Apply Now

INDUSIND BANK LOAN AGAINST PROPERTY

Indusind Bank Loan Against Property Details 

Indian Bank Limited is an Indian new generation bank in Pune, established in 1994. The Bank offers commercial, transactional and electronic banking products and services. Indusind Bank inaugurates its first solar powered ATM in Mumbai.

A Loan against Property is a type of secured loan availed against a residential or commercial property kept as collateral with the lender. In this loan, you get as much amount you want and can be paid back with easy monthly installments. From this loan, you can buy any property or can make your own home or residence.The main objective of IndusInd Bank loan against property is to provide finance to individuals who have various financial goals and requirements. Both residential and commercial properties are accepted by the bank as collateral. 

Benefits of Indusind Bank Loan Against Property 

1. Attractive interest rate starts at 9.50% upto 13.50% per annum

2. Funding against rentals from commercial property

3. Loan for purchase of commercial property

4. Easy and quick processing 

5. Doorstep service provided 

6. Faster approval within 3 days 

7. You can avail overdraft facility against property

8. Tenure period upto 15 years 

9. It provides loan amount upto Rs.20 crore

Fee and Charges of Indusind Bank Loan Against Property

To apply for a loan against property you have to pay fees and charges applied by the Indusind 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

Up to 2% of loan amount

Prepayment Charges - Part or full prepayment is not allowed before 12 months from the EMI starting date.

Part Pre-payment charges

  1. Individuals : As per the RBI guidelines.

  2. For others : 4% of the principal outstanding.

  1. Individuals : As per the RBI guidelines.

  2. For others : Will be allowed for an amount upto 25% of the principal outstanding every year at a charge of 0.50% inclusive of taxes 4% of the part payment amount.

  3. For Others : In a financial year maximum part prepayments allowed is 4 times and also the total amount should not increase 25% of the loan outstanding at the beginning of the year.

Late payment of EMI

2% per month on an overdue amount.

Duplicate Repayment schedule Charges

Rs. 500/-

Duplicate No Due Certificate /No Objection Certificate.

Rs. 200/-

Cheque/ ECS/SI Dishonour Charges

Rs. 500/-

Service Tax , other government tax

As applicable.

Stamp Duty Charge per s

Based on the local rules and regulations and the type of mortgage.

SI/ ECS/PDC Swap Charge

Rs. 500/-

Personal Credit Report Issuance Charge

Rs. 50/-

Document Copy Charges

Rs. 500/-

Conversion Charges

Upto 0.75% of the principal outstanding inclusive of taxes.

Collection charges

Rs. 100/- for local visit to customer premises per instance and Rs.250/- per instance for outstation visit to customer premises whether any instalment is paid or not.

Eligibility Criteria for Indusind Bank Loan Against Property

Before applying for a loan against property from Indusind Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the Indusind Bank loan against property application the salaried and self employed individuals / professionals 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.

  1. Salaried Individual

  • Any individual employed permanently in any Public sector Undertaking, Government undertaking, Multi National Company, Listed public limited company or well-known private limited company can apply

  • Minimum age at the time of loan application should be 21 years & maximum age at loan maturity should be lower than retirement age

  1. Self Employed Professional / Non Professionals

  • Doctors, Chartered Accountants, Cost Accountants, Architects, Engineers, Company Secretary, CFA's can apply

  • Any individual filing Income Tax returns can apply

  • Minimum age at the time of loan application should be 21 years & maximum age at loan maturity should not exceed of 70 years

Documents Required for Indusind Bank Loan Against Property

Any applicant who is going to avail for loan against property from Indusind Bank, must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Filled Application Form

2. PAN Card

3. Proof of Identity : Passport, Aadhaar Card, Driving License, Voter ID, Government Employee ID

4. Proof of Address : Aadhaar Card, Driving License, Voter ID, Government Employee ID, Electricity bill, Gas bill, Telephone bill, Property tax receipt

5. Date of Birth Proof : Passport, Driving License, PAN Card, Birth Certificate, Aadhaar Card with DOB, SSC Marksheet

6. Signature Proof : Passport, PAN Card, Bankers verification or Notarized affidavit with ID & Address Proof)

  1. Proof of Income for Salaried:

    1. 3 months’ pay slip or 6 months’ pay slip/2 yrs. bonus proof)

