Indian Bank Home Loan for Salaried Person

Achieve your goal of owning a home with Indian Bank's Home Loan, designed specifically for salaried individuals! Indian Bank understands the financial requirements of employees who receive a fixed salary and offers competitive interest rates, flexible repayment options (up to 30 years!), and high loan-to-value ratios. They provide home loans to residents and Non-Resident Indians (NRIs) at attractive rates starting from 8.40% annually. The loan tenure can be extended up to 30 years. The processing fee applicable is 0.23% of the loan amount. Indian Bank prioritises a seamless home-buying experience for salaried applicants by simplifying the documentation process and providing expert guidance at every stage. Whether you want to purchase, build, or renovate a home, Indian Bank's home loan solutions for salaried individuals are known for their customer-oriented approach, ensuring that your dream of owning a home becomes a reality.

Indian Bank Home Loan for Salaried Person – Highlights

Listed below are the key parameters of the Indian Bank Home Loan for salaried individuals:

Indian Bank Home Loan for Salaried Person – Fees and Charges

Let’s have a look at the Fees and Charges applicable to the Indian Bank Home Loan for salaried persons:

Indian Bank Home Loan for Salaried Person – Documents Required

For salaried individuals applying for a home loan from Indian Bank, the required documents include:

• A fully completed and signed home loan application form.
  
• Recent passport-size photographs of the applicant and any co-applicants.
  
• Government-issued identification, such as a PAN Card, Aadhaar Card, Voter ID, Passport, or Driving License.
  
• Recent utility bills, Aadhaar Card, Passport, or any other government-issued document that verifies the applicant’s current address.
  
• The latest 3 months’ salary slips show deductions.
  
• Form 16 and/or Income Tax Returns (ITR) for the last two years.
  
• Personal bank statements for the last 6 months to verify the salary credits and financial behaviour.
  
• Legal documents related to the purchased property, including the sales deed, agreement to sell, NOC from the society/ builder, possession letter, land and construction-related documents, and approved plan/layout.

Indian Bank Home Loan for Salaried Person – Eligibility Criteria

Below are the documents needed to apply for the Indian Bank Home Loan for a salaried person:

• Applicants should be within the age range of 18 to 60 years at the time of loan maturity.
• The applicant should be a permanent employee of a company or government organisation.
• The applicant must be an Indian citizen.
  
• A good credit score is important for loan approval.
  
• Regular employees of the Central Government / State Government / Public Sector Undertakings /Government or Government Educational Institutions with a salary statement from the existing employer for at least the previous three months.
• Regular employees of MNCs/ Reputed Companies (Externally rated as BBB or above) with salary statements from the existing employer for at least the previous 3 months, subject to the condition that they have a total experience of a minimum of 2 years.