Indian Bank Home Loan

Turn to Indian Bank for a variety of home loans available at attractive interest rates and processing fee. Check eligibility and apply online now.

Highlights

  • Rate of interest
    6.5% - 8.0% p.a.
  • Tenure
    Upto 30 years
  • Processing fee
    Nil
  • Loan amount
    Upto Rs.15 lakh
  • Prepayment Charges
    Nil
  • Foreclosure Charges
    Nil

Are you eligible?

You should meet the following criteria to apply for this loan:
  • Resident type: Indians and Non-Resident Indians (NRIs)
  • Applicant's age: 18 - 70 years
  • Min. monthly income for primary applicant: Rs 25,000

Key features of Indian Bank Home Loan

  • Available for purchase or construction of new house, purchase of land and construction of house thereon, purchase of existing house, home extension, repairs & renovation, and Balance Transfer
  • Rates start from just 6.50% p.a.
  • No processing fee for eligible home loans under PMAY scheme
  • Festival bonanza: Zero Processing fee

Tentative list of documents required for Home Loan

Mandatory documents(To be submitted by all applicants)
  • Latest photographs
  • KYC document
  • Copy of PAN, Aadhar Card & Voter Card of both applicant and guarantor
  • Other documents to be submitted as per your profile
For salaried individuals
  • Salary slips for the last 6 months
  • Form-16 or ITR for last 3 years for applicant(s) and guarantor(s)
  • Last 12 months' bank statement showing salary credit
  • Proof of other income like rent, interest on investments (if any)
  • Appointment letter
  • Proof of employment for 3 years as per norms
  • Previous employment details with proof (in case current job is less than 3 years old)
For self-employed individuals
  • ITR for last 3 years
  • P&L and Balance Sheet for last 3 years
  • Firm's statement of account (if income from business)
  • Chartered Accountant certificate on investments (if net worth is more than Rs 1 crore)
  • For individuals in unorganized sectors: A self-declared income certificate / affidavit (in case the annual income is less than exemption limit permitted under IT Act)
For Farmers
  • For individuals in unorganized sectors: A self-declared income certificate / affidavit (in case the annual income is less than exemption limit permitted under IT Act)
For non-resident Indians (NRIs)
  • Copy of Passport & Valid Visa
  • Work permit and financial papers attested by Indian embassy / consulate and adjudicated in India
  • Copy of contract for the remaining period of service
  • Brief employment profile

Home Loan Calculator*

All you need to know about your home loan

  • EMI Calculator
  • Loan Eligibility Calculator
  • Balance Transfer
  • Prepayment
  • Rate Change
  • Monthly Loan Repayment
How much will I have to pay every month?
Loan Amount
Tenure
Rate of Interest
Your EMI Per Month will be
33,038

Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)

**This service is available in select cities only.

*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.