Indian Bank Home Loan

Last Updated : April 7, 2025, 4:15 p.m.

Do you have enough money to buy your dream home?
Are you planning to purchase an under-construction flat or a ready-to-move-in property? Have you selected your future home yet? If you’ve already chosen the property, you likely know how much you need to save to make it yours. Once you finalize your dream home, it’s important to understand its full value.

In today’s market, property prices—whether a flat, apartment, or villa—are rising steadily. This often makes taking a home loan essential, whether to cover the entire amount or just a portion, depending on your savings.

Indian Bank offers home loans for a variety of purposes — purchasing a new property, renovating or reconstructing an existing one, buying a plot, or even for a top-up loan. The applicable interest rates vary depending on the loan amount and your choice between fixed or floating rates. Your repayment amount will differ based on the type of interest and the duration of your loan.

Let’s take a closer look at what Indian Bank home loans have to offer.

Indian Bank Home Loan Interest Rates 2025

When it comes to a home loan, India Bank home loan interest rates start from 8.25% to 10.65% p.a., which is a floating rate of interest. The table below will show you more information about the Indian Bank Home loan.

Types of Indian Bank Home Loan

Here are the types and different schemes under the Indian Bank home Loan. Read their properties and details before applying for them -

Indian Bank Home Loan

Indian Bank offers home loans for purchasing or constructing a house/flat, buying a plot and building on it, purchasing under-construction or resale properties, and for repair, renovation, or extension of an existing home. Borrowers can also transfer existing home loans from other banks or HFCs at competitive interest rates.

• Interest Rate - 8.25% p.a. to 9.65% p.a.
• Loan Amount -
• Income up to Rs 15 lakhs/year: Take-home income must be at least 40% of gross annual income
• Income above Rs 1.55 Cr per year: Minimum take-home pay should be Rs 50,0000 per month

Loan Tenure:

• Regular Home Loan: Up to 30 years

• For Repair and Renovation: Up to 10 years

Indian Bank Plot Loan

Indian Bank Plot Loan is available to Residents/NRIs meeting Indian Bank Home Loan eligibility norms (age, income, NTHP). The plot must be for ownership (not lease) and located in a layout duly approved by the competent authority.

• Interest Rate - 9.25% p.a. to 10.65% p.a.

• Loan Amount -

• Salaried: Up to 36 times gross monthly income (as per latest salary slip)

• Professionals/Business: Up to 3 times average annual net income (last 2 years)

• Maximum Loan Amount: Rs 1,200 lakhs
  
• Repayment Period - Maximum 180 EMIs and no holiday period is allowed
  

Indian Bank NRI Home Loan

Indian Bank offers home loans to NRIs and PIOs who are gainfully employed and have at least 3 years of residual service. NRI professionals with regular monthly income are eligible. The applicant should be a maximum of 50 years old at the time of application and not more than 60 years at loan maturity. The loan can be availed for purchase or construction of a house/flat, or for repair, renovation, or alteration of an existing property.

• Loan Amount -
• Up to 60 times gross monthly income
• Subject to a minimum 40% Net Take Home Pay after proposed EMI and other deductions
• For Repairs & Renovation: Maximum loan amount Rs300 lakhs
• Interest Rate - 9.25% p.a. to 10.65% p.a.
• Loan Repayment Period - Up to 20 years (including holiday period)
  - Holiday Period: Maximum 18 months for house/flat construction

Indian Bank NRI Plot Loan

For NRIs to purchase house sites in layouts approved by the government authorities. Not applicable for rural areas.

• Loan Amount: Up to 36 times gross monthly income, subject to 40% Net Take Home Pay after all EMIs.
• Tenure: Up to 15 years
  

Indian Bank Home Loan to Corporate Entity

Indian Bank offers home loans to corporate entities (like Pvt/Public Ltd. Companies, LLPs, MNCs, SPVs) for purchasing or constructing residential units for directors, partners, promoters, or employees. Takeover of existing home loans is allowed as per norms. Plot-only purchases are not permitted unless construction begins within the set timeframe. Properties must not be bought from group entities or used commercially.

