IndusInd Bank Home Loan Interest Rate
If you are looking for an affordable home loan scheme, take advantage of the home loan interest rate of IndusInd Bank, which starts at 8.50% per annum. However, the IndusInd Bank home loan interest rate is subject to change as it is linked to the External Benchmark per the RBI guidelines. The bank charges up to 1.00% of the loan amount, or Rs. 10,000, whichever is higher, as a processing fee for all home loan applications. The maximum loan repayment tenure offered on IndusInd bank home loans is up to 30 years.
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IndusInd Bank Home Loan Key Highlights
| Amount of Loan | Up to 90% of the property value |
|---|---|
| Rate of Interest | 8.50% p.a. onwards |
| Processing Fees |
Up to 1.00% of the loan amount or Rs. 10,000, whichever is higher. IMD -Rs. 2,500 |
| Max Tenure for Loan Repayment | 30 years |
IndusInd Bank Home Loan Interest Rates in 2024
IndusInd Bank offers easy home loans to both salaried and self-employed individuals. The lowest IndusInd Bank home loan interest rate starts at 8.50% per annum and might go up to 10.55% per annum. The tables below highlight the IndusInd Bank home loan interest rate 2023 for different loan applicants.
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Applicants with a CIBIL score of 750 or higher | 8.50% per annum |
| Other Applicants | 8.83% - 10.55% per annum |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Repo Linked Lending Rate (RLLR) is 8.83% p.a.
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 8.50% - 10.55% per annum |
IndusInd Home Renovation/ Extension Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 8.50% - 10.55% per annum |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Bank Customers | 8.50% per annum onwards |
Interest rates were last updated on 27th November 2023
IndusInd Bank Home Loan Interest Rates for All Schemes in India
IndusInd Bank understands the different needs of different home loan borrowers, so it offers a wide range of home loan schemes to match their needs. The table below will give you a clear idea of the home plan schemes offered by the bank and the standard rate of interest offered on each.
| IndusInd Bank Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| IndusInd Home Renovation/ Extension Loan |
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| IndusInd Approved Project Home Loan |
|
| IndusInd NRI Home Loan |
|
| IndusInd Plot Plus Construction Home Loan |
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| IndusInd Balance Transfer Home Loan |
|
| IndusInd Top-Up Home Loan | 8.50% per annum onwards |
IndusInd Bank Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft
IndusInd Bank offers three convenient home loan facilities to its customers who already have a home loan scheme with the bank, and these are listed below:
IndusInd Bank Home Loan Balance Transfer
Regretting paying a high interest rate for your home loan from another bank or NBFC? Then opt for the IndusInd Bank Balance Transfer Home Loan Scheme that allows you to easily transfer your existing home loan to the IndusInd Bank at a lower interest rate. The interest rate for the IndusInd Bank balance transfer home loan starts at 8.50% per annum.
IndusInd Bank Home Loan Top-Up
Grab the extra financial help the IndusInd Bank offers through easy Top-Up Home Loans. It is a flexible way of reducing the borrower's financial burden as it helps reduce the monthly EMI repayment for home loans. The IndusInd Bank home loan top-up interest rate starts at 8.50% per annum.
IndusInd Bank Home Loan Overdraft Option
The IndusInd Bank home loan overdraft facility on home loans is an excellent way through which the bank allows its customers to avail some additional funds to meet their urgent financial needs. The main benefit of the IndusInd OD facility is that it saves the borrower from reapplying for a new loan amount. The IndusInd Bank overdraft facility is available at an interest rate of 8.50% per annum.
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Compare Indusind Bank Home Loan Interest Rate with Top Banks
It is always better to compare services from similar providers for an informed decision. The same rule should be applied before applying for a home loan scheme from IndusInd Bank. The table below highlights the interest rates and processing fees of other leading financial organizations in India providing home loans so that you stay confident about choosing IndusInd Bank home loans:
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| HDFC Home Loan | 8.50% p.a. onwards | Up to 0.50% of the loan amount / Rs. 3,000 (whichever is higher) + applicable taxes |
| LIC HFC | 8.50% p.a. onwards | Up to 0.25% (Rs. 25,000 max) |
| Standard Chartered | 8.75% p.a. onwards | 0.5% - 1% of the approved loan amount |
| PNB Housing | 8.75% - 11.45% p.a. | Up to 0.50% (Rs. 10,000 max) |
| Tata Capital Ltd. | 8.95% - 12.00% p.a. | Up to 0.25% (Rs. 3,540 max) |
Indusind Home Loan Balance Transfer Interest Rates
IndusInd Bank is known for its excellent customer care service and affordable financial schemes. One such scheme comes in the form of IndusInd Bank Home Loan Balance Transfer, which aims to help customers transfer their outstanding balance on loan repayment from another bank to IndusInd's lower rate of interest home loan schemes.
