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 its customers. IDBI was established in 1964 by an 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 6.90% onwards per annum with less paperwork. It is available for both salaried and self-employed borrowers including NRIs.
IDBI Bank offers a loan amount of up to Rs. 10 Crores with a repayment tenure of up to 30 Years.
|
Particulars |
Details |
|
RLLR Rate |
6.90% |
|
Loan Amount |
Up to 90% of the property cost |
|
Loan Tenure |
Up to 30 Years |
|
Processing Fee |
Rs. 2,500 - Rs. 5,000 |
|
Penal Interest Rate |
2% per annum |
|
Prepayment/Foreclosure Charges |
NIL |
No preclosure and Part-payment fee for the floating-rate loan.
No guarantor required.
Home Loan granted to age ranging between 18 Years to 70 Years.
Simple and quick documentation process.
Attractive rate of interest ranging from 6.90% to 8.80% per annum.
Quick loan processing.
Special discount for Women.
Available for salaried and self-employed borrowers(including NRIs).
|
IDBI Bank Home Loan Scheme |
Interest Rates(p.a.) |
|
IDBI Home Loan |
|
|
Home Loan Interest Saver |
|
|
IDBI Neev Home Loan |
7.60% - 8.20% |
|
IDBI Neev 2.0 |
7.90% to 8.50% |
|
IDBI Rural/Semi-Urban Housing Finance |
NA |
|
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 |
Salaried employees, self-employed 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 |
|
ID Proof |
|
|
Address Proof |
|
|
Income Proof |
For Salaried
For Self-employed
|
|
Others |
|
|
BANKS |
INTEREST RATE |
|
7.75% to 9.40% |
|
|
6.95% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
How to Apply for IDBI Bank Home Loan?
There are two ways to apply for home loans from IDBI Bank :
1. Offline method: By visiting the nearest bank branch
2. Online Method :
First of all first visit to the official website of IDBI Bank
In the retail section go to the “loans”
Now click on the home loan
After that go to “Home loan”
Now click on apply now and fill the application form
4. IDBI Bank Loan Against Property
A home loan calculator helps you to know the amount of EMIs that you need to pay towards your Home Loan.
As a home loan can go from 20 - 30 years, so you have to be aware of your monthly installments in advance. For that, you can use the EMI Calculator provided by BankSathi to calculate your monthly EMIs on your Home Loan.
The formula for the same is:
[P x R x (1+R)^N]/[(1+R)^N-1], where
P stands for the ‘Principal Amount’.
R stands for the rate of interest set by the bank.
N is the number of years for which the loan has been taken.
1. By customer care contact number : 18002094324
2. By customer care email id : [email protected]
No pre-closure and part payment charges for floating rate loan and up to 2% for fixed-rate loan of IDBI Bank home loan.
The minimum loan amount is Rs.5 lakh and the maximum loan amount is Rs.10 crore of IDBI Bank home loan.
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
There are two ways to apply for home loans from IDBI Bank :
1. Offline method: By visiting the nearest bank branch
2. Online Method :
First of all first visit to the official website of IDBI Bank
In the retail section go to the “loans”
Now click on the home loan
After that go to “Home loan”
Now click on apply now and fill the application form
The tenure period of IDBI Bank for a 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.
Last Updated on : 15/Mar/2021Know More About
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
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