IDBI Bank Home Loan
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Home Loan Banks
IDBI Bank Home Loan
8.05% - 13.45%
1% - 5%
₹10K - ₹50Cr
Tenure(1 - 5 Years)
Features & Benefits of IDBI Bank Home Loan
The IDBI Bank home loan provides financial aid to citizens so that they can conveniently facilitate real estate-related transactions. The IDBI bank Housing loan is offered to customers at an attractive interest rate and entails various facilities that enable the consumers to obtain funds to acquire their dream home. The IDBI Bank allows the lucrative option to obtain housing loans under the Pradhan Mantri Awas Yojana scheme. The processing fees on the IDBI Housing loan are also relinquished for PMAY cases and inward balance transfers. The IDBI bank has also designed diverse avenues for the loan recipient to ease repayment.
The IDBI Bank offers the following features and benefits to the customers:
The bank offers a loan tenure of up to 30 and 20 years to salaried and self-employed individuals, respectively. This long tenure ensures that the loan repayments are manageable for the borrowers.
The borrower can also avail of the top-up facility to secure additional funds from the bank. IDBI Bank offers customers a top-up facility of up to 100%. However, it is to be noted that the borrowers are required to maintain a punctual repayment track record before applying for this facility.
The bank offers a diverse assortment of customized loan products to its customer base along with home loans such as home loan interest savers, home loan top-ups, home improvement and extension loans, home loan refinancing facilities etc., to cater to varying requirements.
The borrowers can also avail of multiple repayment options from the bank, such as the flexible loan instalment plan, Step and Step down repayment facility and tranche-based EMIs.
IDBI Bank Home Loan Overview
The IBDI Bank offers a diverse range of loan and investment products to cater to the diverse requirements of customers in India. The facility-rich home loan solutions that the bank offers are designed with an easy disbursement process for the convenience of the customers. The IDBI housing loan offers a maximum tenure of 30 years to salaried customers. However, if the borrower is a self-employed professional or a non-professional, the maximum tenure set for the loan is 20 years.
IDBI Bank Home Loan
|Repo Rate||6.90% - 8.85% per annum|
|Loan Amount||The amount is subject to the loan applicant and at the bank's discretion. However, the loan amount can also concern with the property value percentage. Up to Rs 30 Lakhs: 90% of the property value Rs 30 Lakhs to Rs 75 Lakhs: up to 80% of property value Above 75 Lakhs: 75% of property value|
|Repayment Tenure||Upto 30 Years: Salaried Employees Upto 20 Years: Self-employed professionals Upto 20 Years: Self-employed non-professionals|
|Processing Fee||As per the Bank|
|Pre-Payment/foreclosure Penalty||No Penalty would be levied on Pre-payment|
Eligibility Criteria of IDBI Bank Home Loan
The applicant applying for the IDBI Bank housing loan must meet the following criteria:
The applicant's age can range from 22 to 70 years or retirement age (whichever is earlier). The repayment tenure offered to the salaried professional is 30 years. NRIs/PIOs are also eligible to apply.
The age limit set for self-employed individuals is 25 to 65 years (whichever is earlier). However, they are required to submit documents ensuring continuity of income.
IDBI Bank Home Loan Fees and Charges
The applicant has to bear the following charges when processing an IDBI Bank Home Loan.
|Function||Fee and Charges|
|Penal Interest charges||2% of the overdue amount|
|Processing Fee||Ranges from Rs 3,500 to Rs 20,000 (with respect to the scheme)|
|Processing Fee for an Inward Balance Transfer||Nil|
|Renewal Charges (Loan Against Property)||0.25% of the loan amount|
|Charges on Reverse Mortgage Loan||0.50% of the loan amount|
|Legal and Technical Fee||Rs 2,500|
|Inspection Charges of Property||Rs 750 - Rs 2,500 (Home loan variants) Rs 1,500 - Rs 5,000 (Loan against property)|
|Retrieval Charges for Documents||Rs 1,000 - Rs 2,500|
|Property Release/Swapping Charges||Rs 10,000 - Rs 25,000|
Documents Required for IDBI Bank Home Loan
The applicant must produce the following documents to facilitate the home loan application process.
- Successfully filled application form along with photographs.
