info@logintoloans.com +91 8885545255

Logintoloans Assistant

Select your profession

Salaried Icon Salaried
Business Icon Business
CA CA
Doctor Doctor
NRI NRI
School School
College College
Student Student

Enter Pincode

Personal Details

Key Features Of IndusInd Bank Mortgage Loan

  • Loan Amount: Minimum: ₹5 lakh
    Maximum: Up to ₹25 crore, depending on eligibility and property value.
  • Loan Tenure: Up to 15 years for salaried individuals.
    Up to 10 years for self-employed individuals.
  • Interest Rates: Competitive rates starting from 8.50% per annum (subject to change based on credit profile and market conditions).
    Floating or fixed-rate options may be available.
  • Eligibility: Available for salaried, self-employed professionals, and non-professionals.
    Age criteria: Typically 21–65 years (at loan maturity).
    Property ownership in the name of the applicant or co-applicant.
    Good credit score (preferably 750+).
Credit Card Promotion
    • Property Types Accepted: Residential properties (self-occupied, rented, or vacant). Commercial properties (shops, offices, etc.). Industrial properties (in some cases).
    • Loan-to-Value (LTV) Ratio: Up to 50–65% of the property’s market value, depending on property type and borrower profile.
    • Processing Fees: Typically 0.5%–1% of the loan amount (plus GST), subject to a cap.
    • Repayment Options: Flexible EMI options. Prepayment and foreclosure facilities with minimal charges (as per RBI guidelines for floating-rate loans).
    • Quick Processing: Fast approval and disbursal, often within 7–10 working days, subject to complete documentation.
    • Top-Up Facility: Option to avail additional funding on an existing loan against property.
    • Balance Transfer: Facility to transfer existing mortgage loans from other banks for better rates or terms.
    • Usage Flexibility: Funds can be used for business expansion, medical emergencies, education, marriage, or other personal needs.
    • Documentation: Standard documents include identity proof, address proof, income proof (ITR/salary slips), property documents, and bank statements.
Who We Are

Benefits of IndusInd Bank Mortgage Loans

  • High Loan Amounts: Access substantial funding, from ₹5 lakh up to ₹25 crore, based on property value and eligibility, ideal for big-ticket expenses like business expansion or personal needs.
  • Competitive Interest Rates: Starting from 8.50% p.a., the rates are affordable, with options for floating or fixed rates to suit your financial planning.
  • Flexible Tenure: Repayment periods of up to 15 years for salaried individuals and 10 years for self-employed, allowing manageable EMIs.
  • Versatile Usage: Use the funds for diverse purposes, such as business growth, education, medical emergencies, weddings, or debt consolidation, with no end-use restrictions.
      • High Loan-to-Value Ratio: Borrow up to 50–65% of the property’s market value, maximizing the funds you can access.
      • Quick Processing: Fast approval and disbursal, typically within 7–10 working days, ensuring timely access to funds.
      • Variety of Properties Accepted: Pledge residential, commercial, or select industrial properties, offering flexibility in collateral options.
      • Balance Transfer Facility: Transfer existing loans from other banks to IndusInd for lower rates or better terms, potentially reducing your EMI burden.
      • Top-Up Loan Option: Avail additional funding on an existing loan for new financial requirements, subject to eligibility.
      • Flexible Repayment: Choose EMI plans that suit your cash flow, with minimal prepayment/foreclosure charges for floating-rate loans, as per RBI guidelines.
      • Transparent Process: Clear terms and conditions, with dedicated support for documentation and loan processing.
Check Best Gold Loan Offers

