Indian Bank Home Loan

Buying a house is a major milestone in life, and financial instruments offer a home loan to make it easier to get your dream home. The Indian Bank Home Loan is an attractive loan, and features among the easily accessible options that you can choose. 

In fact, the Indian Bank Home Loan interest rate is among the most competitive in the market, making it a cost-effective option. Read on to learn more about the Indian Bank Housing Loan and how you can avail of it online without any hassle.

The following table consists of the Indian Bank Home Loan interest rate and other applicable charges:

Disclaimer: The interest rate and charges mentioned in the table above are indicative and subject to change at the lender’s discretion. 

If you are thinking of availing a home loan, it is necessary to assess all aspects before zeroing in on any lender. Before you apply for the Indian Bank House Loan, compare the rates offered by other lenders too.

The following table presents the interest rates offered by different partner lenders on Bajaj Markets. You can compare these with the Indian Bank Housing Loan interest rate in order to choose the best-suited lender. 

Disclaimer: The above-mentioned interest rates are subject to change at the lender’s discretion. 

Here is the list of documents you need to submit with the application form:

• ID and residential proof 

  1. Passport 

  2. Voters ID 

  3. Driving Licence 

  4. PAN Card (Only for ID proof)

  5. Aadhaar Card

• Income Proof 

  1. For Salaried- Bank statements and salary slips of the last six months

  2. For Self-employed - ITR and balance sheet of the past three years, bank account statements of last year, and Form 16 

• Two passport-size photographs

In order to apply for it, you need to fulfil the following Indian Bank home loan eligibility criteria:

• You must be an Indian citizen and at least 18 years of age 

• You must be an employee of Central or State government services for the last 3 months or an MNC/reputed company for the last two years

• You must be self-employed for the last three years 

• If you are a pensioner, you must have an adequate income to repay the loan

• The property mortgaged for a home loan must be insured

The following are the different types of home loan schemes that the Indian Bank offers:

• IB Home Loan: This is a regular home loan offered by Indian Bank that you can use to purchase a plot or home or renovate it. Its interest rate starts from 8.40% p.a., and the tenure goes up to 30 years.  

• IB Plot Loan: As its name suggests, you can avail of this loan option to purchase a house plot. The interest rate on IB Plot Loan starts from 9.40% p.a.

• IB Home Improve: IB Home Improve offered by the Indian Bank has been specifically designed to cover the cost of remodelling current houses. The IB Home Improve interest rate is 8.90% p.a. onwards. 

• IB Home Enrich: This loan is also for the purpose of home renovation and repair. You can get this loan at an interest rate starting from 9.40%

To apply online for the Indian Bank home loan, follow these simple steps. 

• Visit the official Indian Bank Home Loan webpage

• Click on “Apply For Loan”

• Choose “No” for the question “Existing Customer?”, enter your mobile number, and click “Generate OTP”

• Input the OTP you receive and fill the application form

If you have any queries regarding the Indian Bank home loan, you can get it sorted by contacting the Indian Bank customer support authorities. You can call on the National helpline number - 1800 425 00 000 to raise your concern. You can even use the ChatBot on the official website to get your queries resolved.

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.