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IDFC First Home Loan Interest Rates 2022

IDFC First Bank Housing Loan Interest Rate -Today

Last Updated 19th Jan 2022

Loan AmountSimple Repo Rate Home Loan Rate
Upto ₹ 10 Cr6.50%
₹ 10 Cr - ₹ 0 6.50%
₹ 1 - ₹ 0 6.50%
Above ₹ 0 6.50%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

IDFC First Bank Home Loan Rate

IDFC First Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.50% up to 6.50%. Apart from the interest rate, the bank also has various other charges such as IDFC First Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

IDFC First Bank Home Loan Processing Fee and Other Charges

IDFC First Bank charges a minimum processing of ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees minimum processing fee of ₹ 10,000
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on IDFC First Home Loans Schemes

IDFC First Bank offers a housing loan interest rate at 6.50%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, IDFC First Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are IDFC First Bank home loan rates for multiple housing schemes.

IDFC First Bank Home Loan Scheme Interest Rates
Simple Repo Rate Home Loan6.50%

IDFC First Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in IDFC First for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 10 Cr 6.50%
₹ 10 Cr - ₹ 0 6.50%
₹ 1 - 0 6.50%
Above ₹ 0 6.50%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 10 Cr 6.50%
₹ 10 Cr - ₹ 0 6.50%
₹ 1 - 0 6.50%
Above ₹ 0 6.50%

IDFC First Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount IDFC First Home Loan Rate For Women IDFC First Home Loan Rate For Govt Employee
Upto ₹ 10 Cr 6.50% 6.50%
₹ 10 Cr - ₹ 0 6.50% 6.50%
₹ 1 - 0 6.50% 6.50%
Above ₹ 0 6.50% 6.50%

IDFC First Home Loan Balance Transfer Interest Rates

IDFC First Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to IDFC First Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, IDFC First Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate IDFC First Bank
Maximum Annual Percentage Rate (APR) 6.51% to 6.51%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • IDFC First Bank Home Loan Interest Rate: 6.50% to 6.50%
  • Processing Fee payable to: Upto ₹ 250
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 632 for 30 Years ₹ 1,00,000 loan at 6.50% (lowest rate, longest time period) to ₹ 1,957 for 5 Years ₹ 1,00,000 loan at 6.50% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.51% to 6.51%
  • Total cost payable over loan tenure: ₹ 1,17,647 for 5 Years loan to ₹ 2,27,795 for 30 Years loan


Has IDFC First reduced home loan rates?

As per the current rates, IDFC First has cut its home loan rates by 0.4% from 6.90% to 6.50%, which is one of the best rates in the market. The new rates are effective from 23 Jun, 2021.

Why should I opt for balance transfer to IDFC First Bank?

IDFC First Bank offers lowest Home Loan EMI of ₹ 632 per lakh availed at the lowest interest rate 6.50% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 632 per lakh, you should consider the option for a loan transfer to IDFC First from your existing bank. Current IDFC First balance transfer rate is 6.50%.

Can IDFC First Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with IDFC First to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can IDFC First revise the home loan interest rates for their existing customers?

Yes, IDFC First offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does IDFC First offer a concessional home loan interest rate for women?

Yes, IDFC First offers special home loan interest rates for women. As against IDFC First home loan rates for male which is 6.50%, the home loan interest rate for women starts at %.

What is the IDFC First home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, IDFC First provides home loan interest rate starting at 6.50%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an IDFC First employee get a home loan?

IDFC First offers concessional home loan rates of about 1% than the current home loan rates to IDFC First employees.

Is IDFC First Bank home loan a floating rate loan or fixed-rate loan?

IDFC First home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the IDFC First home loan rate today ?

IDFC First home loan rate today is in the range of 6.50% to 6.50%.The bank also charges a processing fee of upto Minimum ₹ 10,000 of the home loan amount.

How much interest does IDFC First take on home loans?

The rate of interest on IDFC First home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, IDFC First home loan current interest rate 2021 are in the range of 6.50% to 6.50%.

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IDFC First Home Loan News - Jan 2022
  • 2021-11-01 : IDFC First Bank Profit Jumps By 50 Percent
    Private sector bank, IDFC First Bank has reported a nearly 50 percent jump in net profit. In the quarter ended in September 2021 the lender had a profit of Rs 151.74 crore, last year the profit was of Rs 101.41 crore. Total income during July-September of FY22 rose to Rs 4,880.29 crore, as against Rs 4,090.87 crore in the same quarter of FY21.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-05-21 : IDFC First Bank profit surged 78% to Rs 128 crore
    IDFC First Bank reported a 78% jump in net profit at Rs 128 crore for the fourth quarter ended March 2021. The bank had posted a profit of Rs 72 crore during the corresponding January-March quarter a year ago. Total income during the fourth quarter rose to Rs 4,834 crore backed by Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan.
  • 2021-01-22 : IDFC First Bank retail loan surges 100%
    IDFC First Bank reported that its retail deposits which includes home, personal, car, two wheeler, gold and LAP increased 100% Y-o-Y. In addition to this, Customer Deposits of the Bank which includes FD and RDs increased to Rs. 77,289 Cr as on 31 December 2020 from Rs. 54,631 Cr as on 31 December 2019 . CASA ratio on outstanding deposits as on 31 December 2020 was 48.4%.
  • 2020-07-31 : IDFC First Bank Ltd Q1FY21 consolidated net profit at Rs. 100.07 crore
    IDFC Bank posted a net profit of Rs.100.07 crores for the period ended June 30, 2020, as against Rs.76.36 crores for the period ended March 31, 2020. The company bolstered by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans has reported total income of Rs.4413.19 crores during the period ended June 30, 2020 as compared to Rs.4553.07 crores during the period ended March 31, 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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