How to take home loan from IDBI Bank?

IDBI Home Loan: Are you thinking of building a house and you are short of money, then there is a good news for you as IDBI Bank is providing home loan to the customers at attractive interest rates. In this article we IDBI Home Loan From the beginning to the application, you will get information about it, so you are requested to read this article till the end.

At present this Home loan interest rate 8.50% p.a. starts from You can get a home loan up to Rs 10 crore from IDBI Bank. Home is our piece of heaven. It is the dream of every person to have his own house but due to lack of money, he is not able to build or buy a house.

In this situation, IDBI Home Loan stands by you as your partner. Being a secured loan, this loan is available to you even with a low CIBIL score.

IDBI Home Loan 2022

Any person can take a home loan for building a house, for buying a house or for renovation of a house, for buying a plot, etc. IDBI Bank provides home loan to its customers with transparency and quick processing.

Power Pack Customized features are provided by the bank as per the features of the home loan of the customer. Under the Pradhan Mantri Awas Yojana of the Government of India (Govt. of India), you can get subsidy on home loan.

Inward Balance Transfer and Pradhan Mantri Awas Yojana The processing fee is nil in case of Under IDBI home loan, you can get an amount of up to Rs 10 crore. But the loan amount given under the loan depends on many factors of the customers such as CIBIL Score, applicant’s income, age, credit history etc.

If you have a question in your mind that how much installment you will have to pay at the time of home loan payment, then you can calculate it with the help of IDBI Bank Home Loan EMI Calculator which will help you in taking home loan.

HIGHLIGHTS:

loan name	IDBI Bank Home Loan 2022
Name of the lending bank	IDBI Bank
Rate of interest	Starting from 8.50% p.a.
loan amount	Rs 10 crore
loan tenure	up to 30 years
IDBI Home loan processing fee	0.50% of the loan amount, subject to a minimum of Rs.2,500
Application Mode	online / offline
official website	www.idbibank.in

IDBI Bank Home Loan Interest Rate 2022

IDBI Bank Home Loan Interest Rate 8.50% p.a. starts from Existing customers of the bank and people with a good income can take advantage of the bank’s attractive home loan interest rates.

IDBI Home Loan Benefits and Features

• Takeover norms from other banks/financial institutions:
  • Repayment track record for a minimum period of 6 months.
  • The facility of additional funds is available in the form of top-up.
  • Top up facility up to 100%.
• Maximum Loan Tenure:
  • For Salaried – 30 Years
  • For Self Employed Professional – 20 Years
  • For Self Employed Non-Professional – 20 Years
• Maximum Loan Amount:
  • Up to Rs.30 lakh (up to 90% of the market value of the property/document cost, whichever is less)
  • Rs 30 lakh to Rs 75 lakh (up to 80% of the market value of the property/document cost, whichever is less)
  • Above Rs.75 Lakhs (up to 75% of the market value/document cost of the property, whichever is less)

Other Features of IDBI Home Loan:

• any person IDBI Bank Housing Loan can apply for.
• The customer can get as much loan amount as he wants subject to his repayment capacity.
• Customers do not have to pay any processing fee for taking loans under Inward Balance Transfer and Pradhan Mantri Awas Yojana.
• You can apply for IDBI Home Loan for home purchase, renovation, purchase of land for the purpose of house construction, expansion of existing property etc.
• The customer can take this loan with a loan tenure of 30 years.
• Additional Top Up facility for the existing customers of the Bank.
• Subsidy on home loan under Pradhan Mantri Awas Yojana.
• In-principle loan approval even before property selection.
• Variety of Home Loans Home Loan, Home Loan Interest Saver, Home Loan – Top Up, Home Loan – Takeover Facility, Home Improvement Loan, Home Extension Loan, Home Loan – Booking Finance, Loan on Second Charge / Pari-Pasu Charge and Home Loan-Refinance facility.
• Flexible loan repayment options |
• You can get a loan to buy a house from anywhere in India.
• You can also apply for a loan through the IDBI Home Loan app.

Repayment Option

• Phased Repayment Facility: This option is for young executives who are professionally qualified and are expected to grow in their regular career which will help them to avail higher loan amount today based on their future income growth. The income growth considered under this option is in the range of 6 to 8% p.a. and will be in the 5 year slab for a 20 year loan.
• Step Down Repayment Facility: If your income starts decreasing during a certain period at the time of maturity of the loan, then in that case you can choose this option. The main objective of this facility is to recover more in case of higher income. This leads to 2 EMIs at different times during the maturity of the loan. This option helps in getting a bigger home loan amount by combining the income of parents and children. Under this facility, after the retirement of the parents, their children will pay the balance loan. EMI will be higher in the initial period.
• Installment based EMI: Under this facility you can start your EMI (Equated Monthly Installment) even before the property is ready and under construction.

IDBI Bank Home Loan Eligibility

For Salaried (including NRI/PIO):

• The minimum age of the applicant should be 22 years.
• Maximum age should be 70 years (at loan maturity).

For self-employed professionals and self-employed non-professionals:

• The minimum age of the applicant should be 25 years.
• Maximum age should be 65 years (at loan maturity).

IDBI Home loan Documents List

• application form with photograph
• Identity Proof (Valid Passport / Voter ID Card / Aadhaar Card / Driving License / PAN Card)
• Address Proof (Copy of Utility Bills / Driving License / Passport / Voter ID / Aadhaar Card)
• Bank statement, latest salary slip of last 3 months
• Tax Returns, Form 16/ITR
• Last 6 months bank statement processing fee check

How to apply for IDBI Bank Home Loan?

If you fulfill all the conditions of IDBI Home Loan then you can apply for this loan. The customer can apply for this loan both online and offline. Information about the process of applying is given here.

IDBI Home Loan Apply Online

• On the home page of the website, you will find the option of Loans. home loan The option of will appear, click on it.
• On the next page, all the information related to the home loan will appear in front of you.
• You have to read this information correctly, calculate your eligibility.
• To apply you Apply Now The option of will appear, click on it.
• On the next page a question will appear in front of you – Whether existing A/C holder with IDBI Bank?
• If you are a new customer then you have to click on the option of No and if you are an existing customer then you have to click on the option of Yes.
• The loan application form will open in front of you.
• You have to enter all the information sought in the form correctly and submit the form.
• After that the representative of the bank will contact you and the loan process will be continued further.

Apply Offline for IDBI Home Loan

• To apply offline, you must first go to your nearest IDBI Bank branch.
• After that you have to contact the bank employee.
• The bank employee will provide you all the information related to the home loan.
• Your documents will be verified and you will be given a form.
• You have to fill the form and attach the documents and submit it to the bank.
• After that the loan process will be continued further.
• If your loan is approved, the loan amount will be transferred to your bank account.

IDBI Bank Home Loan Fees and Charges

• Processing Fee – 0.50% of the loan amount, minimum – Rs.2500
• Processing fee under Pradhan Mantri Awas Yojana and Inward Balance Transfer – is NIL.
• Foreclosure Charges on Home Loan at Floating Interest Rate – Nil.

IDBI Home Loan Customer Care Number

• Toll Free Numbers: 1800-209-4324 / 1800-22-1070

conclusion

In this article, we have tried to give you complete information about IDBI Bank Home Loan. Anyone who wants to build a house or buy a house or want to renovate a house can apply for an IDBI home loan.

Any Salaried Person (Salaried Person) and Self Employed (Self Employed) person can apply for this loan. If you face any problem while applying for the loan, you can call the IDBI home loan customer care number for more information.

FAQ: