Usually, like most other financial institutions while applying for an IDFC First Bank Home Loan you need to take the following steps given below: 

1. Submit the IDFC First Bank Home Loan online application form
2. Secondly, you need to submit a few important documents. These include KYC, Financial, and Property
3. The bank will then initiate the loan processing which shall also include legal and technical verification 
4.  Loan eligibility of the applicant is then determined by the bank, after which the bank will provide a sanction letter. It will usually include the details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. Finally, once you submit all the documents and request for a home loan disbursement, IDFC First Bank initiate the processing of the issuing your home loan disbursement cheque 

It is while applying for a IDFC First Bank Home Loan that you need to submit certain necessary documents given in table below:

The IDFC First Bank provides for you a Home Loan at very attractive interest rates. It also ensures that you need to submit minimum documentation to apply for a loan. Besides, IDFC First Bank provides a seamless and 100% hassle free ‘Digital’ loan processing.

Once you complete filling the IDFC First Bank Home Loan application form and submitting essential documents, it can take anywhere in between 2 to 5 working days to get IDFC First Bank sanction your home loan.

If you are looking to have an increased chance to apply and secure an IDFC First Bank Home Loan then, you need to have a CIBIL score of above 750 to prove your ‘Creditworthiness’ to this bank.

The IDFC First Bank provides a maximum and minimum home loan amount of Rs 1 lakh and Rs 10 crore pa respectively.

It is not compulsory that you have a co-applicant while applying for an IDFC Home Loan. Moreover, having one helps in significantly improving your loan eligibility thereby proving to your lender that you are ‘Creditworthy’ and chances to improve terms and conditions.

The regularity with which the rate of interest of your IDFC First Bank Home Loan will change during tenure will depend on the type of interest you choose. Therefore, if you select a floating interest rate then it will change regularly. In case of a fixed interest rate though there will be no change in your IDFC First Bank Home Loan interest rate.

Usually, when you possess your IT returns documents for three years it increases your chance of securing an IDFC First Bank Home loan. However, it is possible that you can get a home loan sanctioned by this bank despite not having them, provided you are seeking a small loan and you have a good CIBIL score.

Under special conditions you can get your IDFC First Bank Home loan disbursed after it is sanctioned in about one hour.

1. Types of IDFC Home Loans:

   Typically, there are two types of home loans that IDFC provides. They are as follows: 

   1. First Housing Loan:

      It is a home loan scheme provided by IDFC that enables an individual to buy/construct a home and renovate existing property. The maximum loan amount offered is up to Rs 5 Crore with tenure extending to a maximum of 30 years. 

   2. FASTTRACK Home Loan Balance Transfer:

      This is a housing loan scheme provided to give existing home loan borrowers of other banks an opportunity to transfer it to IDFC Home Loans at the lowest interest rates. In this program, a loan amount of about Rs 2 crore is available for a maximum tenure of up to 30 years. 

2. IDFC First Bank Exclusive Loan Account Statement:

   IDFC First Bank provides you with a facility that sends you ‘E-Statement’ after every deduction. Typically, the statement will be sent to your registered email and notification will be given via mail and SMS on registered mobile.  

   Usually, the email will be inclusive of all the details of your IDFC First Bank Home Loan. It will be delivered throughout the loan tenure of the borrower.