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IndusInd Bank Loan Against Property

IndusInd Bank Mortgage Loan Interest Rates 2022

Last Updated 03rd May 2022

IndusInd Bank is one of the largest Private Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 7.10% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of IndusInd Bank Loan against property are mentioned below: Check Best Offers

Interest Rates 7.10% to 7.10%
Processing Fee Upto 2.00%
Max Tenure 15 years
Lowest EMI per lakh ₹ 904
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 for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Voucher

    IndusInd Bank Loan Against Property

    IndusInd Bank offers loan against property to meet your business and personal needs against the mortgage of your existing residential or commercial property. Taking a loan from IndusInd Bank has the following benefits:

    • Multiple products for maximum eligibility
    • Fast Processing at your doorstep
    • Nil prepayment charges for individuals

    IndusInd Bank Loan Against Property Fees and Other Charges

    Along with IndusInd Bank Loan against Property Rates, IndusInd Bank also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on IndusInd Bank Loan against Property Loan is 2.00%. This fee is charged by IndusInd Bank to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Loan Against Property Interest Rates in IndusInd Bank for Salaried Employees

    The mortgage loan interest rates in IndusInd Bank for salaried employee are listed in the table:-

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 7.10%
    ₹ 30 Lakh - ₹ 75 Lakh 7.10%
    ₹ 75 Lakh - ₹ 1 Cr 7.10%
    Above ₹ 1 Cr 7.10%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 7.10%
    ₹ 30 Lakh - ₹ 75 Lakh 7.10%
    ₹ 75 Lakh - ₹ 1 Cr 7.10%
    Above ₹ 1 Cr 7.10%

    IndusInd Bank Property Loan Interest Rate for Business Man or Self-Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 7.10%
    ₹ 30 Lakh - ₹ 75 Lakh 7.10%
    ₹ 75 Lakh - ₹ 1 Cr 7.10%
    Above ₹ 1 Cr 7.10%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 7.10%
    ₹ 30 Lakh - ₹ 75 Lakh 7.10%
    ₹ 75 Lakh - ₹ 1 Cr 7.10%
    Above ₹ 1 Cr 7.10%

    Steps to Apply for IndusInd Bank Loan Against Property

    Apply With MyLoancare

    To get the best offers on SBI Loan against Property, you can apply for a Loan against Property at MyLoanCare. The online marketplace helps you compare the best offers, check eligibility, calculate EMI. To apply for a loan against property click here

    Apply With SBI Website

    • You can also apply for SBI Loan against Property with SBI through online and offline modes.
    • To apply for a loan offline, visit the official SBI bank branch and fill out the application form along with the required documents for a loan against property.
    • The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.
    • To apply online for SBI Loan against Property online, visit the official website of SBI and navigate to Loan Against Property.
    • Before applying, now check your eligibility for SBI Loan against Property. If you are satisfied and have cross verified all the details, fill out the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Compare IndusInd Bank Loan Against Property Interest Rate with Top Banks

    IndusInd Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars IndusInd Bank SBI HDFC
    Interest Rate 7.10% - 12.85% 8.80% - 13.10% 7.65% - 8.80%
    Processing Fees Upto 2.00%
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.50%
    Min ₹ 7,500
    Loan Tenure 15 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 5 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 21 and Max 60 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate RLLR RLLR PLR
    Lowest EMI Per Lakh ₹ 904 per lakh ₹ 1,256 per lakh ₹ 936 per lakh
    IndusInd Bank Floating Rate on Loan Against Property

    As on 18 May, 2022, IndusInd Bank offers the lowest rate starting at 7.10%. IndusInd Bank Loan against property rates have been dropped by 0.4%, from the earlier rate of 7.50% with effect from 25 Apr, 2022.

    IndusInd Bank Mortgage Loan Interest Rates
    IndusInd Bank Loan Against Property Floating 7.10%
    IndusInd Bank Loan Against Property Floating
    Loan AmountCurrent Loan against Property Rates
    Upto ₹ 30 Lakh 7.10%
    ₹ 30 Lakh - ₹ 75 Lakh7.10%
    ₹ 75 Lakh - ₹ 1 Cr7.10%
    Above ₹ 1 Cr 7.10%

    IndusInd Bank Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    25 Apr, 2022 7.10%
    10 Feb, 2022 7.10%
    26 Oct, 2021 7.50%
    11 Oct, 2021 7.60%
    10 Aug, 2021 8.00%
    22 Jun, 2021 8.65%

    Factors Affecting IndusInd Bank Loan against Property Interest Rates

    Some of the factors that impact IndusInd Bank Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in IndusInd Bank depend upon the loan amount you apply. You can get a minimum loan of ₹ 10 Lakh from IndusInd Bank.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for a higher loan amount.
    • Type of loan opted for: IndusInd Bank offers differential rates for customers' different profiles, for fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties can be availed easily at the lowest rates compared to loans against commercial and industrial properties.
    • Your profession: IndusInd Bank may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    IndusInd Bank Loan Against Property Eligibility Criteria

    IndusInd Bank has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 21 to 60 years
    Loan Amount ₹ 10 Lakh to ₹ 5 Cr
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    IndusInd Bank Mortgage Loan Interest Rate and EMI Calculator

    You can use an online IndusInd Bank Loan against property EMI Calculator to calculate loan EMIs at different rates of interest and check and compare the lowest EMI per lakh on Loan against Property. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan.

