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IDFC First Bank provides home loans with competitive interest rates starting from 8.85% per annum for salaried individuals and 9.25% for self-employed borrowers. The bank offers loan amounts ranging from Rs. 5 lakh to Rs. 10 crore with flexible repayment tenure up to 30 years. With minimal documentation requirements, digital application process, and no prepayment charges on floating rate loans, IDFC First Bank makes homeownership accessible. The bank's unique "No Income Proof" program allows eligible borrowers without regular income documents to secure home loans. Whether you're purchasing a new property, constructing a house, renovating an existing home, or transferring your existing loan, IDFC First Bank offers tailored solutions with transparent pricing and customer-focused service.
|
Parameter |
Details |
|
Starting Interest Rate (Salaried) |
8.85% p.a. |
|
Starting Interest Rate (Self-Employed) |
9.25% p.a. |
|
Interest Rate Range |
8.85% - 10.50% p.a. |
|
Minimum Loan Amount |
Rs. 5 lakh |
|
Maximum Loan Amount |
Rs. 10 crore |
|
Loan Tenure (Salaried) |
Up to 30 years |
|
Loan Tenure (Self-Employed) |
Up to 25 years |
|
Processing Fee |
0.25% - 0.50% of loan amount |
|
Prepayment Charges (Floating) |
Zero |
|
Foreclosure Charges (Floating) |
Zero |
|
Maximum LTV Ratio |
Up to 90% |
|
EMI Payment Dates |
2nd, 5th, or 10th of month |
|
Applicant Type |
Interest Rate (p.a.) |
Maximum Tenure |
|
Salaried |
8.85% onwards |
30 years (360 months) |
|
Self-Employed |
9.25% onwards |
25 years (300 months) |
|
NRI (Salaried) |
8.85% - 10.50% |
30 years |
|
Loan Scheme |
Interest Rate |
Purpose |
|
Regular Home Loan (Salaried) |
8.85% p.a. onwards |
Purchase/construction/renovation |
|
Regular Home Loan (Self-Employed) |
9.25% p.a. onwards |
Purchase/construction/renovation |
|
Balance Transfer |
8.75% - 8.85% p.a. |
Transfer from other banks |
|
Top-Up Loan |
Same as balance transfer |
Additional funds on existing loan |
|
No Income Proof Program |
As per profile |
For non-documented income |
|
Interest Rate |
Tenure |
EMI Per Lakh |
|
8.85% p.a. |
30 years |
Rs. 795 |
|
8.85% p.a. |
25 years |
Rs. 839 |
|
8.85% p.a. |
20 years |
Rs. 916 |
|
9.25% p.a. |
30 years |
Rs. 815 |
|
9.25% p.a. |
25 years |
Rs. 863 |
|
9.25% p.a. |
20 years |
Rs. 944 |
|
Bank Name |
Starting Interest Rate |
Processing Fee |
Prepayment Charges |
Maximum Tenure |
|
IDFC First Bank |
8.85% p.a. |
0.25-0.50% |
Zero (floating) |
30 years |
|
SBI |
7.50% p.a. |
0.35% + GST |
Zero (floating) |
30 years |
|
HDFC Bank |
7.90% p.a. |
Up to 0.50% |
Zero (floating) |
30 years |
|
ICICI Bank |
7.70% p.a. |
Up to 1% |
Zero (floating) |
30 years |
|
Axis Bank |
8.35% p.a. |
Up to 1% |
Zero (floating) |
30 years |
|
Bank of Maharashtra |
7.35% p.a. |
NIL |
Zero |
30 years |
|
Kotak Mahindra |
7.99% p.a. |
Up to 1% |
Zero (floating) |
30 years |
|
Bank of Baroda |
7.45% p.a. |
0.25% + GST |
Zero (floating) |
30 years |
|
Feature |
Benefit |
|
Customized Solutions |
Tailored loan plans based on individual needs |
|
Digital Process |
Complete online application and tracking |
|
Quick Approval |
Faster turnaround time with digital processing |
|
No Income Proof Option |
Special program for non-documented income |
|
Zero Prepayment Penalty |
Pay off loan early without extra charges |
|
High Loan Amount |
Up to Rs. 10 crore financing available |
|
Long Tenure |
Up to 30 years for comfortable EMIs |
|
Balance Transfer |
Easy switch from other banks |
|
Top-Up Facility |
Additional funds on existing loans |
|
Surrogate Programs |
Alternate methods to assess eligibility |
|
Loan Amount |
Maximum LTV |
|
Up to Rs. 30 lakh |
90% |
|
Rs. 30 - 75 lakh |
80% |
|
Above Rs. 75 lakh |
75% |
|
Program |
Details |
|
No Income Proof |
For applicants without regular income documents |
|
Fastrack Balance Transfer |
Quick transfer with top-up option |
|
Surrogate Programs |
Enhanced eligibility for self-employed |
|
Women Housing Program |
Micro-housing finance for women |
|
PMAY Benefits |
Interest subsidy up to Rs. 2.67 lakh |
|
Parameter |
Requirement |
|
Applicant Type |
Resident Indians & NRIs |
|
Minimum Age |
21 years |
|
Maximum Age at Maturity |
60 years |
|
Employment |
Government/Private/MNC |
|
Work Experience |
Minimum 3 years total |
|
Current Job |
1 year in current organization |
|
Minimum Annual Income |
Rs. 1 lakh |
|
Loan Tenure |
12 to 360 months |
|
Parameter |
Requirement |
|
Applicant Type |
Resident Indians only |
|
Minimum Age |
23 years |
|
Maximum Age at Maturity |
70 years |
|
Business Type |
Professionals/Sole Proprietor/Partnership/MSME |
|
Business Continuity |
Minimum 4 years |
|
Minimum Annual Income |
Rs. 1.5 lakh |
|
Loan Tenure |
12 to 300 months |
|
Parameter |
Requirement |
|
Applicant Type |
Non-Resident Indians (salaried only) |
|
Age Range |
21 to 60 years |
|
Work Experience |
Minimum 3 years |
|
Valid Documents |
Passport, work permit, employment contract |
|
Loan Tenure |
Up to 30 years |
|
CIBIL Score Range |
Loan Approval Chances |
Interest Rate Impact |
|
750 and above |
Excellent |
Lowest rates |
|
700 - 749 |
Very Good |
Competitive rates |
|
650 - 699 |
Good |
Higher rates |
|
Below 650 |
Fair |
May face rejection or very high rates |
|
Parameter |
Details |
|
Purpose |
Purchase/construction/renovation of house/flat |
|
Property Type |
New property, under-construction, resale |
|
Plot + Construction |
Available |
|
Loan Amount |
Rs. 5 lakh to Rs. 10 crore |
|
Interest Rate (Salaried) |
8.85% p.a. onwards |
|
Interest Rate (Self-Employed) |
9.25% p.a. onwards |
|
Tenure |
Up to 30 years (salaried), 25 years (self-employed) |
|
Parameter |
Details |
|
Purpose |
Transfer existing home loan from another bank |
|
Interest Rate |
8.75% - 8.85% p.a. |
|
Eligibility |
Based on existing loan repayment track record |
|
Top-Up Facility |
Available up to 100% of balance transfer amount |
|
Processing Fee |
As per standard rates |
|
Special Feature |
"Fastrack" quick approval process |
|
Parameter |
Details |
Home Loan Reviews
