Indian Bank Home Loan Details
Eligible home buyers can get up to 36 times their gross monthly income or 60 times the net monthly income. The income of the spouse can also be included while calculating the overall eligible amount if he/she has stable income. As per the bank's regulation, the take home amount should exceed 40% of the gross income of the borrower after deduction of Emi and various other deductions.
Indian Bank Home Loan Rate of Interest
Indian Bank offers competitive home loan rates depending on the range of loan terms. The bank offers floating as well as fixed rate loans on several types of loan programs. Find the prevailing home loan interest rates on various loan options.
| Sanctioned Limits upto Rs. 20 lakhs |
| Period of Loan |
Interest
Rate w.e.f. 01.07.2009
(for both existing & fresh accounts) |
| Up to 5 years |
9.00 % |
| > 5
years up to 10 years |
9.25 % |
| > 10
years up to 15 years |
9.50 % |
| > 15
years up to 20 years |
9.75 % |
| Sanctioned Limits above Rs. 20 lakhs & upto Rs. 30 lakhs |
| Period of Loan |
Interest
Rate w.e.f. 01.07.2009
(for both existing & fresh accounts) |
| Up to 5 years |
9.25 % |
| > 5 years up to 10 years |
9.50 % |
| > 10 years up to 15 years |
9.75 % |
| > 15 years up to 20 years |
10.00 % |
| Sanctioned Limits above Rs. 30 lakhs & upto Rs. 2 Crore |
| Period of Loan |
Interest
Rate w.e.f. 01.07.2009
(for both existing & fresh accounts) |
| Up to 5 years |
9.75 % |
| > 5 years up to 10 years |
10.00 % |
| > 10 years up to 15 years |
10.25 % |
| > 15 years up to 20 years |
10.50 % |
| Sanctioned Limits above Rs. 2 Crore |
| Period of Loan |
Interest
Rate w.e.f. 01.07.2009
(for both existing & fresh accounts) |
| Period upto 20 years |
13.50 % |
* Home Loan Fixed Rate (for residents only)
| Sanctioned Limits upto Rs. 20 lakhs |
| Period of Loan |
Interest
Rate w.e.f. 01.07.2009
(for fresh accounts only) |
| Up to 5 years |
10.50 % |
| > 5years up to 10 years |
11.00 % |
Indian Bank home loan application forms can be had from the nearest branches of the bank. One can also use the branch locator to find the best available loan term with the bank. For more information, visit the official website of the bank.
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