Indian Bank Home Loan for Self Employed

Indian Bank offers a comprehensive home loan solution for self-employed individuals who aspire to own a home. Recognising the unique financial situations of self-employed professionals and business owners, Indian Bank provides flexible repayment options and competitive interest rates, making home ownership attainable. The application process is simple, with minimal documentation required, and loan amounts can be substantial based on income and repayment capacity. With Indian Bank's Home Loan for Self-Employed, individuals can invest in their future by purchasing, constructing, or renovating a property. The bank's dedicated support team ensures a seamless and transparent process, guiding customers every step of the way. Whether it's a first home or an investment property, Indian Bank's offering caters to the ever-changing needs of self-employed borrowers.

Indian Bank Home Loan for Self-Employed – Highlights

Listen below are the key parameters of the Indian Bank Home Loan for the self-employed:

Indian Bank Home Loan for Self-Employed – Fees and Charges

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

Indian Bank Home Loan for Self-Employed – Documents Required

For self-employed individuals applying for a home loan with the Indian Bank, the following documents are required to process the application:

For Self-employed

• Proof of identity
• Residential address proof
• Passport size photograph
• Age proof
• The last 6 months’ bank statements
• Business details
• Profit and loss account statements with computation of income plus balance sheet
• Latest Income Tax Returns
• Property documents

Indian Bank Home Loan for Self-Employed – Eligibility Criteria

For self-employed individuals seeking a home loan from Indian Bank, the eligibility criteria include:

• Applicants must have 3-5 years of business experience, varying based on business nature and bank policy, to demonstrate stability and income reliability.
• In the case of Businessmen, Professional and Self-employed minimum experience of 3 years is mandatory.
• A good credit score is important for loan approval.
  
• Loans will be considered only based on NTHP criteria.
  
• The property financed under the Home Loan should be insured at the Borrower’s cost, and the policy must be renewed every year without any time gap.