IndusInd bank home loan is one of the best solutions for you to help yourself make it to the house of your dreams. The bank offers home loans at affordable interest rates with flexible repayment tenure. If you are willing to buy a new house or flat or are willing to adorn your home with a makeover then it is time that you check out what IndusInd bank home loan has got to offer you. Let us get started with this section where you will find everything you need to know about the IndusInd housing loan, from its features and perks to the application procedure.
|Loan Amount||80% to 90% of the property value|
|Repayment Tenure||Up to 30 years|
|Interest Charges||Starts at 8%|
|Processing Fees||Up to 2% of the loan amount|
Here are the notable features and benefits of IndusInd bank home loan:
1. Home Loan for Different Requirements : You can apply for IndusInd bank home loan if you want to:
2. Home Loan Amount : You can avail the loan amount ranging from 80% to 90% of the property value.
3. Repayment Tenure : The loan repayment tenure for IndusInd bank home loan ranges up to 30 years.
4. Interest Charges : The IndusInd bank home loan comes at affordable rates starting from 8%.
5. Balance Transfer : IndusInd home loan allows you to enjoy the balance transfer facility in which you can transfer your existing home loan to IndusInd bank.
Are you eligible for an IndusInd bank home loan? Eligibility criteria is one of the prominent factors which you should definitely check before applying for the loan. Your eligibility for IndusInd home loan depends on multiple factors such as your employment, income, age, credit score etc. Based on these factors, the bank determines whether you qualify to avail the home loan.
The loan applicants should meet the following eligibility criteria for IndusInd home loan:
In order to successfully get started with the home loan procedure, you have to make sure you have all the necessary documents that are required to be submitted with the application. Know that the bank communicates certain requirements for documentation to you before the loan application.
While you can contact the bank and ask the official if there is any specific requirement of documents based on your profile, here are some general documents required for the IndusInd bank home loan:
|Documents||Salaried Applicants||Self Employed Applicants|
|Identity Proof||Aadhar Card, Voter’s ID Card, Passport, Driving Licence||Aadhar Card, Voter’s ID Card, Passport, Driving Licence|
|Address Proof||PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills||PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills|
|Income Proof||Salary Slips, Bank Statements, Form 16||Balance sheet and profit and loss account, IT Returns, Business Proof|
|Other Documents||Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank||Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank|
Compare other bank home loan interest rates
|AXIS Bank Home Loan||7.75% to 9.40%|
|SBI Regular Home Loan||6.95% 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|
|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%|
When planning to apply for a home loan, it is important to consider the EMI options available by the lender. Knowing the total amount of Equated Monthly Installments which you will be supposed to pay every month as the repayment for a home loan is important as it allows you to plan your budget accordingly and decide the tenure that is most suitable to that.
How do you calculate the IndusInd home loan EMI? Well, IndusInd home loan EMI calculator is a tool to help you with that. This tool fetches you the amount you are going to pay as EMI. The tool calculates installments using the home loan amount you are availing, the rate of interest applicable on the loan and the repayment tenure, in years.
Here are the steps you need to follow in order to use the IndusInd home loan EMI calculator:
You will now be able to see the total amount of EMI you will pay.
There are two methods to get started with the IndusInd home loan application. You can either apply for this home loan offline or use the online platform.
Here we have mentioned how to apply for IndusInd home loan offline and online:
Apply for IndusInd home loan offline
You can visit the nearest branch of the bank in order to apply for the IndusInd home loan offline. Visiting the bank can be a good idea for you to apply for the home loan as you will have the assistance by the bank throughout the loan procedure and your queries will be resolved right away. When you visit the bank, ensure that you have all the necessary by your side.
Apply for IndusInd home loan online
You need not to go anywhere to apply for the IndusInd home loan if you don’t want to. For a smooth experience, you can apply for the home loan on IndusInd bank’s website. Here are the steps to apply for IndusInd bank home loan online: Go to the official web portal of IndusInd bank. Now, click on the “Products” dropdown menu. Click on the “Loans” menu and then hit the “Home Loan” option. After that, click the “Apply Now” button. On the home loan application page, you have to fill all the necessary fields. Once you have entered all the information, hit the “Apply Now” button. FAQs
You can try getting the home loan amount by negotiating with the lender. Apart from that, it is best to have a co-applicant for your loan which can make the lender consider increasing your loan amount. You can also opt for a top up home loan if nothing else works.
You can use the following payment channels to repay your IndusInd home loan:
The IndusInd bank home loan comes with the processing fees ranging from 0.50% to 2% of the loan amount.
Q.5 What is the maximum tenure period provided by Indusind Bank to take a home loan?
The maximum tenure period provided by Indusind Bank is 30 years to take a home loan.
The interest rate provided by Indusind Bank to take a home loan starts from 8.00% to 15.00% per annum.Last Updated on : 23/Mar/2021
Know More About
You're eligible for a Indusind 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
Updated on 25 Nov 2017
|Indusind Bank Home Loan Details|
|Interest Rate (Monthly reducing balance)||8% - 15%|
|Processing Fees||0.50% to 2% 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