Idfc First Bank Home Loan Interest Rate at 8.60% onwards
|INTEREST RATE||8.60% onwards|
|LOAN TENURE||30 Years|
|PROCESSING FEE||Upto 0.50% of loan amount|
|GUARANTOR REQUIRED||Please Contact Bank Branch|
|PRE CLOSURE CHARGES||Nil|
Calculate Idfc First Bank Home Loan EMI Calculate EMI Now
About Idfc First Bank
Idfc First Bank is a private sector bank in india. Idfc First Bank was founded on 2015. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Idfc First Bank which includes Idfc First Bank Official Website, Idfc First Bank ATMs accross the India, Idfc First Bank Branches accross the India, Idfc First Bank Contact Numbers, Idfc First Bank official EmailID, Idfc First Bank Headquarter and Idfc First Bank Headquarter Address. Find Idfc First Bank Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Other Products of Idfc First Bank:
|Home Loan||Personal Loan|
|Education Loan||Business Loan|
|Car Loan||Two Wheeler Loan|
|Gold Loan||FD Interest Rates|
|RD Interest Rates||Bank ATMs|
Why Idfc First Bank Home Loan?
- Idfc First Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Idfc First Bank offers timely assistance to the customers
Idfc First Bank Home Loan PurposeConstruction of house or flat for new dwelling units, purchase of residential plots, cost for existing dwelling units | repairs, extension of your existing home, transfer of an existing home loan from another financial institution
Idfc First Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Idfc First Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Idfc First Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Idfc First Bank Home Loan AmountLoan amount is subject to market value of the porperty and repayment capacity of the applicant, as per bank's assessment
Idfc First Bank Home Loan RepaymentMaximum period of 30 Years
SecurityRegistered Mortgage of house property/flat to be constructed | purchased.
In Case of Prepayment of Idfc First Bank Home Loan, will EMI change?
One can pre-pay Idfc First Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Idfc First Bank, Idfc First Bank SMS balance check number SMS banking, Idfc First Bank mobile banking, Idfc First Bank toll free number,Idfc First Bank toll free number 24*7, Idfc First Bank miss call number.
- MISSED CALL NUMBERS - 18002700720
- CUSTOMER CARE NUMBERS - 18602582000, 180010888
- CONTACT NUMBERS - 18602582000, 180010888
Idfc First Bank Contact Details
- BANK OFFICIAL WEBSITE - www.idfcfirstbank.com
- CONTACT NUMBERS - 18602582000, 180010888
- EMAIL ID - firstname.lastname@example.org
- MISSED CALL NO. - 18002700720
- CUSTOMER CARE NO. - 18602582000, 180010888
- TOTAL BRANCHES - 801
- HEADQUARTER - Mumbai
- BANK ADDRESS - Naman Chambers, C-32, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra
Idfc First Bank Home Loan FAQsHome Loan Document Required
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