Owning a home shouldn’t feel out of reach—especially when your monthly rent already proves you can manage an EMI. With IDBI Bank’s Pradhan Mantri Awas Yojana‑Urban 2.0 Interest Subsidy Scheme (PMAY‑U 2.0 ISS)—the revamped version of the original PMAY‑U CLSS programme—the government steps in to lighten your load.
Under this “Housing for All” mission, eligible families get Central Assistance delivered through trusted Primary Lending Institutions (like IDBI) to buy or even repurchase a house in any urban area.
Here’s what that means for you: a sizeable interest subsidy that slashes your effective EMI, straightforward digital paperwork, and quick approvals guided by a team that speaks your language, not legal jargon. So instead of watching property prices climb while you write another rent cheque, you’ll be hanging a nameplate on the door of a place that’s finally and fully yours.
IDBI Bank PMAY Home Loan Highlights
Here’s a quick overview of the key features—interest rates, loan amounts, and fees—so you can decide if the home loan is the right choice for you.
| Aspects | Highlights |
|---|---|
| Interest Rates | 8.00% p.a. onwards |
| Loan Amount | Contact the Bank |
| Tenure | 20 Years |
Suggested Read: West Bengal Housing Scheme for All
IDBI Bank PMAY Home Loan Interest Rates
Check out the interest rates for home loan in 2025 to get an idea of your potential EMI and costs.
| Category | Rate of Interest |
|---|---|
| Salaried/Self Employed Professional | 8.00% – 10.60% |
| Self Employed Non-Professional | 8.35% – 12.10% |
| Home Loan Ultra Saver | 8.40% – 12.50% |
Suggested Read: Investment Opportunities in Andheri’s Slum
IDBI Bank PMAY Home Loan Eligibility Criteria
Find out the basic eligibility requirements, such as age, income, and existing home loan status, before applying for a home loan.
| Criteria | EWS | LIG | MIG-I | MIG-II |
|---|---|---|---|---|
| Household Income (₹/year) | 0 – 3,00,000 | 3,00,001 – 6,00,000 | 6,00,001 – 12,00,000 | 12,00,001 – 18,00,000 |
| Property Carpet Area (m²) | up to 30 | up to 60 | up to 160 | up to 200 |
| Loan Amount for Subsidy | up to ₹6 lakh | up to ₹6 lakh | up to ₹9 lakh | up to ₹12 lakh |
| Interest Subsidy (%) | 6.50% | 6.50% | 4.00% | 3.00% |
| Max Subsidy Amount (₹) | ₹2,67,280 | ₹2,67,280 | ₹2,35,068 | ₹2,30,156 |
| Tenure for Subsidy | Max 20 years | Max 20 years | Max 20 years | Max 20 years |
| Female Ownership Required | Yes (New purchase) | Yes (New purchase) | No | No |
Suggested Read: The Growth of Affordable Housing in India
How Does PMAY Home Loan Work?
The Credit Linked Subsidy Scheme (CLSS) is a component of PMAY designed to provide interest subsidies on housing loans to make home ownership more affordable for:
- Economically Weaker Section (EWS)
- Low Income Group (LIG)
- Middle Income Groups (MIG-I & MIG-II)
How it Works?
- Interest subsidy is paid upfront by the Government.
- The subsidy is credited directly to the borrower’s loan account.
- This reduces the Effective EMI for the borrower.
Additional Clarifications
- Subsidy is applicable only for new purchases under EWS/LIG if female co-ownership is required.
- Self-construction or extension loans may be eligible only for EWS/LIG categories.
- MIG loans for extension/repair not eligible under CLSS.
Suggested Read: PMAY Eligibility Criteria
IDBI Bank PMAY Home Loan Processing Fees
Understand the processing fees involved so you can factor them into your overall cost when opting for a home loan.
| Description | Amount / Rate |
|---|---|
| Home Loan Processing Fee | 0.50% of loan amount (plus applicable taxes) |
| Fee collected at login | ₹2,500 (plus applicable taxes) |
| Balance collected | At the time of sanction |
Suggested Read: IDBI Bank Home Loan Customer Care
IDBI Bank PMAY Home Loan Other Fees and Charges
Be aware of any extra charges, such as prepayment penalties or overdue fees, that may apply to your home loan.
