IDFC First Home Loan Details Explained
IDFC provides flexible home loan solutions, starting with attractive interest rates from 8.850% p.a. and offering repayment terms up to 30 years. Customers can borrow amounts up to ₹5 crore, suitable for various property-related requirements such as purchasing plots, constructing new homes, renovations, and home extensions. IDFC also caters to specific groups with specialized loan offerings for women applicants.
Rate of Interest
8.85% - 14%
Loan to Value
80% - 90%
Loan Tenure
Max 30 Years
Max Loan Amount
Upto 5 Cr
| Rate of Interest | 8.85% - 14% |
| Loan Tenure | Max 30 Years |
| Age | Salaried : 21 - 60 years Self Employed : 23 - 70 years |
| Profession | Salaried/Self Employed |
| Income | Salaried :₹1 lakh/ annum & ABove Self Employed : ₹1.5 lakh/ annum & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 5 Cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Business Loan, Professional Loan, Loan Against Property |
| Processing Fees | Up to 3% of loan amount |
| Other Charges | Switch from Floating to Fixed rate: 0.1% of sanctioned loan amount or Rs.10,000/- whichever is lower |
| Overdraft Facilities | |
| Highlights | • Minimal documentation, tailor-made loans • Up to 100% top-up at the same rate as balance transfers • Enhanced eligibility for salaried & self-employed customers • Digital process for availing loans up to ₹10 crore and tenure up to 30 years |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.85% - 14% |
| Monthly EMI | ₹ 44,505 - ₹ 62,176 |
Eligibility Criteria for IDFC Home Loan
| Criteria | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Age | 21-60 years | 23-70 years |
| Income | Must earn minimum ₹1 lakh per annum | Must earn minimum ₹1.5 lakh per annum |
| Nationality | Resident Indian, NRI | Resident Indian, NRI |
| Credit Score | A credit score of 750 or above | A credit score of 750 or above |
Calculate your IDFC home loan eligibility and unlock exclusive offers for you!
IDFC Home Loan Interest Rates
| Employment Type | Product | Home Loan Rate |
|---|---|---|
| Salaried | Home Loan | 8.85% onwards |
| Home Loan Balance Transfer | 8.85% onwards | |
| Home Loan Top Up | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount | |
| Self-Employed | Home Loan | 9.25% onwards |
| Home Loan Balance Transfer | 9.25% onwards | |
| Home Loan Top Up | Top Up at same ROI as BT subject to max capping of 100% of the BT loan amount |
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If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
IDFC Home Loan Processing Fee and Charges
Processing Charges
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 3% of loan amount. |
| 1) EMI Bounce Charges (For each presentation dishonoured) 2) Duplicate No Objection Certificate Issuance Charges 3) Document retrieval charges (per physical document) 4) EMI Pick up/ Collection Charges 5) Cheque/ Instrument Swap charges (per swap) | ₹ 500 |
| 1) Copies of documents 2) List of Documents 3) Repayment Schedule 4) Statement of Account | Soft copy – NIL Physical copy ₹ 500 |
| 1) Stamp Duty & other statutory charges 2) Equitable mortgage creation charges 3) Equitable mortgage cancellation charges | As applicable for each state |
| MCLR to EBR type | NIL |
IDFC Home Loan Documents
Identity Documents
| Document Name | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Proof of Identity | ✔ | ✔ |
| Address Proof | ✔ | ✔ |
| Age Proof | ✔ | ✔ |
| Passport-sized Photographs | ✔ | ✔ |
Proof Of Income
| Document Name | Salaried Applicants | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Last 3 month’s Salary Slips | ✔ | ✖ | ✖ |
| Last 6 months’ Bank Statements, showing salary credits | ✔ | ✖ | ✖ |
| Latest Form-16 and IT returns | ✔ | ✖ | ✖ |
| Past 2 years’ ITRs | ✔ | ✔ | ✔ |
| Last 2 years Balance Sheet and P&L A/c Statements | ✖ | ✔ | ✔ |
| Last 12 months’ Savings Account Statements of individual | ✔ | ✔ | ✔ |
Other Documents
| Document Name | Salaried Applicants | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Own Contribution Proof | ✔ | ✔ | ✔ |
| Employment Contract | ✔ | ✖ | ✖ |
| Last 6 months’ Bank Statements | ✔ | ✔ | ✔ |
| Passport size photograph | ✔ | ✔ | ✔ |
