyers are waiting in queue in hope of home loan across every nook and corner of the country. But rejections often come as a hard blow to them even after they are having requisite income and skill.

To help such unreached masses, we, at “IIFL Home Loans” bring forth “Swaraj Home Loans” a scheme which gives freedom from strict income documentation. You can apply for home loan even at zero credit history and with low /unstructured income*

We believe in government’s nationwide noble mission, “housing for all by 2022” and want you to take a right decision.

Ask yourself 7 Questions about Swaraj Home Loans

Indian nationals, with basic identity documents like Aadhaar Card & PAN Card are eligible to apply. The entire documentation process is simple. People who can afford home loan but may not have complete income documents like bank statement & income proofs can apply for this scheme.

The Scheme aims to bring a transformational change in the society and hence it opens its arms for everyone, irrespective of the fact that whether he is literate or not.

Home loan can be availed for maximum upto 20 years under this scheme.

Yes. Minimum income requirement for household# is Rs 7,500* subject to eligibility assessment by the lender.

Normally, home loan upto Rs 20 lacs can be availed under this scheme.

Yes, you can apply with a co-applicant. Your spouse must be the co-applicant in all the cases. One female member participation is required in the property ownership and home loan structure. With this, you are eligible to avail subsidy upto Rs 2, 20,000 under Credit Linked Subsidy Scheme of Pradhan Mantri Awas Yojana.

Yes, you can leverage the benefits of this scheme. Whether you are a carpenter, mechanic, technician, electrician, plumber, driver, salesperson, security guard, paanwala, phoolwala, or any street food shop owner with a fixed set up, you can avail "Swaraj Home Loans" and turn your housing dream into reality with IIFL Home Loans.

#Definition –
Household covers husband, wife and unmarried children

Disclaimer -
* Loan eligibility/condition would be commensurate with the customer income as assessed by the housing finance company as per its credit norms

Swaraj Home Loan Features

  • Home loan upto Rs 20 lacs
  • Quick & hassle-free loan
  • Attractive interest rates@10.50% onwards
  • Affordable EMIs
  • Simple documentation
  • Tenure upto 20 years
  • For 20 lacs, maximum funding upto 85%

Eligibility Criteria

  • Indian Resident(salaried or self-employed)
  • At least one female co-applicant mandatory
  • Work Experience of Minimum 2 Years or case to case basis
  • Business Existence: Minimum 2 Years
  • Minimum 25 years of age
  • Minimum age is 21 years with at least one earning co-applicant of 25 years of age
  • Applicant has to be your immediate family member

Learn with IIFL

How IIFL is changing lives

Vankireddy Hemalath

I want to convey my sincere thanks to IIFL Home Loans Team for making the loan process hassle free. I couldn't resist appreciation for your effort in this regard. Thank you.

Vankireddy Hemalath
Raghavareddy Devarapalli

I am Mr. Raghavareddy Devarapalli. I really enjoyed taking service with IIFL Home Loans Team and feel truly honoured to be associated with IIFL Home Loans Team. I am looking forward to refer IIFL to my friends and family members.

Raghavareddy Devarapalli

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