What is the IDFC Bank Home Loan Review?

IDFC stands for

Infrastructure Development Finance Company. It is a finance agency that provides financial and advisory services. A lot of people avail home loans from them and I was planning to avail one as well. However, my friend gave me an

IDFC bank home loan review and she did not seem happy with it. Let me share the eligibility and other aspects and also whether it is a good idea to avail home loan from them or not.

What are the IDFC bank home loan criteria for salaried persons?

Before sharing any IDFC home loan review, let me share the eligibility criteria to avail a home loan here first. Here is the list of requirements you need to fulfil

• The applicant must be between 21 years to 60 years old

• The applicant must have at least 3 years of experience

• he/she must earn Rs 1 lakh per annum

• The home loan tenure must be between 1-30 years

For self-employed persons it is

• The applicant must be an Indian resident

• He/she must be between 23-70 years

• He/she must have 4 years of business continuity

• The applicant must earn Rs 1.5 lakh per annum

• The loan tenure must be between 1-30 years

• If you have good CIBIL score, meet all the requirements, the officials will approve your loan easily

• Their work is super fast if all the requirements are met

• You can get an

• Extended loan term here

• One can avail a home loan worth Rs 10 crores

• Have provision for online sanction of home loan and gets done within 8 hours

• They have good interest rates

• They will deduct a lump sum amount even if you foreclosure your home loan quite early

• They start leaving new taxes unnecessarily out of nowhere along with your monthly EMIs

• Levies heavy MODT charges

• Loan disbursement can take time and my friend had to wait for about 3 months so they sometimes delay the approval process which is pathetic

• A number of fees get levied with the home loan which overall makes it expensive

• Their interest rate is 8.75% onwards for salaried and 9.00% for self-employed which is quite high

You can check out some other IDFC home loans review as well and decide whether availing a home loan is going to be a good decision or not.

I however availed a home loan from NoBroker and opted for their banking partner SBI. It was quite smooth and their assistance really helped me a lot to get my loan approved easily. I got my loan approved easily with 

• an 8.4% interest rate

• 20 years tenure

• The processing fee and upfront charges are also affordable

They have more than a dozen banking partners so you will have a lot of options to choose from.

I hope this IDFC bank home loan review was helpful.