45 Lakh IDFC First Bank Home Loan

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Homeownership is a long-awaited dream for many Indians. Bring life to this dream, IDFC First Bank offers a home loan of up to 45 lakh or more based on your repayment capacity. The loan ideally comes with competitive interest rates and flexible repayment options, making homeownership easier. However, you need to understand the aspects of this credit option, including the 45 lakh home loan EMI with IDFC First Bank, applicable interest rates, eligibility criteria, required documents, and other associated fees. This ultimately empowers you to make more informed decisions, facilitating a stress-free application process and repayment journey. For more detailed information, keep scrolling down. Hereunder, we present nearly everything you need to know about the IDFC First Bank 45 lakh home loan.

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Table of Content

1. 45 Lakh Home Loan IDFC First Bank Highlights

2. 45 Lakh Home Loan EMI for 5 Years IDFC First Bank

3. 45 Lakh Home Loan EMI for 10 Years IDFC First Bank

4. 45 Lakh Home Loan EMI for 15 Years IDFC First Bank

5. 45 Lakh Home Loan EMI for 20 Years IDFC First Bank

6. 45 Lakh Home Loan EMI for 25 Years IDFC First Bank

7. 45 Lakh IDFC First Bank Home Loan Fees and Charges

8. 45 Lakh IDFC First Bank Home Loan Documents Required

9. 45 Lakh IDFC First Bank Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

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.

45 Lakh Home Loan IDFC First Bank – Highlights

Here are the IDFC First Bank home loan interest rate for 45 lakhs and other key features:

Interest Rates	8.85% per annum onwards
Loan-to-Value (LTV) Ratio	80% of the property price
Loan Tenure	1 to 30 years
Eligibility	Salaried and self-employed individuals

45 Lakh Home Loan EMI for 5 Years IDFC First Bank

Here is the interest rate for a 45 lakh home loan EMI in IDFC First Bank with a tenure of 5 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹45 Lakh	8.85% p.a.	5 years	₹93,085	₹10,85,100	₹55,85,100

45 Lakh Home Loan EMI for 10 Years IDFC First Bank

Following are the 45 lakh home loan EMI for 10 years from IDFC First Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹45 Lakh	8.85% p.a.	10 years	₹56,639	₹22,96,680	₹67,96,680

45 Lakh Home Loan EMI for 15 Years IDFC First Bank

Let’s examine the IDFC First Bank home loan 45 lakh EMI amount for a tenure of 15 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹45 Lakh	8.85% p.a.	15 years	₹45,241	₹36,43,380	₹81,43,380

45 Lakh Home Loan EMI for 20 Years IDFC First Bank

Here is the 45 lakh home loan EMI for 20 years from the IDFC First Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹45 Lakh	8.85% p.a.	20 years	₹40,055	₹51,13,200	₹96,13,200

45 Lakh Home Loan EMI for 25 Years IDFC First Bank

The table below details the interest rates for a 45 lakh home loan EMI in IDFC First Bank with a tenure of 25 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹45 Lakh	8.85% p.a.	25 years	₹37,303	₹66,90,900	₹1,11,90,900

45 Lakh IDFC First Bank Home Loan – Fees and Charges

Following are the pertinent fees and charges in addition to the IDFC First Bank home loan interest rate of 45 lakh:

Fee/Charge	Amount
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

45 Lakh IDFC First Bank Home Loan – Documents Required

Here are the required documents for the IDFC First Bank 45 lakh home loan:

Identity Proof	PAN card, Aadhaar card, Voter ID, Passport, or Driving License.
Address Proof	Utility bill, Aadhaar card, Driving License, Passport, or rental agreement.
Salary Proof	Past 2-month salary slip, 1-year ITR or Form 16, and 6-month bank statement
Business Proof	Latest 1-year ITR, balance sheet or P&L statement, GST return, 6-month bank statements or CC statements, etc.
Property Proof	Sale Deed, NOC from the society, Allotment/Possession letter, and other documents as per legal report.

45 Lakh IDFC First Bank Home Loan – Eligibility Criteria

The 45 lakh home loan eligibility in IDFC First Bank is given below:

Criteria	Salaries Employed	Self Employed
Age Limit	21 – 60 years old	23 – 70 years old
Residential Status	Resident & Non-Resident Indians	Resident of Indians only
Work Experience	3 years	4 years
Income Requirement	₹1 lakh per annum	₹1.5 lakh per annum

Frequently Asked Questions (FAQ)

What is the EMI for a 45 lakh home loan for 20 years in IDFC First Bank?

The expected EMI for a ₹45 lakh home loan over 20 years at IDFC First Bank, with an annual interest rate of 8.85%, is ₹40,055.

Who is eligible for a 45 lakh home loan in IDFC First Bank?

Both salaried and self-employed individuals are eligible for a 45 lakh home loan at IDFC First Bank.

What is the monthly interest rate of a 45 lakh home loan in IDFC First Bank?

The monthly interest rate for a 45 lakh home loan in IDFC First Bank starts at 0.74%.

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