Product Details
Bank Name
IDFC Bank
Maximum Loan Tenure
Up to 30 years.
Maximum Loan Amount
Up to 10,00,00,000
Interest Rate
8.85% per annum onwards.
Type
Floating
Down Payment
Up to INR 30 lakh: Up to 90%.
Above INR 30 lakh & up to INR 75 lakh: Up to 80%.
Above INR 75 lakh: Up to 75%.
Fees and Charges
Processing fees-Up to 3% of the loan amount.
Pre-payment charges: NIL for floating interest rate.
Late payment charges: 2% per month of the unpaid EMI or Rs 300 whichever is higher.
Legal charges: At actuals.
Stamp Duty and registration charges: At actuals.
Minimum CIBIL Score
Not specified by the bank.
Down Payment and Fees
Home Loan
Special Features
None
Eligibility Criteria
For Self-Employed Individuals:
Resident Indians only.
Aged between 23-70 years.
Minimum 4 years of business continuity.
Must earn minimum ₹1.5 lakh per annum.
Tenure duration 12 months - 300 months.
For Salaried Individuals:
Resident & Non-Resident Indians.
Aged between 21-60 years.
Minimum 3 years of experience.
Must earn minimum ₹1 lakh per annum.
Tenure duration 12 months – 360 months.
Special Concession
No
Home Saver Option
No
Features, Eligibility and Concession
Pros
Loan tenure of up to 30 years.
Maximum loan amount of up to 10 crores.
Cons
High processing fee.
No Home Saver option.
Pros & Cons
Application Procedure
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