IndusInd Bank Plot Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Turn your dream home into reality

Rates as low as 6.90%*
Loans Up to 15 Crore
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Features of IndusInd Bank Plot Loan

Interest Rate Starts from 8.00%
Processing Fees 0.50% – 1.00%
Loan Tenure 5 years to 15 years
Prepayment  Zero
EMI Rs. 1044 per lakh 

Eligibility Criteria for IndusInd Bank Plot Loan

  • IndusInd Bank offers loans to earners and self-employed people, however, there are certain eligibility procedures to be met.
  • Eligible age is between 21 and 60 years.
  • The time-period of both types of applicants varies according to age.
  • Adding an applicant can also increase your payment capacity.
  • The credit provider you have should have a good income and a clean CIBIL score i.e. above 650.

Benefits of IndusInd Bank Plot Loan

IndusInd bank Plot Loan
  • IndusInd Bank Investment Interest Rates start from @ 8.00%
  • IndusInd Bank charges a processing fee of up to 1.00% and a maximum of 10,000.
  • The loan period is from five to fifteen years and can be extended.
  • IndusInd Bank allows home loan repayments without floating interest rate costs.

Plot Loan

Plot Loans are a type of loan offered by many Indian banks to certain eligible applicants. Taken by people who wish to build their dream houses. Plant loans such as IndusInd Bank Plot Loan are loans that benefit everyone.

This loan is a separate institution offered by banks that are designed to meet a specific need. The difference between the two should be made known to the other party, before applying for a loan.

Land Loan Interest Rates

The interest rate is the same for both, however, it varies from bank to bank to provide higher interest rates on land loans instead of home loans.

Loan to Value Ratio

This means the amount of credit the borrower will receive on his or her property. LTV is lower in terms of land acquisition than in home loans.

Lower Tenure

Land Loans offer a short period of up to 15 years. Home loans, on the other hand, offer 30 years of ownership.

Tax Benefits

A home loan qualifies for tax deduction of the tax amount from the actual amount specified under Section 80C of the Income Tax Act. No tax benefits for plot loans.

Prepayment Penalty

Floating interest loans granted to certain lenders do not have a prepayment of both home loans and land loans but both can charge 2-4% of the fine if the non-borrower borrows money.

Types of Plot Loans IndusInd Bank provides

Plot Loans

Plot loans are only available to buy land. One can decide what to do with the earth. This is dangerous because they have no tax benefits. Loan loans should be taken from the land in the same municipality.

Plot with Construction Loans

Construction loans with plot loans are not only taken with the purchase of land but also built with it. Construction should begin and end within the allotted time, otherwise the interest rate increases.

Who Can Apply for a Self-employed IndusInd Bank Plot Loan

LOAN AMOUNT MAXIMUM FUNDING
Rs. 30 lakh to up to 75 lakh. Up to 80%
Rs. 75 lakh. Up to 75%

Types of Plot Loans for Self-employed Individuals

Adjustable-Rate Loan: This follows the Retail Prime Lending Rate which gets updated every six months. Hence, the interest rate increases which affects the EMI rates, which in turn lowers the principal amount.

TrueFixed Plot Loan: This loan provides a fixed rate and a fixed rate. The rate changes after 2 years.

IndusInd Bank Plot Loan Interest Rate for Self-employed Individuals

Adjustable Plot Loan Rate

Loan Home Loan Interest Rates (%)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan- 2 Year Fixed Rate Variant

Loan Slab Home Loan Interest Rates (%)
For Women* (up to 30 Lakhs) 7.50 to 8.0
For Others* (up to 30 Lakhs) 7.55 to 8.05
For Women* (Above 30 Lakhs) 7.65 to 8.15
For Others* (Above 30 Lakhs) 7.70 to 8.20
For Women* (75.01 Lakhs & Above) 7.75 to 8.25
For Others*(75.01 Lakhs & Above) 7.80 to 8.30

