Indian Bank EMI Calculator | Updated IB Interest Rates for Personal, Home, Car Loans

Indian Bank EMI Calculator is an online tool which helps you to calculate the Equated Monthly Installment amount. Here, on this page, we have provided the EMI calculator of Indian Bank for Car loans, home loans, and personal loans. Indian Bank housing loan EMI calculator, Indian Bank Car Loan EMI Calculator, Personal Loan EMI calculators Indian Bank are available here. Additionally, you can also get the information on Indian Bank EMI interest rates, Indian Bank EMI eligibility, documents required, etc. So, keep reading the article to makes use of the information.

Indian Bank EMI Calculator

Indian Bank is one of the Indian state-owned banking companies in the country. It was established in the year of 1907 with its headquarters at Chennai, India. The government of India owned the Indian bank in 1969. It is one of the top performing public sector banks and financial services company in the country. The bank is offering employment for over 20,661 employees in 2594 branches all over India. It also has the branches overseas in Colombo and Jaffna in Sri Lanka, Singapore. Indian Bank has 223 correspondent banks in around 71 countries.

The EMI calculator Indian Bank gives you the EMI (Equated Monthly Instalments). If you want to avail an Indian Bank loan on EMI basis, then you are at the right place. The usage of Indian Bank EMI calculator is very easy where you need to enter some basic details. You require the loan amount, interest rate, tenure of EMI to use Indian bank calculator for EMI. So, read the following sections to make use of the EMI calculator of Indian bank.

So, to know more details on Indian Bank EMI calculators, Click Here

Indian Bank EMI calculator

Indian Bank Personal Loan EMI Calculator

The Indian Bank personal loan is a multi-purpose loan for the individuals with the eligibility criteria. When you decide to avail a personal loan from Indian bank, you require some details of the loan. So, here we have provided the Indian Bank EMI calculator for the personal loan. With this EMI calculator for Indian Bank personal loans, you can know the Equated Monthly Instalment amount.

Indian Bank offers various personal loan services to satisfy the individual’s needs and requirements. The following loans are the personal loans offered by IB.

  • IB home loan.
  • Vehicle loan.
  • Plot loan.
  • OD/loan against deposits.
  • IND mortgage.

So, these are the various personal loan schemes of Indian bank. To know the EMI amount for these loans, you can use our Indian Bank Calculator for personal loans. Here is the procedure of using Indian Bank personal loan EMI calculator.

How to Use Indian Bank Personal Loan Calculator?

  1. Click the below link to Indian Bank EMI calculator for the personal loans.
  2. The Indian Bank personal loan eligibility calculator appears on your screen.
  3. Enter your Indian bank personal loan details like personal loan interest rates in Indian Bank, loan amount, and loan tenure.
  4. Check for any mistakes in your details and then click on “calculate.”
  5. Just within a few seconds, the personal loan emi calculator Indian bank displays the EMI amount.

So, to make use of the Indian Bank EMI calculator for personal loans, click the below link.

Personal Loan Interest Rate Calculator of Indian Bank 

Indian Bank Personal Loan Interest Rates

Personal Loan Indian Bank Interest Rates
Rate of Interest 12.65% – 13.65%
Processing Fee 0.50% of the loan amount
Tenure of the loan 36 months
Guarantor Requirement Yes

Documents Required for Personal Loan in Indian Bank

  • Indian Bank Personal Loan Application Form.
  • Passport or Voter ID or Driving License copies.
  • A Cheque for the processing fee.
  • Bank statements for the past 3 months or the passbook for the past 6 months.
  • For salaried customers, the latest salary slip, present dated salary certificate with Form 16.
  • The latest bank statement and ITR or a Form 16 for self-employed applicants.

Indian Bank Home Loan EMI Calculator

Individuals who have availed a home loan from Indian Bank can know the amount and the number of EMI they should pay regularly. By using the Indian Bank EMI home loan calculator online, applicants can make the EMI or repayment schedule. This helps in planning their financial budgets according to their repayments. In this Indian Bank EMI calculator for home loans, you need to enter the Indian bank home loan rates of interest. So, we have provided the interest rates of Indian bank home loan in the below sections. Moreover, have a look at the procedure of using Indian Bank home loan eligibility calculator.

How to Use Indian Bank Home Loan Calculator?