    Loan Against Property Top up, Transfer in IndusInd Bank

    IndusInd Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of IndusInd Bank at an affordable interest rate, higher loan amount and convenient loan tenure. IndusInd Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in IndusInd Bank are 7.10%. Along with that, you can also avail of additional top-up on your loan against property.

    Loan Against Property IndusInd Bank Products

    IndusInd Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Loan Against Residential Property

    • You can take a loan against property by mortgaging your residential property for tenure upto 15 years.
    • You can avail a residential mortgage loan for personal and business needs.
    • Salaried individuals must be working with a well-known public sector company/MNC.
    • Self-employed professionals/non-professionals filling income tax can also apply for the loan.
    • Individuals,Partnership firms, Private Limited Companies and Closely held Public Ltd Companies can take a loan against residential property.

    Property Mortgage Loan for Commercial Use

    • Apply for property mortgage for your commercial use for tenure upto 15 years.
    • You can avail commercial mortgage loan for expanding business, purchasing machinery or for working capital needs etc.
    • Salaried individuals working permanently in a public sector company or govt undertaking or MNC can apply for a commercial mortgage loan.
    • Salaried and self-employed professionals/non-professionals working as Individuals, Partnership firms, Private Limited Companies and Closely held Public Ltd Companies can take a loan against commercial property.

    IndusInd Bank Loan Against Property Documents Required

    For Self-Employed

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

    Check Loan Against Property Interest Rate in Major Banks

    FAQs

    What is IndusInd Banks loan against property interest rate?

    IndusInd Bank offers loan against property at a rate of 7.10% with the lowest EMI of ₹ 904. If you are currently paying a higher interest rate than the IndusInd Bank rate, you can opt for a balance transfer of loan to IndusInd Bank.

    Did IndusInd Bank Loan against property rates drop?

    Yes, IndusInd Bank loan against property rates has decreased by 0.4% from the previous rate of 7.50% to 7.10%. The lowest mortgage rates of IndusInd Bank are effective from 25 Apr, 2022.

    How to increase my eligibility on IndusInd Bank Mortgage loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

    Can I foreclose my Mortgage loan? What are the charges applicable?

    Yes, you can foreclose your IndusInd Bank loan against property anytime you want with Individual Borrower- Nil, Others- 4% of Outstanding balance foreclosure charges.

    What is the maximum loan tenure I can opt under IndusInd Bank Property loan?

    IndusInd Bank offers a maximum tenure of 15 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

    What is the benchmark rate applicable for Mortgage loan?

    The benchmark rate applicable for property loans in IndusInd Bank is RLLR

    Can I transfer my Loan against Property from another bank to IndusInd Bank?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Loan balance transfer to IndusInd Bank offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in IndusInd Bank are 7.10%.

    What is IndusInd Bank mortgage loan processing fees?

    The loan processing fee charged is 2.00% of the total loan amount.

    What security do I need to provide for IndusInd Bank Mortgage Loan?

    IndusInd Bank requires a registered mortgage of the property against which the bank will provide you a loan.

    • Property on which you intend to take a loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    • Your total EMIs 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 the 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 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 application
    • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

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

    You can prepay a loan against property 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

    IndusInd Bank Loan Against Property Reviews 3.3/5  by 2 customers
    MyLoanCare Service
    3.5/5.0
    Banks Service
    3/5.0
    ManojKumar TKR, Coimbatore
    Reviewed on 05th Dec 2015
    2.5 / 5 stars
    IndusInd Bank Loan Against Property Availed in Dec-17

    I was searching for a possible loan against my property online and found myloancare. When I gave my Read more...

    Manoj RAMKRISHNAN, Coimbatore
    Reviewed on 04th Dec 2015
    4 / 5 stars
    IndusInd Bank Loan Against Property Availed in Dec-17

    Good follow up from IndusInd bank. Got to know about them through MyLoanCareRead more...

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    IndusInd Bank Loan Against Property News - May 2022
    • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
      IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
    • 2021-08-10 : IndusInd Bank slashes interest rate on loan against property
      IndusInd Bank has decreased the interest on loan against property. Earlier the minimum interest rate was 8.65% which is reduced to 8.00% and maximum interest rate now is 12.00%, earlier it was 12.50%. The bank sanctions loan amounts for up to 65% of the property amount.
    • 2021-06-22 : IndusInd Bank revised its Marginal cost of lending rates
      IndusInd Bank revised its MCLR. The overnight, one-month and three months rate is 8.15%, 8.20% and 8.30%, respectively. The six months MCLR is 8.50%. MCLR for long tenors of 1 year is 8.60%, for two years it is 8.90%, and for three years it is 8.95%. The revised rates are effective from 22 June 2021.
    • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
      IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
    • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
      IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
    *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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