How to Apply for IndusInd Bank Mortgage Loans

  • 1. Check Eligibility:
    • Age: Typically 21-65 years (at loan maturity).
    • Occupation: Salaried individuals, self-employed professionals, or business owners.
    • Income: Stable income with a minimum threshold (varies by loan amount; e.g., ₹25,000/month for salaried or ₹3 lakh annual profit for self-employed, as a rough guide).
    • Credit Score: Preferably 700+ for better approval chances and rates.
    • Property: Ownership of a residential, commercial, or industrial property (must be legally clear and approved).
    • Loan-to-Value (LTV) Ratio: IDFC First Bank usually funds up to 50-60% of the property’s market value.
    • Eligibility can be checked using IDFC First Bank's website or mobile app, where they have a quick eligibility calculator for mortgage loans.
  • 2. Gather Required Documents:
    • Identity Proof: PAN card, Aadhaar card, passport, or voter ID.
    • Address Proof: Aadhaar card, utility bills, or rental agreement.
    • Income Proof:
      • Salaried: Last 3-6 months’ salary slips, Form 16, and bank statements.
      • Self-Employed: Last 2-3 years’ ITR with computation of income, profit/loss statement, balance sheet, and business bank statements.
    • Property Documents:
      • Title deed, sale agreement, or registered conveyance deed.
      • Encumbrance certificate (to confirm no legal dues).
      • Approved building plan and occupancy certificate (if applicable).
      • Property tax receipts and no-objection certificate (NOC) from society/authority.
    • Other Documents: Passport-sized photographs, signed loan application form, and credit report (if requested).
    • For PMAY Applicants: Income certificate, EWS/LIG/MIG proof, Aadhaar card.
  • 3. Choose Application Method:
    • Online Application:
      • Visit the IDFC First Bank website (www.idfcfirstbank.com) or download their mobile app (available on iOS/Android).
      • Navigate to the “Loans” section and select “Loan Against Property” or “Mortgage Loan.”
      • Fill out the online application form with details like name, contact info, income, loan amount, and property details.
      • Upload scanned copies of required documents (ensure files meet size/format requirements, e.g., PDF or JPEG).
      • Submit the form and note the application reference number for tracking.
    • Branch Visit:
      • Locate the nearest IDFC First Bank branch using their website’s branch locator.
      • Visit with your documents and request a mortgage loan application form.
      • A bank representative will guide you through the process, verify documents, and assist with submission.
    • Phone Banking:
      • Call IDFC First Bank’s customer care (e.g., 1800-419-4332, or check the latest number on their website).
      • Request assistance for a mortgage loan application.
      • The team may arrange a callback or schedule a visit from a loan officer to collect details/documents.
    • Loan Agents/Partners:
      • IDFC First Bank may collaborate with loan aggregators or DSAs (Direct Selling Agents). You can approach platforms like BankBazaar or contact local agents, but verify their authenticity before sharing details.
  • 4. Loan Assessment and Property Evaluation:
    • Application Review: The bank verifies your application, credit score, and income stability. This may take 2-5 days.
    • Property Valuation: IDFC First Bank sends a technical appraiser to assess the property’s market value and a legal team to verify title documents. This ensures the property is free of disputes and meets LTV criteria.
    • Loan Approval: If eligible, you’ll receive an approval letter or email with the sanctioned loan amount, interest rate, tenure, and EMI details. This step typically takes 7-10 days total, depending on document clarity.
  • 5. Accept Loan Offer and Sign Agreement:
    • Review the loan offer carefully (check interest rate, fees, prepayment terms, etc.).
    • Visit the branch or coordinate online to sign the loan agreement and related documents (e.g., mortgage deed).
    • Pay processing fees (usually 0.5-2% of the loan amount, plus GST) and any other charges (legal/technical evaluation fees).
  • 6. Loan Disbursal:
    • Once the agreement is signed and the property is mortgaged (registered with the bank), the loan amount is disbursed to your bank account.
    • Disbursal typically happens within 2-5 days after signing, so the entire process from application to disbursal may take 7-15 days.
    • You’ll receive a repayment schedule and EMI details .

Eligibility Criteria for IndusInd Bank Mortgage Loans

  • Applicant Type:
    • Salaried Individuals: Must be employed with a reputed organization (private, public sector, or MNC).
    • Self-Employed Professionals (SEP): Doctors, engineers, architects, chartered accountants, etc.
    • Self-Employed Non-Professionals (SENP): Business owners, traders, or proprietors.
    • Non-Resident Indians (NRIs): Eligible for specific home loan schemes (additional criteria like valid work visa apply).
  • Age:
    • Minimum Age: 21 years at the time of application.
    • Maximum Age at Loan Maturity:
      • Salaried: Up to 65 years (or retirement age, whichever is earlier).
      • Self-Employed: Up to 70 years (may vary based on loan tenure and bank discretion).
    • Co-applicants (if any) must also meet age criteria.
  • Income Requirements:
    • Salaried:
      • Minimum monthly income: ₹25,000 or higher (varies by loan amount and city tier—metro vs. non-metro).
      • Stable employment history, usually at least 1-2 years with the current employer or 3+ years overall.
    • Self-Employed:
      • Minimum annual income/profit: ₹3 lakh per year (post-tax, as per ITR), though higher income may be required for larger loans.
      • Business continuity: At least 3–5 years of stable operations with consistent revenue.
    • NRIs: Minimum monthly income equivalent to ₹30,000–₹50,000 (varies by country and loan scheme).
  • Credit Score:
    • A CIBIL score of 700 or above is preferred for better approval chances and competitive interest rates.
    • Applicants with scores between 650-700 may be considered but could face stricter scrutiny or higher rates.
    • No recent defaults, bankruptcies, or frequent loan rejections, as these negatively impact eligibility.
  • Property Ownership:
    • The applicant (or co-applicant) must own a property to offer as collateral.
    • Eligible Property Types: Residential (house, flat, or plot in approved areas), Commercial (office, shop, or other business premises), Select industrial properties (case-by-case basis).
    • The property must have a clear and marketable title, free from legal disputes or encumbrances.
    • Property should meet the bank’s technical and legal standards (e.g., approved building plan, occupancy certificate if applicable).
  • Loan-to-Value (LTV) Ratio:
    • IDFC First Bank typically finances 50-60% of the property’s market value for mortgage loans (e.g., a ₹1 crore property might secure a ₹50-60 lakh loan).
    • Higher LTV (up to 65-70%) may be possible for prime properties or applicants with excellent credit profiles, subject to bank discretion.
    • The property’s value is determined by a bank-appointed valuer during the loan process.
  • Nationality and Residency:
    • Applicants must be Indian residents. Non-Resident Indians (NRIs) may be eligible for specific mortgage loan products, but this is less common and subject to stricter conditions (e.g., power of attorney for property management).
    • Proof of identity and address (e.g., PAN, Aadhaar, passport) is mandatory.
  • Co-Applicant Norms:
    • Adding a co-applicant (spouse, parent, or sibling) may be required or beneficial to improve eligibility, especially if the primary applicant’s income is insufficient.
    • Co-applicant must also meet age, income, and credit score criteria.
    • The property can be co-owned, but all owners typically need to be co-applicants.
  • Repayment Capacity:
    • The bank assesses your Debt-to-Income (DTI) ratio to ensure EMIs don’t exceed 50-60% of your monthly income.
    • Existing loans or liabilities (e.g., car loans, credit card dues) are factored in, and lower obligations improve approval chances.
    • For salaried applicants, net take-home pay after EMI deductions should meet minimum thresholds (e.g., ₹10,000-15,000/month).
  • Documentation Readiness:
    • Ability to provide complete and accurate documents is crucial for eligibility:
    • Identity/Address Proof: PAN, Aadhaar, voter ID, etc.
    • Income Proof: Salary slips, Form 16 (salaried); ITR, profit/loss statement (self-employed).
    • Property Documents: Title deed, encumbrance certificate, tax receipts, approved plans.
Check Best Gold Loan Offers

