IDFC First Bank Home Loan

IDFC First Bank Home Loans starting at just 8.75% p.a.

IDFC First Bank offers attractive interest rates on home loans starting at 8.75% p.a..The loan tenure can be extended up to 30 years, ensuring a Read More...

Use the loan for various needs - buying a new house (ready-built, under construction, or pre-owned), building a new home, or renovating your existing one. You can even switch your existing home loan from another bank to IDFC First Bank.

IDFC First Bank Home Loan Highlights

Loan Amount	As per the eligibility and specified LTV, No upper Cap
Tenure	Upto 30 years
Rate of Interest	8.75% onward
Processing Fee	0.2% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-
Prepayment/Foreclosure Charges	Nil
Max Tenure	30 years
Foreclosure Charges	Nil

IDFC First Bank Home Loans Comparison Table

Compare IDFC First Bank Home loan interest rates with other lenders to find the best deal. See how IDFC First Bank competitive rates stack up in our comprehensive comparison table.

Name of Lender	Amount Up to	Interest Rate	Tenure
Axis Bank	₹10 cr	8.75% Onwards	Up to 20 years

IDFC First Bank Home Loan EMI calculator

Enter the loan amount, interest rate, and loan tenure into the IDFC First Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.

Principal: ₹50,00,000

Rate of Interest: 9%

Tenure (in months): 120

EMI: ₹63,337.89

Total interest: ₹26,00,546.8

Total principal: ₹50,00,000

IDFC First Bank Home Loans Eligibility

IDFC First Bank Standard Home Loan

IDFC FASTTRACK Home Loan Balance Transfer Scheme

IDFC First Bank Standard Home Loan

IDFC First Bank provides home loan options to applicants for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, Purchase of Plot, Plot + Construction of a House, construction of a house, extension of house and repair/renovation. The maximum loan amount that can be sanctioned under this scheme is Rs.5 Crores for a maximum repayment tenure of 30 years.

IDFC First Bank Home Loan Schemes

IDFC First Bank provides a range of home loan schemes with interest rates starting from 8.4%, including options like Regular Home Loan with benefits for women and no pre-payment fees, Rural Housing Loans for people in rural areas, Home loan balance transfer for home loan borrowers. Each scheme includes a processing fee of 0.5% with varying minimum and maximum amounts.

Loan Type	Interest Rate (p.a.)	Processing Fee	Special Features
IDFC First Bank Standard Home Loans	From 8.4% onwards	Upto 0.5% of the loan amount plus applicable GST	No pre-payment charges Age 21-60 eligible
IDFC First FASTTRACK Balance transfer	From 8.4% onwards	Upto 0.5% of the loan amount plus applicable GST	No pre-payment charges Age 21-60 eligible

IDFC First Bank Home Loan Processing Fees and Charges

IDFC First Bank Home Loan Processing Fees

IDFC First Bank Home Loan Application charges

IDFC First Bank Home Loan Prepayment charges

IDFC First Bank charges a nominal processing fee for Salaried, Self-employed, and Self-employed Professionals which is 0.5%

How to Apply for IDFC First Bank Home Loan?

Prospective borrowers interested in an IDFC First Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the IDFC First Bank Official Website

Visit the IDFC First Bank Home Loan official website.
Click on Apply now
Enter the necessary details to determine the eligible loan amount.
Complete the required information on right side and tap "Submit".

Documents Required for IDFC First Bank Home Loan

Following is the list of documents required for different categories of customers

IDFC First Bank Home Loan list of documents for Salaried

IDFC First Bank Home Loan list of documents for Self-employed professionals

IDFC First Bank Home Loan list of documents for Self-employed

IDFC First Bank Home Loan list of documents for Farmers

IDFC First Bank Home Loan list of documents for NRIs

IDFC First Bank Home Loan list of documents for Salaried

Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
A Cheque for The Processing Fee for The Loan Application.
Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home

Allotment letter copy/Buyer agreement
Payment receipt made to the developer

For Resale Home

Title deeds including previous chain of property documents
Agreement to sell copy
Initial payment receipt made to the seller

For Construction

Title deed of plot
Copy of the plan approved by Local Authorities
No encumbrance proof on the property
The total estimate of construction by a Civil Engineer/Architect

IDFC First Bank Home Loan Balance Transfer

IDFC First Bank offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the bank' instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

IDFC First Bank Home Loan Amount (LTV Ratio):

Loan Amount	Loan Percentage
Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh - Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

IDFC First Bank Home Loan Customer Care

IDFC First Bank Home Loan Customer Care Toll-Free Number
Phone numbers: 1800 10 888

IDFC First Bank Home Loan FAQ’S

Here are some of the frequently asked questions with regards to IDFC First Bank Home Loan

What is the current interest rate for IDFC First Bank home loans?

IDFC First Bank offers home loans starting from 8.75% p.a., varying based on the applicant's credit profile.

How do I calculate the interest cost for my IDFC First Bank home loan?

You can determine the interest cost using the IDFC First Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.

What factors contribute to the fluctuation of IDFC First Bank home loan interest rates?

IDFC First Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing IDFC First Bank home loan borrowers. Additionally, IDFC First Bank may modify the spread over benchmark rates during special or festive home loan offers.

Who is eligible to be a co-applicant for an IDFC First Bank Housing Loan?

Co-owners of the property must also be co-applicants for the IDFC First Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.

Can I make early payments toward my outstanding home loan amount?

Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. IDFC First Bank does not impose prepayment charges on home loans with floating interest rates.

How can I lower my IDFC First Bank Home Loan interest rate?

You can reduce your IDFC First Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. IDFC First Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.

What are the pre-closure charges for IDFC First Bank home loans?

Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.

What is the disbursement process for IDFC First Bank Home Loans?

After property and document verification and completion of the 'own contribution' or down payment, IDFC First Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.

Is my spouse's income considered in calculating the home loan amount?

Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to IDFC First Bank for consideration.

What is the minimum credit score required for IDFC First Bank Home Loan applicants?

While IDFC First Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.

Can I secure home loan approval while still deciding on a property?

Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.