20 Lakh Indian Bank Home Loan

Indian Bank’s ₹20 Lakh Home Loan is designed to make homeownership accessible. It is possible with flexible repayment terms of up to 30 years and attractive interest rates ranging from 8.40% to 9.80%. This loan type suits salaried employees, self-employed individuals, and pensioners. Also, it helps you finance your home's purchase, construction, or renovation. With minimal processing fees and easy eligibility criteria, it provides a convenient help to meet your housing needs.

₹20 Lakh Home Loan Indian Bank – Highlights

Here are Indian Bank’s home loan interest rates for ₹20 Lakhs, along with highlights:

₹20 Lakh Home Loan EMI for 5 Years Indian Bank 

Indian Bank’s housing loan EMI for ₹20 Lakhs is mentioned below in detail:

₹20 Lakh Home Loan EMI for 10 Years Indian Bank 

Here are the ₹20 Lakhs home loan EMI for 10 years from the Indian Bank:

₹20 Lakh Home Loan EMI for 15 Years Indian Bank

For an amount of ₹20 Lakhs, the EMI for 15 years is as follows:

₹20 Lakh Home Loan EMI for 20 Years Indian Bank

₹20 Lakh home loan EMI for 20 years from the Indian Bank is as follows:

₹20 Lakh Home Loan EMI for 25 Years Indian Bank 

Indian Bank’s home loan of ₹20 Lakhs EMI for 25 years is as follows:

₹20 Lakh Indian Bank Home Loan – Fees and Charges 

Here are the fees and charges for a ₹20 Lakh Indian Bank Home Loan:

• Processing Fee: Nil
• Margin: 10% for loans up to ₹30 Lakhs
• Insurance: Property to be insured at the borrower’s cost
• Security: Mortgage of the property purchased
• Prepayment Charges: Nil for floating-rate loans

₹20 Lakh Indian Bank Home Loan – Documents Required

Here are the documents required for a ₹20 Lakh Home Loan from Indian Bank:

₹20 Lakh Indian Bank Home Loan – Eligibility Criteria

The following are the criteria for  ₹20 Lakhs home loan eligibility at Indian Bank:

• Age: The applicant must be at least 18 years old at the time of application.
• Employment Status: Both salaried employees, self-employed individuals, businessmen, and pensioners are eligible.
• Income: The applicant’s net take-home income (NTHP) should be at least 40% of the gross annual income for incomes up to ₹15 lakhs or a minimum of ₹50,000 per month for incomes above ₹15 lakhs.
• Work Experience: Salaried individuals should have at least 2 years of work experience, while self-employed individuals must have at least 3 years of business or professional experience.
• Property: The property must be a residential house or flat for purchase, construction, or renovation.