In our previous post, we discussed about the SBI Home loan interest rates, and PNB home loan interest rates, Bank of Baroda home loan interest rates, etc. In this article, we discussed the Indian Bank Home Loan Interest Rate. Not only SBI but also Indian Bank and many other banks provide home loans to fulfill your dream of making your own home. Basically, the Indian Bank offers attractive home loan interest rates which start from 8.40% p.a. with a maximum loan tenure of 30 years. The Indian Bank provides home loans for renovation, repair of an existing house, purchase of a plot, etc.
Indian Bank Home Loan Interest Rate
Indian Bank Home Loan Interest Rate
Product Name
Interest Rate
IB Home Loan to Elite Customers (Rs.15 lakhs & above)
8.40% to 8.80%
IB Home Loan to Elite Customers (Rs.15 lakhs & above) – Takeover
8.40% to 8.70%
IB Home Loan (CRE) to Elite Customers (Rs.15 lakhs & above)
8.90% to 9.30%
IB Home Loan to General Customers
9.20% to 9.40%
IB Home Loan CRE to General Customers
9.70% to 9.90%
IB Home Loan Premium
Product Name
Interest Rate
IB Home Loan Premium
9.00% to 9.20%
IB Home Loan to Corporate Entity
Product Name
Interest Rate
Home Loan to Corporate Entity
8.70% to 10.20%
IB Home Advantage
Product Name
Interest Rate
IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – Term Loan
8.45% to 8.80%
IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – Overdraft
9.45% to 9.80%
IB Home Advantage to General Customers – Term Loan
9.20% to 9.40%
IB Home Advantage to General Customers – Overdraft
10.20% to 10.40%
Indian Bank Plot Loan
Product Name
Interest Rate
Plot Loan to Elite Customers (Rs.15 lakhs & above)
9.40% to 9.80%
Plot Loan to General Customers
10.20% to 10.40%
IB Home Improve
Product Name
Interest Rate
IB Home Improve to Elite Customers (Rs.15 lakhs & above)
8.90% to 9.30%
IB Home Improve to General Customers
9.70% to 9.90%
IB Home Enrich
Product Name
Interest Rate
IB Home Enrich
9.40% to 9.95%
Home Loan Plus
Product Name
Interest Rate
IB Home Loan Plus to Elite Customers (Rs.15 lakhs & above)
9.00% to 9.70%
IB Home Loan Plus to General Customers
9.70% to 10.15%
Types of Indian Bank Home Loan
IB Home Loan
This type of home loan is used for the purchase of a new house, or flat, Construct a new house, or flat, the Purchase of a flat under construction and Repair and renovating an existing house or flat, the Construction of a house, flat, etc.
Age:- 18 year
Repayment Period:-General Home Loan: Maximum 30 years.
Tenure:- Regular Home Loan: Up to 30 years, and for Repair and Renovation: Up to 10 years.
IB Home Advantage
This home loan scheme is used to purchase, and construct a new house, flat, and an existing house, flats and to extend an existing house, etc. This type of home loan is also used to repair/renovate an existing house etc.
Age:- Resident Individuals:– Minimum entry age is 18 years and maximum exit age is 70 years. Non Residents:- Minimum Entry Age -21 years and maximum Exit age 60 years.
Tenure: Up to 30 years or 70 years of age.
No pre-payment charges.
Indian Bank Home Loan Plus
Any bonafide purpose is other than speculative purpose.
Age of the borrower, co-borrower / recognition of income level, and all other terms as per Home Loan Scheme only.
IB Home Improve
This home loan scheme is used for the purchase of household furniture, kitchen racks, cupboards, TV sets, Fridges, Computers, lighting, interior decorations, Air-Conditioners, Kitchen Chimneys, modern gadgets for the kitchen etc.
Tenure up to 10 years.
Loan Amount: 36 times of gross monthly income (Up to Rs 3 crore).
IB Home Enrich
The main purpose of this home loan scheme is to Repair/Renovation of the Residential Dwelling Unit.
Tenure up to 10 years
Age:- Min Entry Age – 18 years, Max Entry Age – 65 years, Max Exit Age – 70 years.
Loan Amount: Rs 1 lakh-Rs 10 lakh.
Repayment Period:- Maximum 10 years.
Documents Required for Home Loan from the Indian Bank
Passport size photograph, Age Proof
Copy of PAN, Aadhar Card & Voter Card of both applicant and guarantor
Last 6 month’s bank statements
Last 3 months’ salary slips
All Property-related documents
For NRIs:- Latest NRE account statements etc.
For more information visit the official site of Indian Bank Click Here.
"Nupur Tanan" works at Financewisdom.in. She has experience in writing a vast range of varied content. She write knowledgeable, well-researched, and engaging articles on various personal finance and banking related topics.