IndusInd Bank home loan transfer interest rates range between 8.50% per annum for all loans. Both salaried and self-employed borrowers can easily opt for the IndusInd Bank balance transfer home loan scheme. Have a look at the easiest way to apply for an IndusInd Bank balance transfer home loan:
- Go to the Repay Right section on the BASIC Home Loan website - Repay Right
- Enter the required information in the provided form and fill in the key details on the current outstanding loan amount, existing rate of interest per annum, new rate of interest per annum, existing loan repayment tenure, and existing EMI paid on the loan amount.
- Click on Next once you have entered the required details on the form.
- You can see your total savings with the IndusInd Bank Home Loan Balance Transfer option on the next page.
- Alternatively, you can get in touch with one of the team representatives of BASIC Home Loan, who can help maximize your savings with IndusInd Bank Balance Transfer on home loans.
Get Home Loan Starting at 8.5%*
How to Calculate Indusind Bank Home Loan Interest Rates?
To avoid any confusion about determining the interest rate payable on an IndusInd Bank home loan plan we suggest you use the online home loan interest rate calculator available at EMI. Use this easy-to-use online EMI calculator to plan your monthly finances better without any confusion. The table below provides a detailed estimate of the EMI payable and the interest rate on IndusInd Bank home loans:
IndusInd Bank Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 8.50% p.a. | Rs. 12,399 | Rs. 8,678 | Rs. 7,689 |
| Rs. 20 lakh | 8.50% p.a. | Rs. 24,797 | Rs. 17,356 | Rs. 15,378 |
| Rs. 30 lakh | 8.50% p.a. | Rs. 37,196 | Rs. 26,035 | Rs. 23,067 |
| Rs. 40 lakh | 8.50% p.a. | Rs. 49,594 | Rs. 34,713 | Rs. 30,757 |
| Rs. 50 lakh | 8.50% p.a. | Rs. 61,993 | Rs. 43,391 | Rs. 38,446 |
| Rs. 60 lakh | 8.50% p.a. | Rs. 74,391 | Rs. 52,069 | Rs. 46,135 |
| Rs. 70 lakh | 8.50% p.a. | Rs. 86,790 | Rs. 60,748 | Rs. 53,824 |
| Rs. 80 lakh | 8.50% p.a. | Rs. 99,189 | Rs. 69,426 | Rs. 61,513 |
| Rs. 90 lakh | 8.50% p.a. | Rs. 1,11,587 | Rs. 78,104 | Rs. 69,202 |
| Rs. 1 crore | 8.50% p.a. | Rs. 1,23,986 | Rs. 86,782 | Rs. 76,891 |
The figures in the table above are based on an 8.50% p.a. interest rate offered by the IndusInd Bank. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors.
FAQ's
The current interest rate for an IndusInd Bank home loan starts at 8.50% per annum. However, the interest rate is subject to change as it is linked to the External Benchmark per the RBI guidelines.
You can easily pay your IndusInd Bank home loan bill payment by following these steps:
- Visit the official loan payment URL of the bank
- Enter the loan account number and validate it
- Enter your registered mobile number
- Enter the CAPTCHA correctly and then click ‘Continue’
- Pay the amount mentioned in the Amount Due TAB
- Accept the Terms and Conditions
- Click ‘Submit’
- Verify the details on the next screen
- Click ‘Confirm and Pay’
You can easily check your IndusInd Bank home loan details by calling the toll-free numbers 022 42207777, 022 44066666, and 022 68577777 or by visiting the nearest branch of the bank.
The maximum loan repayment tenure offered on an IndusInd Bank home loan is up to 30 years.
Yes, like all other leading banks and NBFCs in India, IndusInd Bank also offers a flexible balance transfer home loan scheme to eligible applicants.
Yes, IndusInd Bank offers a loan against property to help people meet their personal and professional financial needs.
IndusInd Bank takes into account various factors to decide the interest rate on home loans. Some of these factors are the credit history of the borrower, age, nationality, minimum income, and employment status.
Yes, a home loan borrower can avail tax benefits under Section 24(B) of the Income Tax Act. According to this act, the borrower can avail a maximum tax deduction of up to Rs. 2 lakh on a self-occupied home provided the acquisition or the construction of the house is completed within 5 years.