35 Lakh Indian Bank Home Loan

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Indian Bank provides a home loan of 35 lakh, offering an interest rate starting at just 8.40% per annum. This loan is ideal for purchasing a new house or flat, constructing a home, or renovating an existing property. With a repayment period of up to 30 years, it offers flexible and affordable repayment options, including Equated Monthly Instalments (EMI) and Progressive Monthly Instalments (PMI). The loan is available to salaried individuals, businessmen, self-employed professionals, and pensioners. The property bought or built with the loan will be secured as collateral, and you can cover the loan under an insurance scheme for added protection. The application process is straightforward, and the loan ensures financial support for your home needs.

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Table of Content

1. Key Highlights 35 Lakh Indian Bank Home Loan

2. 5 Years EMI 35 Lakh Indian Bank Home Loan

3. 10 Years EMI 35 Lakh Indian Bank Home Loan

4. 15 Years EMI 35 Lakh Indian Bank Home Loan

5. 20 Years EMI 35 Lakh Indian Bank Home Loan

6. 25 Years EMI 35 Lakh Indian Bank Home Loan

7. Indian Bank 35 Lakh Home Loan Fees & Charges

8. Important Documents for a 35 Lakh Indian Bank Home Loan

9. Eligibility Criteria 35 Lakh Indian Bank Home Loan

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Written By
Satyam Sachdeva
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
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.

Key Highlights – 35 Lakh Indian Bank Home Loan

Indian Bank provides affordable home loan rates and attractive options to cater to different borrower needs, making it a reliable choice for home buyers:

Feature Details
Loan Amount ₹35 lakh
Interest Rate Starting from 8.40% per annum
Loan Purpose Purchase, construction, and renovation of house/flat
Repayment Period Up to 30 years
Eligible Applicants Salaried individuals, businessmen, professionals, pensioners
Repayment Options EMI (Equated Monthly Instalment), PMI (Progressive Monthly Instalment)
Security Mortgage of the property
Insurance Option Group Mortgage Redemption Assurance Scheme (GMRA)
Application Process Simple and straightforward

5 Years EMI – 35 Lakh Indian Bank Home Loan

The table below displays the EMI calculation for a ₹35 lakh home loan from Indian Bank over 5 years, using an 8.85% annual interest rate:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
Rs 35 lakhs 8.85% 5 years ₹72,400 ₹8,43,983 ₹43,43,983

10 Years EMI – 35 Lakh Indian Bank Home Loan

The table provides the EMI details for a ₹35 lakh home loan from the Indian Bank, calculated over 10 years at an interest rate of 8.85% per annum:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
Rs 35 lakhs 8.85% 10 years ₹44,053 ₹17,86,347 ₹52,86,347

15 Years EMI – 35 Lakh Indian Bank Home Loan

Below is the table showing the EMI for a ₹35 lakh home loan from Indian Bank, based on an 8.85% annual interest rate over 15 years:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
Rs 35 lakhs 8.85% 15 years ₹35,188 ₹28,33,786 ₹63,33,786

20 Years EMI – 35 Lakh Indian Bank Home Loan

The following table shows the EMI for a ₹35 lakh Indian Bank home loan with a 20-year term and an interest rate of 8.85% per year:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
Rs 35 lakhs 8.85% 20 years ₹31,154 ₹39,76,853 ₹74,76,853

25 Years EMI – 35 Lakh Indian Bank Home Loan

The EMI for a ₹35 lakh Indian Bank home loan over 25 years at an 8.85% annual interest rate is shown in the table below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
Rs 35 lakhs 8.85% 25 years ₹29,013 ₹52,03,960 ₹87,03,960

Indian Bank 35 Lakh Home Loan – Fees & Charges

Here’s a brief detail of the fees you may come across when applying for a ₹35 lakh home loan from Indian Bank:

Loan Type Processing Fee Special Note
Home Loan for Residents No Fees Enjoy zero charges for residents!
Home Loan for NRIs No Fees Hassle-free loan process for NRIs with no fees.
Plot Loan for NRIs No Fees Build your dream home abroad, with no extra cost.
Home Loan (Commercial Real Estate) No Fees No processing charges for business property loans.
Home Improvement Loan No Fees Renovate your home with zero processing fees.
Home Loan Plus No Fees Add more to your loan without paying extra fees.
Home Enrichment Loan No Fees Upgrade your home’s features with no fees.
Plot Loan for Residents No Fees Secure a plot for your home with no processing charges.
Loan for Repair and Renovation No Fees Fix or renovate your home without any fees.
Home Loan for Corporate Entities 0.25% of the loan amount (Min ₹25,000, Max ₹5 lakhs) Affordable fees for corporate real estate loans.

Important Documents for a 35 Lakh Indian Bank Home Loan

To ensure a hassle-free Indian Bank 35 lakh home loan application process, make sure you have the following documents available:

  • Include valid ID proof and proof of your current address.
  • Provide documents that verify your income, such as salary slips or bank statements.
  • Submit Income Tax Returns (ITR) for additional financial proof.
  • If self-employed, include business registration or ownership papers.
  • Ensure all relevant property documents are ready for a smooth application experience.

Eligibility Criteria – 35 Lakh Indian Bank Home Loan

To be eligible for a ₹35 lakh home loan from Indian Bank, a person must fulfil the following criteria:

Eligibility Criteria Details Special Notes
Minimum Age Must be at least 18 years old Age requirement to apply for the loan.
Work Experience for Salaried – Provide the last 3 months’ salary slip

– At least 2 years of experience, especially with MNCs or reputed companies

 Ensure your employment history is strong.
Work Experience for Self-Employed – Minimum 3 years of experience required Applies to businessmen and self-employed individuals.
Pensioners Eligible if they have sufficient income to repay Pensioners can also apply if they meet the criteria.
Income Requirement (₹15 lakhs or less) Take-home pay should be at least 40% of gross income Ensures applicants can comfortably handle repayments.
Income Requirement (Above ₹15 lakhs) Net take-home pay (NTHP) must be at least ₹50,000/month Higher-income applicants must meet this NTHP threshold.

Frequently Asked Questions (FAQs)

What will be the EMI for a ₹35 lakh home loan from Indian Bank if the repayment term is set to 20 years?

For a 35 lakh home loan from Indian Bank with a 20-year tenure at an interest rate of 8.85% per annum, the EMI would amount to ₹31,154 per month.

Who can apply for a ₹35 lakh home loan from Indian Bank?

Applicants must be 18 or older to qualify for a 35 lakh Indian Bank home loan. Eligibility requires either 3 months of salary slips for salaried individuals or 3 years of business experience for the self-employed.

What is the monthly interest rate on a ₹35 lakh home loan from Indian Bank?

Indian Bank offers a home loan with a monthly interest rate of 0.70%.

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