As one of the leading public sector banks, Indian Bank provides some of the best offers and interest rates for home loans. Be it for a new construction or home improvement, applicants can choose from various options, depending on specific requirements and eligibility criteria.
1. Loan Amount: The loan amount offered by Indian Bank varies as per the home loan scheme. However, the home loan goes up to 12 crores.
2. Attractive Interest Rate: Starting from $$Indian Bank -home-Loan-for-salaried-self-employed$$, the interest rate on home loan offered by Indian Bank is economical and varies as per your credit score
3. Prepayment/Foreclosure Charges: If you avail of a home loan from Indian Bank at a floating interest rate, you don’t need to pay any prepayment or foreclose charges. In the case of a fixed interest rate, the charge would be economical
4. Processing Fee: To process your home loan application, Indian Bank charges a processing fee of up to 1% p.a.
5. Digital Application Process: To ease down the process and to save the customers from the hassle of visiting the bank, Indian Bank allows individuals to apply for a home loan digitally
6. Flexible Tenure: You can easily pay your Indian Bank home loan EMIs up to a flexible tenure of 30 years and make your EMIs affordable and convenient
7. Balance Transfer Facility: To ensure that your home loan is affordable, and you pay less interest rate, Indian Bank allows you to transfer your existing home loan from other banks to Indian Bank
8. Easy Documentation Process: The documentation required to apply for a home loan varies as per the scheme you avail. However, Indian bank has kept the documentation process less complicated to allow quick disbursal of the loan amount