Find the Best Indian Bank Home Loan Deals Online (2022)

‍Find the Best Indian Bank Home Loan Deals Online: If you are looking to take a loan for your home, it is important that you find the best Indian bank home loan deals. This is because different financial institutions offer different interest rates and loan amounts based on their risk profile and other factors.

Find the Best Indian Bank Home Loan Deals Online

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Therefore, finding the right Indian bank home loan deal can be challenging without the right research. Here are some key tips you should remember when hunting for the best Indian bank home loan.

Interest Rate6.50% p.a. to 7.40% p.a.
Processing Fee0.23% of the loan amount
Age18 years to 70 years
Type of EmploymentSalaried or self-employed
NationalityIndian or NRI
Indian Bank Home Loan Eligibility Criteria

Conduct Comparisons on the Internet

Find the Best Indian Bank Home Loan Deals Online (2022)
Find the Best Indian Bank Home Loan Deals Online

There are many online home loan comparison websites that allow you to view various home loan offers from different financial institutions and compare them side-by-side. You can also use these websites to search for home loan offers based on your preferred loan amount, loan tenure, loan repayment schedule, loan amount advantage, etc.

It is important to remember that the best home loan deal is not always the lowest one. It is usually the one that suits your needs and financial circumstances the best. Therefore, you should conduct comparisons based on the factors mentioned below.

  • Loan amount – The amount you borrow has a significant impact on the interest rate you have to pay. A lower loan amount usually translates into a lower interest rate.
  • Loan tenure – The loan tenure you choose also determines your monthly repayment amount. Again, a shorter loan tenure usually translates into lower monthly repayments.
  • Loan amount advantage – This is applicable only for home loans taken out by a person who is already a homeowner.

It determines how much of the loan amount you can repay in the first year.

Check Reputable Sources

Check with your family and friends if they know any people who have recently taken a home loan or know someone who is looking to borrow some money. You can also search online for reviews on home loan providers.

You can also read online blogs that discuss home loan deals and compare a few different blogs to find the best one. This is because not all home loan deals will be publicly advertised online. Some home loan providers may only offer their deals to specific people.

Therefore, try to find a blog that discusses a wide range of home loan offers from the different financial institutions.

Ask Around for Recommendations

You can also approach some of your friends and relatives who have recently taken a home loan or know someone who has borrowed money from a certain financial institution.

They can assist you in finding the best home loan deal. You can also approach local mortgage brokers to find home loan deals from different financial institutions.

You can also sign up for mortgage brokers’ e-mail newsletters to get email notifications whenever a new home loan deal is listed on their websites.

Know What You Are Looking For

Before you apply for a home loan, it is important that you understand what you are looking for in a home loan deal. This will make it easier for you to compare various home loan offers and find the best home loan deal. Here are some key factors you should consider when hunting for the best home loan deal.

  • Loan amount – This is obviously the amount you will borrow and will have a significant impact on the monthly payment amount you have to pay back.
  • Loan tenure – The loan tenure you choose also determines your monthly repayment amount. A shorter loan tenure usually translates into lower monthly repayments.
  • Interest rate – This is applicable only for home loans taken out by a person who is already a homeowner. It determines how much you have to pay as interest every month.
  • Loan amount advantage – This is applicable only for home loans taken out by a person who is already a homeowner. It determines how much of the loan amount you can repay in the first year.
  • Loan security – This determines how much equity you are able to give up as security when you sign a home loan.
  • Loan appraisal – This determines how much the home is worth. A low loan appraisal may result in a lower monthly payment amount.
  • Home appraisal – This determines how much equity you have in the home. A low home appraisal may result in a lower monthly payment amount.

Final Words

Finding the best home loan deal can be challenging without the right research. Therefore, it is important that you conduct proper comparisons on the Internet, check reputable sources, ask around for recommendations, and know what you are looking for. These will help you to find the best home loan deal.

FAQ,s

Can I get home loan in Indian Bank?

Indian Bank offers home loans for both resident Indian and Non-Resident Indians (NRIs) at attractive rates starting from 6.50% p.a. You can extend the tenure till 30 years. The applicable processing fee is 0.23% of the loan amount.

How much interest on home loan in Indian Bank?

Indian Bank offers home loans @ 6.50% p.a. onwards for tenures of up to 30 years and loan amounts of up to 90% of the property's value.

Can I get loan from Indian Bank?

Personal Loans by Indian Bank are available for salaried working with government, private sector, MNCs and self-employed professionals such as doctors within the age group of 21 to 58 years. Indian Bank Personal Loan can be availed for a period of 12 months and can go up to 36 months.

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