IDFC FIRST Home loan interest rates starting from 8.75% p.a. You can get a maximum of Rs.10 crore with these schemes. With flexible repayment tenures of up to 30 years, you don’t have to worry about your monthly EMI.
On IDFC First Home Loan Official Website
Updated: 29-05-2024 02:19:22 PM
| Loan amount | Rs. 5 Lakhs – Rs. 10 Crores |
| Rate of interest | 8.75% |
| Tenure | Up to 30 years |
| Lowest EMI possible | Rs. 787 Per Lakh |
| Processing fee | Up to 3% of Loan Amount |
The attractive features of IDFC FIRST Home Loans are mentioned below:
Following are the benefits of availing IDFC FIRST housing loan:
IDFC FIRST Home Loan rate of interest are as follows:
IDFC Home Loan Interest Rate Details:
| Loan Types | Salaried | Self Emp. |
|---|---|---|
| Home Loan | 8.85% | 9.25% |
| Home Loan Balance Transfer | 8.85% | 9.25% |
| Home Loan Top Up | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount |
| Lender | Maximum Loan | Maximum Tenure | Interest Rate | Processing Fee |
|---|---|---|---|---|
| IDFC FIRST Bank Home Loan | Rs. 10 Crores | 30 years | 8.75% | Up to 3% |
| Kotak Home Loan | Rs. 10 Crores | 25 years | 8.70% | Up to 0.50% |
| RBL Bank Home Loan | Rs. 10 Crores | 25 years | 8.90% | 1.50% |
| Federal Bank Home Loan | Rs. 15 Crores | 30 years | 8.80% | 0.50%, minimum Rs. 10,000 & maximum Rs. 45,000 |
Types of IDFC FIRST Bank Home Loans depend on the purpose for which the Home Loan is availed, such as:
Home Loan at IDFC FIRST Bank involves the various fees and charges, such as IDFC FIRST Home Loan Processing Fees, foreclosure charges, etc.:
| Processing fee | Up to 3% of loan amount |
| Foreclosure charges |
|
| EMI bounce charges | Rs. 400 for each bounce |
| Charges for repayment instrument swap | Rs. 500 per change request |
| Charges for copies of documents/ duplicate list of documents | Rs. 500 per request |
| Default interest | 2% p.m. |
| Duplicate NOC/ NDC | Rs. 500 per request |
| Cancellation of disbursement cheque | Rs. 500 per cancellation |
| MCLR to EBR type
|
0.5% or Rs. 20,000, whichever is lower |
| Switch fees | Up to 0.5% of the outstanding loan amount (applicable for variable rate loans for conversion from MCLR to EBR). |
| Product conversion fees | Up to 0.5% of the outstanding loan amount (applicable for conversion of Short & Sweet Loan to Simple Home Loan and vice versa). |
| Re-pricing fees | Up to 2% of the outstanding loan amount |
| Other statutory/mortgage creation charges, like Stamp duty, MOD, MOE, etc. | As per actual |
IDFC FIRST Home Loan eligibility is dependent on the following factors:
IDFC FIRST Home Loan Documents requirement is mentioned below in details:
| Document Type | Accepted Documents (Self-attested copies) |
| Proof of Photo Identity | Any one: Aadhaar Card/ Passport/ Pan Card/ Voter’s ID/ Driving License |
| Proof of Address | Any one: Aadhaar Card/ Ration Card/ Passport/ Bank Account Statement/ Driving License/ Latest Utility Bills (Electricity Bill, Telephone Bill etc.)/ Sale Deed/ Property purchase agreement (in case of owned properties). |
| Proof of Income (Self-attested copy of relevant documents) | Salaried employees:
Self-Employed:
|
| Proof of Business |
|
| Property Proof |
|
Apply for instant home loan online at Interest Rate starting from as low as 8.50% p.a. Pay EMI of just Rs. 769 per Lakh. Loan can be repaid in flexible tenure of up to 30 years. Apply now with minimal documentation.
Yes, the borrower has to make a down payment for Home Loan as IDFC FIRST Bank provides an LTV ratio of up to 90% of the cost of the property. You have to arrange for the remaining 10% upfront on your own.
No, there is no need to visit a branch of IDFC FIRST Bank to apply for the loan. You can apply online for a Home Loan through their website or mobile application (which can be downloaded from the Google Play and Apple App Store). Alternatively, you can also apply through MyMoneyMantra. You will receive a call soon after the application process.
No. Having a co-applicant is not mandatory to apply for IDFC FIRST Home Loan. However, applying for a loan with a co-applicant can increase your eligibility for the loan.
The bank offers fixed and floating both Home Loan interest rates to the customers.
If you choose a floating interest rate Home Loan, the repayment tenure will be affected. The EMI can be changed only on the customer request.
You can use the IDFC FIRST EMI Calculator or Home Loan EMI Calculator available on MyMoneyMantra for free.
