✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Check Eligibility

The rising real estate costs make it difficult for many to own a house with just savings alone. However, home loans are a great lending option that can help you work toward this dream, and achieve it with ease. The IDBI Bank Home Loan is one such facility, and it comes with competitive interest rates and flexible terms to borrowers.

Here is a table containing key IDBI Bank Home Loan details:

Interest Rate

8.65% p.a. onwards

Loan Tenure

Up to 20 years

Loan Amount

Up to 90% of the property’s value

Disclaimer: Loan specifics are subject to change at the lender’s discretion. 

IDBI Bank Home Loan Interest Rate & Charges 2024

Before applying for any loan, you must look at the interest rates offered by the lender. As such, it is important to know both the IDBI Home Loan interest rate and any other charges applicable. 

Here is a table with the details about the IDBI Bank Home Loan interest rate and charges.

Particulars

Rates and Charges

Interest Rate

8.65% - 10.75% (for salaried and self-employed professionals)

8.70% - 12.25% (for self-employed non-professionals)

IDBI Home Loan Processing Fee

0.50% of the loan amount + GST

Foreclosure Fee

NIL (On IDBI Bank Home Loans with a floating interest rate, and after 6 months of loan disbursement on fixed rate home loans)

2%-3% of the remaining balance (Before 6 months of loan disbursement on fixed-rate home loans)

Disclaimer: The interest rate and charges mentioned in the table above are subject to change at the lender’s discretion. 

Compare IDBI Bank Home Loan with Other Lenders

Before applying for a loan, it is advisable to compare interest rates and other terms of different lenders. The following table contains interest rates offered on home loans by partner lenders on Bajaj Markets.

Compare these rates with IDBI Bank Housing Loan interest rate to choose a lending facility financially more beneficial for you:

Name of the Partner

Interest Rates

Bajaj Housing Finance Limited

8.50% p.a. onwards

Home First Finance Company

9.50% p.a. onwards

ICICI Bank

9.00% p.a. onwards

India Shelter

10.50% p.a. onwards

Kotak Mahindra Bank

9.00% p.a. onwards 

LIC Housing Finance

8.65% p.a. onwards

PNB Housing Finance Limited

8.50% p.a. onwards

Shriram Housing Finance

11.50% p.a. onwards

Shubham Housing Finance

10.90% p.a. onwards

Union Bank of India

8.50% p.a. onwards

Disclaimer: The interest rates provided in the above table are subject to change at the lender’s discretion. 

IDBI Bank Home Loan EMI Calculator

Loan Amount
Tenure
Months
Rate of Interest
Home Loan
Your Monthly Home Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

If you have decided to go ahead with the IDBI Bank Housing Loan, you must know that home loans can be massive undertakings. Hence, their repayment tenure may even extend up to two, even three decades. 

To repay such a large amount, you will need to have a long-term plan in place. An IDBI Bank Home Loan EMI calculator in an online tool that can help you plan your budget accordingly. You can use it to determine your monthly outflow towards your IDBI Bank Housing Loan. 

Moreover, the IDBI Bank Home Loan EMI calculator provides the amortisation schedule of your loan, consisting of details about the: 

  • EMI amount

  • Principal and interest components payable 

  • Total interest payable

Use this information to plan prepayments and know exactly how much you are repaying with every EMI. 

Documents Required for IDBI Bank Home Loan

There are certain documents required for IDBI Bank Home Loan, and you will have to submit these along with your application form. 

Here is the IDBI Home Loan documents list:

  • Application form along with two photographs

  • Proof of Identity

  • Proof of Address

  • Bank Statement for last 6 months

  • Salary slips for last quarter and Form 16 (for salaried individuals) 

  • Professional practice licence (for self-employed professionals)

  • Proof of Business and Business Profile (for self-employed non-professionals)

  • Tax Returns of last 3 years (for self-employed professionals and non-professionals)

  • Profit/Loss Statement (for self-employed professionals and non-professionals)

IDBI Bank Home Loan Eligibility

To be eligible for IDBI Bank Home Loan, you need to fulfil certain requirements set out by the lender. Here are the IDBI Home Loan eligibility requirements:

1. Salaried Individuals (Including NRIs and PIOs)

  • Applicants must be at least 22 years of age

  • Applicant must be 70 years (or retirement age) by the end of the repayment tenure 

2. Self-employed Professionals and Non-Professionals 

  • The applicant must be at least 25 years of age 

  • The age of the applicant must not be over 65 years by the end of the tenure

Features and Benefits of IDBI Bank Home Loan

The following are some of the features and benefits of the IDBI Bank Housing Loan:

  • The IDBI Bank offers flexible repayment tenure on the home loan facility. The repayment tenure for the IDBI Bank Home Loan can be extended up to 30 years for salaried individuals and 20 years for self-employed individuals.

  • IDBI Bank also offers attractive interest rates on their housing loan. The IDBI Housing Loan interest rate starts from 8.65% p.a.

  • This bank also allows you to use different loan repayment methods. These include a Flexible Loan Instalment Plan, Tranche-based EMI, and Step-up and Step-down options.

  • You can avail this loan online or by visiting the nearest branch of IDBI Bank. The bank has a wide network of over 1,800 branches and 75 dedicated loan processing centres spread across India. 

  • IDBI bank also offers a home loan takeover facility as well as top-up loans. You can get a 100% top-up on your existing IDBI Bank Home Loan.

Types of Home Loan Schemes Offered by IDBI Bank

The following are the types of IDBI Home Loan products you can avail of:

  • Home Loan

  • Home Loan Interest Saver

  • Home Improvement Loan

  • Home Extension Loan

  • Home Loan -Top up

  • Home Loan - Booking Finance

  • Home Loan-Refinance Facility

  • Home Loan - takeover facility

  • Loan on second Charge/Pari-passu charge 

How to Apply for IDBI Bank Housing Loan Online

To apply for the IDBI Bank Housing Loan online, follow these simple steps:

  • Visit the official IDBI Bank website

  • Click on the ‘Loans’ in the drop-down menu at the top of your screen

  • Select the type of home loan facility based on your financial requirements

  • Click the ‘Apply Now’ button

  • Enter your basic details

  • Check your eligibility and submit the required documents

  • The bank will review your application and attached documents before proceeding with the loan request

IDBI Bank Customer Care

In case you have any query related to IDBI Bank Housing Loan, you can connect with the IDBI Bank customer support through these numbers:

Conclusion

A home loan can help you realise the dream of owning a house. Here, the IDBI Bank Home Loan is a smart choice as it offers attractive home loan interest rate. However, it is advisable to compare different lenders before you zero in on the home loan that you wish to avail. 

You can use a home loan EMI calculator to better understand and compare different offers. Moreover, if you already have an existing home loan but wish to reduce the interest rates, you can avail of a Home Loan Balance Transfer. This facility allows you to shift your outstanding home loan balance to a new lender and save on interest payments.

Disclaimer

 The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for IDBI Bank Home Loan

Does IDBI Bank check CIBIL for a home loan?

Yes, IDBI Bank checks your CIBIL score before approving your home loan request.

What is the maximum loan tenure I can opt for under IDBI Bank House Loan?

If you are a salaried individual, you can opt for a maximum tenure of 30 years on your IDBI Bank Home Loan. However, the maximum extension of tenure for self-employed individuals is 20 years.

Can I transfer my house loan from another bank to IDBI Bank?

Yes, you can avail of the home takeover facility offered by IDBI Bank to transfer your existing home loan to this bank.

What is the maximum limit of an IDBI Bank Home Loan?

You can get up to a maximum of 90% of your property’s value as the loan amount. 

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