If you’re considering taking on a home loan, it’s important to work with an experienced financial institution. That’s why IDFC Bank home loan is a great choice. With over 7 years of experience in the home lending industry, IDFC Bank knows what it takes to get you the best possible rates and terms on a loan. Plus, they’ve got a wide range of products and services to meet all your needs. This article will give you an overview of what IDFC Bank Home Loan has to offer.
IDFC Bank Home Loan Highlights
| Interest Rate | Starting at 7.95% p.a. |
| Loan Amount | Up to Rs. 5 Crore |
| Loan Tenure | Up to 30 years |
| Processing Charges | Up to 3% of the loan amount |
IDFC Bank Home Loan
IDFC Bank is a leading financial institution in India with home loans. IDFC Bank home loan interest rates start from @ 7.95% p.a. The bank offers an amount up to Rs 5 crore for a longer period of up to 30 years The bank offers a range of home loan products to borrowers. Home loans are available to individuals, couples, and families. The bank has a wide range of eligibility criteria that borrowers need to meet in order to obtain a home loan.
IDFC Bank Home Loan Interest Rates
The interest rates for home loans offered by IDFC Bank are quite competitive. This is great news for borrowers as the current market conditions make it difficult for borrowers to find good deals on home loans. The interest rates are different for salaried individuals and self-employed individuals as you can see in the table below.
Interest Rates For Salaried
| Loan Type | Interest Rate |
| Home Loan | 7.95% p.a. onwards |
| Home Loan Balance Transfer | 7.95% p.a. onwards |
| Top up Loan | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount |
Interest Rates For Self-Employed
| Loan Type | Interest Rate |
| Home Loan | 8.05% p.a. onwards |
| Home Loan Balance Transfer | 8.05% p.a. onwards |
| Top up Loan | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount |
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IDFC Bank Home Loan EMI Calculator
The IDFC Bank home loan EMI calculator is a great way to check the estimated monthly installment cost of a home loan with IDFC Bank. we’ll be explaining how to use the IDFC Bank home loan EMI calculator to figure out your approximate monthly EMIs. So whether you’re looking to borrow Rs 50 lakhs or Rs 5 crore, this calculator will help you figure out your approximate EMIs. Just enter your loan amount, interest rate and tenure in the corresponding fields and hit calculate. You’ll then be able to see your monthly EMIs, as well as the total payable over the loan term. Let’s take a look!
Types of IDFC Bank Home Loan
There are several types of IDFC Bank home loans available, each with its own benefits and drawbacks. If you’re looking to purchase a home, it’s important to understand the different types of IDFC Bank home loans so that you can choose the one that’s best for you. Here’s a brief overview of the different types of IDFC Bank home loans available:
- IDFC Housing Loan: Loans for All! Get the financing you need to buy or build a new house or renovate an existing one.
- Loan Amount: Up to Rs. 5 crore
- Tenure: Up to 30 years
- IDFC Suvidha Shakti: Micro-housing loan scheme for women to meet various home improvement requirements. The loans help with sanitation, water connection and renovation.
- Loan Amount: Rs 10,000-Rs 1 lakh
- Tenure: Up to 3 years
- IDFC Home Loan Balance Transfer: IDFC Bank offers lower interest rates on existing home loans.
- Loan Amount: Up to Rs. 2 crore
- Tenure: Up to 30 years
IDFC Bank Home Loan Features
If you are looking for a home loan with good features, then the IDFC B home loan may be a good option for you. This home loan is available with a number of attractive features that could make it an ideal choice for you. Here are some of the top features of this home loan:
- Low interest rate: The IDFC bank home loan offers a low interest rate of 7.95% as its base interest rate. This is lower than most other home loans that are currently available in the market. This could make it an ideal choice for people who are looking for a low-cost option when purchasing a home.
- Fast processing times: The processing times for IDFC bank home loans are fast, so you can get your loan approved quickly.
- Flexible repayment terms: Home loan borrowers can choose from a number of flexible repayment terms, ranging from 36 months to 30 years. This gives borrowers more options to suit their needs and budget.
- Easy online application process: The online application process for IDFC Bank home loans is very easy and simple. This makes it convenient and hassle-free for borrowers to apply for a loan.
IDFC Bank Home Loan Eligibility Criteria
If you are looking to apply for a home loan from IDFC Bank, be sure to meet the eligibility criteria listed below.
| Criteria | Salaried Individuals | Self-Employed |
|---|---|---|
| Nationality | Indians/NRI | Indians |
| Age | 21-60 years | 23-70 years |
| Income | Minimum ₹1 lakh p.a. | Minimum ₹1.5 lakh p.a. |
| Work Experience | At least 3 years of experience | Minimum 4 years of business continuity |
IDFC Bank Home Loan Documents Required
If you are looking to get a home loan from IDFC Bank, you will need to provide certain documentation. Here is a list of the documents you will need to provide:
- Identity Proofs: Adhar card, PAN, Driving License, Passport.
- Address Proofs: Utility bills or Rental agreement.
- Income Proofs: latest salary slips, last 6 months bank statements, ITR, Form 16.
- Property Documents: Proof of business address, Property Tax Receipt, Liability and personal assets’ statement.
IDFC Bank Home Loan Apply Online
If you are looking for an easier way to apply for a home loan, look no further than IDFC Bank. This bank offers online application services that are easy to use and navigate. Here are the steps you need to follow to apply for a home loan with IDFC Bank:
- First, open the online application form on the bank website. You can find this form by clicking on the “Apply Now” button on the home page or by visiting idfcbank.com. You will need to provide your full name, date of birth, email address, and phone number. You will also be asked to submit a copy of your Identification Card (IC) or Passport.
- Next, you will need to provide your banking information. This includes your full name, account number, and current account balance. You will also be asked to list all other accounts that you have with the bank. Finally, you will need to provide your residential address and contact details.
- After you have completed all of the required information, it is time to upload your documents. You can do this by uploading the files that you uploaded when you initially applied for your bank account.
- Once you have submitted the form, you will receive a notification email confirming that your application has been received. You will then need to wait for a decision on your application, which usually takes around 1 weeks.
Read Also – Central Bank Of India Home Loan Review
FAQs
Q. What is the interest rate on IDFC Bank home loans?
Ans. The interest rates for our home loans vary depending on the loan tenure and credit score of the applicant. However, the average interest rate for our home loans is around 7.95% p.a.
Q. How much money can I borrow?
Ans. You can take an amount from Rs 1 lakh to Rs 5 crore from the bank.
Q. What is the repayment period for IDFC Bank home loans?
Ans. Repayment period for our home loans ranges from 3 to 30 years depending on the loan tenure and credit score of the applicant.
