Compare Indian Bank Home Loans ✔ Interest Rates ✔ Eligibility ✔ Documents ✔ loan Emi of Indian Bank Home Loan 2016. ✔ Calculate loan eligibility with calculator.
Salient Features – Indian bank offers home loan for purchase or to construct a house / flat / renovate / repair or alter an existing house / flat. For Eligibility or take loan you must have 40% Take Home Pay on gross income after the proposed EMI.
Important Details about Indian Bank Home loan:
|Interest Rates||9.55% – 9.75%|
|Max. Loan Amount||upto 10 crore|
|Processing Fees||0.229% on loan amount with a max. of Rs.20381/-|
|Min. Income||Rs.10000/- p.m|
|Loan Repayment||upto 30 years|
Eligibility Indian Bank Home Loan-
✔ Age must be in 18 to 65
✔ Minimum 3 year job experience for salaried borrowers
✔ Businessmen, Professionals and Self-employed with minimum experience of 3 years.
✔ Pensioners with eligible repayment ability are eligible.
How much loan amount you can get from Indian bank: –
- Borrowers can get upto 36 times of gross monthly income or 60 times of net monthly income whichever is higher.
- Borrowers can add Spouse Income to get more loan eligibility.
Home Loan Interest Rates of Indian Bank Home Loan 2016
Floating Interest Rates-
|Upto 75 Lacs
||Above 75 Lacs|
Indian Bank offers upto 90% of loan amount for property of Rs.30 lakh & 85% for the property costing 30 lakhs & above.
Processing fees of Indian bank home loan: 0.225% of loan amount with a maximum of Rs.20,000/-
Indian Bank home loan emi calculator
Use this simple tool for calculate exact loan emi per month which is paid by you for the loan amount which you can take by bank for home loan.
Documents to be submitted for processing the application: –
1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
10. Agreement of Sale / Sale Deed.
11. Approved Building Plan.
12. Title Deed Documents for 30 years.
13. Proof of title in the Revenue Records.(Legal Opinion from Advocate & Valuation of property from Engineer will be arranged by Bank at applicant’s cost)
Insurance: Property (offered as security) to be insured at borrower`s cost with Bank clause against fire, flood, earthquake, riot and other risks, which are normally covered by insurance companies