Documents Required for IndusInd Bank Mortgage Loans

  • Application Form:
    - Duly filled and signed IBHFL loan application form (downloadable from indiabullshomeloans.com or available at branches).
    - 2-3 passport-size photographs of the applicant(s) and co-applicant(s).
  • Identity Proof (Any one, self-attested copy):
    - PAN Card (mandatory for credit processing).
    - Aadhaar Card.
    - Voter ID.
    - Passport.
    - Driving License.
  • Address Proof (Any one, self-attested copy):
    - Aadhaar Card.
    - Utility bill (electricity, water, gas) not older than 3 months.
    - Passport.
    - Voter ID.
    - Rental agreement or registered lease deed.
  • Income Proof:
    For Salaried Individuals:
    - Latest 3-6 months’ salary slips.
    - Form 16 or ITR for the last 2 years.
    - Bank statement (salary account) for the last 6 months.
    - Appointment letter or employer certificate (if requested).
    For Self-Employed Individuals:
    - Income Tax Returns (ITR) with computation of income for the last 2-3 years.
    - Balance sheet and profit & loss account (certified by a CA) for 2-3 years.
    - Bank statement (business/personal account) for the last 6-12 months.
    - Business proof: GST registration, shop act license, partnership deed, or company incorporation certificate.
  • Property Documents:
    - Sale agreement or agreement to sale.
    - Title deed (chain of ownership documents for 13-30 years, as applicable).
    - Approved building plan and layout from local authorities.
    - No Objection Certificate (NOC) from builder, society, or development authority.
    - Encumbrance certificate (showing no legal dues).
    - Occupancy certificate or completion certificate (for ready properties).
    - Property tax receipts or index-II copy.
    - For LAP: Property valuation report and proof of ownership.
    - For PMAY: Property details meeting carpet area norms (e.g., 90 sq.m for MIG-I).
  • Other Documents:
    - Processing fee payment proof (0.5%-2% of loan amount, non-refundable) via cheque, demand draft, or online transaction.
    - Loan statement or repayment track record (for balance transfer cases).
    - Post-dated cheques or ECS/NACH mandate for EMI payments.
    - For co-applicants: Identity, address, and income proof (if contributing to repayment).
  • NRI-Specific Documents (if applicable):
    - Copy of valid passport and visa/work permit.
    - Employment contract or salary certificate (attested by employer/embassy).
    - NRE/NRO bank statement for 6-12 months.
    - Power of Attorney (if a local representative handles the process).
    - Credit report from the country of residence (if required).
  • Scheme-Specific Documents:
    PMAY (Pradhan Mantri Awas Yojana):
    - Income certificate (e.g., ₹6 lakh/year for EWS/LIG, ₹18 lakh for MIG-II).
    - Aadhaar-linked declaration of no pucca house ownership.

Factors for IndusInd Bank Mortgage Loans

  • Credit Score:
    - A credit score of 650+ (CIBIL or equivalent) is preferred for higher approval chances and lower interest rates (starting ~8.75% p.a.).
    - Lower scores may lead to higher rates, stricter terms, or rejection, as they indicate repayment risk.
    - Impact: A higher credit score results in better loan terms, lower rates, and more favorable approval conditions.
  • Income and Repayment Capacity:
    - Salaried Applicants: Stable income (minimum ~₹25,000/month, varies by city) with 2-3 years of employment. EMI should not exceed 40-50% of net monthly income.
    - Self-Employed Applicants: Consistent business income (~₹3-5 lakh/year) for 2-3 years, verified via ITRs and financials.
    - Impact: Higher income supports larger loans, longer tenures, and better terms.
  • Loan-to-Value (LTV) Ratio:
    - Home Loans: Up to 90% of property value for loans ≤₹30 lakh, 80% for ₹30-75 lakh, 75% for >₹75 lakh.
    - Loan Against Property (LAP): Up to 50-65% of market value, depending on property type.
    - Impact: A lower LTV (higher down payment) reduces lender risk, improving approval odds and rates.
  • Property Characteristics:
    - The property must have clear title, approved plans, and no legal disputes.
    - Eligible properties: Residential (flats, houses), commercial (for LAP), or under-construction projects by reputed developers.
    - Property valuation is determined by IBHFL’s empaneled experts, which influences the loan amount.
    - Location, market value, and resale potential play a key role in the approval process.
    - Impact: A property with a clear title and market value improves eligibility and loan approval.
  • Applicant Profile:
    - Age: 21-60 years (salaried) or up to 65 years (self-employed) at loan maturity. Younger applicants may secure longer tenures (up to 30 years for home loans).
    - Employment/Business Stability: 2-3 years of continuous job or business ensures repayment reliability.
    - Co-Applicant: Adding a spouse or family member with income boosts eligibility and loan amount.
    - NRI Applicants: Overseas income, work permit, and repatriation ability are assessed.
    - Impact: A stable applicant profile with a co-applicant can result in better loan terms and larger loan amounts.
  • Loan Amount and Tenure:
    - Home Loans: ₹2 lakh to ₹3 crore (or higher), based on income and property value.
    - LAP: Up to ₹10 crore, tied to property valuation.
    - Tenure: Up to 30 years (home loans, salaried), 20 years (self-employed), or 15 years (LAP).
    - Impact: Larger loan amounts or longer tenures require stronger financials and a lower debt-to-income ratio for better approval chances.
  • Interest Rate Type:
    - Floating Rate: Linked to IBHFL’s benchmark or repo rate (~8.75% p.a. onward). Fluctuates with market conditions, affecting EMI or tenure.
    - Fixed Rate: Higher rates, stable EMIs, but shorter tenure options.
    - Impact: The choice between floating and fixed rates affects the overall loan cost and repayment planning.

