Apply for Idfc First Home Loan

Hassle-free Documentation Process | Doorstep Service | Secured Loan | Complete Transparency | Low Interest Rate

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20

Years Of Experience

About Idfc First Home Loan

IDFC First Bank Home Loan provides the necessary financial support for Home Buying, Home Renovation, Home Extension, and Plot Purchase. It is a secured loan that requires the borrower to provide collateral as a form of security.

LoanMoney is a registered and authorized Direct Selling agent of various National, Multinational, and Non-Banking Financial Companies. It provides a loan with minimum documentation, low-interest rates for a longer tenure, fast approval mechanism, low processing fees, and multiple repayment options. Apply for IDFC First Bank Home Loan through LoanMoney to get hazel-free get hassle-free financial support from India's leading Bank.

Features of Idfc First Home Loan

There are many obstacles, which are affecting you in getting close to your dream home. Loanmoney try to give answers to all questions related to IDFC Home Loans, and make this home loan process simple for you. Follow a few simple steps to help Loanmoney team understand your requirements.

  • Loan amount up to Rs.10 Crores
  • Loans up to 85% of the property value
  • Repay only Interest during the under-construction period
  • Increase loan eligibility by adding the income of your family members
  • Insure yourself, as simply as the loan. Get mortgage credit shield at special rates
  • Competitive Rates: Our rates are super competitive! Try us!
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Details of Idfc First Home Loan

  • Interest Rate

  • Eligibility Criteria

  • Documents Required

  • General Information

Interest Rate

Fee Amount to be Paid
Rate of Interest 6.50% To 6.75%
Loan Processing Charges 10000/ + Service Tax
Cheque Bounce Charges NA
Cheque/ Instrument Swap charges NA
Prepayment/ Foreclosure Charges NA
Default Interest Rate NA
Duplicate Statement Issuance Charges NA
Duplicate Amortization Schedule Charges NA
Duplicate Interest Certificate NA
S(Provisional/ Actual) issuance Charges NA
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Idfc First Home Loan Eligibility Criteria

Age(Min-Max) 23 To 60 Years 23 To 70 Years 23 To 70 Years Minimum Income Min. 2,00,000/ p.a Min. 2,00,000/ p.a Min. 2,00,000/ p.a Co-applicant NA NA NA Loan Tenure Max. 20 Years Max. 20 Years Max. 20 Years Maximum Loan Amount Max. 5 Crore Max. 25 Crore Max. 25 Crore Employment/Business Continuity Min. 3 Year Min. 3 Year Min. 3 Year CIBIL Score Min. 700+ Min. 600+ Min. 600+
Particulars Salaried Self Employed Professional
Idfc First Documents Required

Salaried

  • ID and pan card copy
  • Address proof
  • 6 months bank statement from salary account
  • form 16
  • 3 months salary slip
  • Passport size photo

Self Employed

  • Income tax returns for last 2 years.
  • Profit & Loss Account along with computation of Income and Balance Sheet for last 2 years, duly certified by a CA.
  • Proof of business continuity for last 3 years.
  • Copy of bank statement (main account) for last 6 months.
  • Short note on the nature of business, form of organisation, clients and suppliers, etc.
  • Photo Identity.
  • Proof of signature.
  • Proof of Residence.
  • Proof of age
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Idfc First General Information

Salaried Self Employed Professional
Age 23 To 60 Years 23 To 70 Years 23 To 70 Years
Loan Amount Upto 5 Crore Upto 25 Crore Upto 25 Crore
Tenure Max. 30 Years Max. 25 Years Max. 25 Years
Rate of Interest / APR [Annual Percentage Rate] 6.50% To 6.75% 6.50% To 6.75% 6.50% To 6.75%
Features Get Interest Saver Account with Home Loan Get Interest Saver Account with Home Loan Get Interest Saver Account with Home Loan
Processing Fees 10000/ + Service Tax 10000/ + Service Tax 10000/ + Service Tax
Special NA NA NA
Documentation KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents.
Eligibility

If you are Salaried

  • Purchasing ready property/balance transfer of running loan on ready or under-construction property
  • Flexible repayment tenures up to 30 years. You choose
  • Repayment up to 60 years or retirement age
  • Indian Resident
  • 23 years & above
  • Min. 3 years of work experience

 

If you are Self-Employed

  • Purchasing ready property/balance transfer of running loan on ready or under-construction property
  • Flexible repayment tenures up to 25 years. You choose
  • Repayment up to 70 years
  • Indian Resident
  • Min age 23 years
  • Min. 3 years of work experience

If you are Self-Professional

  • Purchasing ready property/balance transfer of running loan on ready or under-construction property
  • Flexible repayment tenures up to 25 years. You choose
  • Repayment up to 70 years
  • Indian Resident
  • Min age 23 years
  • Min. 3 years of work experience

Self-Employed Documents

Personal Documents

  1. Application Form: Ensure the form is completed accurately.
  2. Photographs: Passport-sized photographs of the applicants.
  3. Proof of Identity: Any government-issued photo ID such as an Aadhaar card, passport, driving license, or PAN card.
  4. Proof of Residence: Documents like an Aadhaar card, passport, utility bills, or rental agreement.

Property Documents

  1. Property Papers: Sale agreement, sale deed, or any other relevant property ownership documents.
  2. Property Title Verification: NOC (No Objection Certificate) from relevant authorities, ensuring the property is legally clear for purchase.
  3. Property Tax Receipts: Receipts showing the property tax payments up to date.

