Indian Bank Home Loan Interest Rates 2022 – Eligibility, EMI Calculator

Compare Indian Bank Home Loans ✔ Interest Rates ✔ Eligibility ✔ Documents ✔ loan Emi of Indian Bank Home Loan 2022. ✔ 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.

Details about Indian Bank Home loan:

Interest Rates 8.40% – 8.50%
Max. Loan Amount upto 10 crore
Processing Fees 0.40% upto ₹100 lakhs subject to max. of ₹20000
Prepayment Charges Nil
Min. Income Rs.10000/-p.m
Loan Repayment upto 30 years

Home Loan applications received for rupees ₹ 419,027 crores till 29 November 2022

Apply for Home Loan & Check your CIBIL score absolutely FREE.

Loan Amount
Occupation

Annual Income

City

120,17,256 loan quotes taken till now.
Home loan Interest rates starts from 6.90% for women, 6.95% for Others.

Eligibility Indian Bank Home Loan-

compare-home-loan-interest-rates

✔ 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 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 Interest Rates

Product Name CIBIL Score ROI (Floating)
IB Home Loan Premium 800 and above 7.90%
From 750 up to 799 8.05%
Home Loan – Floating (including NRI) Above 750 8.20%
701-750 8.25%
Upto 700 8.40%
Plot Loan (including NRI) Above 750 9.20%
701-750 9.25%
Upto 700 9.40%
Home Improve,
Home Loan-CRE (including NRI)
Above 750 8.70%
701-750 8.75%
Upto 700 8.90%

Indian Bank home loan emi calculator

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 8.20% rate of interest than your emi calculations are as follows:

  • Loan Amount = Rs. 16,00,000
  • Monthly Installment (EMI) = Rs. 13,583
  • Total Interest Amount = Rs. 16,59,891
Year Principal Interest Balance Amount
1 Rs. 33,018 Rs. 129,978 Rs. 1,566,982
2 Rs. 35,831 Rs. 127,165 Rs. 1,531,151
3 Rs. 38,880 Rs. 124,116 Rs. 1,492,271
4 Rs. 42,191 Rs. 120,805 Rs. 1,450,080
5 Rs. 45,785 Rs. 117,211 Rs. 1,404,295
6 Rs. 49,683 Rs. 113,313 Rs. 1,354,612
7 Rs. 53,914 Rs. 109,082 Rs. 1,300,698
8 Rs. 58,507 Rs. 104,489 Rs. 1,242,191
9 Rs. 63,488 Rs. 99,508 Rs. 1,178,703
10 Rs. 68,893 Rs. 94,103 Rs. 1,109,810
11 Rs. 74,760 Rs. 88,236 Rs. 1,035,050
12 Rs. 81,128 Rs. 81,868 Rs. 953,922
13 Rs. 88,033 Rs. 74,963 Rs. 865,889
14 Rs. 95,529 Rs. 67,467 Rs. 770,360
15 Rs. 103,667 Rs. 59,329 Rs. 666,693
16 Rs. 112,493 Rs. 50,503 Rs. 554,200
17 Rs. 122,070 Rs. 40,926 Rs. 432,130
18 Rs. 132,466 Rs. 30,530 Rs. 299,664
19 Rs. 143,744 Rs. 19,252 Rs. 155,920
20 Rs. 156,012 Rs. 7,009 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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