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Indian Bank Home Loan Interest Rates 2022

Indian Bank Housing Loan Interest Rate -Today

Last Updated 12th May 2022

  • Current Indian Bank Home Loan interest rates May 2022 starts at 7.55% p.a. for a maximum tenure of 20 years.
  • The processing fee on Indian Bank housing loans is Upto 0.23%, Maximum ₹ 20,381. Check Best Offers.
  • Indian Bank offers a special discount of 0.05% on interest rates for women borrowers.
  • Use Indian Bank home loan interest calculator to calculate EMI on lowest rates.
Interest Rate General 7.60% - 7.85%
Interest Rates for Women 7.55% - 7.80%
Benchmark rate RLLR
Processing Fees NIL
Part Payment/Foreclosure Charges Nil for floating rate home loans
Balance Transfer Rates 6.50%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Voucher

Indian Bank Home Loan Interest

Indian Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 7.55%. Apart from the interest rate, the bank also has various other charges such as Indian Bank processing fee and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

  • Current Indian Bank Bank housing loan interest rates range between 7.60% to 7.85% for male borrowers.
  • Indian Bank home loan interest for women borrowers is less than the general housing loan rates and starts at 7.60%.
  • Existing customers can get the lowest Indian Bank bank home loan rate by negotiation with the bank.

Indian Bank Housing Loan Processing Fee and Other Charges

Indian Bank home loan processing charges are upto 0.23% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Indian Bank charges the maximum processing fees at ₹ 20,381 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 Upto 0.23% of the loan amount; maximum fee of ₹ 20,381
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest Rates on Indian Bank Home Loans Schemes

Indian Bank offers a housing loan interest rate of 7.55%. 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, Indian 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 Indian Bank home loan rates for multiple housing schemes.

Indian Bank Home Loan Scheme IR Salaried (Male) IR Salaried (Female) IR Self-employed (Male) IR Self-employed (Female)
Indian Bank Repo Rate Home Loan 7.60% 7.60% 7.65% 7.65%

Indian Bank Home Loan Interest Rate for Salaried and Self-Employed

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

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 7.60%
₹ 30 Lakh - ₹ 75 Lakh 7.70%
₹ 75 Lakh - 2 Cr 7.85%
Above ₹ 2 Cr 7.85%

Housing Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 7.65%
₹ 30 Lakh - ₹ 75 Lakh 7.75%
₹ 75 Lakh - 2 Cr 7.90%
Above ₹ 2 Cr 7.90%

Indian Bank Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Indian Bank Home Loan Interest For Women Indian Bank Home Loan Interest For Govt Employee
Upto ₹ 30 Lakh 7.55% 7.60%
₹ 30 Lakh - ₹ 75 Lakh 7.65% 7.70%
₹ 75 Lakh - 2 Cr 7.80% 7.85%
Above ₹ 2 Cr 7.85% 7.85%

Indian Bank Home Loan Balance Transfer Interest Rates

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

Illustration on Home Loan Interest Rate Indian Bank
Maximum Annual Percentage Rate (APR) 7.56% to 7.86%
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 20 Years
  • Indian Bank Home Loan Interest Rate: 7.55% to 7.85%
  • Processing Fee payable to: Upto ₹ 230
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 809 for 20 Years ₹ 1,00,000 loan at 7.55% (lowest rate, longest time period) to ₹ 2,020 for 5 Years ₹ 1,00,000 loan at 7.85% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.56% to 7.86%
  • Total cost payable over loan tenure: ₹ 1,20,600 for 5 Years loan to ₹ 1,94,306 for 20 Years loan

Indian Bank Home Loan Rate Trends (Historical)

Indian Bank, which is one of the leading HFC in the country offers the lowest home loan rate starting at 7.55%. There has been no change in the lowest interest rate of Indian Bank home loan interest rate for a long time and the interest rate continues to be in the range of 7.55% to 7.95%.

FAQs

Is Indian Bank home loan a floating rate loan or a fixed-rate loan?

Indian Bank offers home loans 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 Indian Bank home loan interest rate for existing customers?

Existing customers of Indian Bank who have any other loan accounts or investment accounts in Indian Bank can get a discounted rate than the general Indian Bank bank home loan interest rate. The current Indian Bank home finance rate of interest is 7.55%.

What is the Indian Bank home loan rate today?

Indian Bank offers home loan interest rate today is in the range of 7.55% to 7.85%. The bank does not charge any processing fees on the home loan amount. You can get the lowest Indian Bank interest rate if you have a good CIBIL and existing relationship with the bank.

Why should I opt for balance transfer to Indian Bank?

Indian Bank offers the lowest balance transfer rates on housing loans. At the lowest rates, your housing loan EMI will be ₹ 809. If you are paying an EMI of more than ₹ 809, you should transfer your outstanding loan from the existing bank to Indian Bank. Apart from the discounted rates, you can also avail of flexible loan tenure, top-up loans and other benefits.

Can Indian 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 Indian Bank to lower the Indian Bank interest rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Does Indian Bank offer a concessional home loan interest rate for women?

Yes, Indian Bank offers special home loan interest rates for women. As against Indian Bank home loan rates for male which is 7.60%, the home loan interest rate for women starts at 7.55%.

At what interest rate does an Indian Bank employee get a home loan?

Indian Bank offers concessional home loan rates of about 1% than the current home loan rates to Indian Bank employees.


Indian Bank Home Loan Reviews 3/5  by 1 customers
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Banks Service
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Dinesh, Coimbatore
Reviewed on 17th Mar 2015
3 / 5 stars
Indian Bank Home Loan Availed in Feb-17

Very friendly branch manager. Explained the loan terms in detail and helped in the loan application Read more...

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Indian Bank Home Loan News - May 2022
  • 2022-02-08 : Indian Bank Net up 34 per cent on Increased Income and Higher Cash Recovery
    Indian Bank has reported a 34% jump in its net profit to Rs 690 crore for the third quarter. The bank earned a profit of Rs 514 crore in the corresponding quarter of last fiscal. In addition, the total income also increased 3% to Rs 11,482 crore from Rs 11,168 crore.
  • 2021-12-02 : Indian Bank Fraud of Over Rs. 33 Crores to RBI
    Indian Bank has reported fraud of Rs. 33 Crores regarding the two of its accounts that turned into Non Performing Assets.
  • 2021-11-10 : Indian Bank Launches Video KYC Facility
    Indian Bank has launched a Video KYC (Know Your Customer) facility. This facility allows customers to open accounts or avail any other services sitting at home. The VKYC is enabled with VCIP technology developed in conjunction with Gieom Business Solutions.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-06-01 : Indian Bank reported a Q4 profit of 1,709-cr
    Indian Bank reported a net profit of Rs 1,708.85 crore in the March-ended quarter. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20. The net profit of the bank backed by retail loan like home, LAP, personal, two-wheeler, car education and doctor loan along business and mudra loan was recorded at Rs 3,004.68 crore.
*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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