Indian Bank Home Loan Interest Rates 2018 – Eligibility EMI Calculator

Compare Indian Bank Home Loans ✔ Interest Rates ✔ Eligibility ✔ Documents ✔ loan Emi of Indian Bank Home Loan 2018. ✔ Calculate loan eligibility with emi calculator online at Deal4loans.

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 8.25% – 9.35%
Max. Loan Amount upto 10 crore
Processing Fees 0.230% on loan amount + GST
Prepayment Charges Nil
Min. Income Rs.10000/-p.m
Loan Repayment upto 30 years

Home Loan applications received for rupees ₹ 419,027 crores till 19 July 2018

GET INSTANT HOME LOAN QUOTES ONLINE & your CIBIL score absolutely FREE.

Loan Amount
Occupation

Annual Income

City

54,02,013 loan quotes taken till now.
  • 54 lakh customers serviced to get best Loan deals with deal4loans. Deal4loans views Published @ yourstory.com
  • As RBI cuts rate, should you go for fixed home loan Deal4loans views Published @ Economic Times online.

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.

Indian Bank Home Loan Interest Rates 2018

Floating Interest Rates-

Upto 75 Lacs
Above 75 Lacs
Loan Schemes 8.25% – 9.25% 8.35% – 9.35%

Indian Bank offers upto 90% of home loan amount for property of Rs.30 lakh & 85% for the property costing 30 lakhs & above.

Indian Bank home loan emi calculator

Indian Bank Home loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new Home. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the Home variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.16 lakh for 20 years repayment period at 8.35% rate of interest than your emi calculations are as follows:

  • Loan Amount = Rs. 16,00,000
  • Monthly Installment (EMI) = Rs. 13,734
  • Total Interest Amount = Rs. 16,96,075
  • Total Amount (Principal + Interest) = Rs. 32,96,075
Year Principal Interest Balance Amount
1 Rs. 32,430 Rs. 132,378 Rs. 1,567,570
2 Rs. 35,244 Rs. 129,564 Rs. 1,532,326
3 Rs. 38,302 Rs. 126,506 Rs. 1,494,024
4 Rs. 41,626 Rs. 123,182 Rs. 1,452,398
5 Rs. 45,238 Rs. 119,570 Rs. 1,407,160
6 Rs. 49,164 Rs. 115,644 Rs. 1,357,996
7 Rs. 53,430 Rs. 111,378 Rs. 1,304,566
8 Rs. 58,064 Rs. 106,744 Rs. 1,246,502
9 Rs. 63,104 Rs. 101,704 Rs. 1,183,398
10 Rs. 68,579 Rs. 96,229 Rs. 1,114,819
11 Rs. 74,531 Rs. 90,277 Rs. 1,040,288
12 Rs. 80,997 Rs. 83,811 Rs. 959,291
13 Rs. 88,026 Rs. 76,782 Rs. 871,265
14 Rs. 95,662 Rs. 69,146 Rs. 775,603
15 Rs. 103,965 Rs. 60,843 Rs. 671,638
16 Rs. 112,985 Rs. 51,823 Rs. 558,653
17 Rs. 122,789 Rs. 42,019 Rs. 435,864
18 Rs. 133,444 Rs. 31,364 Rs. 302,420
19 Rs. 145,024 Rs. 19,784 Rs. 157,396
20 Rs. 157,489 Rs. 7,201 Rs. 0

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

Other Loan Products of Indian Bank

  1. Indian Bank Personal Loan
  2. Indian Bank Car Loan
  3. Indian Bank Gold Loan
  4. Indian Bank Credit Card
  5. Indian Bank Education Loan
  6. Indian Bank Property Loan
  7. Indian Bank Two Wheeler Loan

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