Indusind Bank

Indusind Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 8.60% p.a. to 9.70% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 30 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Indusind Bank

IndusInd Bank Limited is a Mumbai based Indian bank, it is new generation bank and it is established in 1994. This bank Induslnd bank offers commercial, transactional and electronic banking products and services.The bank has specialized in retail banking services and continuously upgrades. It is also working on expanding its network of branches all across the country and world.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum upto 30 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

IndusInd Bank Home Loan Interest Rates:

Sno.

Types

Up To 75,00,000

75,00,000 Above

1

All others

8.70%

8.75%

2

Women Customers

8.65%

8.70%

INDUSIND BANK HOME LOAN MCLR JUNE 2017:

Sno.

Loan Tenure

MCLR

1

Overnight

8.40%

2

1 Month

8.45%

3

3 Months

8.75%

4

6 Months

9.00%

5

1 Year

9.10%

Existing Loan take over or New Loan

These are some point for this:

  • IndusInd Bank offers a maximum loan amount of 80% of the property’s cost. The amount of the loan is also decided based on the customer’s repayment capacity.
  • Home loans from the bank are provided by HDFC Ltd. and provide borrowers a maximum loan term of 20 years or retirement age of the borrower, whichever comes earlier.
  • IndusInd Bank home loans are available for individual borrower’s as well joint borrowers. Co-applicants are the proposed owners of the property in question.
  • The RPLR (Retail Prime Lending Rate) of HDFC is used to calculate the loan under adjustable rate at IndusInd Bank. The interest rate on the home loan changes every three months from its initial disbursement as it depends on the RPLR.
  • EMI on the home loan provided by IndusInd Bank does not change with change in RPLR, however if the interest rate goes high, EM’s interest component also increases and principal component drops, leading to the loan term’s extension.

 

Features of Loan

Home Loan Benefits and features:

  • Wide range of Home loan products.
  • Doorstep service with fast & easy processing of loan application.
  • Transparent dealing with no hidden charges.
  • Simplified documentation.
  • Attractive Home Loan.
  • Balance transfer facility.
  • Funding upto 30 years of tenure.

Documents Required for Home Loan from IndusInd

Salaried Applicants:

For customers earning a regular salaried income, the following documents are needed to be submitted when applying for a home loan:

  • Identity proof such as PAN card, Passport copy, Voter’s ID or Driving License.
  • Applicant’s as well as co-applicant’s photograph.
  • Residence proof such as copy of telephone or electricity bill or Driving License, bank statement, Passport, etc.
  • Most recent ITR and Form – 16.
  • Applicant’s appointment letter or promotion letter with salary breakup.
  • Last six month’s bank statements.
  • Previous six month’s bank statements from other bank accounts, if any.
  • EMI details of any other loan.
  • Salary slips of the last three months.

     Self-employed Applicants:

  • Audit report of the company owned by applicant.
  • Last three years ITR filed by the company along with a profit and loss balance sheet.
  • Bank account statement from last six months.
  • Proprietor’s bank account statement of last six months.
  • Business profile of applicant.

 Partnership and Private Firms:

  • ITR filed by the company for the last three years and Profit and loss balance sheet in the name of the company or firm.
  • Form-16 of individual directors, in case of a private firm.
  • Three year’s ITR and partnership deed, in case of a partnership firm.
  • Bank account statement of the last six months of the partner’s or directors.
  • A business profile.

 NRI Applicants:

  • Applicant’s valid work permit.
  • Appointment contract of applicant given by the employer.
  • Copy of applicant’s Visa and Passport.
  • Credit report of the borrower from a valid credit agency of the country, where he or she is employed.
  • NRO or NRE bank account statements of borrower from the last six months.