IndusInd Bank Plot Loans for Self-employed Non-professionals

Adjustable Home Loan Rate

Loan Interest Rates (%)
For Women* (Up to 30 Lakhs) 7.20 to 7.70
For Others* (Up to 30 Lakhs) 7.25 to 7.75
For Women* (Above 30 Lakhs) 7.45 to 7.95
For Others* (Above 30 Lakhs) 7.50 to 8
For Women* ( 75.01 Lakhs & Above) 7.55 to 8.05

TruFixed Loan-2 Year Fixed Rate Variant

Loan Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.65 to 8.15
For Others* (up to 30 Lakhs) 7.70 to 8.20
For Women* (Above 30 Lakhs) 7.80 to 8.30
For Others* (Above 30 Lakhs) 7.85 to 8.35
For Women* ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others*( 75.01 Lakhs & Above) 7.95 to 8.45

IndusInd Bank Documents Required for Self-employed Individuals

ID Proof  Valid Passport/ Driver’s License (Any one)
Business Proof Copy of partnership deed, etc.
Residence Proof Recent Property Agreement or Utility Bill of up to 3 months
Other Requirements Filled up application form and 2 passports size photos
Property Documents Conveyance Deed, Sales Deed, Allotment Letter, Copy of an approved plan of construction

IndusInd Bank Plot Loan Fees for Self-employed Individuals

Processing Fees: 

The processing fees for the IndusInd Bank Plot Loan is Rs.2,500-5,000.

Pre-payment Charges

Adjustable-Rate Home Loans – No advance payment is required
– On loans allowed for individual lenders in the firm, company, etc.
– The customer will have to submit documents requested by IndusInd Bank, to verify the source of funding.
Fixed-Rate Home Loans – No prepayment fee will apply
– The customer must submit the documents requested by IndusInd Bank.
– Prepayments will be 2% plus tax and residual costs must be paid in advance by any financial institution or bank.
Fixed and Variable Rate Loans During the Estimated Rate:
– Prepayments will be 2%, plus applicable taxes and legal fees for prepaid payments to financial institutions or any banks, and will apply to all prepayment / full payments.
– The client must submit the documents requested by the IndusInd Bank, to verify the source of the funds in advance of the loan.

During the Variable Rate:
– No prepayment fee will apply
– For loans granted to individual lenders by the firm, company, etc. A prepaid fee of 2% plus tax and legal fees, as it may apply from time to time, is payable.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change Up to 50% of the principal outstanding amount or a cap of 50,000 Rs plus taxes whichever is lower.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once Up to 50% of the principal outstanding amount or a cap of 50,000 rupees plus taxes whichever is lower.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque Dishonour Charges

The Cheque Dishonour Charges are 200 Rs.

Fees on Account of External Opinion

Must be paid directly to the required person.. 

Property Insurance

Certain amount to the insurance providers must be paid. 

Statutory / Regulatory Charges

Stamp duty must be paid by applicant. 

List of Documents

Up to 500 Rs. 

Photocopy of Documents

Up to 500 Rs. 

Increase/Decrease in Loan Term

Up to 500 Rs. 

Disbursement Cheque Cancellation Charge Post Disbursement

Up to 200 Rs.

Re-appraisal of Loan (6 Months)

Up to 2000 Rs plus applicable tax. 

PDC Swap

Up to 200 Rs. 

IndusInd Bank Plot Loan for Salaried Individuals

Who Can Apply for a Salaried IndusInd Plot Loan

LOAN MAXIMUM FUNDING
Rs. 30 lakh to up to 75 lakh. Up to 80%
Rs. 75 lakh. Up to 75%

Types of Plot Loans for Salaried Individuals

IndusInd Plot Loan has various kinds of plot loans that any salaried individual can choose from:

Adjustable-Rate Loan: This follows the Retail Prime Lending Rate which gets updated every six months. Hence, the interest rate increases which affects the EMI rates, which in turn lowers the principal amount.

TrueFixed Plot Loan: This loan provides a fixed rate and a fixed rate. The rate changes after 2 years.

