Overview
IDBI Bank
IDBI offers adaptable home loan solutions with competitive interest rates starting at 8.45% p.a. and repayment options extending up to 30 years. Customers can avail loans of up to ₹5 crore, meeting diverse needs like plot purchases, new home construction, renovations, and extensions. Additionally, IDBI provides tailored loan options, including exclusive benefits for applicants.
Rate of Interest
8.45% - 10%
Loan to Value
80% - 90%
Loan Tenure
Max 30 Years
Max Loan Amount
5cr - 10cr
| Rate of Interest | 8.45% - 10% |
| Loan Tenure | Max 30 Years |
| Age | Salaried : 22 - 70 years Self Employed : 25 - 65 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | 5cr - 10cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Loan Against Property, Loan Against Securities |
| Processing Fees | 0.50% of loan amount (Plus applicable taxes) |
| Other Charges | No prepayment and foreclosure charges |
| Overdraft Facilities | |
| Highlights | • Quick Processing • Top up facility up to 100% • Power-Packed customized Features to suit your Home Loan requirements. • Flexible Loan Repayment Options • Most experienced personnel for smooth and easy loan processing. • Already approved projects for convenience of Home Loan buyers |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.45% - 10% |
| Monthly EMI | ₹ 43,233 - ₹ 48,251 |
Eligibility Criteria for IDBI Home Loan
| Criteria | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Age Range | 22 to 70 years | 25 to 65 years |
| Nationality | Indian/NRI/PIO | Indian/NRI/PIO |
| Maximum Age at Final Repayment | 70 years | 65 years |
IDBI Home Loan Interest Rates
IDBI offers a diverse range of home loan products to cater to various needs. So, understanding the interest rates is crucial when considering your home financing options. Here’s a quick overview of the interest rates for 2024 based on CIBIL scores:
Floating Interest Rates
Plain Vanilla Home Loan (For Purchase/Construction/Extension)
| Type of Applicants | Interest Rate |
|---|---|
| Salaried/Self-employed Professional | 8.45%-10.75% p.a. |
| Self-employed Non-Professional | 8.55%-12.25% p.a. |
Plot Loan for House Construction
| Loan Products | Interest Rate |
|---|---|
| Plot Loan | 9.80%-10.40% p.a. |
Rural/Semi Urban Housing
For Loan Amount of up to Rs 35 lakh
| Type of Applicants | Interest Rate |
|---|---|
| Salaried/Self-employed Professional | 8.45%-10.70% p.a. |
| Self-employed Non-professional | 8.75%-10.80% p.a. |
Home Loan Top-up
| Housing Purpose | Suvidha Top-up (Non-Housing Purpose) |
|---|---|
| Interest rate of existing home loan +20 bps | Interest rate of existing home loan +75 bps |
Fixed Interest Rates
Plain Vanilla Home Loan (Purchase/Construction/Extension)
| Tenure | Interest Rate |
|---|---|
| For 3 years | 10.90% p.a. |
| For > 3 years | 12.00% p.a. |
Plot Loan for House Construction
| Loan Amount | Interest Rate |
|---|---|
| All loan amount | 12.25% p.a. |
Talk to our Home Loan Experts
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
IDBI Home Loan Processing Fee and Charges
Home Loan Plain Vanilla and Rural/Semi-urban Housing Loan
| Loan Amount | Salaried and Self Employed Professional | Self Employed Non-Professional |
|---|---|---|
| Up to Rs 35 lakh | Rs 5,000 | Rs 6,000 |
| Rs 35 lakh-Rs 75 lakh | Rs 7,500 | Rs 8,500 |
| Rs 75 lakh-Rs 125 lakh | Rs 13,500 | Rs 14,500 |
| Above Rs 125 lakh | Rs 13,500 | Rs 15,000 |
| For Inward Balance Transfer or Inward Balance Transfer+Top-up | NIL | NIL |
IDBI Neev and Neev 2.0
| Loan Amount | Salaried and Self Employed Professional | Self Employed Non-Professional |
|---|---|---|
| Up to Rs 35 lakh | Rs 6,000 | Rs 7,000 |
| Rs 35 lakh-Rs 75 lakh | Rs 8,500 | Rs 9,500 |
| Rs 75 lakh-Rs 125 lakh | Rs 14,500 | Rs 16,000 |
| Above Rs 125 lakh | Rs 14,500 | Rs 16,000 |
Foreclosure Charges
| For Floating Rate Home Loans | For Fixed Rate Home Loans |
|---|---|
| NIL | If own funds-Within 6 months from final disbursement- 2% of outstanding loan amountAfter 6 months from final disbursement- NILIf Balance Transfer- 2% on outstanding loan amount |
IDBI Home Loan Documents
| Document Name | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Proof of Identity | ✔ | ✔ |
