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IDBI BANK HOME LOAN 

About IDBI Bank Home Loan : 

The full form of IDBI Industrial Development Bank of India. It is one of the largest commercial banks and offers banking and financial services to their customers. IDBI was established in 1964 by act of parliament and its headquarters is in Mumbai. It is one of 27 commercial banks owned by the government of India.

Home loans are offered to individuals who wish to purchase or construct a house. The processing is mortgaged to the land or as a security till the repayment of the loan, Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a home loan with ease..You all think that “how it is possible? To overcome this issue IDBI Bank came with an exciting opportunity i.e. IDBI Bank Home Loan. IDBI Bank offers a competitive and attractive rate of interest ranging from 7.80% to 8.80% per annum with less paperwork. It is available for both salaried and self employed borrowers including NRIs.

IDBI offers you home loan for various purposes :

  • Individual home loan

  • Home improvement loan

  • Home construction loan

  • Loan for NRIs

  • Plot loan

Benefits of IDBI Bank Home Loan :

1. No pre closure and part payment fee for floating rate loan 

2. No guarantor required

3. Home loan granted to age give up between 18 year to 70 years

4. Simple and quick documentation process

5. Attractive rate of interest ranging from 7.80% to 8.80% per annum 

6. Quick loan processing 

7. Special discounts for women

8. Available for salaried and self employed borrowers (including NRIs)

Fees and charges for IDBI Bank Home Loan :

TYPE 

CHARGES

Processing fee 

Rs.2500 to Rs.5000 plus applicable tax depending on the loan amount

Part payment and pre closure charges

For floating rate loan = NIL

For fixed rate loan = Upto 2%

Foreclosure charges 

For individuals = NIL

For others = 2% on the outstanding loan amount plus tax

Copy of property documents 

Rs.225

Default in payment 

Rs.300

Swapping charges 

Rs.575

Duplicate certificate / Interest certificate

Rs.115

CIBIL copy of credit certificate

Rs.50

Re-issuance of DD

Rs.115

Penal Interest

2% per annum for the overdue amount

Duplicate statement cheque 

Rs.115

Legal charges 

Rs.2000 plus GST (metro-urban)

Rs.1500 plus GST (semi urban and rural urban)

Loan for issuance premium

NIL

Eligibility Criteria for IDBI Bank Home Loan :

ELIGIBILITY

Salaried employees, self employment professionals and self employed non professionals 

RESIDENT STATUS 

Indian Resident and NRIs

AGE

For salaried employees = 22 years to 70 years 

For self employed professionals = 25 years to 70 years 

For self employed non professionals = 25 years to 65 years 

Documents Required for IDBI Bank Home Loan :

1.Fully filled signed application form 

2. Passport size photograph

3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id

4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id 

5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited

6. For Self employed individuals / professionals = 2  years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.

Schemes of IDBI Bank for home loan :

SCHEMES 

INTEREST RATE 

Home loan interest saver scheme

8.50%

Floating home loan scheme

7.80% to 8.80%

IDBI neev home loan scheme 

8.50% to 9.10%

Idbi rural. Semi urban house finance scheme

9.60%

Turnover based home loan scheme

11.35%

Pradhan mantri awas yojna scheme

6.50%

Compare other bank home loan interest rates :

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

AXIS Bank Empower Home Loan

Start at 9.55% onwards 

AXIS Bank Super Saver Home Loan

8.15% to 8.30%

AXIS Bank TopUp Loan

8.90% to 9.15%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan

11.005 to 11.505

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

How to apply for IDBI Bank Home Loans :

There are two ways to apply for home loans from IDBI Bank :

1. Offline method : By visiting nearest bank branch

2. Online Method :

  • First of all first visit to official website of IDBI Bank

  • In retail section go to the “loans”

  • Now click in home loan

  • After that go to “Home loan”

  • Now click on apply now and fill application form 

Other products of IDBI Bank :

1. IDBI Bank Car loan 

2. IDBI Bank Education loan

3. IDBI Bank Credit Cards

4. IDBI Bank Loan Against Property

5. IDBI Bank Personal Loan

How to contact with IDBI Bank :

1. By customer care contact number : 18002094324

2. By customer care email id : customercare@idbi.co.in

How to calculator EMI of IDBI Bank Home Loan :

The following formula is used to calculate EMI of IDBI Bank Home Loan :

EMI = [PXRX(1+R)^N] / [(1+R)^N-1]

Where,

P stands for Loan Amount

R stands for Interest Rate

N stands for tenure in number of months 

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

IDBI Bank Home Loan Frequently Asked Questions :

1. How much age of the customer is required to take a home loan from IDBI Bank?

For salaried employees the age is 22 years to 70 years, For self employed professionals the age is 25 years to 70 years and For self employed non professionals the age is 25 years to 65 years required to take a home loan from IDBI Bank.

2. What is the minimum and maximum loan amount of IDBI Bank for home loan?

The minimum loan amount is Rs.5 lakh and maximum loan amount is Rs.10 crore  of IDBI Bank home loan.

3. How to apply for an IDBI Bank home loan?

You can apply offline by visiting the nearest bank branch or online for an IDBI Bank home loan.

4. Is there any pre closure and part payment charges of IDBI Bank home loan?

No pre closure and part payment charges for floating rate loan and upto 2% for fixed rate loan of IDBI Bank home loan.

5. Who is eligible to take a home loan from IDBI Bank? 

Salaried employees, self employed professionals and self employed non professionals are eligible to take a home loan from IDBI Bank.

6. What is the tenure period of IDBI Bank for home loan?

The tenure period of IDBI Bank for home loan is for salaried employees the tenure is from 1 year to 30 years and for self employed professionals and non professionals the tenure period is from 1 year to 20 years.

7. How much interest rate is charged by IDBI Bank for home loan?

The interest rate of IDBI Bank for home loan is ranging from 7.80% to 8.80% per annum.

Last Updated on : 19/Aug/2020

Know More About

Idbi Bank Home Loan

You're eligible for a Idbi Bank Home Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Idbi Bank Home Loan Interest Rates

Updated on 25 Nov 2017

Idbi Bank Home Loan Details
Interest Rate (Monthly reducing balance) 7.8% - 8.8%
Processing Fees Rs.2500 to Rs.5000 plus applicable tax depending on the loan amount
Loan Tenure 1 year to 30 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959