In association with INDUSIND Ltd., IndusInd Bank offers home loans to cater to the home financing requirements of low-income groups. To get more information on IndusInd home loans, let’s go through the article:
IndusInd Bank Home Loan Interest Rates
Below mentioned are the interest rates applicable to different home loan products for Women and Others:
| Home Loan Schemes | Interest Rate for Women | Interest Rate for Others |
| INDUSIND Regular Home Loan | 6.70% – 8.80% | 6.70% – 8.80% |
| INDUSIND Reach Loan | 9.25% – 14.25% | 9.25% – 14.25% |
| Plot Loan | 8.15% – 9.00% | 8.20% – 9.05% |
| Rural Housing Loan | 8.05% – 9.60% | 8.10% – 9.60% |
| Home Improvement Loan | 8.00% – 8.80% | 8.00% – 8.80% |
| Home Extension Loan | 8.00% – 8.80% | 8.00% – 8.80% |
| Top-Up Loan | 8.00% onwards | 8.00% onwards |
IndusInd Bank Home Loan Fees & Charges
| Particulars* | Charges |
| Processing fees | Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
|
| Prepayment charges | No prepayment charges for floating rates |
| Check dishonour charges | Rs. 200 |
| List of documents | Up to Rs. 500 |
| Photocopy Of documents | Up to Rs. 500 |
| PDC Swap | Up to Rs. 200 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Re-appraisal of loan post 6 months from sanction | Up to Rs. 2,000 |
| Increase/Decrease in the loan term | Up to Rs. 500 |
* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
Types of IndusInd Bank Home Loan
1.Regular Home Loan Scheme
A regular home loan scheme can be availed to buy, build or renovate a flat/house.
| Loan Amount | Up to 90% of the property value |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
2. INDUSIND Reach Loans
This customized loan can be availed by salaried and self-employed individuals who have a minimum income of Rs. 10,000 p.m. and Rs. 2 lakh p.a, respectively. It can be used to buy a new or existing home or a plot. Also, it can be used for renovation, extension, or construction of both residential and non-residential premises.
| Loan Amount | Up to 80% of the property value |
| Interest Rate | 9.25% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | Up to 2% of the loan amount |
3. INDUSIND Plot Loans
This product can be availed by customers who are looking to buy a plot for constructing a house. It also helps customers to buy a plot in resale or through a direct allotment.
| Loan Amount | Up to 80% of the property value |
| Interest Rate | Women: 8.15% onwards Others: 8.20% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
4. INDUSIND Rural Housing Loans
This product was introduced to help agriculturists, planters, horticulturists, and, dairy farmers to let them buy an under-construction or a new or an existing residential property in rural and urban areas. Also, salaried/self-employed professionals can apply for this scheme.
| Loan Amount | Up to 90% of the property value |
| Interest Rate | Women: 8.05% onwards Others: 8.10% onwards |
| Loan Tenure | Up to 30 years |
| Processing Fee | ● Salaried/Self employed: Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
|
5. INDUSIND Home Improvement Loans
This product allows those customers who are looking for funds to renovate or repair their existing house.
| Loan Amount | ● New customers: Up to 90% of the improvement estimate ● Existing customers: Up to 100% of the improvement estimate |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
6. INDUSIND Home Extension Loans
For those who want to extend or add additional space to their homes, this product will best suit them. It is available to both new and existing customers.
| Loan Amount | Up to 90% of the estimate |
| Interest Rate | 6.70% onwards |
| Loan Tenure | Up to 20 years |
| Processing Fee | Up to 0.50% of the loan amount |
7. INDUSIND Top Up Loans
This scheme is available to customers looking for additional funds for personal or business purposes. Existing customers as well as new customers availing INDUSIND Home Loan Balance Transfer facility can apply for the loan.
| Loan Amount | Up to 90% of the estimate |
| Interest Rate | ● Existing Customers: 8.70% onwards ● New Customers: 8.00% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
8. INDUSIND Home Loan Balance Transfer
Customers can lower down their loan repayments by availing of the Balance Transfer Facility. Additional Top up Loan of up to Rs. 50 lakh is also available under this scheme.
| Loan Amount | Up to Rs. 50 lakh |
| Interest Rate | 8.00% onwards |
| Loan Tenure | Up to 15 years |
| Processing Fee | Up to 0.50% of the loan amount |
9. INDUSIND Home Loan for NRI/PIO
This scheme is available to NRIs, PIOs, and OCIs looking for funds for the construction or purchase of a new house or remodeling or redoing the interiors of an existing home.
10. Pradhan Mantri Awas Yojana (PMAY)
It is a government scheme launched to provide housing to all urban and rural poor across India. Under the scheme, the government offers interest subsidies of up to Rs. 2.67 lakh on home loans availed for buying, constructing, extending, or renovating homes. INDUSIND Bank extends the affordable housing benefits of Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS) to all the customers eligible for this scheme.
IndusInd Bank Home Loan Customer Care Details
Customers can reach out to IndusInd Bank at the below-mentioned contact number during the Bank Timings. To get the home loan-related queries resolved, customers shall call on the customer care number within the INDUSIND Bank Timings which are as mentioned below:
Segment Within India: 18602677777
Segment Outside India: 022-44066666