IndusInd Plot Loan Interest Rate for Salaried Individuals

Adjustable Plot Loan Rate: 

Loan Home Loan Interest Rates (%)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan- 2 Year Fixed Rate Variant:

Loan Home Loan Interest Rates (%)
For Women* (up to 30 Lakhs) 7.50 to 8.0
For Others* (up to 30 Lakhs) 7.55 to 8.05
For Women* (Above 30 Lakhs) 7.65 to 8.15
For Others* (Above 30 Lakhs) 7.70 to 8.20
For Women* (75.01 Lakhs & Above) 7.75 to 8.25
For Others*(75.01 Lakhs & Above) 7.80 to 8.30

IndusInd Plot Loan Documents Required for a Salaried Individual

ID Proof (Any One) Passport, Driver’s License, Voter ID, Pan Card
Proof of Address (Any One) Registered Rent Agreement/ Utility Bill, etc.
Property Documents Sales deed, Allotment letter, Possession letter, etc.
Income Documents 6 months salary slip, 2 years Form 16, 6 months bank statements showing salary credit and any EMI debt
Others Requirements Filled up loan application form, 2 passports size photos

IndusInd Plot Loan fees for Salaried Individuals

Processing Fees: 

The processing fees for the IndusInd Plot Loan starts from Rs 2,500.

Pre-payment Charges

Adjustable-Rate Home Loans – No advance payment is required
– On loans allowed for individual lenders in the firm, company, etc.
– The customer will have to submit documents requested by IndusInd Bank, to verify the source of funding.
Fixed-Rate Home Loans – No prepayment fee will apply
– The customer must submit the documents requested by IndusInd Bank.
– Prepayments will be 2% plus tax and residual costs must be paid in advance by any financial institution or bank.
Fixed and Variable Rate Loans During the Estimated Rate:
– Prepayments will be 2%, plus applicable taxes and legal fees for prepaid payments to financial institutions or any banks, and will apply to all prepayment / full payments.
– The client must submit the documents requested by the IndusInd Bank, to verify the source of the funds in advance of the loan.

During the Variable Rate:
– No prepayment fee will apply
– For loans granted to individual lenders by the firm, company, etc. A prepaid fee of 2% plus tax and legal fees, as it may apply from time to time, is payable.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans  Conversion fees On conversion On every spread change Up to 50% of the principal outstanding or a cap of Rs 50,000 plus taxes whichever is lower.
Switch to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once Up to 50% of the principal outstanding or a cap of Rs 50,000 plus taxes whichever is lower.
Switch from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding amount plus taxes at the time of conversion.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque Dishonour Charges

The Cheque Dishonour Charges are 200 Rs.

Fees on Account of External Opinion

Must be paid directly to the required person.. 

Property Insurance

Certain amount to the insurance providers must be paid. 

Statutory / Regulatory Charges

Stamp duty must be paid by applicant. 

List of Documents

Up to 500 Rs. 

Photocopy of Documents

Up to 500 Rs. 

Increase/Decrease in Loan Term

Up to 500 Rs. 

Disbursement Cheque Cancellation Charge Post Disbursement

Up to 200 Rs.

Re-appraisal of Loan (6 Months)

Up to 2000 Rs plus applicable tax. 

PDC Swap

Up to 200 Rs. 

How to apply for IndusInd Bank Plot Loan With Dialabank

  • Visit Dialabank to apply for IndusInd Bank Plot Loan.
  • When prompted fill in the form and submit the same.
  • Call at 9878981166 if facing any issues or need any help.

Additional tips to get IndusInd Bank Plot Loan Easily

  • Check your eligibility before applying
  • See the website for more details
  • Clean-up your Credit
  • Restrict your lending

IndusInd Bank Plot loan with Construction vs Home Loan

Parameters Plot Loans with Construction Home Loans
Tenure Up to 15 years Up to 30 years
Tax Benefits The plot loan benefits can be claimed after the construction of a home on the plot Home Loans qualify for a tax deduction on the payment of the actual amount.
Interest Starts at 7.00% Starts from 6.75%
LTV Similar to home loans Up to 90% of the property’s cost
Prepayment value No No

FAQs

What is the Plot loan interest rate in IndusInd Bank?

