About IndusInd Home Loan
Owning a beautiful home in a beautiful city is surely a dream of many. And, in order to help you in cherishing that dream IndusInd Bank is here. Yes, you read that right! This Mumbai based new generation bank being established in the year 1994 is best known for offering the commercial, transactional and electronic banking products as well as services. If we talk about its personal banking products, this bank offers a wide range of loans, deposits, cards, insurances and many to meet your needs.
When it comes to home loan, IndusInd Bank offers the same so that people living across the country can easily fulfill their dream home wish. The bank offers you this credit facility to meet all your needs. Yes, be it constructing a home, buying the new one, home improvement and modification/extension, for all your requirements, IndusInd Bank is here to help. The lender caters the needs of one and all with fast and easy home loan process along with simplified documentation and attractive interest rate to avail the same. In order to know more about IndusInd Bank Home Loan, just take a look at the page below.
IndusInd Bank Home Loan Interest Rates
| Particulars | Details |
|---|---|
| Home Loan Interest Rate | 8.40% - 9.75% |
| Loan Amount | INR 3 Lakh - INR 75 Lakh |
| Tenure | 30 Years |
| Processing Fee | 0.50% of the loan amount |
IndusInd Bank Home Loan Eligibility Criteria
In order to know about the eligibility criteria set by the bank so as to avail a home loan, just go through the table below.
| Eligibility Criteria | Salaried | Self-employed |
|---|---|---|
| Minimum age | 21 Years | 21 Years |
| Maximum age | 60 Years | 65 Years |
| Net Income | ₹1,80,000 | ₹1,80,000 |
| Current Experience | 2 years of current job stability | 3 years of current business stability |
| Loan Value Ratio | 90% of Agreement Value | 90% of Agreement Value |
IndusInd Bank Home Loan EMI Calculator
If you are interested in availing an affordable home loan from the bank, you also be interested in knowing the EMIs and interest outgo of your loan. This smart and time-saving device allows you to know the exact calculations of your monthly installments in the most hassle-free manner. This device just takes into the consideration few credential, i.e.
- Loan Amount
- Interest Rate
- Tenure
To have a better understanding of the same, look at the example below.
Abhishek Ranjit, Programming Head by profession is looking to avail a home loan of ₹30 Lakh so as to buy a beautiful home for his family in Mumbai. This lender is ready to offer him the same loan amount at an interest rate of 8.35% per annum for a tenure of 10 years. Now, what would be the EMIs, interest and total amount payable during the loan? To know the same, just go to the table below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 30,00,000 8.35% 1 ₹ 2,61,451 ₹ 1,37,412 ₹ 31,37,412 ₹ 30,00,000 8.35% 2 ₹ 1,36,161 ₹ 2,67,870 ₹ 32,67,870 ₹ 30,00,000 8.35% 3 ₹ 94,494 ₹ 4,01,792 ₹ 34,01,792 ₹ 30,00,000 8.35% 4 ₹ 73,733 ₹ 5,39,167 ₹ 35,39,167 ₹ 30,00,000 8.35% 5 ₹ 61,333 ₹ 6,79,976 ₹ 36,79,976 ₹ 30,00,000 8.35% 6 ₹ 53,114 ₹ 8,24,200 ₹ 38,24,200 ₹ 30,00,000 8.35% 7 ₹ 47,283 ₹ 9,71,812 ₹ 39,71,812 ₹ 30,00,000 8.35% 8 ₹ 42,946 ₹ 11,22,783 ₹ 41,22,783 ₹ 30,00,000 8.35% 9 ₹ 39,603 ₹ 12,77,077 ₹ 42,77,077 ₹ 30,00,000 8.35% 10 ₹ 36,955 ₹ 14,34,656 ₹ 44,34,656
Year Principal Interest Balance Amount 1 ₹ 2,00,524 ₹ 2,42,941 ₹ 27,99,475 2 ₹ 2,17,924 ₹ 2,25,541 ₹ 25,81,551 3 ₹ 2,36,833 ₹ 2,06,632 ₹ 23,44,717 4 ₹ 2,57,384 ₹ 1,86,082 ₹ 20,87,333 5 ₹ 2,79,717 ₹ 1,63,748 ₹ 18,07,615 6 ₹ 3,03,988 ₹ 1,39,477 ₹ 15,03,627 7 ₹ 3,30,366 ₹ 1,13,099 ₹ 11,73,260 8 ₹ 3,59,032 ₹ 84,433 ₹ 8,14,228 9 ₹ 3,90,185 ₹ 53,280 ₹ 4,24,042 10 ₹ 4,24,298 ₹ 19,423 ₹ 0
Documentation Required to Apply
| Salaried Individuals | Self-employed Professionals | Self-employed Businessmen |
|---|---|---|
| Application form with photographs | Application form with photographs | Application form with photographs |
| KYC Documents-Valid identity/Residence/Signature proof | KYC Documents-Valid identity/Residence/Signature proof | KYC Documents-Valid identity/Residence/Signature proof |
| Income Documents-Latest 3 months salary slip, Form 16/ITR for last 3 years | Income Documents-Education Qualifications Certificate and Proof of business existence, Last 3 years Income Tax returns (self and business) & Last 3 years Profit /Loss and Balance Sheet | Income Documents-Education Qualifications Certificate and Proof of business existence, Business profile/Last 3 years Income Tax returns (self and business)/Last 3 years Profit /Loss and Balance Sheet |
| Bank Statement-Last 6 months bank statements | Bank Statement-Last 6 months bank statements | Bank Statement-Last 6 months bank statements |
| Processing fee cheque | Processing fee cheque | Processing fee cheque |
Features & Benefits
- Competitive Interest Rates
- Easy EMI
- Doorstep Services
- Balance Transfer Facility
- Flexible Tenure
- Simplified Documentation
- Balance Transfer Facility
- Transparent Process
- Fastest Disbursal
- No Hidden Charges
IndusInd Bank Home Loan Customer Care
If you have any query related to home loans, you can contact the bank on its toll-free number 1860 500 5004 or dial 022 44066666. The customer care service is available 24X7 for the convenience of the customers.