IDBI Housing Loans

 

The Industrial Development Bank of India Limited, popularly known as IDBI Bank, provides a range of customer friendly housing loans for purchasing/constructing your dream home or for buying a plot to build a house in the near future. The bank also refinance existing housing loans you may have availed from other banks.

 

Why IDBI Bank Housing Loans

• Highly competitive interest rates

• Loan amount upto 90% cost of the property

• EMI on daily reducing balance, thus good savings on interest amount

• Flexible EMI options to suit your income, such as low EMI in initial years that increases with your rising income.

• Personalized doorstep service

• Option to choose between Floating or Fixed interest rate

• Long repayment tenor of upto 25 years (15 years for NRIs)

• No foreclosure penalty, if loan is prepaid from your own funds.

• Specially-designed insurance cover

• Hassle free documentation

 

 

Interest Rates

 

 

Home Loans (Fixed )
Loan Amount	Rates	Interest Saver
Upto 25 lacs	10.25%	11.00%
>25 - 30 Lacs	10.75 – 11.00 %	11.25 -11.50%
> 30 lacs - 75 lacs	11.00%	11.50%
> 75 Lacs	11.50%	12.00%

 

Home Loans (Fixed )
Options	< Rs 75 lacs	>75 lacs
Fixed for 3 years	12.75%	13.25%
Fixed for 5 years	13.00%	13.50%

 

 

 

Eligibility and Documentation

 

 

• Resident Indian or NRI with source of income like salary or business income.

 

• Not more than 60 years of age at the time of loan maturity.

 

• Income of your spouse can be clubbed for enhancing your loan amount eligibility.

 

 

Documents

 

• Loan application form with 2 passport size photos of applicant.

 

• Copy of the approved plan for the proposed construction / extension / addition.

 

• Allotment letter of Co-operative Housing Society / Apartment Owners' Association / Housing Board / NOC from the Society / Association / Builders / Housing Board.

 

• Salary Certificate and Form No.16 (in case of salaried persons).

 

• IT Returns filed for the past two years (in case of non-salaried persons).

 

• A brief note on the nature of business, year of establishment, type of organization

(in case of self-employed).

 

• Balance sheet and profit and loss account for the past 3 years (in case of self-employed).

 

 

IDBI Bank Housing Loan Calculator

 

 

 

 

Loan Amount: : Rate of interest (%) : Time in Years : Processing Fee(optional) : Processing Fee Calculated :