IndusInd Bank Home Loan
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Home Loan Banks
IndusInd Bank Home Loan
Up to 1%
Up to ₹70L
Tenure(1 - 20 Years)
Features and Benefits of IndusInd Bank Home Loan
IndusInd Bank Limited is an Indian financial services bank that delivers transactional, commercial, and digital banking products and services. Headquartered in Mumbai, the bank was established in April 1994 and is now spread across 760 locations in India.
The bank mainly specialises in retail banking services and is working towards extending its network all across India. Among the various products offered, IndusInd Home Loan is one of the most popular ones as the demand for houses is constantly increasing.
IndusInd Bank provides home loans in alliance with HDFC Limited. The bank also offers affordable housing loans to cater to the home financing needs of low-income groups. Read further to know about how to apply for IndusInd Bank home loans.
The IndusInd Bank home loan is packed with significant features and benefits as follows:
Attractive Rate of Interest
You can obtain a home loan at the lowest interest rate of 7.05% if your credit score and history are good.
Home Loan Transfer with Ease
If you have an existing home loan, you can transfer it to IndusInd Bank without any hassle at your doorstep.
Turnaround Time of Three Days
The loan processing time is not long. As soon as you have submitted your home loan application along with the required documents, the bank starts processing your application. It takes a quick turnaround time of only three days.
Longer Tenure and Step-Up Repayments
Considering the fact that purchasing a home is a big investment, IndusInd Bank has made the loan repayment process easier. It offers longer tenure so that you can pay a lower EMI every month.
No Prepayment Charges
You can pay in full at any time of the loan tenure without paying any penalties. This facility is applicable only for loans obtained at a floating interest rate.
Inventory of Pre-Approved Projects for Funding
If you have an idea in mind and want to transform it into reality, IndusInd’s extensive inventory of pre-approved projects could be helpful.
Specialised Offerings for NRI Customers
Besides domestic customers, NRI customers can also enjoy the benefit of IndusInd home loans at attractive rates and enjoy customised solutions.
Pre-Approved Top-Up Loans
The bank also features pre-approved top-up loans that are mainly meant for house renovations. With such a loan, you can not only renovate but also restructure your home.
Plot Plus Construction Loan
If you want to buy a plot or want to construct a home, IndusInd Bank offers Plot Plus Construction Loan that lets you build your home the way you want it.
Premium Credit Card
IndusInd Bank offers a premium Credit Card that holds attractive rewards for its customers. You can use it to renovate your home by buying your required essentials.
Prompt Customer Service
If you feel any obstruction or need any support related to IndusInd Bank home loan, you can call their customer services. Also, you can write an email to them or talk to a chatbot. Soon, you will receive a call.
Eligibility Criteria for IndusInd Bank Home Loan
The eligibility criteria for obtaining a home loan differ for different entities. They are as follows:
For Salaried Individuals
The individual applying for a home loan must meet the following criteria:
- The individual could be either working with the government or a reputed company.
- The age of the borrower must be between 24 years to 60 years.
- Three years of continuous employment is a must.
For Self-Employed Individuals
Such borrowers must fulfil the following criteria:
- The individual can either be a Doctor, Chartered Accountant, Company Secretary, or Engineer.
- The age of the borrower must be between 24 years to 70 years.
- A business experience of three years is mandatory.
For Self-Employed Non-Professionals
If you are a non-professional but a self-employed entity, you must satisfy the following conditions:
- The individual must present ITR filings
- He/she must have a minimum continuous work experience of three years
- The age of the borrower must be between 24 years and 65 years.
IndusInd Bank Fees and charges
The following fees and charges will be applicable on IndusInd Bank home loans:
|Loan Processing Charges||1% of the loan amount or ₹ 10000+GST whichever is higher. IMD - INR 2500|
|Foreclosure Charges||NIL (Floating rate)|
|Part Pre-payment Charges||NIL (Floating rate)|
|Cheque Bounce Charges including SI, ECS and ACH||₹ 75 per instance|
|Duplicate No Due Certificate / No Objection Certificate (NOC)/Re-issuance FCL/LOD||NIL|
|No Due Certificate / No Objection Certificate (NOC)||NIL|
|Charges for late payment of EMI||2% per month on overdue amount|
|Cheque swapping charges||₹ 500 per swap per instance|
|Stamping Charges (Non-Refundable)||As per applicable law of the state|
|Duplicate repayment schedule charges||NIL|
|Document copy charges||₹ 500 for providing a copy of property documents|
|Repricing Charges||Upto 0.50% of the principal outstanding (subject to min. 5000)|
|Release of Property / Collateral in a Live loan||NIL|
|Swap of Property/Collateral||NIL|
|Rebooking of loans (due to change in Property/Collateral, change in borrowing structure) within 6 months||NIL|
|Collection Charges (Local as per municipal/city limits)||NIL|
|Loan Cancellation Charges||₹ 2000/- (additionally franking/stamping norms as per actuals if applicable)|
Note: IMD means Initial Money Deposit.