| Address Proof | ✔ | ✔ |
| Passport-sized Photographs | ✔ | ✔ |
| Bank Statement | ✔ | ✔ |
| Tax Returns | ✔ | ✔ |
| Application Form | ✔ | ✔ |
| Profit/Loss Statement | ✖ | ✔ |
| Business Profile | ✖ | ✔ |
IDBI Home Loan Schemes and Top Plans
Comparison
| Criteria | Details |
|---|---|
| Purpose | Purchase of new/resale property Plot purchase for construction purposes Extension/improvement/renovation of existing property Construction of property already acquired Availing home loan balance transfer facility Availing additional finance by existing IDBI home loan borrowers through home loan top-ups |
| Tenure | For Salaried: Up to 30 years For Self-employed Professionals: Up to 20 years For Self-employed Non-Professionals: Up to 20 years |
| Loan-to-Value (LTV) Ratio | Up to Rs 30 lakh: Up to 90% of property value Rs 30 lakh – Rs 75 lakh: Up to 80% of property value Above Rs 75 lakh: Up to 75% of property value |
| Pradhan Mantri Awas Yojna (PMAY) | |
|---|---|
| Purpose | Credit Linked Subsidy Scheme with affordable housing for Economically Weaker Sections, Low Income Groups and Middle Income Groups |
How to Apply for IDBI Bank Home Loan
Applying for an Axis Bank home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest Axis Bank branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get IDBI Bank’s best rates in a single call.
How to Apply
Applying for an IDBI home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest IDBI branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
How to Download IDBI Home Loan Statement?
Downloading your IDBI home loan statement is quick and easy, allowing you to access your loan details and track your payments online.
Here’s how you can download the Home Loan Statement
- Visit the official IDBI Bank website.
- Click on the “Personal Banking” tab.
- Log in to your net banking account by entering your User ID and Password.
- Click on the “Loans” section in the main menu.
- Select “Home Loan” from the dropdown menu.
- Click on “View Statement” or “Download Statement” option.
IDBI Customer Care
To facilitate effective communication with customers, in addition, IDBI Housing Finance offers various channels for customer support.
Below are the key contact details to ensure you get the support you need quickly and efficiently.
| Contact Method | Details |
|---|---|
| Email ID | customercare@idbi.co.in |
| Toll-Free Number | 1800-209-4324 / 1800-22-1070 (24×7 service) |
| Official Address | IDBI Bank Ltd., IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai 400005 |
| Nodal Officer | To contact the Nodal Officer: Call – 022 66908401 / 022 66908532 Email – rtgsneftops@idbi.co.in / etpc@idbi.co.in |
| Website | www.idbi.com |
Comparison
You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 9.15%-11.55% p.a. | 9.15%-11.55% p.a. | 9.15%-11.55% p.a. |
| 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 | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% 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%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
The interest rate for an IDBI home loan varies based on several factors, including the loan amount, tenure, and applicant profile. It’s best to visit the IDBI Bank website or contact their customer service for the most current rates.
The loan amount you can get generally depends on your repayment capacity, which is typically calculated as 50-60% of your monthly income. For a salary of ₹15,000, you might be eligible for a loan amount approximately in the range of ₹7.5 lakh to ₹9 lakh, subject to other eligibility criteria and bank policies.
With a monthly salary of ₹50,000, you could be eligible for a home loan amounting to around ₹25 lakh to ₹30 lakh. This estimate is based on the general principle that the EMI should not exceed 50-60% of your monthly income. Final eligibility will depend on the bank’s assessment of your overall financial profile.
If your monthly salary is ₹25,000, you may be eligible for a home loan in the range of ₹12.5 lakh to ₹15 lakh. The exact amount will be determined by the bank after considering other factors such as your existing liabilities, credit score, and overall financial stability.