Foreclosure Charges (Plus taxes)
| Loan Type | Condition | Charge |
|---|---|---|
| Home Loans to individuals (Floating Rate) | – | NIL pre-payment/foreclosure charges |
| Mortgage Loans to individuals (non-business purpose) | – | NIL pre-payment/foreclosure charges |
| Mortgage Loans to individuals (business purpose) | Up to 12 months of disbursement | 3% on sanctioned loan amount |
| Beyond 12 months | 3% on outstanding loan amount | |
| Mortgage Loans to non-individuals | Up to 12 months of disbursement | 3% on sanctioned loan amount |
| Beyond 12 months | 3% on outstanding loan amount | |
| Fixed Rate Loan – Own Funds (≤ 6 months) | – | 2% on outstanding loan amount |
| Fixed Rate Loan – Own Funds (> 6 months) | – | NIL pre-payment/foreclosure charges |
| Fixed Rate Loan – Balance Transfer | – | 2% on outstanding loan amount |
Part Payment Terms and Conditions
| Loan Type | Condition | Charge |
|---|---|---|
| Home Loan | Max Number of Payments | Not more than one per month |
| Minimum Amount | ₹25,000 | |
| Mortgage Loan Variants | Max Number of Payments | 4 times per financial year |
| Max Amount (per financial year) | Up to 30% of sanctioned amount | |
| Minimum Amount | ₹25,000 | |
| Additional part/pre-payments beyond limit | Not allowed |
Penal Charges for Default/Delayed Payment
| Charge Type | Rate |
|---|---|
| Penal Interest | 2% per annum on overdue amount (plus applicable taxes) |
Property Inspection Charges (Plus taxes)
| Loan Type | Loan Amount Slab | Charge |
|---|---|---|
| Home Loan (Rural/Semi Urban/Urban) | Up to ₹35 Lakh | ₹750 |
| ₹35–₹75 Lakh | ₹1500 | |
| Above ₹75 Lakh | ₹2000 | |
| Mortgage Loans & Variants | Up to ₹50 Lakh | ₹750 to ₹1500 |
| ₹50–₹100 Lakh | ₹1250 to ₹2500 | |
| Above ₹100 Lakh | ₹2500 to ₹5000 |
Partial Property Release / Property Swapping Charges (Plus taxes)
| Charge Type | Amount |
|---|---|
| Property Swapping Charges | ₹25,000 * |
| Partial Release of Property | ₹10,000 |
Legal & Technical Charges for Home Loans (All Variants) – Plus taxes
| Property Location | Legal Charges | Technical Charges |
|---|---|---|
| Metro & Urban | ₹2500 | ₹2500 |
| Semi Urban & Rural | ₹2500 | ₹2500 |
Interest Rate Conversion Charges (Plus taxes)
| Conversion Type | Account Type | Charge |
|---|---|---|
| Floating rate → RLLR linked | Individual | ₹5000 |
| Floating rate → RLLR linked | Non-individual | 0.25% of outstanding loan amount |
| Home Loan Interest Saver → Regular Loan / Mortgage Loan | – | 0.50% of outstanding loan amount |
| Fixed Rate Loan → Floating Rate (prior to end of fixed term) | – | 0.50% of outstanding loan amount |
Other Charges
| Service | Charge |
|---|---|
| Cheque Book Issuance | ₹5 per leaf |
| Omni Pay Issuance | ₹1.10 per ₹1000; Minimum ₹53 |
| Other Charges | As per latest Schedule of Charges (SOC) of FDOD |
Check Out: IDBI Bank Home Loan Interest Rate Calculator
IDBI Bank PMAY Home Loan Documents Required
Ensure you have all the necessary documents ready, from identity proof to income statements, to make the home loan application process smooth.
