1 Crore IDFC First Bank Home Loan

The IDFC First Bank 1 crore home loan is a remarkable credit option. Whether you want to purchase a home in a prime location or construct it yourself, the bank ensures a hassle-free borrowing experience. Eligible applicants can also expect competitive interest rates, nominal processing fees, and personalised repayment plans, making it a more cost-effective home loan. Nevertheless, before finalising your decision, it is advisable to clearly understand all the features of the IDFC First Bank 1 crore home loan. These may include the 1 crore home loan EMI IDFC First Bank, eligibility criteria, required documents, and associated fees. Let’s scroll down to learn more.

1 Crore Home Loan IDFC First Bank – Highlights

Have a close look at the IDFC First Bank home loan interest rate for 1 crore and other key parameters:

1 Crore Home Loan EMI for 5 Years IDFC First Bank 

For a tenure of 5 years, the breakdown of 1 crore home loan EMI in IDFC First Bank will be as follows.:

1 Crore Home Loan EMI for 10 Years IDFC First Bank

The IDFC First Bank home loan 1 crore EMI rates and amount for a tenure of 10 years are given below:

1 Crore Home Loan EMI for 15 Years IDFC First Bank

A detailed look at the 1 crore home loan EMI for 15 years from the IDFC First Bank is as follows.

1 Crore Home Loan EMI for 20 Years IDFC First Bank

Tthe rates for a 1 crore home loan EMI for 20 years from the IDFC First Bank are as follows:

1 Crore Home Loan EMI for 25 Years IDFC First Bank 

The rates and amount for a 1 crore home loan EMI in IDFC First Bank for a tenure of 25 years are as follows:

1 Crore IDFC First Bank Home Loan – Fees and Charges 

Besides the IDFC First Bank home loan interest rate of 60 lahks, there are certain charges you must review:

• Processing Fee: Up to 3% of the loan amount
• Prepayment Charges: Nil
• Late Payment Charges: 2% per month on the default EMI
• Stamp Duty & Other Statutory Charges: As per the state law

1 Crore IDFC First Bank Home Loan – Documents Required

Following are the expected documents for the IDFC First Bank 1 crore home loan:

• KYC Documents: PAN card, Aadhaar card, Voter ID, Passport, or Driving License.
• Residential Documents: Utility bill, Aadhaar card, Driving License, Passport, or rental agreement. 
• Salary Documents: Salary slip for last 2 months, ITR or Form 16 for last 1 year, and bank statement for last 6 months. 
• Business Documents: Recent ITR, balance sheet or P&L statement, GST return, 6-month bank statements, etc.
• Property Documents: Sale Deed, NOC from the society, Allotment/Possession letter, and other documents as per legal report.

1 Crore IDFC First Bank Home Loan – Eligibility Criteria 

To be eligible for a ₹1 crore home loan from IDFC First Bank, applicants must be either salaried or self-employed individuals. Salaried employees should be between 21 and 60 years of age, while self-employed individuals must fall within the age range of 23 to 70 years. Additionally, salaried employees are required to have a minimum of 3 years of work experience, whereas self-employed individuals need to demonstrate at least 4 years of continuous business activity. The income criteria specify that salaried employees must have an annual salary of at least ₹1 lakh, while self-employed individuals should earn a minimum of ₹1.5 lakh per annum. In terms of nationality, salaried employees can be either Resident or Non-Resident Indians, while self-employed individuals are required to be Indian residents.