Apply for Home Loan
Updated: 19-01-2022 09:51:21 AM
| IDFC First Bank Home Loan 2022 | |
| Interest Rate | 6.50% onwards |
| Loan-to-Value Ratio | Rs. 1 Lakh to Rs. 5 Crore |
| Loan Tenure | Up to 30 years |
| Processing Charges | Up to 3% of the loan amount |
Note: Rates as on 22nd November 2021.
Table of Contents
Compare IDFC First Home Loan Interest Rates vs Other Lenders
| Interest Rates (% p.a.) | |||
| Name of Lender | Up to 30 Lakh | Above 30 Lakh & up to 75 Lakh | Above 75 Lakh |
| State Bank of India | 6.70-7.65 | 6.70-7.75 | 6.70-7.85 |
| HDFC | 6.70-8.45 | 6.70-8.60 | 6.70-8.70 |
| Axis Bank | 6.75-11.50 | 6.75-11.50 | 6.75-11.50 |
| ICICI Bank | 6.70-7.55 | 6.70-7.55 | 6.70-7.55 |
| Kotak Mahindra Bank | 6.55 onwards | 6.55 onwards | 6.55 onwards |
| PNB Housing Finance | 6.99-12 | 6.99-12 | 7.15-12 |
| Punjab National Bank | 6.55-7.95 | 6.50-7.65 | 6.50-7.60 |
| Bank of Baroda | 6.50-8 | 6.50-8 | 6.50-8.25 |
| Union Bank of India | 6.40-7.60 | 6.40-7.65 | 6.40-7.65 |
| IDFC First Bank | 6.90 onwards | 6.90 onwards | 6.90 onwards |
| L&T Housing Finance | 6.75 – 7.75 | 6.75 – 7.75 | 6.75 – 7.75 |
| Bajaj Finserv | 6.65-14 | 6.65-14 | 6.65-14 |
| Godrej Housing Finance | 6.59 onwards | 6.59 onwards | 6.59 onwards |
| Tata Capital | 6.70 onwards | 6.70 onwards | 6.70 onwards |
| LIC Housing Finance | 6.75 – 7.85 | 6.70 – 8.05 | 6.70 – 8.05 |
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Types of IDFC First Home Loan
IDFC First Home Loan
- Features: Loans for all those who want to buy or build a new house or renovate an existing one.
- Interest Rate: 6.50% p.a. onwards
- Loan Amount: Up to Rs. 5 crore
- Tenure: Up to 30 years
IDFC First Suvidha Shakti
- Features: This is a micro-housing loan for women.
- Interest Rate: 6.70% onwards
- Loan Amount: Up to Rs. 5 crore
- Tenure: Up to 30 years
IDFC First Balance Transfer
- Features: Pay lower EMIs by transferring your existing home loan to IDFC First Bank. The lending institution offers a balance transfer facility at competitive rates. Customers can also avail of an additional top-up loan of up to Rs. 50 lakh on home loan balance transfer.
- Interest Rate (salaried): 6.70% – 15% p.a.
Interest Rate (self-employed): 8.25% – 15% p.a. - Loan Amount: Up to Rs. 50 lakh
- Tenure: Same as the outstanding home loan tenure
Note: Rates as on 22nd November 2021.
IDFC First Home Loan Eligibility Criteria
Mentioned below are the criteria that a customer must satisfy to avail of a home loan from IDFC First Bank.
| Age | Minimum: 23 years Maximum: 70 years |
| Eligible Profiles |
|
| Work Experience | Salaried: 3 years Business stability/Self-employed individuals: 3 years |
| Loan Amount | Up to Rs. 5 crore |
| Other Conditions | Good credit rating score in credit bureau Clear record in terms of past loans and statutory payments |
Documents Required to Apply for IDFC First Home Loan
The common list of documents required at the time of IDFC First home loan application is given as below:
- Identity Proofs – Driving License, PAN Card, Passport, or Voter ID
- Address Proofs – Telephone, Water, Gas & Electricity Bills or Rental agreement
- Income Proofs:
- Last 3 months’ salary slips
- Income Tax Returns
- Last 2 years’ Form 16 statement
- Bank Statements of last 6 months
- Property Documents:
- Property Tax Receipt
- Proof of business address
- Liability and personal assets’ statement
IDFC First Home Loan EMI Calculator
Home Loan EMI Calculator
₹
%
Year(s)
Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
Does the bank offer the option of a home loan balance transfer?
Yes, you have the option of transferring your existing home loan to another bank.