Financial Documents

  1. Income Proof: Depending on your business structure, you might need different documents:
  • For Sole Proprietorship: IT returns along with computation of income, profit and loss statement, balance sheet, and audit report (if applicable).
  • For Partnership Firm: Partnership deed, IT returns, balance sheet, profit and loss statement, audit report (if applicable).
  • For Private/Public Limited Company: MOA (Memorandum of Association) and AOA (Articles of Association), IT returns, financial statements certified by CA, and audit report (if applicable).
  1. Bank Statements: Recent statements of your business and personal bank accounts to showcase your financial stability and income.
  2. Proof of Business Existence: Business registration documents, licenses, or certificates.
  3. GST Registration: If applicable, GST registration documents.
  4. Income Tax Returns: Typically, the last 2-3 years' IT returns along with computation of income and tax paid.
  5. Advance Tax Payments: Receipts or challans of advance tax payments, if applicable.

Self-Employed Eligibility

  1. Age: Applicants should be at least 24 years old and not exceed the applicant's retirement age, which is usually around 60 to 65 years.
  1. Income: The bank evaluates your income to determine your repayment capacity. Self-employed individuals are generally required to provide proof of their income, which may include income tax returns, profit and loss statements, balance sheets, and other relevant financial documents.
  1. Business Stability: The bank may require a certain number of years of business stability to ensure that your business has been operational for a reasonable period and has a steady income stream.
  1. Credit Score: A good credit score is important for loan eligibility. A higher credit score indicates better creditworthiness and increases the likelihood of loan approval.
  1. Loan Amount: The loan amount you are eligible for will depend on your income, business stability, creditworthiness, and the bank's policies. Generally, banks offer up to a certain percentage of the property's value as the loan amount.
  1. Property Type: IDFC FIRST Bank considers various factors related to the property for which you are seeking a loan, such as its location, market value, and legal status.
  1. Co-applicants: You can enhance your eligibility by adding a co-applicant, like a family member, who also fulfills the bank's eligibility criteria. This can increase the combined repayment capacity and strengthen your loan application.
  1. Documents: Self-employed individuals are typically required to submit a range of documents, including income tax returns, financial statements, business proof, identity proof, address proof, and property-related documents.
  1. Loan Tenure: IDFC FIRST Bank offers varying loan tenures, and you can choose a tenure that suits your repayment capacity. Shorter tenures may result in higher monthly installments but lower overall interest payments, while longer tenures may offer more affordable EMIs but higher interest costs over the loan's lifetime.

Quick Enquiry for Idfc First Home Loan

Share your contact details and talk with our experts to get an instant decision on your loan.

Check Your Eligibility

How much do you need?

EMI Calculator

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Purpose for Taking Home Loan

Home Buying

Buy your dream house or home that is within your budget.

Home Renovation

Make your home more beautiful by renovating your dream home.

Home Extension

Increase the amount of built-up space at your home using this loan.

Clients words

What our clients say

We pride ourselves on providing transparent and quality service to our clients, but you don’t just have to take our word for it. Read what our clients have to say about us.

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Job Varghese

Client

I am totally satisfied by loan money and the way it services its customers.... especially I thank and appreciate Ms. Somya as she is a great resource to the organization. She has been constantly assisting me from start till the end and has been a very prompt and sensible officer as she could offer the relevant deal for me.

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Vishwajeet Nanaware

Client

LoanMoney is really good in providing loan services. Particularly Chanchal, my loan assistant has great skills to communicate with her clients and understand their needs. She processed my personal loan on time. The rate of interest offered was lower than the others. it was overall a good experience with 100% satisfaction.

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Avlokit Kaushik

Client

This is my second time in have taken a loan from LoanMoney. Kavita has helped me a lot..very cooperative very helpful very fast. Thanku again.

FAQ of Home Loan

  • Who can apply for a Home Loan?

    Home Loan is available for salaried/self-employed as well as Professionals, Employees of public/pvt Ltd companies. Every bank has individual minimum criteria for net monthly income Rs. 25,000, age between 21 to 60 years, profession, CIBIL Score, job continuity, etc.

  • How long will it take for my Home Loan to be processed?

    Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.

  • What is the Cheapest Home Loan or Affordable Home Loan?

    An Affordable or cheapest Home Loan is a loan in which not only you can get an attractive interest rate starting from 10:75% to 18%, and you can get a quick Home Loan with minimum processing fees, No hidden charges. With our easy & minimal paperwork, and flexible EMI payment options will make it a hassle-free Home Loan.

  • What are Nil Foreclosure Charges in Home Loan?

    The term Loan foreclosure means that when a person does the full repayment of the remaining loan amount in one single & final payment instead of paying it back in multiple EMIs.

    Some banks don't allow foreclosure of the loan as they won’t get the interest from the borrower and some banks allow foreclosure of the loan but they charge a certain amount from the borrower. While taking a Home Loan to try to see if there is zero foreclosure charges or nil foreclosure charges facility available for borrowers. This can save your money which you was going to pay to the bank.

  • What are the features of Loanmoney's Fastest Home Loan?

    The features of Loanmoney's Fastest Home Loan are No Collateral or no Security, Easy Repayment options, Safety, Attractive Interest rates, It is Unsecured, Can be Obtained for any Purpose and Fast, Cheap & Reliable.

  • Do I need to provide any security or collateral to obtain Home Loan from Bank?

    No, you don’t have to provide any security, collateral or guarantee to obtain Home Loan from Bank.

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