✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

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.

Indian Bank Home Loan Interest Rate & Charges 2024

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

Interest Rate

8.45% p.a. onwards

Indian Bank Home Loan Processing Fee

  • 0.40% of the loan amount of up to ₹1 Crore or ₹20,000 (whichever is higher)

  • 0.20% of the loan amount of above ₹1 Crore or ₹50,000 (whichever is higher)

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

Compare Indian Bank Home Loan with Other Lenders

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. 

Home Loan Providers

Interest Rates

Bajaj Housing Finance Limited

8.50% p.a. onwards

Home First Finance Company

9.50% p.a. onwards

ICICI Bank

9.00% p.a. onwards

India Shelter

10.50% p.a. onwards

Kotak Mahindra Bank

9.00% p.a. onwards 

LIC Housing Finance

8.65% p.a. onwards

PNB Housing Finance Limited

8.50% p.a. onwards

Shriram Housing Finance

11.50% p.a. onwards

Shubham Housing Finance

10.90% p.a. onwards

Union Bank of India

8.50% p.a. onwards

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

Indian Bank Home Loan EMI Calculator

Loan Amount
Tenure
Months
Rate of Interest
Home Loan
Your Monthly Home Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download
Year EMI Principal Interest Balance

The Indian Bank Home Loan calculator is an online tool that helps you compute the monthly instalments against your home loan. With the prior knowledge of EMI that you need to pay, you can efficiently plan your monthly repayment and even foreclosure.

So, to safeguard yourself from troubles arising out of default payments and to make the most of your borrowing, use this Indian Bank Housing Loan EMI calculator. To use the calculator, all you need is the interest rate, loan amount, and repayment tenure.

Documents Required for Indian Bank Home Loan

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

Indian Bank Home Loan Eligibility

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

Features and Benefits of Indian Bank Home Loan

The following are some of the features and benefits of availing of an Indian Bank House Loan:

High Loan Amount

With an Indian Bank Home loan, you can avail of a high-value loan depending on your income. You can use this loan amount to cover your expenses of either buying a new house or renovating your existing READ MOREhome. READ LESS

Long Loan Period

Since home loans generally have a larger amount, it is better to have longer tenure to repay the loan. The Indian Bank allows you to enjoy a repayment tenure ranging up to 30 years.

Loan Moratorium

For ease of payment, you can also ask the Indian Bank authorities to provide you with a loan moratorium. You can get an EMI holiday ranging between 18-36 months from the date of the loan’s disbursal.&nREAD MOREbsp; READ LESS

Attractive Interest Rates

The Indian Bank Home Loan interest rate starts from as low as 8.45%, which is among the lowest interest rates offered on home loans. This makes your borrowing pocket-friendly, easing your repayment strREAD MOREess. READ LESS

Types of Home Loan Schemes Offered by Indian Bank

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 8.45% p.a., and the tenure goes up to 30 years.  

  • IB Home Loan Plus: It is a top-up loan facility for various purposes, including covering the expenses of purchasing a house or renovating it. The interest rate for IB Home Loan Plus is 9.35% onwards.

  • IB Home Advantage: This is an overdraft facility that you can use to purchase or build a house/flat or purchase a plot. The interest rate on this lending option starts from 8.85% p.a. 

  • 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 9.85% 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 9.35% 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%

How to Apply for Indian Bank Housing Loan Online

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

Indian Bank Customer Care

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.

Disclaimer

 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.

Read More

FAQs About the Indian Bank Home Loan

Do I need a CIBIL score to avail of a home loan from the Indian Bank?

Yes, you need to have a CIBIL score of more than 650 in order to avail of an Indian Bank Home Loan.

What is the maximum loan tenure I can opt for under Indian Bank House Loan?

You can get an Indian Bank House Loan for a repayment tenure of up to 30 years.

Can I transfer my house loan from another bank to Indian Bank?

No, the Indian Bank does not offer a home loan balance transfer facility.

Can I club my spouse’s income with mine to avail of a joint home loan from Indian Bank?

Yes, you can club your income with your spouse’s income to apply for an Indian Bank joint home loan.

How do I repay my home loan from Indian Bank?

You can repay your Indian Bank Home Loan either through EMIs, Progressive Monthly Instalments (PMIs), or negotiated repayments. 

What is the maximum home loan amount I can get from Indian Bank?

The maximum loan amount for an Indian Bank Home Loan depends on your income.

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
Credit Score
active_tab