IDFC First Bank Home loan

• Attractive interest rates
• Longer loan tenure extending up to 30 years
• Home loan availability on the basis of Assessed Income Programme
• Home loan availability on the basis of No income and high equity programme
• Document Custodial Facility
• Availability of Balance Transfer Facility
• Reliable customer support from start to end
• Availability of Debt Consolidator Program
• Custom-built plans for self-employed individuals

IDFC First Bank Home Loan rate of interest is directly linked with the repo rate set by the RBI. The total rate of interest applicable on IDFC First Bank Home Loan is the combination of this external benchmark and fixed spread decided by the bank, i.e. 4.00% + 3.00%= 7.00%.

Important Aspects

• Additional Premium will be added over and above the (a) External Benchmark (b) Spread over External Benchmark up to 400 bps, depending on the customer’s risk profile, product strategy, market competition,
• Premium will be fixed at the time of taking the loan and will not be changed unless there is a change in the customer’s risk profile
• The spread will remain the same for a minimum period of 3 years as decided at the start of the loan contract
• Any change in the Repo Rate will be passed on to the customers on the next reset date

Mentioned below is the criteria that a customer must satisfy to avail a home loan from IDFC First Bank.

1. Identity Proofs – Driving License, PAN Card, Passport, Voter ID (Any One)
2. Address Proofs – Telephone, Water, Gas & Electricity Bills, Rental agreement
3. Income Proofs:
   • Last 3 months’ salary slips
   • Income Tax Returns
   • Last 2 years’ Form 16 statement
   • Bank Statements of last 6 months
4. Property Documents:
   • Property Tax Receipt
   • Proof of business address
   • Liability and personal assets’ statement

Documents required for Guarantor (if applicable)

• Proof of residence
• Proof of identity
• Proof of business address
• 2 passport size photographs
• Liability and personal assets’ statement

To avail any of these home loan schemes, you can simply visit paisabazaar.com and choose from these available options by just filling up application form. You can also check the EMIs (Equated Monthly Instalments) from online tool of Home Loan EMI calculator offered by paisabazaar.com. To get home loan at lower or competitive interest rates, consumer should have a credit/CIBIL score of 750 or above. By maintaining this score you can save on monthly EMIs and get flexible payment tenor. To keep a regular check on your credit score avail credit report from paisabazaar.com and get free monthly updates on your registered mobile number.

Q1. How much of the processing fee is charged by IDFC Home Loans?

Ans: As per the applicable rates specified in the Terms & Conditions section.

Q2. Is there any prepayment penalty attached with the IDFC Bank home loan?

Ans: Nil, there are no pre-payment charges.

Q3. What is the maximum loan repayment period offered by IDFC Bank?

Ans: Upto 30 years for salaried and upto 20 years for self-employed.

Q4. How Can I apply for IDFC home loan?

Ans: You can visit paisabazaar.com and apply for the home loan or you can do it online on bank’s website or by visiting the nearest bank branch.

Q5. Does the bank offer the option of home loan balance transfer?

Yes, you have the option of transferring your existing home loan to another bank.

Q6. What is the rate of interest offered by IDFC bank for home loan?

The interest rate offered by IDFC First bank home loan starts from 7.00% onwards per annum.