For Salaried Customers
| Document | Particulars |
|---|---|
| Application Form | Application form with photograph |
| Identity & Address Proof | Identity and residence proof |
| Bank Statement (3-month salary slips) | Latest salary-slip for the last 3 months |
| Tax Returns | Form 16 / ITR |
| Bank Statement (6-month account) | Last 6 months bank statement + processing-fee cheque |
For Self Employed Professionals
| Document | Particulars |
|---|---|
| Application Form | Application form with photograph |
| Identity & Address Proof | Identity and residence proof |
| Education Qualification | Certificates + proof of business existence |
| Tax Returns | Last 3 years income-tax returns (self & business) |
| Profit/Loss Statement | Last 3 years P&L and balance-sheet |
| Bank Statement | Last 6 months bank statements |
| Processing Fee | Processing-fee cheque |
For Self-Employed Non-Professionals
| Document | Particulars |
|---|---|
| Application Form | Application form with photograph |
| Identity & Address Proof | Identity and residence proof |
| Proof of Business | Proof of business existence |
| Business Profile | Detailed business profile |
| Tax Returns | Last 3 years income-tax returns |
| Profit/Loss Statement | Last 3 years P&L balance |
| Bank Statement | Last 6 months bank statements (self & business) |
| Processing Fee | Processing-fee cheque |
Suggested Read: PMAY 3.0
How to Apply for IDBI Bank PMAY Home Loan?
The application process is easy—simply fill in your details, upload the required documents, and get started on your loan.
- Visit the official IDBI Bank website. Under “Loans” tab, click on “PMAY.”
- Click on “Apply Now.” This launches the secure Retail Loan Application portal
- Choose whether you are an existing IDBI customer (Yes/No), then fill in the mandatory personal details—title, full name, age band, mobile number, and email address.
- Select your preferred contact time, state, city and nearest branch, then pick “Home Loan” from the Product Required drop-down list.
- Enter the CAPTCHA code, tick the consent box authorising the bank to contact you, and press “Submit.”
- Note the on-screen reference ID; you’ll also receive an SMS/email acknowledging your application.
- A loan officer will call or mail you shortly to collect KYC, income and property documents and guide you through e-signature or branch visit if needed.
Suggested Read: Real Estate Investment in Bangalore
Compare Top Banks Home Loan Interest Rates
Explore home loan top-up offers from different banks to find the best deal that fits your needs.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Conclusion
Credit Dharma is your trusted partner for securing the best Home Loan offers, with over ₹500 Cr+ loans handled and partnerships with 20+ leading banks. We provide exclusive access to the lowest interest rates and a seamless, digital process with fast approvals in just 1-2 weeks, backed by lifetime support from our home loan experts.
Why choose Credit Dharma? We provide:
- Lowest Interest Rates: Save more with every EMI.
- Maximum Funding: Get up to 100% funding for your dream home.
- Simple & Digital Process: No tedious paperwork or branch visits.
- Expert Guidance: Lifetime support from our team of specialists.
Compare, choose, and secure the best Home Loan offer with Credit Dharma — your home loan journey starts here!
Frequently Asked Questions
A household consisting of husband, wife and unmarried children that does not already own a pucca (all‑weather) house anywhere in India. Adult earning members can be treated as separate households.
– EWS: ≤ ₹3 lakh p.a.
– LIG: ₹3‑6 lakh p.a.
– MIG I: ₹6‑12 lakh p.a.
– MIG II: ₹12‑18 lakh p.a.
Yes. At least one female member must be an owner or co‑owner of the house bought under PMAY‑U 2.0.
No. Prior benefit under PMAY or any other Central housing scheme disqualifies you.
– EWS/LIG: 6.5 % on loan up to ₹6 lakh
– MIG I: 4 % on ₹9 lakh
– MIG II: 3 % on ₹12 lakh
The effective saving over 20 years can reach about ₹2.67 lakh (EWS/LIG) or ₹1.8 lakh (MIG).
HDFC Home Loan
SBI Home Loan
