An Indian Bank loan scheme for home loan borrowers to meet personal needs

A low-interest loan from Indian Bank to meet your urgent financial needs

Indian Bank IB Home Loan Plus

This loan helps housing loan borrowers meet their personal needs or pay off their existing loans. This is the perfect loan scheme for Indian Bank home loan borrowers who need additional funds for meeting financial exigencies.

Features of IB Home Loan Plus

Why this Loan?

  • The Indian Bank IB Home Loan Plus is meant for Indian Bank housing loan borrowers who need additional funds for personal needs
  • This is a secured loan and can be used by borrowers to consolidate their debts by paying off all other loans

Loan Amount

  • The maximum loan amount offered under this loan scheme is capped at Rs. 60 lakh. The actual loan amount offered is decided by the bank on a case-to-case basis


  • As of October 2020, the effective interest rate range for this loan is 8.65% to 9.25%

Repayment Period

  • This loan must be repaid within 10 years


  • All existing Indian bank home loan borrowers are eligible for this loan if they have satisfactory repayment track record for a minimum of 12 months

Security Needed

  • The bank accepts mortgage of residential property as well as primary charge of collateral pledged under the previous loan scheme

Margin Money (Borrowers Contribution to Total Cost)

  • The bank may charge up to 30% of the loan amount as margin

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a 20% margin means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • The bank charges up to 1.18% of the loan amount for processing the loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.
  • Property and existing loan related documents


Reference Facts

  • Indian Bank Website:
  • Headquarters: Chennai, Tamil Nadu
  • Call Centre Toll-Free Number: 1800 425 00 000