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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 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.

IDBI Bank  Home Loan Highlights

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

IDBI Bank  Home Loan Features & Benefits

  • 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 Interest Rates 

IDBI Bank  Home Loan Scheme

Interest Rates(p.a.)

IDBI Home Loan

  • For Salaried : 6.80% - 8.40%

  • For Self-Employed : 7.15% - 9.90%

Home Loan Interest Saver

  • For Salaried : 7.40% - 8.90%

  • For Self-Employed : 7.65% - 10.40%

IDBI Neev Home Loan

7.60% - 8.20%

IDBI Neev 2.0

7.90% to 8.50%

IDBI Rural/Semi-Urban Housing Finance

NA

 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-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 

Document Required for IDBI Bank Home Loan

ID Proof

  • Aadhar Card

  • PAN Card

  • Driving License

  • Voter’s ID Card

  • Employment ID

Address Proof

  • Aadhar Card

  • PAN Card

  • Driving License

  • Voter’s ID Card

  • Employment ID

  • Rental Agreement

Income Proof

For Salaried

  • 3 months salary slips

  • Last 2 years ITR or FORM 16

  • Bank Statement for last 2 years

For Self-employed

  • 2 years ITR

  • Audited profit & loss account or Balance Sheet

  • Bank Statement for last 6 months

Others

  • Fully filled application form

  • Passport size photograph

Compare other bank home loan interest rates:

BANKS 

INTEREST RATE

AXIS Bank Home Loan

7.75% to 9.40%

SBI Regular Home Loan

6.95% 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

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 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

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

IDBI Bank  Home Loan EMI Calculator

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.

How to contact with IDBI Bank

1. By customer care contact number : 18002094324

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

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. Are 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 up to 2% for fixed-rate loan of IDBI Bank home loan.

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

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

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

  • 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

 4. How to apply for an 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 

5. What is the tenure period of IDBI Bank home loans?

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/2021

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