IDFC Bank

IDFC Bank

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

Rate of Interest

  • Floating Rate of Interest : 11.00  % to 15.10 % p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 1 year to 15 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  Fee 1%  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 IDFC Bank

IDFC Bank Ltd. Is an Indian Banking company. It’s headquarters in Mumbai that forms part of IDFC.It is an integrated infrastructure finance company. IDFC was incorporated on 30 January 1997 with its registered office in Chennai.It was started operations on 9 June 1997.The bank started operations on 1st October 2015.On 1998 the company registered with the Reserve bank Of India as  non-banking financial company and in 1999 it formally became a public financial institution.

 

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

Minimum income required Rs.25,000 per month
EMIs of other loans lower your eligibility
Pay off your credit card bills
Choose longer tenure loan up to 15 years

Rate of Interest and Other Charges for Loan Against Property are following

Rate Of Interest

Sno.

Loan Type

Rate Of Interest

1

Loan Against Property(Floating)

11% to 15.10 %

Existing Loan take over or New Loan

Some points are here:

  • Lower EMI
  • Speedy loan approval
  • Longer tenure period
  • Multi-purpose loan facility
  • Higher loan amount
  • Flexible repayment facility
  • Loan against both residential and commercial property

Features of Loan

Features and benefits of IDFC Bank loan against Property:

  • Long repayment tenure up to 15 years
  • Attractive rate of interest
  • Minimal processing fee
  • Avail loan up to  5 crores

Documents required for IDFC Loan against Property

The following documents are required for HDFC Loan against property:

For Salaried Individuals:

  • Proof of Residence(any of the following documents will be accepted)
  1. Ration Card
  2. Telephone Bill
  3. Electricity Bill
  4. Voter’s ID Card
  • Proof Of Identity(any of the following documents will be accepted)
  1. Voter’s Card
  2. Driver’s License
  3. employer’s Card
  • Bank Statement / Passbook of last 6 months
  • Salary slip of last 6 months.
  • Form 16 for previous 2 years.
  • Legal documents of the concerned property.

For Self-employed individuals

  • Certified financial statement of last 3 years.
  • Proof of Residence (any of the following documents will be accepted)
  1. Ration Card
  2. Telephone Bill
  3. Electricity Bill
  4. Voters Card
  • Proof of Identity (any of the following documents will be accepted)
  1. Voter’s Card
  2. Driver License
  3. Employer’s Card
  • Latest Bank Statement or Passbook
  • Copies of all property documents which you want to use as collateral.