- Proof of Address and Identity
- Bank Statement of the applicant. (Last six months)
- Salary slip of the last three months (Salaried employees)
- Income Tax Returns
How Does the EMI Calculation Work for an IDBI Bank Home Loan?The IDBI Bank employs the following formulae to compute the EMIs against the home loan: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] Where,
- P stands for the Principal Amount
- R stands for Interest Rates
- N represents the number of years
The individual inclined to assess EMIs on their home loan can also take the assistance of various EMI calculators available online.
Balance Transfer IDBI Bank Home Loan
The IDBI Bank home loan provides a loan transfer facility where the investor can transfer the loan balance from another bank to the IDBI Bank. The customers availing of the scheme can profit from the lower interest rate, which goes as low as 8% per annum.
It is to be noted that the applicant for the facility must have punctual repayment of 6-12 months on their home loan. They should also possess a satisfactory CIBIL score and meet the eligibility criteria set by the bank. They can also avail of an extension on their loan repayment concerning their loan amount.
IDBI Bank Home Loan Customer Care Number
IDBI Bank has established state-of-the-art customer service to cater to the diverse inquiries of customers. The individual can contact the following customer care numbers to understand the IDBI Home Loan process better:
- Customer Care Number: 1800-209-4324, 1800-22-1070
- Call Center: 022-67719100, 0091-22-67719100
- Hotlisting: 1800-22-6999
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Idbi Bank's Calculators
Loan Home Page
Idbi Bank's Other Products
Idbi Bank's IFSC Codes
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- Idbi Bank Chandigarh
- Idbi Bank Chhattisgarh
- Idbi Bank Dadra and Nagar Haveli
- Idbi Bank Delhi
- Idbi Bank Gujarat
- Idbi Bank Haryana
- Idbi Bank Himachal Pradesh
- Idbi Bank Jammu and Kashmir
- Idbi Bank Jharkhand
- Idbi Bank Karnataka
- Idbi Bank Kerala
- Idbi Bank Madhya Pradesh
- Idbi Bank Maharashtra
- Idbi Bank Manipur
- Idbi Bank Meghalaya
- Idbi Bank Mizoram
- Idbi Bank Nagaland
- Idbi Bank Odisha
- Idbi Bank Puducherry
- Idbi Bank Punjab
- Idbi Bank Rajasthan
- Idbi Bank Tamil Nadu
- Idbi Bank Telangana
- Idbi Bank Tripura
- Idbi Bank Uttarakhand
- Idbi Bank Uttar Pradesh
- Idbi Bank West Bengal
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- karnataka bank Home Loan
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- Ujjivan Small Finance Bank Home Loan
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- Cholamandalam Finance Home Loan
- Deutsche Bank Home Loan
Mutual Fund Scheme
Mutual Fund Sector
Gold & Silver Rate
From refinancing to reducing your interest, we have the answers right here.
Does IDBI Bank Provide Home Loan at the best rate?
The IDBI Bank offers attractive interest rates to customers availing of loans from the IDBI Bank.
What is the interest rate of a Home Loan in IDBI Bank?
The interest rate on the IDBI Home Loan is with respect to the scheme under which the applicant is availing of the loan. Other factors are also assessed before determining the rate of interest.
What are the benefits IDBI Bank Provides on Home Loan?
The IDBI Bank offers a variety of facilities to the customers availing of home loans. They can also choose from a diverse selection of repayment options.
Does IDBI Bank have a fixed rate of interest on a home loan?
No, the interest rate on a loan is with respect to various factors.
Does IDBI Bank Checks for CIBIL Score for Home Loan?
The IDBI Bank evaluates the CIBIL score of the applicant for a home loan to assess the applicant’s repayment history.
What is the maximum and minimum housing loan amount I can get from IDBI Bank?
The maximum amount one can get for a home loan concerns the application and market value of the property.
What are the KYC documents I will have to submit to apply for a home loan from IDBI Bank?
The applicant must produce identification and address proof such as Aadhaar Card, PAN card, and Voter ID Card.
Will I be charged a penalty for not paying my EMI on the IDBI Bank housing loan?
Yes, the bank would charge a penalty if the borrower defaults on the repayments.
What is the processing fee on an IDBI Bank home loan?
The processing fee for an IDBI home loan ranges from Rs 3,500 to Rs 20,000 with respect to the scheme under which the applicant has applied.
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