Loan Details
Bank Name
Indian Bank
Maximum Loan Tenure
Up to 10 years.
Maximum Loan Amount
Up to 10,00,000
Interest Rate
9.40% to 9.95% per annum.
Type
Floating
Down Payment
LTV ratio of up to 70%.
Fees and Charges
Processing fees- NIL
Pre-payment charges: NIL for floating interest rate.
Late payment charges: 2% per annum for the default/overdue period.
Legal charges: At actuals.
Stamp Duty and registration charges: At actuals.
Minimum CIBIL Score
Not specified by the bank.
Down Payment and Fees
IB Home Enrich.
Special Features
No processing fee.
Eligibility Criteria
Resident individuals & NRI individuals owning a residential dwelling unit in their name and supported by a copy of the latest Tax Paid certificate/Sale deed/Gift deed/Mutation Certificate/Partition deed.
Salaried Class, Businessman, Professional and Self- employed people, Pensioners having a steady source of income and have put in a minimum period of confirmed service/experience of 3 years (including previous employment/experience and confirmed in the present employment).
The staff of the bank and the spouse of the staff can also avail this loan. In such cases the guarantee of spouse/staff is compulsory.
Existing home loan customers can also avail this loan.
Special Concession
No
Home Saver Option
No
Features, Eligibility and Concession
Pros
Minimal processing fee and penal charges.
Cons
Low LTV ratio.
The amount for this loan is limited to 10 lakhs only.
Pros & Cons
Application Procedure
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