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Range of Interest Rate

9.10% Onwards

Processing Fee Range

Rs.3540 Onwards

Loan Amount

50 Lakh – 10 Crore

Range of Loan Tenure

5-30 years

 

Key Salient Features

  • No guarantor required
  • Zero Pre-closure and prepayment fees

 

Documentation

  • KYC– Aadhar Card and PAN Cardd
  • Financial– Bank statement, Salary slips, latest form 16
  • Property– Allotment Letter and Registered Sale Deed

 

Trivia

  • There are about 809 ICICI Bank Branches in India
  • It takes on a average 15 working days for loan approval

USP’s

Doorstep Service

Dedicated Relationship Manager

Minimum Documentation

Fastest Sanction Process

 

Fee and Charges Details

  • The processing fee charges is up to 3% of the loan amount and there is no foreclosure or pre-payment charges

Disclaimer

  • All intellectual property including trademarks, logos belong to the owner
Other Key Information:
Particulars Salaried Self-Employed
Age 21 to 60 years of 21 to 70 years
Prepayment Charges/Foreclosure For fixed interest rate 2% For fixed interest rate 2%

FAQs

How do you apply for a IDFC First Bank Home Loan?

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 
What is the list of documents required to be submitted while applying for a IDFC First Bank Home Loan?

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

 

KYC Documents

Aadhar Card, PAN Card
Voter’s ID, Driving License
Electricity Bill, Photo ID Cards issued by the State or Central Government
Application form duly filled with passport-size photos of applicants and co-applicants

KYC Documents

Salaried
  • The previous three months’ salary slips and
    the Latest Form-16
  • Latest 2 years Form 16
  • IT Returns for the last three years
Self-Employed/Professional
  • Business Profile of the Applicant
    Latest 3 years ITR with Computation of Income
  • Balance Sheet, Profit, and Loss Account, and respective schedules
  • GST Registration Certificate, GSTR-3B Returns of
    latest 1 Year, and GSTR-3B Returns of latest 1 Year
    Company Udhyam certificate

Property Documents

Registered Sale Deed, and Draft Sale deed agreement/document copies
Allotment Letter, NOC (No Objection Certificate) from Society/Builder
Receipts of payments made to the Real Estate developer
Why should you choose IDFC First Bank Home Loan?

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.

How long does it take to get a IDFC First Bank Home Loan sanctioned?

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.

What is the minimum CIBIL score required to secure a IDFC First Bank 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.

What is the maximum and minimum loan amount sanctioned by IDFC First Bank?

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

Is a co-applicant mandatory for an IDFC First Bank Home Loan?

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.

How frequently will my rate of interest change during the tenure of an IDFC First Bank Home loan?

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.

Am I eligible for an IDFC First Bank Home loan if I do not have my returns for three financial years?

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.

How soon can I get my IDFC First Bank Home loan disbursed after it is sanctioned?

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

Other information of IDFC First Bank Home Loan:
  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. 

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EMI Calculator

Loan Amount

Rate of Interest

%

Loan Tenure (Years)

Years

Monthly EMI

21,617

Principal Amount

25,000,000

Interest Amount

23,000,000

Total Amount Payble

47,000,000

Interest Amount

Principal Amount

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5/5

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I recommended their services to a friend of mine, and the services given were excellent. Very professional team, with polite and helpful approach. Highly recommended

Jayesh Shah

5/5

Hi, The new feature on Loan Bazaar Website, providing the facility to view the Home Loan Amortization Schedule is really wonderful. This will actually reduce paper wastage, telephone calls to be made and the waiting time for receiving the revert from Banker. It is quite an innovative move. Keep it up! Happy Diwali to one and all!

Shivam Sharma

5/5

Was struggling to get loan for my home from last 3 months, suddenly one day I found Loan Bazaar on google who is one of the most well known DSA for home loan. They offered me doorstep service and with the limited paper work, they santioned my loan within 7 days. Thanks to Loan Bazaar.

Aruna Kate

5/5

I work for an MNC financial services company in the customer service department and I must say that Loan Bazaar has one of the most user friendly website and EMI Calculator. Well done! In an endeavour to automate, My first visit to the website has been a pleasurable one!

Yash Sharma

5/5

Loan Bazaar Team’s commitment shown on the job are enthusing. I had opted for a switch over on HL recently and been able to get best possible attention and faster clearance over my request. Kudos Loan Bazaar…

Babu Patil

5/5

A very helpful and a very patient team . My special thanks to Mr.Jitendra Sharma and Ms.Kanchan for their support . Dont worry about loan just contact this team they have solution for all .Once again thank you all

Dr.Abhijeet Kumar

5/5

I recommended their services to a friend of mine, and the services given were excellent. Very professional team, with polite and helpful approach. Highly recommended

Jayesh Shah