Starting from 8.00% onwards.

What is IndusInd Bank Plot Loan?

Plot Loans are a type of loan offered by many Indian banks to certain eligible applicants. Taken by people who wish to build their dream houses. Plant loans such as IndusInd Bank Plot Loan are loans that benefit everyone. This loan is a separate institution offered by banks that are designed to meet a specific need. The difference between the two should be made known to the other party, before applying for a loan.

How much processing fee is applicable on IndusInd Bank Plot loan?

Usually it is 0.50% – 1% of the loan amount.

What is the loan tenure of the IndusInd Bank Plot loan?

The IndusInd Bank plot loan tenure is 5 to 15 years.

How much EMI per Lakh can be fixed on IndusInd Bank Plot Loan?

The IndusInd Bank plot loan EMI per Lakh is ₹ 1,044.

How can I avail plot loan from IndusInd Bank Bank?

IndusInd Bank plot loan can be availed if you are eligible for the plot loan as per IndusInd Bank.

How to Apply for IndusInd Bank Plot loan?

Visit the website of IndusInd Bank or by visitthe website of Dialabank and proceed accordingly.

How to repay IndusInd Bank plot loan earlier than the schedule?

Visit the IndusInd Bank and check if you are eligible for the earlier repayment.

Is it possible to repay my loan earlier than the schedule?

Yes, its is definitely allowed by IndusInd Bank to repay the loan earlier than scheduled.

How to check IndusInd Bank + Plot Loan eligibility?

For plot loan eligibility of IndusInd Bank plot loan the applicant must visit the website of IndusInd Bank or also can contact Dialabank to check all the criteria.

What is the IndusInd Bank Plot loan phone number?

Call – 9878981166 for IndusInd Bank plot loan.

What is the IndusInd Bank plot loan interest rate for woman?

Starting at 7.05%, individual women are provided cheaper interest rates than normal interest rates by IndusInd Bank.

What is IndusInd Bank plot loan interest rates for salaried individuals?

Starting from 8.00% for Salaried Individuals.

What is IndusInd Bank plot loan interest rates for self-employed individuals?

Starting from 8.00% for Self-Employed.

What is IndusInd Bank plot loan interest rates for self-employed non-professionals?

 8.00% is the interest rate for IndusInd Bank plot loan for Self-Employed Non-Professionals.

How is a plot loan different from a home loan?

Some differences can be:

  • The plot loan tenure for the IndusInd Bank can be 15 years whereas for home loan tenure can be 30 years.
  • No tax benefits in IndusInd Bank plot loan but IndusInd Bank home loan owners can enjoy tax benefits.

 Can I take a plot loan along with a home loan?

Usually it is not allowed to get multiple loans by IndusInd Bank even if eligible, it is advisable to contact the nearest IndusInd Bank Branch for the same.

 What is the maximum amount that I can take as a loan?

Loan amount provided by IndusInd Bank totally depends upon the applicants CIBIL score, past loan history and most importantly the plot documents produced to the bank at the time. 

 Can a plot loan finance an investment in any plot, anywhere?

Yes, the plot loan can be used anywhere within India.

 What is a Balance Transfer on Plot Loan?

By transferring your remaining loan to other financial institutions that offers a lower interest rate, a balance transfer for IndusInd Bank plot loan helps you lower your EMIs.

Do I get any tax benefits on a plot loan?

No, at the moment no tax benefits are there with IndusInd Bank plot loan.

  How many years can I keep the plot of land before starting construction?

For IndusInd Bank plot loan with Construction related query please contact the bank for more information regarding the scheme or call Dialabank at 9878981166.

Table of Contents

Menu