A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    IDFC Bank Home Loan

    IDFC Bank offers home loans at attractive rates of interest for you. The floating interest rate is about 8.35%. The minimum amount that can be availed as a loan is Rs.30 lakh. One of the highlights of this loan is that a maximum amount of Rs.10 crore can be availed. Another attractive feature is that there is a possibility that the processing fee might be waived. It is to be noted that there is nil pre-closure or part-payment charges, making it one of the best loan options available now. See below for more details on this.

    We found 1 IDFC Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.90% Floating
    ₹5,000 + Applicable Tax
    30L Min
    5-30 Years
    Response Time : Within 30 minutes
    What you'll love
    Fees & Charges
    Eligibility Criteria
    IDFC Bank Home Loan

    IDFC is one of the leading banks in India that offers attractive financial services and products. The home loans offered by this bank come with great flexibility and innovation. The home loan offers you the upfront money that you need to buy the house that you always wanted. You can avail these loans at lucrative rates of interest.

    Eligibility for IDFC Bank Home Loan:

    • The minimum age to apply for IDFC Bank Home Loan stands at 23 years. The co-applicant too must be 23 years old.
    • The minimum income of the applicant, if salaried, must be at least Rs.50,000 per month (gross fixed salary). This income considered must be the Gross Monthly Income (GMI) plus 50% of the past three months average incentives plus annual bonus per month.
    • The minimum loan amount that can be borrowed is Rs.30 lakh.

    IDFC Bank Home Loan Interest Rates and Other Charges:

    Type of interest Floating
    Rate of interest Salaried applicants – 8.35% Self-employed applicants – 8.45%
    Processing fees Nil processing fees till December
    Pre-closure or part-payment charges Nil

    Documents Required for IDFC Bank Home Loan:

    The documents needed to apply for IDFC Bank Home Loan are mentioned below:

    • Duly filled in and signed home loan application form along with recent passport sized photographs.
    • Photocopy of PAN (Permanent Account Number) card.
    • Photocopy of the Aadhaar card of the applicant.
    • Salary slips for the past three months.
    • Latest Form 16 or Income Tax Return certificate.
    • Bank statement for the last 6 months.
    • Property documents.

    Tenure of the IDFC Home Loan:

    • The minimum tenure of the loan is 5 years.
    • The maximum tenure of the IDFC Bank Home Loan is 30 years.

    Important Specifications of IDFC Bank Home Loan:

    Type of the property Ready to move in flats, houses and under-construction properties can be purchased using this loan. Gram Panchayat Properties or Bkatha cannot bought with this loan.
    Resident Type Company provided / Rented / Owned
    Employment status The applicant must have an at least 1 year of work experience in the current organisation and a total experience of 2 years, if salaried. In case of the self-employed home loan applicants, the minimum work experience must be at least 3 years.
    LTV or Loan to Value Ratio The LTV or Loan to Value ratio must be 85% for loans of up to Rs.30 lakh. For home loans ranging between Rs.30 lakh and Rs.75 lakh, the Loan to Value ratio must be 80%. For loans above Rs.75 lakh, the LTV must be 75%.
    FOIR For an amount of up to Rs.50 lakh, FOIR stands at 50%. For all other amounts, FOIR is 60%.
    Cross-city applications Both property and customer must be in the list of cities mentioned by the bank.
    Region specific filters Salaried employees working in Category A and Category B companies
    Category of Employer Mentioned in the enclosure
    Pin code List Mentioned in the enclosure
    Negative Pin code Mentioned in the enclosure
    NRI Policy Not applicable at the moment

    Types of IDFC Bank Home Loans:

    IDFC Bank knows that different people have different requirements. So, they have designed multiple home loan solutions that cater to the needs of all their customers. The types of IDFC Bank home loans are mentioned below:

    • Simple Home Loans
    • Short & Sweet Home Loan
    • Booster Home Loan
    • Maxx Saver Home Loan

    Features and Benefits of IDFC Bank Simple Home Loans:

    • The applicant can avail a home loan of up to Rs.10 crore.
    • The applicant can avail up to 85% of the value of the property as loan.
    • If the property is under construction, all that the applicant needs to pay during that period is the interest on the home loan.
    • The rates of interest offered by the Simple Home Loans are extremely competitive.
    • The digital document can be availed by the borrower on a pen drive.
    • The borrower can enjoy consolidated statement for all of the accounts that he/she holds with IDFC Bank.
    • Avail help and assistance with all your queries from phone bankers round the clock.

    Features and Benefits of Short & Sweet Home Loan:

    • The maximum amount of loan that can be availed under this loan scheme is Rs.10 crore and the Loan To Value ratio stands at 85%.
    • The applicant can deposit an extra money he/she has and save interest in turn.
    • The applicant can withdraw money from the account whenever he/she wants, just like any other savings account.
    • You can repay the loan faster as the deposits bring down the interest outgo.
    • When the applicant adds family members to this scheme, the eligibility of the applicant towards the loan goes up.
    • The applicant can avail mortgage credit shield for lucrative rates.

    Features and Benefits of Booster Home Loan:

    • The maximum amount of the loan that can be availed by an applicant under this home loan scheme is Rs.75 lakh. The LTV or Loan to Value ratio stands at 85%.
    • The principal moratorium gives a boost to the housing loan applicant. You can easily make profits from the future inflows as there is no principal repayment.
    • The applicant can use the additional amount for investments or management of finances.
    • The applicant can avail mortgage credit shield for lucrative rates.
    • The borrower can enjoy attractive rates of interest.
    • Avail help and assistance with all your queries from phone bankers round the clock.
    • The digital document can be availed by the borrower on a pen drive.

    Features and Benefits of Max Saver Home Loan:

    • The borrower can enjoy time savings of the Short & Sweet home loan and lower rates of interest of the Simple home loan.
    • The maximum loan that can be availed under this particular loan scheme is Rs.10 crore. The LTV or Loan to Value ratio should be 85%.
    • The applicant can choose to reduce the tenure of the loan to bring down the outflow of interest.
    • The applicant can enjoy loan liquidity with this scheme and withdraw whenever he/she wants treating it just like any other savings account.
    • The eligibility towards the loan can be increased by adding family members.

    IDFC Bank Home Loan Reviews

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