IndusInd Bank Home Loan Highlights 2022 | |
| Interest Rate | 6.70% onwards |
| Loan-to-Value Ratio | Up to 90% of the property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | Up to 0.5% of loan amount + GST |
Table of Contents
IndusInd Bank Home Loan Interest Rates 2022
The current housing loan interest rate starts from 6.70%. The table below shows interest rates applicable on different home loan products for Women and Others.
| Home Loan Schemes | Interest Rate for Women | Interest Rate for Others |
| HDFC Regular Home Loan | 6.70% – 8.80% | 6.70% – 8.80% |
| HDFC Reach Loan | 9.25% – 14.25% | 9.25% – 14.25% |
| Plot Loan | 8.15% – 9.00% | 8.20% – 9.05% |
| Rural Housing Loan | 8.05% – 9.60% | 8.10% – 9.60% |
| Home Improvement Loan | 8.00% – 8.80% | 8.00% – 8.80% |
| Home Extension Loan | 8.00% – 8.80% | 8.00% – 8.80% |
| Top-Up Loan | 8.00% onwards | 8.00% onwards |
Compare Home Loan Interest Rates for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.40% - 9.15% | 8.40% - 9.05% | 8.40% - 9.05% |
| HDFC | 8.40% - 10.00% | 8.40% - 10.25% | 8.40% - 10.35% |
| LIC Housing Finance | 8.30% - 10.00% | 8.30% - 10.20% | 8.30% - 10.40% |
| ICICI Bank | 8.40% - 9.50% | 8.40% - 9.50% | 8.40% - 9.50% |
| Kotak Mahindra Bank | 8.30% onwards | 8.30% onwards | 8.30% onwards |
| PNB Housing Finance | 8.50% - 13.00% | 8.50% - 13.00% | 8.60% - 11.70% |
| Punjab National Bank | 8.25% - 9.00% | 8.20% - 8.90% | 8.20% - 8.90% |
| Bank of Baroda | 8.25% - 10.00% | 8.25% - 10.00% | 8.25% - 10.25% |
| Union Bank of India | 8.25% - 10.15% | 8.25% - 10.35% | 8.25% - 10.35% |
| IDFC First Bank | 8.45% onwards | 8.45% onwards | 8.45% onwards |
| L&T Housing Finance | 8.40%-8.60% | 8.40%-8.60% | 8.40%-8.60% |
| Bajaj Housing Finance | 8.20% onwards | 8.20% onwards | 8.20% onwards |
| Godrej Housing Finance | 8.39% - 10.99% | 8.39% - 10.99% | 8.39% - 10.99% |
| Tata Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Federal Bank | 8.37% - 9.60% | 8.37% - 9.65% | 8.37% - 9.70% |
Compare Home Loan Schemes Offered by Top Lenders Compare Now
IndusInd Bank Home Loan Fees & Charges
| Particulars* | Charges |
| Processing fees | Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher |
| Prepayment charges | No prepayment charges for floating rates |
| Check dishonour charges | Rs. 200 |
| List of documents | Up to Rs. 500 |
| Photocopy Of documents | Up to Rs. 500 |
| PDC Swap | Up to Rs. 200 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Re-appraisal of loan post 6 months from sanction | Up to Rs. 2,000 |
| Increase/Decrease in the loan term | Up to Rs. 500 |
* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
Types of IndusInd Bank Home Loan
1. Regular Home Loan Scheme
This is a regular home loan scheme that can be availed to buy, build or renovate a flat/house.
| Loan Amount | Up to 90% of the property value |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
2. HDFC Reach Loans
This is a customised loan product for salaried and self-employed individuals having a minimum income of Rs. 10,000 p.m. and Rs. 2 lakh p.a, respectively. The loan can be used to buy a new or existing home or a plot. It can also be used for renovation, extension or construction of both residential and non-residential premises.
| Loan Amount | Up to 80% of the property value |
| Interest Rate | 9.25% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | Up to 2% of the loan amount |
3. HDFC Plot Loans
This scheme is available to customers looking to buy a plot to construct a house. HDFC Plot Loan helps in buying a plot in resale or through a direct allotment.
