IDFC First Bank

Home Loan

IDFC First Bank home loan ensures that you can own your dream home. You don’t need to drain your savings for a big upfront payment, either. The bank gives you the freedom to choose your repayment plan and loan tenure. You get flexible options and a loan amount that covers up to 90 percent of your property’s value. Here is what you should know about IDFC First Bank home loans. 

Overview of the IDFC First Bank Home Loan 

IDFC First Bank has designed home loans for people like you – whether you’re a salaried professional, non-salaried individual, or living outside India. Here is an overview of the IDFC First Bank home loan. 

Details of IDFC First Bank Home Loan Interest Rates 

Interest rates charged by the IDFC First Bank are simple to understand. Your home loan interest rate starts at 8.85 percent per annum. It depends on your credit score and which loan scheme you pick. Here is what you should know. 

Compare IDFC First Bank Home Loan Interest Rates With Other Banks

Banks offer different home loan rates for each slab. Here’s how IDFC First Bank home loan compares to other banks.  

You get competitive rates for the IDFC First Bank reverse mortgage loan and other home loan types. 

IDFC First Bank Home Loan Processing Fees And Charges

Processing fees make a difference. The processing fees and charges related to an IDFC First Bank home loan are pretty straightforward. Here are the details. 

IDFC First Bank Home Loan EMI Calculator

IDFC First Bank Home Loan EMI calculator helps you figure out payments before you sign anything. Let’s say you want Rs. 20 lakh for twenty years at 8.85 percent interest – your EMI would be around Rs. 17,802. Choose Rs. 40 lakh and rates go up to 8.85 percent, EMIs move towards Rs. 35,604. You use the calculator to determine the tenure, loan amount, and different schemes. That way, you know exactly what fits your budget.

Types Of IDFC First Bank Home Loan

IDFC First Bank offers different types of loans. Each is crafted for a specific need.

• Home Loan (regular/TL): You use this loan to buy, build, extend, or repair a home. The disbursement time for this loan is ten to fourteen days. 

• Maxgain Home Loan (OD): This loan gives overdraft flexibility so you can use your extra cash smartly.

• NRI Home Loan: If you earn abroad, you apply for a property in India with the IDFC First Bank NRI home loan.

• Top Up Home Loan: This loan provides an additional amount on your current home loan if you need more funds. 

• Reverse Mortgage Loan: If you’re retired, you unlock value in your home while living there with this loan. 

Eligibility Criteria to Apply for an IDFC First Bank Home Loan

Easy eligibility means you can apply quickly. Here’s what you need to know about the IDFC First Bank home loan eligibility. 

• Age between 21 and 70 (at loan closure)

• Income from salary, business, or abroad

• Property with a clear title and approvals

• Option to apply with a co-applicant

• Good credit history for better rates

• Minimum income set by the scheme

Documents Required For IDFC First Bank Home Loan

You need the following documents to apply for an IDFC First Bank home loan. 

• PAN card, Aadhaar card, Passport

• Utility bill, driving license (as address proof)

• Salary slips or income tax returns

• Bank statement for the past six months

• Property papers – sale deed, title, and approval

• Recent passport photos

• Documents of your co-applicant, if any

You must know about the IDFC First Bank home loan documents required to get rapid approvals. 

How to Apply For an IDFC First Bank Home Loan? 

Getting started doesn’t take much effort. Here is how to apply for an IDFC First Bank home loan. 

• Go to your local IDFC First Bank branch or visit the official IDFC First Bank website

• Fill out the home loan application form online or offline

• Upload or submit your documents

• Wait for the bank to verify your details and check your property

• Get the sanction letter, sign the agreement, and collect your funds

IDFC First Bank Home Loan Application Status

You track the status online using the reference number. You can also call customer support to know the status of the home loan approval. If you prefer walking in, visit any branch and check the status by communicating with the loan department. 

IDFC First Bank Home Loan Customer Care & Postal Address

The customer support is available always – on the phone, website, or by email if you have queries. The complete postal addresses of the branches are available on the official website. The customer support team helps you with every minute detail related to home loans.