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IndusInd Bank is one of India's most popular private banks, with a huge customer base. The bank provides various credit facilities to its customers, including home loans. The 85 Lakh home loan from IndusInd Bank is an attractive offering with competitive interest rates and other features. The quantum amount attracts customers planning to avail themselves of a higher amount for buying or building houses.
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85 Lakh Home Loan IndusInd Bank – Highlights
IndusInd Bank offers comprehensive home loan solutions with various attractive features. Here are the key highlights of the 85 Lakh Home Loan IndusInd Bank:
Feature | Details |
LTV Ratio | 75% to 90% |
Maximum Loan Tenure | Up to 30 years |
Interest Rate | Rates starting at 8.35% p.a. |
Processing Fees | Up to 1% of loan amount |
85 Lakh Home Loan EMI for 5 years IndusInd Bank
For a tenure of 5 years at an interest rate of 8.35% per annum, the EMI calculation is as follows:
Tenure | Monthly EMI | Total Amount Payable |
5 Years | 1,73,654 | 1,04,19,240 |
85 Lakh Home Loan EMI for 10 years IndusInd Bank
For a tenure of 10 years at an interest rate of 8.35% per annum, here are the EMI calculations:
Tenure | Monthly EMI | Total Amount Payable |
10 Years | 1,04,706 | 1,25,64,720 |
85 Lakh Home Loan EMI for 15 years IndusInd Bank
Here are the details of EMI payable for a tenure of 15 years at an interest rate of 8.35% per annum:
Tenure | Monthly EMI | Total Amount Payable |
15 Years | 83,550 | 1,50,39,000 |
85 Lakh Home Loan EMI for 20 years IndusInd Bank
Following are the EMI payable for a tenure of 20 years at an interest rate of 8.35% per annum:
Tenure | Monthly EMI | Total Amount Payable |
20 Years | 73,182 | 1,75,63,280 |
85 Lakh Home Loan EMI for 25 years IndusInd Bank
Here is how much you pay as EMI for a 25-year tenure with an interest rate of 8.35% per annum:
Tenure | Monthly EMI | Total Amount Payable |
25 Years | 67,713 | 2,03,13,760 |
85 Lakh IndusInd Bank Home Loan – Fees and Charges
The fees and charges associated with the 85 Lakh IndusInd Bank home loan are as follows:
Fee Type | Amount |
Processing Fees | 1% of the loan amount or ₹10,000, whichever is higher |
Prepayment Charges | Nil |
Late Payment Penalty | 2% per month on overdue amount |
85 Lakh IndusInd Bank Home Loan – Documents Required
The documents required for the 85 Lakh IndusInd Bank home loan application include:
- Identity Proof
- Address Proof
- Income Proof (Salary Slip/IT Returns)
- Bank Statements (Last 6 months)
- Property Documents
85 Lakh IndusInd Bank Home Loan – Eligibility Criteria
The eligibility criteria for the 85 Lakh IndusInd Bank home loan include:
- Minimum Age: 21 years
- Maximum Age: 65 years at loan maturity
- Stable source of income
- Good credit score
Frequently Asked Questions (FAQs)
What is the EMI for an 85-Lakh Home Loan for 20 years at IndusInd Bank?
The EMI for an ₹85 Lakh home loan for 20 years at an interest rate of 8.35% per annum is ₹73,182.
Who is eligible for an 85 Lakh Home loan in IndusInd Bank?
Individuals aged between 21 and 65 years, with a stable source of income and a good credit score, are eligible for an ₹85 Lakh home loan in IndusInd Bank.
What is the monthly interest rate of an 85 Lakh home loan in IndusInd Bank?
The monthly interest rate for an ₹85 Lakh home loan in IndusInd Bank is 0.696% (8.35% per annum).
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