Buying a home is one of life's greatest dreams, and IDBI's home loan options are designed to make the trip to your dream home as easy as possible. The interest rate on an IDBI Bank home loan starts at 6.90 % per annum, with loan terms of up to 30 years and flexible repayment plans. Home loans of up to Rs.10 crore are available from IDBI Bank.
IDBI Bank's Home Loan Types 2021:
Home Loan: This is a standard home loan that can be used to buy or build a home.
Home Loan - Top Up: You can request for an additional loan amount on your existing Home Loan to fund your personal financial demands, as the names indicate.
Home Improvement Loan: This loan mostly serves your wants for repairing or renovating your current home loan.
IDBI Neev: This is a Plot Loan for the construction of a home.
PMAY (Pradhan Mantri Awas Yojana): It is a credit-linked subsidy plan issued by the Indian government to borrowers of housing loans. On your Home Loan repayment, you may be eligible for an interest subsidy of up to 2.67 lakhs per annum.
IDBI Home Loan Interest Rate 2021:
IDBI Bank is one of the few institutions that has been providing funds for various housing-related objectives at a rate that is within most people's budgets. IDBI is a reputable commercial bank that offers the best housing loans at a low interest rate of 6.85 % and above.
|
Home loan type |
Interest rate for salaried |
Interest rate for self employed |
|
Plain Home Loan |
6.85% – 8.40% |
7.15% – 9.90% |
|
Home loan Interest Saver |
7.40% – 8.90% |
7.65% – 10.40% |
|
IDBI Neev |
7.60% – 8.20% |
|
|
IDBI Neev2.0 |
7.90% – 8.50% |
|
Features and Benefits of IDBI Home Loan:
- The term of a home loan can range from 5 to 30 years.
- IDBI Bank's lowest EMI per lakh on a home loan is 692 per lakh, with the lowest interest rate of 7.40 % and the maximum loan period of 30 years.
- On floating rate loans, IDBI Bank allows prepayment of home loans with no charge.
- Instant Processing
- A variety of home loan options are available to satisfy the financial needs of any client.
- Any IDBI branch in India can help you get a home loan.
Documents Required for IDBI Home Loan:
|
Salaried Customers |
Businessmen – Professionals Self Employed |
|
IDBI Home Loan Application Form with Photograph |
IDBI Home Loan Application Form with Photograph |
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KYC Documents: Proof of Residence like Aadhar card, Passport, PAN, Voter ID, Driving License, etc. |
KYC Documents: Proof of Residence like Aadhar card, Passport, PAN, Voter ID, Driving License, etc. |
|
Bank statements from the previous six months. |
Bank statements from the previous six months. |
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Cheque for processing fee |
Cheque for processing fee |
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Current salary slip |
Certificate of education and proof of business or Shop act license |
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Form16 |
Company profile and income tax returns for the previous three years (self and business) |
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Profit/loss and balance sheet for the previous three years |
