Indian Bank Home Loan for Government Employees

Indian Bank is one of the major banks offering personalised loan schemes for the government's employees. Indian Bank Home Loan for Government Employees comes under multiple schemes designed for government employees searching for a convenient home loan. The maximum loan tenure is 30 years, and interest rates start at 8.40% p.a. The maximum loan amount one can obtain will depend on age, income, etc. A variety of repayment options and the advantage of a moratorium period, if necessary, make Indian Bank Home Loan a viable option for Government Employees.

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Written By
Hepson Franklin
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
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.

Indian Bank Home Loan for Government Employees – Highlights 

Below listed are the key parameters of the Indian Bank Home Loan for Government Employees

Feature Description
Loan Purpose
  • Purchase a new house.
  • Purchase a plot and construct a new house
  • Renovation of existing house
  • Take over home loans from other banks or housing finance institutions.
Loan Amount Variable as per income, age, etc.
Interest Rates 8.40% p.a. to 10.30% p.a.
Repayment Tenure 30 Years

Indian Bank Home Loan for Government Employees – Fees and Charges 

Let’s have a look at the Fees and Charges applicable to the Indian Bank Home Loan for Government Employees

Processing Fee Nill
Prepayment Charges Nill
Late Payment Charges Yes

Indian Bank Home Loan for Government Employees – Documents Required 

Below are the documents needed to apply for the Indian Bank Home Loan for Government Employees

Identity Proof
  • Aadhaar card
  • Passport
  • Driving Licence
  • Govt., Defence ID cards, etc.
Address Proof
  • Aadhaar Card 
  • Election ID Card 
  • Telephone Bill 
  • Passport

(All officially valid documents by Govt of India will be valid)

Employment Proof
  • Last 6 month’s salary slip
  • Last 6 month’s bank statement 
  • Last 3 years Form16, ITR, ITAO
  • Previous and present employment details with proof covering 3 years

Indian Bank Home Loan for Government Employees – Eligibility Criteria 

Below are the eligibility criteria to qualify for applying for the Indian Bank Home Loan for Government Employees

  • The applicants must be salaried employees, Businessmen, Professionals, and Self-employed people. 
  • The applicants must be between 18 and 70 years old. 
  • The applicant must be an Indian citizen.

Frequently Asked Question (FAQs)

How much home loan a govt employee can take from Indian Bank?

The maximum loan amount from the Indian Bank for Government Employees can vary according to income, age, and other factors.

What does the Indian Bank provide the two home loan schemes to govt employees?

There are multiple schemes from the Indian Bank for government employees, including IB Home Loan, IB Home Loan Combo, IB Home Advantage, IB Home Enrich, etc.

What is the maximum age for government employees to repay the Indian Bank home loan?

The maximum repayment tenure of an Indian Bank Home Loan is up to 30 years

Who is eligible for an Indian Bank Home Loan for Government Employees?

Applicants eligible for the loan include salaried employees, businessmen, professionals, and self-employed individuals aged 18 to 70, who must also be Indian citizens.

Loan Offers By Indian Bank's

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