| Cheque for processing fee favouring IDFC Bank | ✔ | ✔ | ✔ |
| Business Profile | ✖ | ✔ | ✔ |
| Latest Form 26 AS | ✖ | ✔ | ✔ |
| Details of ongoing loans of the individual and the business entity | ✔ | ✔ | ✔ |
IDFC Home Loan Schemes and Top Plans
Comparison
| Feature | Home Loan | Business Loan | Suvidha Shakti Loan | Loan Against Property | Home Loan Balance Transfer |
|---|---|---|---|---|---|
| Minimum Loan Amount | – | ₹7 lakh | ₹10,000 | – | – |
| Maximum Loan Amount | ₹5 crore | ₹1 crore | ₹1 Lakh | – | – |
| Interest Rate | 8.85% p.a. onwards | 14.00% p.a. onwards | attractive interest rates | attractive interest rates | 9.50% p.a. onwards |
| Tenure | Up to 30 years for salaried Up to 25 years for Self Employed | 12 Months to 48 Months | 1-3 years | Up to 25years | Up to 25 years |
| Eligible Applicants | Salaried/Self-employed | Salaried/Self-employed | Loan applicable only for existing Sakhi Shakti Customers | Salaried/Self-employed | Salaried/Self-employed |
Details
Home Loan
- Maximum Loan Amount: ₹15 crore
- Interest Rate: 8.80% p.a. onwards
- Tenure: Up to 30 years for salaried, Up to 25 years for Self Employed
- Eligible Applicants: Salaried/Self-employed
Business Loan
- Minimum Loan Amount: ₹7 lakh
- Maximum Loan Amount: ₹1 crore
- Interest Rate: 14.00% p.a. onwards
- Tenure: 12 Months to 48 Months
- Eligible Applicants: Salaried/Self-employed
Suvidha Shakti Loan
- Minimum Loan Amount: ₹10,000
- Maximum Loan Amount: ₹1 Lakh
- Interest Rate: Attractive interest rates
- Tenure: 1-3 years
- Eligible Applicants: Loan applicable only for existing Sakhi Shakti Customers
Loan Against Property
- Interest Rate: Attractive interest rates
- Tenure: Up to 25 years
- Eligible Applicants: Salaried/Self-employed
Home Loan Balance Transfer
- Interest Rate: 9.50% p.a. onwards
- Tenure: Up to 25years
- Eligible Applicants: Salaried/Self-employed
How to Apply
Applying for an IDFC home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest IDFC branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get IDFC Bank’s best rates in a single call.
How to Track IDFC Home Loan Application Status?
Tracking your IDFC home loan application status is straightforward and helps you stay updated on your loan approval process.
- Visit the official website of IDFC Customer Portal.
- Go to the “Home Loans” section and select “Online Loan Application.”
- Click on “Track Application,” enter your application number, and hit “Submit.”
- Your home loan application status will appear on the screen.
How to Download IDFC Home Loan Statement?
Downloading your IDFC home loan statement is quick and easy, allowing you to access your loan details and track your payments online.
- Go to the official IDFC website
- Click on the “Customer Login” option in the top right corner.
- Under the Customer Login section, select “Home Loans.”
- Log in with your username and password, or use your loan application number and date of birth.
- Enter the OTP sent to your registered email address and mobile number.
- Your home loan account details will appear on the screen.
- Navigate to the “Activities” tab and choose “Repay Certificate.”
- Select your loan number and financial year, then click “Submit.”
- The home loan certificate, showing your loan repayment information, will be displayed.
- You can print or download the certificate for your records.
IDFC Customer Care
To facilitate effective communication with customers, in addition, IDBI offers various channels for customer support.
| Service | Details |
|---|---|
| Home Loan Enquiry through WhatsApp | 95555 55555 |
| Official Address | The Square,C-61, G Block, Ground Floor To 8th Floor Bandra Kurla Complex, Bandra East, Mumbai – 400051 |
| Website | https://www.idfcfirstbank.com/ |
Comparison
You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
The maximum tenure for the IDFC First home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)
IDFC First offers both fixed and floating interest rate options for home loans. Also, with a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.
IDFC First determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.
You can calculate the EMI for IDFC First Home Loan using any online EMI Calculator.