Indian Bank Home Loan Interest Rate, Eligibility 2024

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Like other banks and financial institutions, Indian Bank also provides home loans to customers at attractive interest rates. Home Loan comes under the category of Secured loan.

can apply for Indian Bank Home Loan to fulfill your dream of home. You can apply for Indian Bank Home Loan both online and offline.

In this article, we will know in detail what is Indian Bank Home Loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so you can complete this article till the end.

Indian Bank Home Loan

Anyone can take a home loan to build a house, buy a house or renovate a house. The lender looks at the credit history of the customer before providing the home loan, so to apply for this loan, your CIBIL Score must be very.

The loan amount given under it depends on many factors such as the applicant’s CIBIL score, age, income, place of residence, employment status, loan repayment capacity etc. If your income is high and your credit score is very good, then you can get home loan up to a higher loan amount at attractive interest rates of the bank.

Government Scheme of Government of India Prime Minister’s Housing Scheme (PMAY) Under this you can get subsidy on home loan. According to the convenience of the customers, Indian bank offers many types of home loan schemes. Indian Bank home loan interest rate starts from 8.40% p.a. The processing fee is up to 1% of the loan amount. You can take this loan with maximum loan tenure of 30 years.

If you want to take advantage of personal loan of Indian Bank then you can click on this link Indian Bank Personal loan

Key Features of Indian Bank Home Loan

• Loan Name: Indian Bank Home Loan 2024
• Lender Name: Indian Bank
• Interest Rate : Starting from 8.40% pa
• Loan tenure: Up to 30 years
• Processing Fee: Up to 1% of the loan amount
• Official Website: https://indianbank.in/

Indian Bank Home Loan Interest Rate 2024

Indian Bank home loan interest rate starts from 8.40% p.a. The bank offers many types of home loans which have different interest rates. Indian Bank Home Loan interest rate depends on the customer’s CIBIL score. The better your CIBIL score, the more attractive you can avail of home loans at interest rates.

Before taking a personal loan, we should Personal loan interest rate Similarly, before taking a home loan, we need to know about Home loan interest rate It is necessary to have information about

Indian Bank Home Loan Types

• IB Home Loan
• IB Home Loan Plus
• IB Home Improvement

Indian Bank Home Loan Benefits and Features

• Any person can take this home loan to fulfill his dream of home.
• Indian Bank Home Loan The interest rate starts from 8.40% p.a. depending on your CIBIL score.
• Women are given exemption in interest rate.
• If the age of the salaried person is less than 45 years, then he can take loan amount up to 72 times of his monthly gross salary and in other cases applicant can get loan amount up to 6 times of gross annual income.
• If the age of the salaried person is more than 45 years, then he can get the loan amount up to 60 times of his monthly gross salary and in other cases the applicant can get the loan amount up to 5 times the gross annual income.
• The maximum tenure of the loan is up to 30 years and the maximum tenure is 10 years in case of repairs and renewals.
• Indian Bank Housing Loan for the following purposes :
  • To buy/construct a new house/flat
  • Buying a house and building a house on it
  • To buy existing house/flat
  • To extend the existing house/additional construction
  • To repair/renovate existing house/flat
  • To take home loan from other banks/housing finance institutions approved by National Housing Bank for housing finance
• Margin:
  • Rs.30 lakh – 10%
  • 30 lakhs to 75 lakhs – 20%
  • Above Rs.75 Lakh – 25%
  • In case of repairs and renewals – 30%

Indian Bank Home Loan Eligibility

You can apply for this home loan only when you fulfill all the conditions of this loan. To apply for the loan, you must have the following eligibility:

• Applicant’s age should be between 18 to 70 years.
• The person applying should have a stable source of income.
• The following types of persons can apply:
  • salaried class
  • Business men
  • Professional
  • self employed person
  • pensioners
  • Indian Bank staff and staff’s wife
• Applicant should have minimum 3 years experience.
• The person applying should have all the documents.

Documents Need for Indian Bank Home Loan

The applicant should keep all the documents together before applying so that whenever the bank asks for your documents, you can show them all the documents immediately. To apply for an Indian Bank home loan, you must have the following documents:

• Filled application form with 3 passport size photographs.
• Statement of assets and liabilities in bank format from applicant co-applicant and guarantor.
• Proof of Identity – PAN Card / Aadhar Card / Voter ID Card / Passport / Driving License.
• Residence Proof – Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Aadhar Card / Voter ID Card.
• Proof of business address in respect of businessmen / industrialists.
• Proof of employment for salaried class.
• generally for the last 6 months.
• Bank account details such as 6 months / 12 months.
• Proof of other income like rent, interest on investment, if any.
• ITR and Balance Sheet for the last three financial years in case of professionals, businessmen and self-employed.
• , year of establishment, formation, securities charged in respect of loans taken from our bank/other branches/bank.FI/other sources.
• Form 16 / Income Tax / Wealth Tax (if applicable) Return of last 3 years.
• Agreement of sale / sale deed.
• Approved Building Plan |
• Title deed document for 13 years / 30 years as the case may be.
• Proof of title in revenue records.
• Property tax receipts wherever applicable.
• Rs.1.00 crore require two independent appraisal and legal investigation reports.

Indian Bank Home Loan Apply

If you fulfill all the conditions of the bank’s home loan, then you can apply for it online and offline. The procedure to apply is given below.

Indian Bank Home Loan Apply Online

• To apply online, first you have to visit the official website of the bank. indianbank.in
• On the home page of the website, in the option of Products > Loan Products Personal/Individual Click on this option will appear.

• On the next page, the list of all home loan schemes will open in front of you.
• Click on the home loan you wish to apply for.
• All the information related to that loan will come in front of you.
• To apply, you have to click on the option of Apply for loan.
• Then the application form will open in front of you.
• Enter the requested information in the form and click on submit.
• Then the bank will contact you and the loan process will be issued further.

How to apply offline ?

• First of all you have to go to your nearest Indian Bank branch.
• You have to contact the bank employee by going to the bank branch.
• Bank employee will provide you all the information related to home loan.
• Then your documents will be verified.
• Then you have to fill the application form and attach the documents and submit it in the same bank.
• If you fulfill all the conditions of the bank and your loan is approved then the loan amount will be transferred to your bank account.

Indian Bank Housing Loan EMI Calculator

Before applying for the loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can get an idea of how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan by visiting the official website of the bank with the help of Home Loan EMI Calculator. Home loan EMI depends on the loan amount, interest rate and loan tenure. If you apply for that loan without calculating the EMI of the loan, then you may face difficulties at the time of repayment of the loan.

Indian Bank Home Loan Customer Care Number

If you want to get any other information about this home loan, then you can get information by calling on Indian Bank Home Loan customer care number.

• Toll Free Number: 1800 425 00 000

Conclusion:

In this article we have given you Complete information has been provided about Indian Bank Home Loan. Anyone can join this home loan to fulfill their dream of home. If your CIBIL score is very good and your income is very high then you can take advantage of the attractive interest rates of the bank.

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FAQs on Indian Bank Home Loan