IDFC Bank

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

Rate of Interest

  • Floating rate of Interest : 8.55% p.a. to 10.45% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 20 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 Fees 0.00% to 1.00% 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 stands for Infrastructure Development Finance Company. It is an Indian Banking Company. It’s headquarters in Mumbai that forms part of IDFC. IDFC Bank has the perfect Home Loan with special features, unmatched service levels and flexible repayment options for borrowers to purchase plot/house/flat etc. The bank started operations on 1st October 2015

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

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum upto 20 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

IDFC Bank Home Loan Interest Rate

For Salaried (Floating):

Sno.

Loan Amount

MCLR Rate+ Markup

ROI

1

Amount up to 30 lacs

MCLR-6M +0.20%

8.55% P.a.

2

Amount above 30 lacs

MCLR-6M +0.25%

8.60% p.a.

3

Top Up

MCLR-6M +0.20%

9.95% p.a.

Existing Loan take over or New Loan

Here are Some points for existing loan take over or New Loan:

  • Low and affordable rates of interest
  • Customers can pay out their loan as per their convenience with no prepayment fees or charges
  • Top up facility is available under this scheme, wherein customers can top up their loan to more than 30% of their existing loan
  • Transfer of outstanding balance is quick, simple and hassle-free
  • To avail of this scheme customers are required to have a good loan repayment record with no missed payments for the previous 18 months on their existing loan

Features of Loan

 Features of Home loan:

  • Loan amount up to Rs.10.00 crores
  • Loans up to 85% of the property value
  • Repay only Interest during the under construction period
  • Increase loan eligibility by adding income of your family members
  • Insure yourself, as simply as the loan. Get mortgage credit shield at special rates
  • Competitive Rates: Our rates are super competitive! Try us!

IDFC Bank Documents Required

For Salaried Individuals

  • Application form with self-attested photograph.
  • Age proof(PAN card / Passport / Mark sheet with date of birth / Birth certificate)
  • Proof of residence (Passport / Driving Licence / Aadhar card / Voter’s ID card)
  • Proof of identity(Voter’s ID card / Passport / Employer’s card / Aadhar card)
  • 3 month’s salary slip, Form 16, 6 month’s bank statement, Copy of title documents, Processing fee cheque.

For Self-employed Individuals

  • Application form with self-attested photograph.
  • Age proof(PAN card / Passport / Mark sheet with date of birth / Birth certificate)
  • Proof of residence (Passport / Driving Licence / Aadhar card / Voter’s ID card)
  • Proof of identity(Voter’s ID card / Passport / Employer’s card / Aadhar card)
  • Proof of business existence and years in business.
  • 2 years of income tax returns along with financial statements.
  • 6 month’s bank statement, Copy of title documents, processing fee cheque.