Indian Bank offers home loans for both resident Indians and Non-Resident Indians (NRIs) at attractive rates starting from 8.50% p.a. You can extend the tenure to 30 years. The applicable processing fee is 0.23% of the loan amount.
It’s always advised to calculate your EMI (Equated Monthly Instalment) and processing fee beforehand so that you can manage your finances in a better way. That way, you will be able to compare home loan interest rates and schemes offered by other financial institutions.
In order to that, you can use BankBazaar Indian Home Loan EMI Calculator. The entire process is quite simple and hassle-free with a quick turnaround time. All you need to do is enter your home loan details, including the amount, tenure, interest rate, and processing fee. Hit “calculate” to check the EMI and processing fee. This will be followed by an amortisation table giving you a complete breakdown of your payment schedule.
Indian Bank Home Loan Eligibility Criteria
Age
18 years to 70 years
Type of Employment
Salaried or self-employed
Nationality
Indian or NRI
Documents Required
For salaried
Proof of identity
Passport size photograph
Residential address proof
Age proof
Last 6 month’s bank statements
Last 3 months’ salary slips
Property-related documents
For self-employed
Proof of identity
Residential address proof
Passport size photograph
Age proof
Last 6 months’ bank statements
Business details
Profit and loss account statements with computation of income plus balance sheet
Latest Income Tax Returns
For NRIs
Proof of identity
Passport size photograph
Residential address proof
Overseas residential address proof
Latest NRE account statements
Business details (for self-employed)
Work permit or employment contract letter (for salaried)
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Since the interest rate is less hence i bought them. Indian bank is a Government based bank and their interest rate is matched based on the RBI rules hence my EMI tenure period will be less. Earlier i paid Rs. 15000 but now with Indian bank, the EMI amount is RS. 12000. Customer care service is not that much prompt. They took 45 days to sanctioning the loan.
The customer support is not good, the documentation process was not easy it took time get the loan. The approval also it took time to get the loan. The loan amount was good, rate of interest was higher than others, there was a processing fee with this loan.
I have applied for the home loan with the INDIAN BANK where the bank has the no proper customer support added on that the responsiveness is not good with this bank. the rate of interest was 8% fixed. I have changed the loan to another bank due to no proper customer support.
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8
CHANDRAMOULI VISHVANATHAN
, chennai
Reviewed on May 10, 2019
I took home loan from the INDIAN BANK. The Application easy and hassle free. I applied it , the application process and the documentation was done good which was much more convenient. Their interest rate was also nominal With in few days I got the loan credited to the account. Overall it was a good experience.
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9
RUKMANGADHAN THANGAVEL
, coimbatore
Reviewed on Dec 28, 2018
It was an average experience with Indian bank for home loan, the loan amount was for Rs 18 lacs with nominal interest rate when compared to others. Customer support was not up to the mark and their response was delayed. The tenure period for this loan is 20 years.
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7
ROHITASH SINGH
, ghaziabad
Reviewed on Nov 16, 2018
The experience with this loan has been okay but it has taken more time in sanctioning the loan. The loan amount which they had provided has been satisfactory and the interest rate with them has been nominal. There has not been any sort of charges which have been made by them.
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2
KARTHIKEYAN RATHINA SABAPATHI
, chennai
Reviewed on Oct 30, 2018
I have taken a home loan with Indian Bank and my experience was good, the loan amount was for Rs 19 lacs with nominal interest rate when compared to others. Customer service was good and they followed up on time. Tenure period was 10 years but i prelcosed within 5 years and there were no preclosure charges.
I have taken a home loan from Indian Bank. The process to get the loan was delayed and the process to close the loan was also a delay. It has not been a very satisfactory experience and the process was not that smooth. I finally transferred my loan to another bank.
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6
RAMA MURTHY TEJAVATHU
, secunderabad
Reviewed on Sep 15, 2018
I have taken home loan with INDIAN BANK . There is no hidden charges. I use to pay EMI on time and tenure period is 20years. I am satisfied with customer service, i did not face any inconvenience at the time of documentation . Processing fee is nominal. My loan experience was good. My loan amount is up to the mark .
The process in taking this Home loan from them has not been that satisfactory where the process has been slow and has taken more time than usual. The interest rate with them had been nominal when compared with the market rate, and their customer support and the staff response had been okay.
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4
ANNAMALAI RAMANADAN
, chennai
Reviewed on Jul 26, 2018
The process in getting this Home Loan had been very smooth and easy and within 3 days i had got this loan. The interest rate which they had been charging had been 8.3% and it was convenient and normal. The loan amount had been satisfactory and there has not been any issues faced with the banking services of them.
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6
SIVASANKAR CHOKALINGAM
, chennai
Reviewed on Jul 18, 2018
My housing loan experience was good with Indian bank, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Documents were collected on time and the customer service was good. The tenure for this loan is 20 years.
Got the housing loan with the INDIAN BANK around a month ago. The customer support service and the response is good with the Indian bank. They have disbursed the loan amount within a month time. The rate of interest an the charge are average here and I am satisfied with it.
Staff would be good throughout the processing but there are hidden charges and then Staff would show complete ignorance about these charges.
I was told that no processing fee for home loan (CRE), but later they deducted saying we didn't know it was there and nothing can be done about it.
Secondly, I clearly said, I am not interested in taking the home loan insurance, and if there is any mandate, I would prefer not to take it from Indian Bank. However, Post loan, they put a mandate to do Home loan insurance and saying, they will deduct it from account.
Got the home loan from the INDIAN BANK around a year ago. The customer support service is good with the INDIAN BANK and they have disbursed the loan amount within10days of time. The rate of interest and the charges are low and average with the INDIAN BANK home loan services.
My housing loan experience was good with Indian Bank, I got my loan very quickly from the bank. I have taken loan amount of Rs. 25 lakhs for the tenure of 20 years. Interest rate was standard around 10% for the whole year, it was a zero processing fee. I got my loan amount single shot.
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1
BONTHU SURYA TEJA
, hyderabad
Reviewed on Feb 09, 2018
I had applied for the home loan from Indian Bank, my loan application was approved and the requested amount was disbursed. The loan amount was for 16 lakhs with the rate of interest of 8.0% which is less when compared to other banks. The customer service was good, they provided door step service for the collection of documents. The process was smooth and the loan amount was approved within the given time.
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2
ABHISHEK KUMAR SINGH
, chennai
Reviewed on Nov 13, 2017
My dad has taken a home loan from Indian bank and since I am also a loan officer at the same bank. I would say that the process at the bank is great and this loan was taken 3 to 4 years ago and the processing charges was overall 2200 and the rate of interest was of 8.35%.
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1
AMIT KUMAR DHIMAN
, saharanpur
Reviewed on Nov 08, 2017
A lot of documentation process for my home loan was done by Indian Bank, Finally they disbursed the amount. Indian Bank gave me best rate when compared to other competitor, I am making ECS Payment its convenient to use. Indian Bank gave me user id and password to check my loan transaction.
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0
VEERASWAMY YARRAMSETTY
, hyderabad
Reviewed on Aug 19, 2017
I have taken my home loan from Indian Bank and the process to get this loan was not tedious. The documentation is normal and the disbursement was also on time. The interest rates and charges was a decent deal and the after loan services are also good.
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1
NAGARAJAIAH SHANKARA
, bangalore
Reviewed on Jun 30, 2017
