85 Lakh Indian Bank Home Loan

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Purchasing a dream home often comes with a large financial commitment. Many homebuyers turn to banks for housing loans to manage the costs. Indian Bank's 85 lakhs home loan can be ideal for such context, as it offers various home loan options to suit different customer needs. The loan is primarily recognised for its lower interest rates, nominal processing fees, moderate eligibility criteria, and quick fund disbursement, making it a more borrower-friendly credit option. To help you make a more informed decision, we detail the expected 85 lakh home loan EMI from Indian Bank, applicable interest rates, available loan tenure, and more. Let’s scroll down to learn more.

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Table of Content

1. 85 Lakh Home Loan Indian Bank Highlights

2. 85 Lakh Home Loan EMI for 5 Years Indian Bank

3. 85 Lakh Home Loan EMI for 10 Years Indian Bank

4. 85 Lakh Home Loan EMI for 15 Years Indian Bank

5. 85 Lakh Home Loan EMI for 20 Years Indian Bank

6. 85 Lakh Home Loan EMI for 25 Years Indian Bank

7. 85 Lakh Indian Bank Home Loan Fees and Charges

8. 85 Lakh Indian Bank Home Loan Documents Required

9. 85 Lakh Indian 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.

85 Lakh Home Loan Indian Bank – Highlights

The Indian Bank’s home loan interest rate for 85 lakhs and other key features are as follows:

Interest Rates	8.40% to 9.80% per annum
Loan-To-Value (LTV) Ratio	80% of the property price
Loan Tenure	Up to 30 years
Eligibility	Salaried, self-employed, or pensioners

85 Lakh Home Loan EMI for 5 Years Indian Bank

Check out the 85 lakhs home loan EMI in Indian Bank with a tenure of 5 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakh	8.40% p.a.	5 years	₹1,73,981	₹19,38,860	₹1,04,38,860

85 Lakh Home Loan EMI for 10 Years Indian Bank

Have a close look at the 85 lakhs home loan EMI for 10 years from the Indian Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakh	8.40% p.a.	10 years	₹1,04,934	₹40,92,080	₹1,25,92,080

85 Lakh Home Loan EMI for 15 Years Indian Bank

The Indian Bank’s home loan of 85 lakhs EMI with a tenure of 15 years is given below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakh	8.40% p.a.	15 years	₹83,205	₹64,76,900	₹1,49,76,900

85 Lakh Home Loan EMI for 20 Years Indian Bank

Following are the 85 lakhs home loan EMI for 20 years from the Indian Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakh	8.40% p.a.	20 years	₹73,228	₹90,74,720	₹1,75,74,720

85 Lakh Home Loan EMI for 25 Years Indian Bank

Here are the 85 lakhs home loan EMI in the Indian Bank for a tenure of 25 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakh	8.40% p.a.	25 years	₹67,872	₹1,18,61,600	₹2,03,61,600

85 Lakh Indian Bank Home Loan – Fees and Charges

Beyond the Indian Bank’s home loan interest rate of 85 lakhs, there are certain fees and charges you should know:

Fee/Charge	Amount
Processing Fee	Nil
Prepayment Charges	Nil
Late Payment Panality	Applicable as per bank policy
Stamp Duty & Other Statutory Charges	As per actuals

85 Lakh Indian Bank Home Loan – Documents Required

Following are the necessary documents to apply for an Indian Bank‘s 85 lakhs home loan:

KYC Documents	Passport, Aadhaar card, PAN card, Voter ID, etc.
Residential Documents	Utility Bills, Property Tax Receipt, Passport, Voter’s ID, etc.
Salary Documents	Last 3-month Salary Slips, 6-month Bank Statement, 1-year ITR, Form 16, etc.
Business Documents	Last 3-year ITR, Balance Sheets, and financial statements (for self-employed)
Additional Documents	Completed application form, processing fee cheque, and passport-sized photographs.

85 Lakh Indian Bank Home Loan – Eligibility Criteria

The 85 lakhs home loan eligibility criteria in Indian Bank are given below:

Age Limit	Applicants should be aged above 18 years old.
Employment Status	Applicants must be salaried individuals, self-employed professionals, or pensioners.
Work Experience	Applicants should require at least 2 years of work experience, while self-employed individuals need 3 years of business continuity.
Credit Score	Applicants should have a good credit score, preferably 700 or above
Nationality	Applicants should be Indian citizens, including NRIs.

Frequently Asked Questions (FAQs)

What is the EMI for an 85 lakhs home loan for 20 years in Indian Bank?

The estimated EMI for an 85 lakhs home loan over 20 years is ₹73,228 at an annual interest rate of 8.40%.

Who is eligible for an 85 lakhs home loan in Indian Bank?

To qualify for an 85 lakhs home loan from Indian Bank, you must be a salaried individual, self-employed professional, or pensioner.

What is the monthly interest rate of an 85 lakhs home loan in Indian Bank?

The monthly interest rate for an 85 lakh home loan from the Indian Bank starts at approximately 0.7%.

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