85 Lakh IDFC First Bank Home Loan

Buying a home is one of the most stressful things you'll do. It can also be challenging due to the higher property value, and sadly, it may not become any easier over time. The IDFC First Bank’s 85 lakhs home loan can help you accomplish your long-waited dream of homeownership. It ideally features lower interest rates, personalised repayment plans, simple documentation, a transparent process, and quick fund disbursement. Though it ensures a stress-free borrowing experience, it is vital to understand the 85 lakh home loan EMI in IDFC First Bank. This empowers you to decide more confidently and plan your finances accordingly. Continue to read on for more detailed insight.

85 Lakh Home Loan IDFC First Bank – Highlights

Following are the IDFC First Bank’s home loan interest rates for 85 lakhs and other key features:

85 Lakh Home Loan EMI for 5 Years IDFC First Bank 

The 85 lakh home loan EMI in IDFC First Bank with a tenure of 5 years is as follows:

85 Lakh Home Loan EMI for 10 Years IDFC First Bank

85 lakhs home loan EMI for 10 years with the IDFC First Bank is detailed below:

85 Lakh Home Loan EMI for 15 Years IDFC First Bank

The table below depicts the IDFC First Bank’s home loan for 85 lakhs EMI with a tenure of 15 years:

85 Lakh Home Loan EMI for 20 Years IDFC First Bank

85 lakhs home loan EMI for 20 years with the IDFC First Bank is provided below:

85 Lakh Home Loan EMI for 25 Years IDFC First Bank 

The 85 lakh home loan EMI in IDFC First Bank for a tenure of 25 years is given below:

85 Lakh IDFC First Bank Home Loan – Fees and Charges 

To apply for IDFC First Bank’s home loan, it is important to consider the following fees:

• Processing Fee: Less than or equal to 3% of the loan amount
• Prepayment Charges: There will be no early payment charges
• Late Payment Charges: 2% per month on the default EMI

85 Lakh IDFC First Bank Home Loan – Documents Required

Here are the required documents for the IDFC First Bank’s 85 lakh home loan:

85 Lakh IDFC First Bank Home Loan – Eligibility Criteria 

Applicants must be either salaried or self-employed individuals to be eligible for an ₹85 lakh home loan from IDFC First Bank. Salaried employees should be between 21 and 60 years old, while self-employed individuals must fall within the age range of 23 to 70 years. A minimum of 3 years of work experience is required for salaried employees, whereas self-employed individuals need 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.