• Loan Amount - For properties situated/constructed at:–
• Semi Urban/Urban: Rs 50 Lakhs and Maximum Rs 200 Lakhs
• Metro: Rs 100 Lakhs and Maximum Rs 500 Lakhs
• Interest Rate - 8.70% to 10.20% p.a.
• Loan Tenure - 15 years maximum + moratorium period
  

Indian Bank Home Loan Flexi

Indian Bank Home Loan Flexi offers flexible repayment options, allowing borrowers to manage EMIs based on their financial comfort. It is ideal for salaried and self-employed individuals seeking home loans with features like step-up/step-down EMIs, overdraft facility, and easy balance transfers. The scheme ensures affordability with competitive interest rates and longer tenures.

• Rate of Interest - 0.40% p.a. over applicable IBHL rate, based on the borrower’s current CIBIL/CIC score as per guidelines.

Loan Amount -

• Minimum: Rs. 25.00 Lakhs

• Maximum: No upper limit
  

Indian Bank Home Improve

Indian Bank's IB Home Improve loan is designed to finance household needs like furniture, kitchen racks, cupboards, appliances (TV, fridge, AC, etc.), interior decoration, modular kitchen, piped gas, borewell setup with pumps, and rooftop solar lighting systems.

• Loan Tenure - Up to 36 times gross monthly income, subject to a maximum of Rs300 lakhs.

• Interest Rate - 0.40% p.a. above applicable IBHL rate, based on current CIBIL/CIC score as per guidelines.

• Repayment Period - No Holiday period
  
• Maximum 10 years
  

Indian Bank HOME ENRICH

A loan scheme for repairs, renovation, or upgradation of existing residential properties. It covers structural improvements, painting, flooring, plumbing, and other enhancement works to enrich your home.

• Repayment Period - Maximum 10 years
• Interest Rate - 9.25% p.a. to 9.80% p.a.

Loan Tenure -

• Minimum – Rs 1.00 lakh
• Maximum – Rs 10.00 lakhs
  

Indian Bank Home Loan Scheme for Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG) individuals: Urban Areas -

Indian Bank offers home loans to individuals from Economically Weaker Sections (EWS), Low Income Group (LIG), and Middle Income Group (MIG) with annual income up to Rs. 9 lakh. The loan can be availed for the purchase or construction of a new house/flat, purchase of an existing property, or extension, repair, or renovation of an existing home. Applicants must not own more than one house and should have a satisfactorily maintained bank account or UPI transaction history for at least 24 months. Creditworthiness will be assessed as per the bank’s guidelines.

Loan Amount - Home Loan:

• Metro: Up to Rs35 lakhs (Max project cost Rs45 lakhs)
• Urban: Up to Rs25 lakhs (Max project cost Rs30 lakhs)

Repair & Renovation:

• Metro: Up to Rs 10 lakhs
• Urban: Up to Rs6 lakhs

Margin & LTV Ratio -

Indian Bank Home Loan Eligibility Criteria

Given below are the various eligibility criteria for the Indian Bank Home Loan Schemes -

1. Indian Bank Home Loan:

• Available to resident Indians with a stable income and at least 3 years of total work experience.
• Salaried applicants must be employed for a minimum of 2 years with Central/State Government, PSUs, MNCs, reputed companies, or government-aided educational institutions.
• Self-employed individuals, professionals, and businesspersons must have a minimum of 3 years of business or professional experience.
• Pensioners with sufficient repayment capacity are also eligible.
• Age Limit: 18 to 70 years.

2. Indian Bank Home Improve Loan:

• Open to existing Indian Bank home loan borrowers (residents or NRIs).
• New applicants from salaried, professional, and business backgrounds are also eligible.

3. NRI Plot/Home Loan:

• NRIs with regular monthly income or a residual contract/service period of at least 3 years.
• Age at application: Up to 50 years.
• Age at loan maturity: Up to 60 years.