  1. Click on the below link to Indian Bank EMI calculator for home loans.
  2. The Indian Bank home loan interest rate EMI calculator opens on your screen.
  3. Fill in your details of Indian Bank home loan interest, loan amount, and loan tenure.
  4. Recheck for any wrong entrances in the calculator columns.
  5. Then click “calculate.”
  6. Within a few seconds, the home loan EMI calculator of Indian bank displays the Equated Monthly Installment amount.

So, to use the Indian Bank EMI calculator for home loans, click the below link.

EMI Calculator for Indian Bank Home Loans

Indian Bank Home Loan Interest Rate 2017

Home Loan Interest Rate in Indian Bank
Indian Bank Home Loan amount Rate of Interest on Indian Bank home loan
Up to Rs 75 Lakhs 9.55%
Greater than Rs.75 lakhs 9.75%

Indian Bank offers attractive, affordable interest rates on home loans for its customers. The Indian Bank rates of Interest on home loans are designed to meet the needs and requirements of customer’s housing.

Indian Bank Home Loan MCLR Rates

The Indian Bank Marginal Cost of Funds Based Lending rate for home loans stays at 9.45% for a tenure of 1 year. MCLR rates of Indian Bank came into rule on April 1st, 2016. The bank sanctions the rates which will be applicable for all rupee loans.

Home Loan MCLR Rates of Indian Bank
Loan Tenure MCLR rates
Overnight 9.20%
1 Month 9.25%
3 Months 9.30%
6 Months 9.35%
1 Year 9.45%
3 Years 9.55%
5 Years 9.70%

Documents Required for Indian Bank Home Loan

Applicants to get a home loan with Indian Bank should provide the following documents.

  • Indian Bank Home Loan Application form with three passport size photographs.
  • Bank statement with liabilities of the applicant, cor-applicant, guarantor, in the format of the bank.
  • ID proofs like PAN, Passport, Voter ID, Driving License.
  • Address proofs like electricity bill, Passport, Latest telephone bill, voter ID, Property tax receipt.
  • If the applicant is a businessman or an industrialist, he.she should submit the address proof of the business.
  • For the salaried employees, employment proof, past six months’ salary slips.
  • Bank statement of the applicant for the last six months.
  • Income proof like rent or interest earned from investments.

The following applicants should submit their income tax returns, Form 16, and balance sheets for the past three financial years.

  • Professionals.
  • Self-employed individuals.
  • Businessmen.
  • Sales agreement or deed of sale.
  • Approved and authorised building plan
  • Applicant’s Title proof from the revenue records.
  • Latest receipts with regards to the property tax of the applicant are required.

Eligibility for Home Loan in Indian Bank

To apply for an Indian Bank housing loan, applicants should fulfil the following eligibility criteria.

  • The minimum and maximum age of applicant should be 18 and 60 years respectively.
  • Salaried applicants should have a work experience of minimum three years.
  • The businessmen, self-employed individuals, professionals should have minimum three years of work experience.
  • The pension taking applicants are also eligible for applying for loans only if they have the ability to repay.

Features of Indian Bank Home Loan Scheme

  • Applicants can avail a home loan for purchasing, constructing, extension, repair, or renovation of the house.
  • The amount of home loan from Indian Bank that one can apply can be a maximum of Rs.10 crore.
  • Applicants can avail home loans to the maximum of Rs.5 lakhs for repairs and renovations of the existing house.

Indian Bank offers margins for home loans in the following range.

  • 10% of loan application up to Rs.20 lakhs.
  • 20% of loan applications between Rs.20 lakhs and Rs.75 lakhs.
  • 25% of loan applications for more than Rs.75 lakhs.
  • 30% of loan applications for repairs or renovations.

The scheme of the Indian bank home loan have some other features like the following.

  • Attractive interest rates of the range between 9.55% to 9.75%.
  • No prepayment and foreclosure charges.
  • A loan tenure of 120 months for repairs and renovations.
  • One can repay the loans at low EMIs.

Indian Bank Car Loan EMI Calculator

Applying for a car loan in Indian Bank is an easy task. But repaying the money is a different aspect. When you plan for availing a car loan, make an assessment of your financial situation to understand the repayment. To help you in this proper decision making procedure, here is the Indian Bank EMI calculator for car loans. You can know your monthly repayment amount, interest rate and the cost towards a car loan. The inputs like loan tenure, loan amount, interest rate are minimal details to use Car loan EMI calculator of Indian Bank. Moreover, using the Indian Bank calculator for car loans is a matter of seconds. Here is the procedure of using it.

