The Indian Bank offers Home Loan to customers for purchase of Home.

IB Home Loan

Eligibility

Minimum entry age is 18 years and maximum exit age is 70 years

Amount of Loan

* 60 times of Gross Monthly Income subject to availability of 40% Take Home Pay or more than Rs.20000/- after the proposed EMI including the requisite margin.

* For Repair or Renovation: Rs. 10 lakhs (Max)

Margin For Loans-

a) upto Rs. 20 lakhs : 10%
b) above Rs. 20 lakhs upto Rs.75 lakhs : 20%
c) above Rs.75 lakhs: 25%
d) For repairs or renovation: 30%

Processing fee -

0.230% on loan amount with a max. of Rs.20470/-

Interest Rates

Please refer the Lending Rates link on home page in our Bank`s Website

Repayment-

Loans for purchase / construction of House / Flat: 30 years (including holiday period)

Maximum Holiday Period of 18 months allowed for Home Loans for the purpose of construction of House / Flat

Maximum repayment period for Repairs and Renovation: 120 months
Prepayment charges

Security -

Equitable Mortgage of Property purchased / constructed out of loan proceeds
*{Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located }

CERSAI registration (at Applicant’s cost) to be done

(i) For Loans up to Rs 5 Lakhs - Rs 50 + ST

(II) For Loans above Rs 5 Lakhs – Rs 100 + ST

Contact-

Corporate Office - Postal Address

Indian Bank, Corporate Office,
PB No: 5555, 254-260, Avvai Shanmugam Salai,
Royapettah, Chennai - 600 014

Corporate Office - Phone Number
044 28134300