40 Lakh IDFC First Bank Home Loan

Home Loan By Property
Home Loan By Profession
Home Loan By Other
Home Loan By Amount

IDFC First Bank's 40 lakh home loan scheme can be used by home enthusiasts looking for instant home loan assistance to avoid delays in purchasing the keys to their dream home. The interest rates are very competitive, starting at just 8.85% per annum, making paying EMIs easy and affordable. Additionally, a loan tenure of up to 30 years and a loan of up to 10 crores add to the convenience. The home loan applicant can avail of this loan scheme using the digital process and benefit from the best loan eligibility in the market. Finding the 40 lakh IDFC First Bank home loan scheme attractive? Keep scrolling through!

Get in Touch for Home Loan Expert Advice

Connect with our Home Loan Advisor Now!

Personalized Home Loan solutions
Expert guidance
Application assistance
Credit score discussion
Home Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. IDFC First Bank 40 Lakh Housing Loan Highlights

2. IDFC First Bank 40 Lakh Home Loan EMI For 5 Years

3. IDFC First Bank 40 Lakh Home Loan EMI For 10 Years

4. IDFC First Bank 40 Lakh Home Loan EMI For 15 Years

5. IDFC First Bank 40 Lakh Home Loan EMI For 20 Years

6. IDFC First Bank 40 Lakh Home Loan EMI For 25 Years

7. Fees & Charges of IDFC First Bank 40 Lakh Home Loan

8. Documents Required for a 40 Lakh IDFC First Bank Home Loan

9. Eligibility Criteria for a 40 Lakh IDFC First Bank Home Loan

Written By

Satyam Sachdeva

Satyam has always been interested in saving money and realising its worth. He created a Demat account when he turned 18 and has been a keen equity and mutual fund investor. Currently, a writer for Urban Money, he uses his skills to guide his readers in the right direction. Satyam strives to make financial complexities easy for everyone to understand with a pinch of creative salt.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

IDFC First Bank 40 Lakh Housing Loan – Highlights

Check the key features and highlights of the IDFC First Bank 40 lakh home loan by checking the table below:

Key Highlight	Details
Interest Rate	Starting at just 8.85% per annum
Digital Loan Process	Seamless digital application process for loans up to ₹10 crore with a tenure of up to 30 years.
Tailor-Made Loans	Minimal documentation and customised loan options tailored to individual needs.
Loan Amount	Up to 10 crores
Top-Up Facility	Up to 100% top-up on existing loans at the same rate as balance transfers.
Higher Eligibility	Enhanced loan eligibility for both salaried and self-employed customers.
FASTTRACK Balance Transfer	Quick and easy transfer of existing home loans with the FASTTRACK Balance Transfer Facility.
Loan Tenure	Up to 30 years
Customer Testimonials	Positive feedback for quick loan disbursement, seamless documentation, and excellent customer service.
Mobile Banking Access	Apply for and manage home loans through the IDFC FIRST Bank Mobile Banking app.

IDFC First Bank 40 Lakh Home Loan – EMI For 5 Years

The EMI applicable on a 40 lakh IDFC First Bank home loan over a 5-year period is given below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 40 lakhs	9% p.a.	5 years	₹83,033	₹9,82,005	₹49,82,005

IDFC First Bank 40 Lakh Home Loan – EMI For 10 Years

The table below shows the calculated EMI on the 40 lakh IDFC First Bank home loan over a 10-year tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 40 lakhs	9% p.a.	10 years	₹50,670	₹20,80,437	₹60,80,437

IDFC First Bank 40 Lakh Home Loan – EMI For 15 Years

Refer to the table below, which shows the calculated EMI on a 40 lakh IDFC First Bank home loan over a 15-year tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 40 lakhs	9% p.a.	15 years	₹40,571	₹33,02,719	₹73,02,719

IDFC First Bank 40 Lakh Home Loan – EMI For 20 Years

Over a period of 20 years, the EMI applicable on the 40 lakh IDFC First Bank home loan is mentioned in the table below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 40 lakhs	9% p.a.	20 years	₹35,989	₹46,37,369	₹86,37,369

IDFC First Bank 40 Lakh Home Loan – EMI For 25 Years

Check the table below, which shows the applicable EMI that will be charged monthly over a 25-year tenure on the IDFC First Bank 40 lakh home loan:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 40 lakhs	9% p.a.	25 years	₹33,568	₹60,70,356	₹1,00,70,356

Fees & Charges of IDFC First Bank 40 Lakh Home Loan

The applicable fees and charges on the 40 lakh IDFC First Bank home loan are given below:

Charges	Amount
Processing Fees	Up to 3% of the loan amount
EMI Bounce Charges	₹500 per instance
Document Retrieval Charges	₹500 per document
Duplicate No Objection Certificate Issuance	₹500 per request
Cheque/Instrument Swap Charges	NIL
Repricing Fees	Up to 2% of the loan outstanding amount

Documents Required for a 40 Lakh IDFC First Bank Home Loan

To apply for an IDFC First Bank 40 lakh home loan, you must provide a valid identity, address proof, and income proof. Salaried individuals must submit recent salary slips, ITR or Form 16, and bank statements. Self-employed applicants must provide ITR, balance sheet or P&L statement, GST returns, and bank or credit card statements. Property documents like the draft sale deed, allotment/possession letter, and a no-objection certificate from the society are also required.

Eligibility Criteria for a 40 Lakh IDFC First Bank Home Loan

The eligibility criteria for a 40 lakh IDFC First Bank home loan are given below:

Criteria	Self-Employed Individuals	Salaried Individuals
Eligibility	Resident Indians only	Resident & Non-Resident Indians
Age Range	23-70 years	21-60 years
Experience Requirement	Minimum 4 years of business continuity	Minimum 3 years of experience
Minimum Annual Income	₹1.5 lakh	₹1 lakh
Loan Tenure	12 months – 300 months	12 months-360 months

Frequently Asked Questions (FAQs)

What is the EMI on a 40 lakh IDFC First Bank home loan over a period of 20 years?

The EMI that will need to be paid every month on a 40 lakh IDFC First Bank home loan over 20 years is ₹35,989.

Who is eligible for a 40 lakh IDFC First Bank Home Loan?

Self-employed individuals must be resident Indians aged 23-70 with 4 years of business continuity and ₹1.5 lakh annual income; salaried individuals must be 21-60 with 3 years of experience and ₹1 lakh annual income.

What is the monthly interest rate on a 40 lakh IDFC First Bank home loan?

The minimum monthly interest rate on a 40 lakh IDFC First Bank home loan is approximately 0.73%.

Quick Links

Loan Offers By Idfc First Bank's

Home Loan by Private Bank

Home Loan by Nationalized Bank

Home Loan Calculators

Idfc First Bank Calculators