    2. 6 months bank statement showing salary credits

    3. 2 yrs. Form 16 or Employment Continuity Proof

  2. Proof of Income for Salaried NRIs:

    1. 3 month pay slip

    2. Appointment letter/contract letter

    3. Continuous Discharge Certificate for Shipping cases

    4. 6 month Domestic NRE/NRO a/c statement

    5. 6 month international salary a/c statement

    6. Overseas credit report

    7. Valid visa copy/OCI card

    8. Passport copy

    9. POA details

  3. Proof of Income for Self Employed:

    1. 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    2. For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    3. Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)

    4. 6 months bank statements of personal and business accounts

    5. If ITR is filed without digital sign – CPC and tax paid challan

    6. Business continuity proof (3 yrs for HL / 5 yrs for LAP)

  4. Other Important Documents & Checks:

    1. Aadhaar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

    2. PAN card is mandatory for all financial applicants

    3. Processing Fee and CERSEI cheques

    4. Self-attestation of borrowers on all documents submitted

 Various types of property loan from IndusInd Bank 

  • Loan against home

  • Loan against commercial property

  • Loan for commercial property purchase 

  • Funding against rentals from commercial property

  • Balance Transfer

  • Top up loans 

  • Existing loans can be further enhanced as well.

Compare other bank loan against property interest rate 

BANKS

INTEREST RATE 

AXIS Bank Loan Against Property

Starts at 11.25% 

AXIS Bank Lease Rental Discounting 

Starts at 11% 

AXIS Bank Overdraft Facility Against Property

Starts at 11%

AXIS Bank Reverse Mortgage Loan

Starts at 11%

SBI Bank Loan Against Property

Starts at 10.85%

YES Bank Loan Against Property 

Starts at 10.50%

IDBI Bank Loan Against Property

Starts at 11.25%

RBL Bank Loan Against Property 

10.65% to 16.25%

HSBC Bank Loan Against Property 

Starts at 8.60%

HSBC Bank Smart Loan Against Property 

Starts at 8.75%

Indusind Bank Loan Against Property 

9.50% to 13.50%

Other products of Indusind Bank 

1. Indusind Bank Car Loan

2. Indusind Bank Personal loan 

3. Indusind Bank Credit Card

4. Indusind Bank Home Loan

How to Apply for Indusind Bank Loan Against Property 

There are two ways to apply for loans against property from Indusind Bank :

1. Offline Method : By visiting nearest bank branch

2. Online Method :

  • Firstly visit lenders website from which you want to get a loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan

Indusind Bank Loan Against Property Customer Care 

Contact number : 18605005004

Email id : premium.care@indusind.com

How to calculate EMI of Indusind Bank Loan Against Property

The following mathematical formula is used to calculate EMI of Indusind Bank Loan Against Property is :

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

In this formula,

EMI - Equated Monthly Instalment

P - Principal amount (amount borrowed as loan)

R – Applicable rate of interest (interest rate should be on a monthly basis)

N - Loan tenure or the number of EMIs to be paid (tenure should be in 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

Indusind Bank Loan Against Property Frequently Asked Questions 

1. How much loan amount is provided by Indusind Bank loan against property?

The maximum loan amount is upto Rs.20 crore provided by Indusind Bank loan against property.

2. By which mathematical formula do you have to calculate EMI of Indusind Bank loan against property?

The following mathematical formula is used to calculate EMI of Indusind Bank Loan Against Property is :EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

In this formula,

EMI - Equated Monthly Instalment

P - Principal amount (amount borrowed as loan)

R – Applicable rate of interest (interest rate should be on a monthly basis)

N - Loan tenure or the number of EMIs to be paid (tenure should be in months

3. How can I apply for a loan against property from Indusind Bank?

You can apply offline by visiting the nearest bank branch or through online for loan against property from Indusind Bank.

4. What is a loan against property?

A Loan against Property is a type of secured loan availed against a residential or commercial property kept as collateral with the lender. In this loan, you get as much amount you want and can be paid back with easy monthly installments. From this loan, you can buy any property or can make your own home or residence.

5. Is there any processing fee provided in Indusind Bank loan against property?

Yes, there is up to 2% of loan amount processing fee is provided in Indusind Bank loan against property.

6. What charges are provided for late payment of EMI by Indusind Bank loan against property?

2% per month on an overdue amount charges are provided for late payment of EMI by Indusind Bank loan against property.

Last Updated on : 30/Aug/2020

Know More About

Indusind Bank Loan Against Property

You're eligible for a Indusind Bank Loan Against Property 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 Loans Against Properties 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

Indusind Bank Loan Against Property Interest Rates

Updated on 25 Nov 2017

Indusind Bank Loan Against Property Details
Interest Rate (Monthly reducing balance) 9.5% - 13.5%
Processing Fees Up to 2% of loan amount
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Loans Against Properties 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