IndusInd Bank Loan Against Property Interest Rate Calculator - Dec 2016

IndusInd Bank Loan Against Property Interest Rates

Last Updated 10th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 10.75% - 14.00%
Check Special Offers
Lowest EMI Rs. 1,121 per lakh
Max Tenure 15 years
Processing Fee Upto 2.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 60 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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IndusInd Bank Loan Against Property

IndusInd Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 0% of the market’s value for tenure of 18 years.

Special Features

  • Sanction in 4 days
  • Products for max eligibility
  • Nil prepayment charges for individuals

Loan Against Property IndusInd Bank

Loan Against Property interest rates offered by IndusInd Bank depends upon MCLR
  • Floating rates changes with a single change in IndusInd Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
IndusInd Bank offers Property Loan based on 1 Year MCLR which is currently 9.60%
IndusInd Bank mortgage loan interest rate depends upon
  • Loan amount: IndusInd Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: IndusInd Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. IndusInd Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. IndusInd Bank allows prepayment of loan against property with Individual Borrower- Nil, Others- 4% of Outstanding balance prepayment charges
Processing Fee - IndusInd Bank asks for a processing fee of 2.00% of loan amount with applicable service tax

IndusInd Bank Loan Against Property EMI Calculator

Loan Against Property EMI of IndusInd Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • IndusInd Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating IndusInd Bank Loan Against Property EMI?
  • IndusInd Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • IndusInd Bank EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

IndusInd Bank Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria IndusInd Bank
Eligibility of Loan Against Property in IndusInd Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: IndusInd Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 60 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: IndusInd Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. IndusInd Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. IndusInd Bank gives maximum LTV of 0% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. IndusInd Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. IndusInd Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, IndusInd Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 0 years and minimum ITR of last 1years is required as proof to IndusInd Bank
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Loan Against Residential Property
  • Property Mortgage Loan for Commercial Use

IndusInd Bank Floating Rate Loan Against Property

IndusInd Bank Loan Against Property Floating
Upto Rs. 3,000,000 - 10.75%
Rs. 3,000,001 - 7,500,000 - 10.75%
Rs. 7,500,001 - 10,000,000 - 10.75%
Above Rs. 10,000,000 - 10.75% linked to 1 Year MCLR

IndusInd Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to IndusInd Bank?
IndusInd Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of IndusInd Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property IndusInd Bank documents required

Loan Against Property for Salaried employee IndusInd Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 1 years
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed IndusInd Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 1 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Property documents for Loan Against Property from IndusInd Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of IndusInd Bank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
19th Oct 15 10.60% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
15th Jun 15 10.85% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
20th Aug 13 11.00% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
31st Oct 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
02nd Aug 11 10.50% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
21st Jun 11 10.00% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
09th May 11 9.75% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
21st Mar 11 9.25% increased by 0.5%
17th Mar 11: 0.25% repo hike by RBI
04th Mar 11 8.75% increased by 0.5%
31st Jan 11 8.25% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
10th Jan 11 8.00% increased by 0.25%
26th Nov 10 7.75% increased by 0.75%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

IndusInd Bank MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in IndusInd Bank ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from IndusInd Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to IndusInd Bank and other banks and all EMI's have been paid. Note that IndusInd Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to IndusInd Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will IndusInd Bank mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on IndusInd Bank property loan is linked to its 1 Year MCLR, which is currently 9.60%. So, when IndusInd Bank offers a loan against property at 10.75%, it applies a 1.15% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of IndusInd Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on IndusInd Bank loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

