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IB Home Loan Combo
EligibilityIndividuals including Joint borrowers who have * Availed the Home Loan from Indian Bank * Satisfactorily serviced the Home Loan for at least 3 years after the Holiday Period. * Created Equitable Mortgage * Maintained security margin of as per the original terms of sanction for purchase of House / plot / construction of house. * Home Loan account repayments are regular and the account is in Standard Category.
BenefitsUnder the package the borrower is entitled for any one or more of the following loans, with concessional interest rate and processing charges provided he / she is otherwise eligible as per the individual loan products. * IB Vehicle Loan (Both 4 wheeler and 2 wheeler) * IB Clean Loan (to Salaried Class) * IB Bhavishya Prakash (for one of the dependants of the borrower) * IB Pension Loan * IB Home Improve
Interest RatesConcession of 0.50% from the applicable Card Rate for the following loan products * IB Vehicle Loan (Both 4 wheeler and 2 wheeler) * IB Clean Loan (to Salaried Class) * IB Bhavishya Prakash (for one of the dependants of the borrower) * IB Pension Loan No interest rate concession for IB Home improve (subject to minimum of BR or MCLR 1 year i.e., no concession below BR or MCLR 1 year)
Processing feeConcession of 50 % from the applicable processing charges of the following loan products * IB Vehicle Loan (Both 4 wheeler and 2 wheeler) * IB Clean Loan (to Salaried Class) * IB Bhavishya Prakash (for one of the dependants of the borrower) * IB Pension Loan * IB Home Improve
Security* The security prescribed for the individual loan products are to be offered * Equitable Mortgage taken for the Home Loan should be extended to cover the other loan/s sanctioned under the package.
Other Requirements/Details* All other terms and conditions laid down as per the individual loan products should be complied with. * The Home Loan borrowers can avail any one or more of the above products subject to fulfilling repayment capacity for servicing existing loan liability/ies and the proposed loan liability/ies
 
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