IDFC First Bank offers home loans with interest rates starting from 8.85% p.a., with loan tenures extending up to 30 years and financing for up to 90% of the property’s value. The bank provides home loan solutions for purchasing, constructing, or renovating residential properties, catering to both salaried and self-employed individuals.
IDFC First Bank also offers features such as a home loan balance transfer facility, allowing borrowers to transfer their existing home loans from other banks at competitive rates, and top-up loan options for additional financial requirements. With benefits like quick approval, minimal documentation, and flexible repayment plans, IDFC First Bank home loans are tailored to suit a wide range of financial needs.
IDFC First Bank Home Loan Highlights Interest Rate* 8.85% p.a. onwards Loan Amount (LTV Ratio) Up to Rs 10 crore Loan Tenure Up to 30 years Processing Charges Up to 3% of the loan amount Minimum Income For Salaried: Rs 1 lakh p.a.For Self-Employed: Rs 1.5 lakh p.a.
Types of Home Loans
Type of Home Loan Purpose LTV Ratio Tenure Special Features Home Loan Purchase or construction of a new home Up to 90% Up to 30 years Competitive interest rates, Flexible repayment options Home Loan Balance Transfer Transfer existing home loan from other banks Up to 90% Up to 30 years Lower interest rates for women borrowers, Quick processing Home Renovation Loan Renovation or repair of existing home Up to 90% Up to 15 years Lower interest rates, Top-up facility available Home Extension Loan Extend existing home or add additional space Up to 90% Up to 30 years Tailored for self-employed individuals, Flexible repayment options Top-Up Home Loan Additional funding on an existing home loan Up to 90% Up to 15 years Special rates for NRIs, Repayment in foreign currency allowed
Why Choose IDFC First Bank Home Loan?
IDFC First Bank Home Loan Features & Benefits
Low interest rates
Low processing fees
Less paperwork
No prepayment penalties
No hidden costs and administrative charges
Balance home loan transfer
IDFC First Bank Home Loan Interest Rate
Customer Type Effective Rate Of Interest For Salaried Starting from 8.50% For Self-employed Starting from 8.75%
Eligibility Criteria for IDFC First Bank Home Loan
Requirements Salaried Self-Employed Residency Indian/NRI Indian/NRI Age 21-60 years 23-70 years CIBIL Score Above 750 Above 750 Minimum Net Income Rs 1 lakh p.a. Rs 1.5 lakh p.a.
Documents Required for IDFC First Bank Home Loan
Documents Salaried Individuals Self-Employed Professionals SENP/Co./HUF/Partnership Firm/LLP Passport ✔ ✔ ✔ Driving License ✔ ✔ ✔ Life Insurance Policy ✔ ✔ ✔ Birth Certificate ✔ ✔ ✔ PAN Card ✔ ✔ ✔ School Leaving Certificate ✔ ✔ ✔ Voter ID Card ✔ ✔ ✔ Aadhaar Card ✔ ✔ ✔ Passport-sized Photographs ✔ ✔ ✔ Salary Slips for the last 3 months ✔ ✖ ✔ Income tax returns (last 2-3 years) ✖ ✔ ✔ Bank statements (last 6-12 months) ✔ ✔ ✔ Yearly increment letter ✔ ✖ ✔ Certified true copy of Form 16 ✔ ✖ ✔ Business Profile on letterhead ✖ ✔ ✖ Profit & Loss Projection Statement (2 years) ✖ ✔ ✖ Operative current account statement ✖ ✔ ✖ Bank statements for CC/OD facilities ✖ ✔ ✖ Form 16 or income tax returns (last 2 years) ✔ ✖ ✖ Employment letter or appointment letter ✔ ✖ ✖ income certified by a CA for the last 2 years ✖ ✔ ✔ Financial statements of the firm/company (last 2-3 years) ✖ ✔ ✖
How to Apply for a Home Loan at the IDFC First Bank?
You can apply in two ways:
Through the official IDFC First Bank Ltd. portal by filling out the application form and tracking the application status online.
Contact Us at +91 636909 5433 or Visit Grow Associates for more convenient option
IDFC First Bank Home Loan Interest Rates vs Other Banks & HFCs
Bank Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh IDFC First Bank Starting from 8.50% Starting from 8.75% Starting from 8.90% Aditya Birla Bank Starting from 8.25% p.a. Starting from 8.15% p.a. Starting from 8.00% p.a. RBL Bank 8.70% per annum 8.60% per annum 8.55% per annum SBI Bank 8.5% p.a. onwards 8.5% p.a. onwards 8.5% p.a. onwards HDFC Bank 8.7% p.a. onwards 8.7% p.a. onwards 8.7% p.a. onwards ICICI Bank 8.85% p.a. onwards 8.85% p.a. onwards 8.85% p.a. onwards Kotak Mahindra Bank 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Punjab National Bank 8.40% – 12.10% p.a. 8.40% – 12.10% p.a. 8.40% – 12.10% p.a. Bajaj Housing Finance 8.50% p.a. onwards 8.50% p.a. onwards 8.50% p.a. onwards Axis Bank 8.75%-13.30% p.a. 8.75%-13.30% p.a. 8.75%-9.65% p.a. Bank of India 8.4% p.a onwards 8.4% p.a onwards 8.4% p.a onwards TATA Capital 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards
Other IDFC First Bank Loans
