Indian Bank Home Loan Interest Rates 2023 – Eligibility, EMI Calculator
Compare Indian Bank Home Loans ✔ Interest Rates ✔ Eligibility ✔ Documents ✔ loan Emi of Indian Bank Home Loan 2023. ✔ 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||8.60% – 9.65%|
|Max. Loan Amount||upto 10 crore|
|Processing Fees||0.40% upto ₹100 lakhs subject to max. of ₹20000|
|Loan Repayment||upto 30 years|
Home Loan applications received for rupees ₹ 419,027 crores till 31 March 2023
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 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 2023
|Product Name||Interest Rate Range|
|IB Home Loan to Elite Customers (Rs.15 lakhs & above)||8.6% to 8.85%|
|IB Home Loan to Elite Customers (Rs.15 lakhs & above) – Takeover||8.5% to 8.75%|
|IB Home Loan (CRE) to Elite Customers (Rs.15 lakhs & above)||9.1% to 9.35%|
|IB Home Loan to General Customers||8.95% to 9.15%|
|IB Home Loan CRE to General Customers||9.45% to 9.65%|
|Home Loan Premium|
|IB Home Loan Premium||8.75% to 8.95%|
|Home Loan to Corporate Entity|
|Home Loan to Corporate Entity||8.2% to 9.7%|
|IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – Term Loan||8.6% to 8.85%|
|IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – Overdraft||9.6% to 9.85%|
|IB Home Advantage to General Customers – Term Loan||8.95% to 9.15%|
|IB Home Advantage to General Customers – Overdraft||9.95% to 10.15%|
|Plot Loan to Elite Customers (Rs.15 lakhs & above)||9.6% to 9.85%|
|Plot Loan to General Customers||9.95% to 10.15%|
|IB Home Improve|
|IB Home Improve to Elite Customers (Rs.15 lakhs & above)||9.1% to 9.35%|
|IB Home Improve to General Customers||9.45% to 9.65%|
|IB Home Enrich|
|IB Home Enrich||9.15% to 9.7%|
|Home Loan Plus|
|IB Home Loan Plus to Elite Customers (Rs.15 lakhs & above)||9.1% to 9.6%|
|IB Home Loan Plus to General Customers||9.45% to 9.9%|
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.
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
|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: –
- Completed Application Form with passport size photograph.
- Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
- Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID
- Proof of business address in respect of businessmen / industrialists.
- Proof of Employment.
- Salary Certificate.
- Proof of other income like rent, interest on investment, if any.
- Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
- Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
- Agreement of Sale / Sale Deed.
- Approved Building Plan.
- Title Deed Documents for 30 years.
- 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
- Indian Bank Personal Loan
- Indian Bank Car Loan
- Indian Bank Gold Loan
- Indian Bank Credit Card
- Indian Bank Education Loan
- Indian Bank Property Loan
- Indian Bank Two Wheeler Loan