4. Indian Bank Home Advantage Loan:

• Available to resident Indians with a regular income and minimum 3 years of experience.
• Eligible applicants include salaried individuals, self-employed individuals, professionals, businesspersons, and pensioners.
• NRIs can also apply.
• Age Limit:
  • Residents: 18 to 70 years
    NRIs: 21 to 60 years

5. IB Home Enrich:

• Open to resident individuals and NRIs owning a residential property, supported by valid ownership documents (like Tax Paid Certificate, Sale Deed, Mutation Certificate, etc.).
• Applicants must have a steady income and at least 3 years of work or business experience.
• Existing home loan borrowers are also eligible.
• Age Criteria:
  • At application: 18 to 65 years
  • At maturity: Up to 70 years

Documents Required for Indian Bank Home Loan

While Indian Bank hasn’t specified a fixed list, applicants may need the following documents when applying:

• ID Proof (Aadhaar, PAN, Passport, etc.)
• Address Proof (Utility bill, Aadhaar, Passport, etc.)
• Income Proof (Salary slips, Form 16, etc.)
• ITR for the last 2-3 years
• Business Proof (for self-employed applicants)
• Property-related documents (Sale deed, agreement, approved plan, etc.)

How Can You Calculate EMI For Indian Bank Home Loan?

Suppose you are interested in availing a loan of INR 15,00,000 from Indian Bank for 25 years at the rate of 8.25% per annum and up to 10.65% per annum, then what would be your EMI? Are you interested in knowing that? If yes, you can easily calculate the same with the help of an EMI calculator . Yes, this calculator allows you to know your EMI by doing all the calculations for you. This tool takes into account your loan amount, interest rate, and tenure, and gives you the results in return. You just need to enter these fields into a calculator, it will give you the results instantly. Well, to make you understand, below is the calculation done by the calculator for your home loan:

Processing Fees/ Charges Of Indian Bank Home Loan

Here are the processing fees and another fee that apply to the home loan in addition to the home loan interest rates . Go through them to avoid any extra pay on the loan schemes -

Benefits & Features of the Indian Bank Home Loan

Here are the attractive benefits of the Indian Bank Home Loan -

• Purchase or Construction of New Flat/House: You can avail of a loan to buy or build a new residential property.
• Purchase of Plot: Loans are available for buying residential plots, especially when construction is planned within a specified time.
• Under-Construction Property: The bank also finances the purchase of properties that are currently under construction.
• Extension of Existing Home: Need more space? You can take a loan to add rooms or expand your current house/flat.
• Repair or Renovation: Loans are available for home improvement activities like repairs, interior work, or upgrades.
• Balance Transfer Facility: Already have a home loan at a higher rate? Transfer it to the Indian Bank for better interest rates under the takeover loan option.
• Reimbursement Option: If you’ve already spent money (within the last 6 months) on buying or constructing a house/flat, you can apply for a loan to reimburse those expenses.

This flexibility ensures you get financial support at every stage of your homeownership journey.

Indian Bank Home Loan Application Form

To avail of the home loan from India Bank, firstly, you need to fill out the application form provided by the bank. Filling out an application form is the first step to getting a home loan from any lender. The best thing is that you can either fill this form online or visit your nearest branch for the same. Through these two ways, you can easily fill in the form and apply for a home loan with Indian Bank.

Summary!

Indian Bank home loan solutions fulfill the diverse needs of individuals, NRIs, and corporate entities. Whether it’s buying or constructing a new house, purchasing a plot, renovating your existing home, or transferring a high-interest loan, Indian Bank provides flexible options with attractive home loan interest rates starting from 8.25% p.a. and going up to 10.65 %p.a and convenient repayment tenures. With customer-friendly eligibility norms, minimal processing charges, and special schemes for salaried, self-employed, and economically weaker sections, Indian Bank Home Loans are designed to make your dream of owning a home both accessible and affordable.