IndusInd Bank Loan Against Property in India

IndusInd Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1860-500-5004/ 022-44066666, reachus@indusind.com
Ahmedabad 1860-500-5004/ 022-44066666, reachus@indusind.com
Ambala 1860-500-5004/ 022-44066666, reachus@indusind.com
Anand 1860-500-5004/ 022-44066666, reachus@indusind.com
Aurangabad 1860-500-5004/ 022-44066666, reachus@indusind.com
Bangalore 1860-500-5004/ 022-44066666, reachus@indusind.com
Bhilai 1860-500-5004/ 022-44066666, reachus@indusind.com
Bhilwara 1860-500-5004/ 022-44066666, reachus@indusind.com
Bhiwadi 1860-500-5004/ 022-44066666, reachus@indusind.com
Bhopal 1860-500-5004/ 022-44066666, reachus@indusind.com
Bhubaneswar Cuttack 1860-500-5004/ 022-44066666, reachus@indusind.com
Bikaner 1860-500-5004/ 022-44066666, reachus@indusind.com
Chandigarh 1860-500-5004/ 022-44066666, reachus@indusind.com
Chennai 1860-500-5004/ 022-44066666, reachus@indusind.com
Cochin 1860-500-5004/ 022-44066666, reachus@indusind.com
Coimbatore 1860-500-5004/ 022-44066666, reachus@indusind.com
Dehradun 1860-500-5004/ 022-44066666, reachus@indusind.com
Delhi 1860-500-5004/ 022-44066666, reachus@indusind.com
Durg 1860-500-5004/ 022-44066666, reachus@indusind.com
Faridabad 1860-500-5004/ 022-44066666, reachus@indusind.com
Gandhinagar 1860-500-5004/ 022-44066666, reachus@indusind.com
Ghaziabad 1860-500-5004/ 022-44066666, reachus@indusind.com
Goa 1860-500-5004/ 022-44066666, reachus@indusind.com
Greater Noida 1860-500-5004/ 022-44066666, reachus@indusind.com
Gurgaon 1860-500-5004/ 022-44066666, reachus@indusind.com
Guwahati 1860-500-5004/ 022-44066666, reachus@indusind.com
Gwalior 1860-500-5004/ 022-44066666, reachus@indusind.com
Hyderabad 1860-500-5004/ 022-44066666, reachus@indusind.com
Indore 1860-500-5004/ 022-44066666, reachus@indusind.com
Jabalpur 1860-500-5004/ 022-44066666, reachus@indusind.com
Jaipur 1860-500-5004/ 022-44066666, reachus@indusind.com
Jalandhar 1860-500-5004/ 022-44066666, reachus@indusind.com
Jodhpur 1860-500-5004/ 022-44066666, reachus@indusind.com
Kanpur 1860-500-5004/ 022-44066666, reachus@indusind.com
Karnal 1860-500-5004/ 022-44066666, reachus@indusind.com
Kolhapur 1860-500-5004/ 022-44066666, reachus@indusind.com
Kolkata 1860-500-5004/ 022-44066666, reachus@indusind.com
Kota 1860-500-5004/ 022-44066666, reachus@indusind.com
Kozhikode 1860-500-5004/ 022-44066666, reachus@indusind.com
Lucknow 1860-500-5004/ 022-44066666, reachus@indusind.com
Ludhiana 1860-500-5004/ 022-44066666, reachus@indusind.com
Madurai 1860-500-5004/ 022-44066666, reachus@indusind.com
Meerut 1860-500-5004/ 022-44066666, reachus@indusind.com
Mehsana 1860-500-5004/ 022-44066666, reachus@indusind.com
Mohali Sas Nagar 1860-500-5004/ 022-44066666, reachus@indusind.com
Mumbai 1860-500-5004/ 022-44066666, reachus@indusind.com
Mussoorie 1860-500-5004/ 022-44066666, reachus@indusind.com
Nagpur 1860-500-5004/ 022-44066666, reachus@indusind.com
Nashik 1860-500-5004/ 022-44066666, reachus@indusind.com
Noida 1860-500-5004/ 022-44066666, reachus@indusind.com
Noida Extn. 1860-500-5004/ 022-44066666, reachus@indusind.com
Panipat 1860-500-5004/ 022-44066666, reachus@indusind.com
Patna 1860-500-5004/ 022-44066666, reachus@indusind.com
Pondicherry 1860-500-5004/ 022-44066666, reachus@indusind.com
Pune 1860-500-5004/ 022-44066666, reachus@indusind.com
Raipur 1860-500-5004/ 022-44066666, reachus@indusind.com
Rajkot 1860-500-5004/ 022-44066666, reachus@indusind.com
Ranchi 1860-500-5004/ 022-44066666, reachus@indusind.com
Rohtak 1860-500-5004/ 022-44066666, reachus@indusind.com
Roorkee 1860-500-5004/ 022-44066666, reachus@indusind.com
Salem 1860-500-5004/ 022-44066666, reachus@indusind.com
Shimla 1860-500-5004/ 022-44066666, reachus@indusind.com
Sonepat 1860-500-5004/ 022-44066666, reachus@indusind.com
Surat 1860-500-5004/ 022-44066666, reachus@indusind.com
Trichy 1860-500-5004/ 022-44066666, reachus@indusind.com
Udaipur 1860-500-5004/ 022-44066666, reachus@indusind.com
Vadodara 1860-500-5004/ 022-44066666, reachus@indusind.com
Varanasi 1860-500-5004/ 022-44066666, reachus@indusind.com
Vijaywada 1860-500-5004/ 022-44066666, reachus@indusind.com
Vizag 1860-500-5004/ 022-44066666, reachus@indusind.com
IndusInd Bank Loan Against Property News - Dec 2016
26th Aug 16 IndusInd has reduced its 1 year MCLR from 26th August, 2016
IndusInd Bank has reduced its 1 year Marginal Cost of Fund Based Lending Rate (MCLR) by 15 basis point (bps) to 9.75 percent from 9.9 percent. The change are effective from 26th August, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR. For borrowers who have taken a home loan from IndusInd Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken the home loan at fixed interest rate then your interest expense will remain unchanged.
24th Aug 16 IndusInd Bank ties up with IBM for improved customer engagement services
IndusInd Bank has tied up with IBM to use its cloud commerce solutions to convert customer arrangements and boost its cross-sell platforms. In an agreement of three years, IBM will provide a cloud and predictive analytics based multi-channel campaign managing solution that enables IndusInd Bank to build up its online banking presence while improving the product holding per customer. Using customer behavior analysis and real-time contextual advertising, banks can make sure that customers relating with the bank on any channel will receive relevant and timely communications.
12th Jul 16 IndusInd Bank Q1 net up 26% at Rs 661.38 cr
IndusInd Bank posted 26 per cent rise in net profit for the quarter ended June 30. The bank posted net profit of Rs 661.38 crore for the quarter, compared with Rs 525.04 crore in the corresponding quarter of the previous financial year. The bank would continue its focus on the digital medium. It launched its Finger Print mobile banking during this quarter.
11th Jul 16 IndusInd Bank reports a 26 percent increase in its Net Profit
As per the results for Q1FY17, IndusInd Bank reported 26 percent increase in Net Profit to Rs 661 crore. This was supported by a strong increase in its Net Interest Income. The Net Interest Income increased by 28 percent and the advances showed a growth of 30 percent year on year in June quarter. Asset quality weakened mildly in Q1FY17 as Gross NPAs increased to 0.91 percent of total advances, up from 0.87 percent as on March 2016 and the Net NPA stood at 0.38 percent in June quarter compared to 0.36 percent as on March 2016.
24th May 16 IndusInd Bank and Reliance General Insurance Tie up for Distribution of Insurance Products
IndusInd Bank has recently signed a Corporate Agency Agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on Bancassurance post the recent multi bank partner guidelines issued by IRDAI.
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