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INDIAN BANK HOME LOAN 

Indian Bank Home Loan Details 

Indian Bank established on 15 August 1907 and their headquarters in Chennai, India. The maximum tenure of indian bank home loan is 30 years. It is the most preferred bank by all kinds of people for any financial service regarding home loan.

People usually want to get the loan in case of any financial issues. Home loan is some amount of money that is taken from a bank to make a home or buying plots for making a home.. Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a home loan with ease..You all think that “how it is possible? To overcome this issue Indian Bank came with an exciting opportunity i.e. Indian Bank Home loan. The interest rate provided by Indian Bank for Home Loan is 7.55% to 8.40% per annum with zero prepayment charges.

Indian Bank Home Loan Purposes 

  • Purchase or construct a new house / flat

  • Purchase house site and construction house

  • Purchase an existing house/ flat

  • Extend an existing house / additional construction

  • Repair / renovate an existing house/ flat

Benefits of Indian Bank Home Loan 

1. Special concessions on interest for women borrowers

2. Attractive rate of interest from 7.55% to 8.40% per annum

3. Maximum repayment tenure upto 30 years 

4. Zero prepayment charges are apply

5. Low processing charges

6. Fast approval of loan 

7 . Loan amount upto Rs.10 crore

Fees and Charges of Indian Bank Home Loan 

To apply for a home loan you have to pay fees and charges applied by the Indian Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from Indusind Bank i.e processing fee, prepayment / foreclosure charges, etc

TYPE 

CHARGES 

Processing fee

0.25% of the loan amount 

Prepayment charges 

NIL 

Eligibility Criteria for Indian Bank Home Loan 

Before applying for a home loan from Indian bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the Indian Bank home loan application the salaried, businessmen, professionals , self employed people, pensioners are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

ELIGIBLE 

Salaried, businessmen, professional, self employed people and pensioners

AGE 

18 years to 70 years 

MINIMUM INCOME

Rs.10000 p.m.

MINIMUM EXPERIENCE 

3 years 

NATIONALITY 

Indian 

Documents Required for Indian Bank Home Loan 

Any applicant who is going to avail a home loan must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Fully filled signed application form 

2. Passport size photograph

3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id

4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id 

5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 mnths showing that the salary has been credited

6. For Self employed individuals / professionals = 2  years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.

Compare other bank home loan interest rates 

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

AXIS Bank Empower Home Loan

Start at 9.55% onwards 

AXIS Bank Super Saver Home Loan

8.15% to 8.30%

AXIS Bank TopUp Loan

8.90% to 9.15%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan

11.005 to 11.505

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

Other products of Indian Bank :

1. Indian Bank Business Loan

2. Indian Bank Car Loan

3. Indian Bank Home Loan 

4. Indian Bank Personal Loan

How to apply for Indian Bank Home Loans 

There are two ways to apply for home loans from Indian Bank :

1. Offline method : By visiting nearest bank branch

2. Online Method :

  • First of all first visit to official website of Indian Bank

  • In retail section go to the “loans”

  • Now click in home loan

  • After that go to “Home loan”

  • Now click on apply now and fill application form 

Indian Bank Customer Care

Contact number : 180042500000

Email id : customercomplaints@indianbank.co.in

How to calculate EMI of Indian Bank Home Loan 

The following formula is used to calculate EMI of Indian Bank Home Loan :

EMI = [PXRX(1+R)^N] / [(1+R)^N-1]

Where,

P stands for Loan Amount

R stands for Interest Rate

N stands for tenure in number of months 

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Indian Bank Home Loan Frequently Asked Questions :

1. What is the loan amount of Indian Bank Home Loan?

The minimum loan amount of Indian Bank Home Loan is Rs.1 lakh and maximum loan amount is Rs.10 lakh.

2. How much minimum and maximum age of the customer is required to take a home loan from Indian Bank?

The minimum age of the customer is 18 years and the maximum age of the customer is 70 years is required to take a home loan from Indian bank..

3. Is, there any pre-closure and part payment charges applied to take a home loan from Indian Bank?

There is no pre-closure and part payment charges are applied to take a home loan from Indian Bank.

4. What is the maximum tenure period provided by Indian Bank to take a home loan?

The maximum tenure period provided by Indian Bank is 30 years to take a home loan.

5. Who is eligible to take a home loan from Indian Bank?

The salaried, businessmen, professionals, self employed people and pensioners are eligible to take a home loan from Indian Bank.

6. How much interest rate is provided by Indian Bank to take a home loan?

The interest rate provided by Indian Bank to take a home loan starts from 7.55% to 8.40% per annum.

Last Updated on : 20/Aug/2020

Know More About

Indian Bank Home Loan

You're eligible for a Indian Bank Home Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Indian Bank Home Loan Interest Rates

Updated on 25 Nov 2017

Indian Bank Home Loan Details
Interest Rate (Monthly reducing balance) 7.55% - 8.4%
Processing Fees 0.25% of the loan amount
Loan Tenure 1 year to 30 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959