How to Use Indian Bank Car Loan Calculator?

  1. Click on the link below to use Indian Bank EMI calculator for car loans.
  2. The EMI calculator for Indian Bank Car Loans appears on your screen.
  3. Enter the details of Car loan interest rate in Indian bank, loan amount, and loan tenure.
  4. Check whether your details are correct or not.
  5. Then click on “calculate.”
  6. The monthly instalment amount for loan repayment will be displayed on your screen.

So, to make use of the Indian bank EMI Calculator for Car loans, click the link below.

Indian Bank Car Loan Rate Calculator

Indian Bank Car Loan Interest Rate

A new lending rate system of Marginal Cost Based Lending Rate of MCLR is issued by the Reserve Bank of India. It helps to make the interest rates on car loans of various commercial banks standard. This lending system is applicable for the Indian Bank Car Loan Scheme.

The existing Indian Bank car loan borrowers can continue the base rate or migrate to the new lending system. However, the present Indian Bank Car Loan Base Rate is 9.65%.

Indian Bank Marginal Cost Based Lending Rate for New Borrowers is the following.

Benchmark Tenure for MCLR 1 year
Rate for Benchmark MCLR 9.60%
Interest Rate 9.95% :  MCLR + Spread

The following MCLR benchmark rates will alternatively affect the new car loan interest rates.

MCLR Rates of Interest on Indian Bank Car Loans

MCLR Car Loan Interest Rate in Indian Bank
Loan Tenure MCLR Percentage
Overnight 9.20%
1 month 9.25%
3 months 9.30%
6 months 9.35%
1 year 9.45%
3 years 9.55%
5 years 9.70%

Documents Required for Indian Bank Car Loan Scheme

The candidates applying for Indian bank car loan should submit the following documents to the Bank.

  • Indian Bank Car Loan Application Form with a passport size photograph.
  • Identity proof.
  • Residence proof.
  • Proof of business.
  • Employment proof.
  • Proof of income source.

Identity Proofs include the following.

  • PAN card.
  • Voter ID.
  • Passport
  • Driving License

Following are the documents of address proof.

  • Electricity bill
  • Telephone bill
  • Passport
  • Property tax receipt
  • Voter ID

The proof of employment includes the salary certificate. Self-employed businessmen and professionals should submit the balance sheet of past 3 years. Along with income tax returns, wealth tax returns for three years, driving license and quotation for a new vehicle from the authorised dealer.

Features of Indian Bank Car Loan

The individuals availing a loan for their new four wheelers can enjoy the following features. Loan tenures of Indian bank are flexible with attractive interest rates. They are also affordable with a motto of targeting large customer base in India. So, avail a car loan from Indian Bank today to get the best financial features of your car loan.

  • Salaried employees, businessmen, professionals, bank staff, NRIs, pensioners are eligible for Indian Bank loan.
  • The employees of other banks wth at least 3 years of experience can avail car loan with an NOC from their employer.
  • Indian bank offers loans for cars to a maximum amount or quantum of loan is of Rs.2 crores.
  • Processing fee for a car loan in Indian Bank is 0.228% of the total amount.
  • The maximum tenure for loan repayment is 84 months without a moratorium or a holiday period.
  • Loan margin of Indian Bank car loan that is to be brought by borrowers is 15%.
  • As a security for a car loan, one should submit the hypothecation of the new vehicle.
  • If the loan amount exceeds Rs.10 lakhs, then one should submit additional security collaterals.
  • These additionals include fixed deposit receipts, LIC policy receipts, NSCs or mortgage of any immovable property.

Eligibility Criteria for Indian Bank Car loan Application

  • The customers who possess a minimum gross monthly salary of Rs.20,000 can avail Indian Bank car loan.
  • Salaried employees can get 20 times the gross salary per month addition to the spouse’s income as the joint applicant.
  • One should ensure that the net home pay should be at least 40% of the gross income. This should be after the deduction of Indian Bank car loan EMI amount.
  • Businessmen and self-employed professionals can avail loan equal to their income of 20 months.
  • The bank calculates the loan amount according to the average income earned by them in the past two years.
  • Meanwhile, Indian Bank considers the individual’s repayment capacity during the car loan sanctioning.
Updated: March 31, 2017 — 5:56 am

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