IndusInd Bank offer a wide range of home loan products to its customers in order to cater to their needs. The Home loans are offered at attractive interest rates and comes with long repayment tenures of up to 30 years.
A Home loan from IndusInd Bank can be availed by both resident and non-resident Indians. The bank offers loan to both salaried and non-salaried individuals.
IndusInd Bank Home Loan Fees and Charges
The IndusInd Bank Home Loan schedule of charges can be summed up as follows:
Particulars
Schedule of Charges
Loan Processing Charges
Up to 5% of the loan amount
Documentation Charges
Nil
Stamp Charges
As per the Stamp Act of the state
Loan Cancellation Charges
Up to Rs.2,500 per case
Overdue Interest (per month)
Up to 24% p.a. compounded monthly
Collection Charges
For local visit – Rs.100 per instance
For outstation visit – Rs.250 per instance
Preclosure Charges
2% to 5% of the outstanding principal amount
Repayment Dishonour Charges
Rs.500 per instance + Bank charges
Swap Charges
Up to Rs.500 per instance
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Documents Required for IndusInd Bank Home Loan
The documents required to be submitted in order to avail a home loan from IndusInd Bank varies depending on the type of the applicant.
For Salaried Individuals
Application form with photograph
Identity proof
Residence proof
Signature proof
Copy of the salary slips for the last three months
Form 16 or ITR for the last three years
Copy of the bank statements for the last 6 months
Processing fee cheque
For Self Employed Professionals
Application form with photograph
Identity proof
Residence proof
Signature proof
Proof of business existence
Educational qualifications certificate
ITR of last 3 years
Profit/loss statement and balance sheet for the last 3 years
Copy of the bank statements for the last 6 months
Processing fee cheque
For Self Employed Business
Application form with photograph
Identity proof
Residence proof
Signature proof
Proof of business existence
Educational qualifications certificate
Business profile
ITR of last 3 years
Profit/loss statement and balance sheet for the last 3 years
Copy of the bank statements for the last 6 months
Processing fee cheque
IndusInd Bank Home Loan EMI Calculator
Before availing the home loan from IndusInd Bank, you can calculate the amount that needs to be paid as EMI using the IndusInd Bank Home Loan calculator. This comes in handy while managing the funds in a better way. All you need to do is enter the loan amount, interest rate, and tenure to calculate the EMI.
FAQ's
Am I eligible to apply for a home loan from IndusInd Bank?
Yes, you are eligible for availing a home loan. All you need to do is apply in the prescribed format and submit all the necessary documents.
What is the maximum loan term that I can avail?
The maximum loan period offered by IndusInd Bank on its home loan is 30 years.
What is the maximum quantum of home loan that IndusInd Bank can provide?
IndusInd Bank can provide loan up to 80% of the price of the property.
Does IndusInd Bank offer the facility of balance transfer?
Yes, IndusInd Bank offers the balance transfer facility to its customers.
Can I avail a loan against property from IndusInd Bank?
Yes, IndusInd Bank offers home loans against property. You can get it at attractive interest rates.
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I have taken INDUSIND home loan because my friend suggested it to me.The tenure of the loan is for 17 years with an interest rate of 11.5%. For submission of documents i have to run up and down apart from that it was fine.But it would have been good if the procedure is little short and not to deduct any installment from account without clearing the check first.
I have applied for one more credit card with HDFC BANK so have told Indusind Bank to cancel the card because I was comfortable with the benefits of HDFC card. There is no clarity on the documentation part. They did not disclose the interest rate.
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5
MOHAMMED YOUSUF
, kolkata
Reviewed on Sep 09, 2019
The home loan experience was good with INDIA BULLS . The interest rate was high as compare to others. The processing fee is nominal. I think, they have disbursed the loan amount within few days The document procedure is simple. Overall it is good experience .
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5
MURALI MOHAN JAMI
, hyderabad
Reviewed on Jun 21, 2019
I have done a balance transfer with the INDUSIND BANK where i have taken the home loan with this bank and the rate of interest was 8% which was fixed and closed this loan too. The documentation process was simple and easy to get the credit card.
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7
CHANDRAMOULI VISHVANATHAN
, chennai
Reviewed on May 10, 2019
Indusind bank documentation, disbursal and take over part was very disappointed. I took three days of leave to follow my home loan. They took 15 days to sanction the amount with lots of follow up. I took the loan amount Rs. 27 lakhs for the duration of 12 years. Finally I switch over to Bajaj finserv, even the interest was not flexible.
I have been using the housing loan with the INDUSIND BANK and i have done the balance transfer from another bank. The rate of interest was nominal when compared to the others, the duration for repaying the loan is for 15 years with this loan.
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6
SHIVA PRASAD KALLA
, hyderabad
Reviewed on Apr 12, 2019
It has been a good experience i had with the services of them. The process has been easy in getting the loan and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal and there has not been any sort of charges which had been made by them.
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4
AYSKANTA MOHAPATRA
, new delhi
Reviewed on Nov 02, 2018
I have taken home loan with IndusInd bank and the experience was good, the loan amount was for Rs 17 lacs with high interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 10 years.
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5
AMIT ASHOK KESHRI
, mumbai
Reviewed on Oct 24, 2018
My experience was not up to the mark with IndusInd bank home loan , the loan amount was for Rs 5 lakhs with high interest rate when compared to other banks. I asked for the subsidy of the loan but there was no response from the customer support of this bank. The tenure period for this loan is 2 years.
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3
LAVLESHKUMAR TIVARI
, ahmedabad
Reviewed on Jul 31, 2018
My home loan was taken with INDUSIND bank 6 years back . The loan amount was 20 lakhs and the interest rate was 13% which was average in the market. The EMI period was 10 years . Here the processing fee was very high in the market but I am satisfied with the smooth loan process. They have sanctioned the loan with the committed time also. MY overall experience was good.
For my home loan, Indusind bank quoted an interest rate of 12.5% which is higher than other banks. Actually it has been two months now since I had availed a loan from them, so I am waiting for three more months, after which I am planning to transfer my home loan to other bank where I could get the lowest interest rate. Also this is the slowest process which I had ever seen. The loan amount is 8.54 lakhs but the interest amount is 6.5 lakhs so, it is really frustrating.
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2
CHINNAMUTHU MUTHULAKSHMI
, chennai
Reviewed on Apr 21, 2017
As being a staff of IndusInd bank got an offer in interest rate and that is of fixed range. Interest rate varies time to time but it is similar to other banks as it ranges between 10 to 11%. Processing charge is 2% but I got it for 1%. IndusInd bank did not entertain an insurance for a home loan at that time.
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1
VENKATALAXMI NAIDU NAIDU
, chennai
Reviewed on Jul 28, 2015
Interest rate I was offered was 11% for home loan, which is normal. My home loan was approved within 3 to 4 working days. After consulting with me the money was transfered to the builders. The processing fee is nominal. service was good so far. No feed back as such everything is perfect in IDBI bank.
I am holding a Indusind Visa Card. I use this card for paying utility bills, for traveling and also for online purchases. I do get bonus points for every 100rs spent. Its a life time free card and I do get benefits in getting tickets from Jet Airways.