Documents Required for IndusInd Bank Home Loan
Unless you submit the documents, your application for a home loan will not be accepted or processed. Therefore, you must ensure that you have the following documents handy while applying for an IndusInd Bank home loan:
- Home loan application form along with a passport-sized photograph.
- Valid identity proof that may include PAN Card, Aadhaar Card, Driving Licence, Passport, etc.
- Address Proof that could be any of the following - Aadhaar Card, Voter ID Card, Passport, Driving License, etc.
- Bank statement of the last six months of the main savings account, current account, etc.
- Later ITR Copy/ Form 16/ Appointment Letter and latest 3 months Salary Certificate/Salary Slips (for individuals)
- Business and Individual Income Tax Returns and audited financials for the last 2 months (non-individuals).
How Does the EMI Calculation Work for IndusInd Bank Home loans?
A home loan EMI calculator helps you understand what your monthly payment may look like. IndusInd home loan EMI calculator is tailored considering your financial requirements like loan amount, tenure, and the rate of interest to determine your monthly EMI.
You have to enter these values and the calculator will return the following values:
- Principal amount
- Interest amount
- Total amount payment
Besides, you can also use the mathematical formula to calculate the EMI on the IndusInd Bank home loan, which is as follows:
EMI = (P × R × (1+r)^n)/((1+r)^n-1)
- P is the principal loan amount
- R is the rate of interest
- n is the loan tenure
IndusInd Bank Home Loan Customer Care Number
If you need any help pertaining to IndusInd Bank home loan, you can contact their customer representative at 022 68577777 / 022 44066666 / 022 42207777 / 1860 267 7777.
You can also send an email to firstname.lastname@example.org for verifying the status of your home loan or any other queries related to the loan.
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Indusind Bank's Calculators
Loan Home Page
Indusind Bank's Other Products
Indusind Bank's IFSC Codes
- Indusind Bank Andhra Pradesh
- Indusind Bank Assam
- Indusind Bank Bihar
- Indusind Bank Chandigarh
- Indusind Bank Chhattisgarh
- Indusind Bank Delhi
- Indusind Bank Gujarat
- Indusind Bank Haryana
- Indusind Bank Himachal Pradesh
- Indusind Bank Jammu and Kashmir
- Indusind Bank Jharkhand
- Indusind Bank Karnataka
- Indusind Bank Kerala
- Indusind Bank Madhya Pradesh
- Indusind Bank Maharashtra
- Indusind Bank Manipur
- Indusind Bank Mizoram
- Indusind Bank Nagaland
- Indusind Bank Odisha
- Indusind Bank Puducherry
- Indusind Bank Punjab
- Indusind Bank Rajasthan
- Indusind Bank Tamil Nadu
- Indusind Bank Telangana
- Indusind Bank Uttarakhand
- Indusind Bank Uttar Pradesh
- Indusind Bank West Bengal
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Mutual Fund Scheme
Mutual Fund Sector
Gold & Silver Rate
From refinancing to reducing your interest, we have the answers right here.
What are the benefits IndusInd Bank provides on Home loans?
It offers a plethora of benefits ranging from attractive interest rates, flexible tenures, a turnaround time of three days, prompt customer service, specialised offerings to NRI customers, and no prepayment penalty.
Does IndusInd Bank have a fixed rate of interest on a Home Loan?
No, it is not fixed, the interest rate on an IndusInd home loan ranges between 7.90% to 9.00%.
What are the documents required in IndusInd Bank for a Home Loan?
You will need to submit identity proof, address proof, contact details, along with the home loan application form, salary slips and account statements, and ITR filing statement (in case of non-professional individuals).
Does IndusInd Bank check CIBIL Score for Home Loan?
Yes, IndusInd Bank checks for CIBIL score for a home loan. In fact, every lender views the customer’s credit score before sanctioning their loans.
What is the maximum and minimum Home Loan amount I can get from IndusInd Bank?
The IndusInd bank offers a maximum loan amount of more than ₹ 50 lakhs, based on your requirements and credit profile. You can inquire about the minimum loan amount by calling IndusInd customer services.
What are the KYC documents I will have to submit to apply for a home loan from IndusInd Bank?
KYC (Know Your Customer) requires your identity and address proof.
Will I be charged a penalty for not paying my EMI on the IndusInd housing loan?
Yes, if you fail to pay EMIs on time, it will attract certain penalties, which will eventually increase your loan repayment amount.
What is the processing fee on a home loan?
The processing fee on a home loan is 1% of the loan amount or ₹ 10,000 + GST whichever is higher.
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