Frequently Asked Questions (FAQs)

What is a Loan Against Property (LAP) offered by IndusInd Bank?
A Loan Against Property is a secured loan where you pledge your residential, commercial, or select industrial property to borrow funds. IndusInd Bank offers LAP for purposes like business expansion, education, medical expenses, or personal needs, with loan amounts ranging from ₹5 lakh to ₹25 crore.
Who is eligible for an IndusInd Bank mortgage loan?
Eligible Applicants: Salaried individuals, self-employed professionals (e.g., doctors, CAs), and non-professionals (e.g., business owners).
Age: 21–65 years at loan maturity.
Income: Minimum ₹25,000–₹30,000 monthly (salaried) or consistent business income (self-employed).
What types of properties can be pledged?
Residential properties (self-occupied, rented, or vacant houses/flats).
Commercial properties (shops, offices).
Select industrial properties (subject to bank approval).
The property must have a clear title and meet the bank’s valuation criteria.
What is the loan amount and tenure offered?
Loan Amount: ₹5 lakh to ₹25 crore, up to 50–65% of the property’s market value.
Tenure: Up to 15 years for salaried individuals and 10 years for self-employed, depending on eligibility.
What are the interest rates for IndusInd Bank’s mortgage loan?
Interest rates start from 8.50% per annum (floating or fixed, subject to credit profile and market conditions).
Exact rates depend on factors like credit score, income, and property type. Contact the bank for personalized rates.
What are the documents required to apply?
Identity/Address Proof: PAN, Aadhaar, passport, or voter ID.
Income Proof:
Salaried: 3 months’ salary slips, 6 months’ bank statements, Form 16/ITR.
Self-Employed: 2–3 years’ ITR, profit/loss statement, bank statements.
Property Documents: Title deed, approved plan, tax receipts, encumbrance certificate.
Other: Application form, photographs, and business proof (for self-employed).
How long does it take to process the loan?
The loan is typically processed and disbursed within 7–10 working days, provided all documents are complete and the property passes legal/technical checks.
Can I use the loan for any purpose?
Yes, the funds can be used for various purposes, including business expansion, medical emergencies, education, weddings, or debt consolidation, with no end-use restrictions.
What are the processing fees and other charges?
Processing fees: 0.5%–1% of the loan amount (plus GST), subject to a cap.
Other Charges: Property valuation fees, legal verification fees, and prepayment/foreclosure charges (minimal for floating-rate loans as per RBI guidelines). Contact the bank for a detailed fee structure.
Can I prepay or foreclose the loan?
Yes, prepayment and foreclosure are allowed.
Floating-Rate Loans: Usually no charges (per RBI guidelines).
Fixed-Rate Loans: May incur nominal charges. Check with the bank for specific terms.

List of Mortgage Loans by IndusInd Bank

  • Loan Against Residential Property
  • Loan Against Commercial Property
  • Loan Against Industrial Property (Select Cases)
  • Balance Transfer Loan Against Property
  • Top-Up Loan Against Property