Availing a home loan can become a nightmare if not availed from a good bank. I went to the Indian Bank to ask about the loan eligibility criteria and got some Indian bank home loan reviews from its customers. I was trying to extract as much information as I can so that I can decide whether to opt for a loan here or not. However, an old lady gave me her Indian bank home loan review and it was not very pleasing. They delay the approval and levies charges unnecessarily. I know many of you might also be trying to know more about it so let me share what I got to know.
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What are the eligibility criteria to avail a home loan in Indian Bank?In order to avail a home loan, the applicant has to meet some criteria like
The applicant must be between 21 years to 60 years of age
Both salaried and self-employed persons can apply for a loan here
The loan tenure can be up to 30 years maximum
He/she must be a citizen of India
The minimum salary to avail a home loan here is Rs 10000
The interest rate of the home loan is going to be between 8.50% to 10.15%.
What is the Indian bank review of home loan ind mortgage loan account?
Indian Bank is overall good but has some drawbacks like
The documentation is a long process. They will ask for the documents, verify them and if all goes well shall approve them but it takes nearly a month or even more which is just too much time
The interest rate and processing fee are very high here. Even if you get a good amount of money as a loan, these charges make the debt higher.
The process to prepay or close the loan also gets delayed in Indian Bank
They will start asking for some hidden charges just before approving the home loan that no other banks have
If you check other bank’s interest rates and compare them with Indian Bank, you will see that the later charges more than most of the banks.
I hence availed a home loan through NoBroker from thor baking partner-
Union Bank. In Union Bank -
The Interest rate is 8.3% onwards
Max tenure is 30 years
Processing Fee is Rs.2000 + 0.3% of the loan Amount + 18% GST
NoBroker officials helped me out throughout the process and I had no problem getting it approved.
This is all I can say in this
Indian bank home loan review.
Read More:Which Bank is the Safest in India?
What are the best home loan options available in India currently?
Can anyone tell what are all documents required to take a home loan from the bank.
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Authors Of The Question
What is the Indian Bank Home Loan Review?
Shantosh
706 Views
1 Answers
1 Year
2023-01-19T09:54:16+00:00 2023-09-21T15:47:54+00:00Comment
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