5 Crore IDFC First Bank Home Loan

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Apply for a 5 crore IDFC First Bank home loan with attractive features and benefits. With interest rates starting at just 8.85% per annum and a maximum loan tenure of up to 30 years, the EMI is very budget-friendly. A dream home aspirant can avail of up to 10 crores as a home loan. IDFC First Bank offers real-time tracking of their home loan on their website or mobile app, making the loan process completely transparent. You can easily switch your home loan to take advantage of competitive interest rates and enjoy better customer service. Continue reading further to understand how a 5 crore IDFC First Bank home loan can be an ideal solution for you.

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Table of Content

1. Highlights 5 Crore IDFC First Bank Housing Loan

2. 5 Crore IDFC First Bank Housing Loan 5 Years EMI

3. 5 Crore IDFC First Bank Housing Loan 10 Years EMI

4. 5 Crore IDFC First Bank Housing Loan 15 Years EMI

5. 5 Crore IDFC First Bank Housing Loan 20 Years EMI

6. 5 Crore IDFC First Bank Home Loan Fees & Charges

7. 5 Crore IDFC First Bank Home Loan Documents Required

8. Eligibility Criteria for a 5 Crore 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.

Highlights – 5 Crore IDFC First Bank Housing Loan

The table below mentions the key highlights of a 5 crore IDFC First Bank home loan:

Feature	Description
Application Process	Online, hassle-free, with minimal paperwork
Starting Interest Rate	8.85% p.a.
Maximum Loan Amount	Up to ₹10 crore
Top-up Loans	Available up to 100% of the outstanding balance
Maximum Tenure	Up to 30 years
Eligibility	Customised for both salaried and self-employed applicants

5 Crore IDFC First Bank Housing Loan 5 Years EMI

Over a tenure of 5 years and an interest rate of 10.50% per annum, the applicable EMI on a 5 crore IDFC First Bank home loan is calculated below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 5 crore	10.50%	5 years	₹10,74,695	₹1,44,81,701	₹6,44,81,701

5 Crore IDFC First Bank Housing Loan 10 Years EMI

The EMI for a 5 crore home loan from IDFC First Bank, at an interest rate of 10.50% per annum over a 10-year term, is detailed below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 5 crore	10.50%	10 years	₹6,74,675	₹3,09,60,998	₹8,09,60,998

5 Crore IDFC First Bank Housing Loan 15 Years EMI

Below is the EMI calculation for a 5 crore IDFC First Bank home loan, based on a 10.50% annual interest rate over 15 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 5 crore	10.50%	15 years	₹5,52,699	₹4,94,85,903	₹9,94,85,903

5 Crore IDFC First Bank Housing Loan 20 Years EMI

The table below shows the EMI for a 5 crore loan from IDFC First Bank, with a 10.50% interest rate per year and a 20-year repayment period.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 5 crore	10.50%	20 years	₹4,99,190	₹6,98,05,586	₹11,98,05,586

5 Crore IDFC First Bank Home Loan – Fees & Charges

The table below mentions the fees & charges that will be applicable on the 5 crore IDFC First Bank home loan:

Charge	Cost
Processing Fees	Up to 3% of the loan amount
EMI Bounce Fee	₹500 per failed payment
Document Retrieval	₹500 per physical copy
Cancellation & Rebooking	1% of the loan + interest until the request is made
Switch to Fixed Rate	0.1% of the loan or ₹10,000, whichever is less
Late Payment Penalty	2% per month of overdue EMI or ₹300, whichever is higher
Prepayment	NIL

5 Crore IDFC First Bank Home Loan – Documents Required

The necessary documents required for a 5 crore IDFC First Bank home loan are:

Document Type	Requirement
Identity Proof	Any government-issued ID that is valid and recognised
Address Proof	Document showing your current residential address
Income Proof (Salaried)	Last 2 months’ salary slips, recent ITR or Form 16, and bank statements for the previous 6 months
Income Proof (Self-employed)	Latest ITR, balance sheet or profit & loss statement, GST returns, and recent bank/credit card statements
Property Documents	Copy of the sale deed, title documents (if needed), allotment/possession letter, and a no-objection certificate from the society

Eligibility Criteria for a 5 Crore IDFC First Bank Home Loan

The eligibility criteria for a 5 crore IDFC First Bank are given below:

Eligibility:

Self-Employed:	Resident Indians
Salaried:	Resident and Non-Resident Indians

Age Range:

Self-Employed:	23 to 70 years
Salaried:	21 to 60 years

Work Experience:

Self-Employed:	At least 4 years in business
Salaried:	Minimum 3 years in a job

Minimum Income:

Self-Employed:	₹1.5 lakh per annum
Salaried:	₹1 lakh per annum

Frequently Asked Questions (FAQs)

What would be the monthly instalment on a 5 crore home loan from IDFC FIRST Bank with a repayment period of 20 years?

₹4,99,190 will be the applicable monthly instalment on a 5 crore IDFC First Bank housing loan if availed at an interest rate of 10.50% per annum for 20 years.

Who is eligible for a 5 crore home loan from IDFC FIRST Bank?

To qualify for a 5 crore home loan from IDFC FIRST Bank, salaried individuals (21-60 years) and self-employed individuals (23-70 years) must meet specific age, income, and experience criteria.

What is the monthly interest rate on a 5 crore IDFC FIRST Bank home loan?

The starting monthly interest rate on a 5 crore IDFC First Bank housing loan is approximately 0.73%.

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