Loan Details
Bank Name
Indian Bank Limited
Maximum Loan Tenure
Maximum 10 years
Maximum Loan Amount
Maximum – Rs.10.00 lakhs
Interest Rate
9.40% to 9.95%
Type
Floating
Down Payment
30%
Fees and Charges
Processing fees- Nil Pre payment charges- Nil Penal interest- 2% per month. Legal Fee: At actuals. Stamp Duty And Registration Charges: At actuals.
Minimum CIBIL Score
Not specified.
Down Payment and Fees
IB Home Enrich
Special Features
One of the lowest interest rate.
Eligibility Criteria
- Resident individuals & NRIs Individuals owning a residential dwelling unit in their name and supported by 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 steady source of income and who have put in a minimum period of confirmed service / experience of 3 years (including previous employment / experience and confirmed in the present employment).
- Staff of IB Bank as well as Spouse of the staff can also avail this Loan. Existing Home loan customers can also avail this loan.
- Age Min Entry Age – 18 years Max Entry Age – 65 years Max Exit Age – 70 years
Special Concession
None.
Home Saver Option
No.
Features, Eligibility and Concession
Pros
- Low interest rate.
- Suitable for various employment categories, including salaried, businessmen, professionals, self-employed individuals, and pensioners.
- Wide loan amount range from Rs.1.00 lakh to Rs.10.00 lakhs. Flexible Net Take Home Pay (NTHP) criteria based on annual income.
- Maximum repayment period of 10 years.
- Holiday period allowed until repairs/renovation completion or 3 months from loan disbursement, with compulsory monthly interest servicing. Reasonable interest rates. Various security options, including lien on bank term deposits, pledge of NSCs, and assignment of LIC policies.
Cons
- Difficult to navigate site and extremely difficult to apply online for home loan.
- Indian bank has limited network.
Pros & Cons
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T11:00:59Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