| Loan Amount | Up to 80% of the property value |
| Interest Rate | Women: 8.15% onwards Others: 8.20% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
4. HDFC Rural Housing Loans
This scheme is specially designed to help agriculturists, planters, horticulturists, dairy farmers in buying an under construction or a new or an existing residential property in rural and urban areas. Salaried/self-employed professionals can also apply for this scheme.
| Loan Amount | Up to 90% of the property value |
| Interest Rate | Women: 8.05% onwards Others: 8.10% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | ● Salaried/Self employed: Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST ● Agriculturists/ Self-Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST |
5. HDFC Home Improvement Loans
This scheme is available to customers looking for funds to renovate or repair their existing house.
| Loan Amount | ● New customers: Up to 90% of the improvement estimate ● Existing customers: Up to 100% of the improvement estimate |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
6. HDFC Home Extension Loans
This scheme is suitable for people who wish to extend or add additional space to their homes. The scheme is available to both new and existing customers.
| Loan Amount | Up to 90% of the estimate |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 20 years |
| Processing Fee | Up to 0.50% of the loan amount |
7. HDFC Top Up Loans
This scheme is available to customers looking for additional funds for personal or business purposes. Existing customers as well as new customers availing HDFC Home Loan Balance Transfer facility can apply for the loan.
| Loan Amount | Up to 90% of the estimate |
| Interest Rate | ● Existing Customers: 8.70% onwards ● New Customers: 8.00% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
8. HDFC Home Loan Balance Transfer
This scheme is available to customers who wish to lower their loan repayments by availing of the Balance Transfer Facility. Additional Top Up Loan of up to Rs. 50 lakh is also available under this scheme.
| Loan Amount | Up to Rs. 50 lakh |
| Interest Rate | 8.00% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
9. HDFC Home Loan for NRI/PIO
This scheme is available to NRIs, PIOs, and OCIs looking for funds for the construction or purchase of a new house or remodeling or redoing the interiors of an existing home.
10. Pradhan Mantri Awas Yojana (PMAY)
It is a government scheme launched to provide housing to all urban and rural poor across India. Under the scheme, the government offers interest subsidies of up to Rs. 2.67 lakh on home loans availed for buying, constructing, extending, or renovating homes. HDFC Bank extends the affordable housing benefits of Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS) to all the customers eligible for this scheme.
IndusInd Bank Home Loan Eligibility Criteria
- Salaried individuals
- Self-Employed professionals
- Self-Employed non-professionals
- Age : 18-65 Years
IndusInd Bank Home Loan Documents Required
Salaried Individuals
- Duly filled in and signed the application form with photographs
- Identity, address and age proof
- Salary slip of last 3 months
- Bank statement of the past 6 months
- Form-16 and Income Tax Returns (ITR) details
- Title documents of the property
Self Employed Individuals
- Duly filled in and signed application form with photographs
- Identity, address and age proof
- ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)
- Bank statement of the past 12 months
- For partnership firms: Latest partnership deed
For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
For Limited Liability Partnership: LLP Agreement - Title document of the property along with business address proof
IndusInd Bank 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
Apply for Home Loan at Attractive Interest Rates Click Here
IndusInd Bank Home Loan Customer Care Details
Customers can reach out to IndusInd Bank on the below-mentioned contact number to get their home loan-related queries addressed.
24*7 IndusInd Bank Customer Care Phone Banking Numbers
Segment Within India: 18602677777
Segment Outside India: 022-44066666
FAQs
Q1. How can I increase my chances of getting a higher loan amount?
You can increase your chances of getting a higher loan amount by adding earning co-applicant(s) to your home loan.
Q2. Is insurance of the property mandatory?
Yes, the property should be duly and properly insured for fire and other appropriate hazards during the pendency of the loan. You will also have to produce evidence thereof to HDFC, each year and/or whenever called upon to do so. HDFC should be the beneficiary of the insurance policy
Q3. Who all are eligible to avail of a Balance transfer loan?
Any borrower who has an existing home loan account with another bank/HFC, having a regular payment track of 12 months, can avail of a balance transfer loan.
Q4. Are there any tax benefits available to home loan customers?
Yes. You are eligible for tax benefits on the principal and interest components of your loan under the Income Tax Act, 1961.
Q5. What is the security required to avail of a home loan?
Security of the loan would generally be security interest on the property being financed by the bank. Any other collateral/interim security may also be required depending on the risk profile of an applicant.