A "low interest" loan shouldn't mean you have very little interest in paying it back!

IDBI Bank Home Loan

IDBI Bank Home Loan
 4.0 / 5.0   by 72 users
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Fees & Charges

Promised Interest Rate

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Responsiveness

IDBI Bank Limited is an Indian financial service company headquartered in Mumbai, India. IDBI Bank is on a par with nationalized banks and the SBI Group as far as government ownership is concerned. It is one among the 26 commercial banks owned by the Government of India. Their experience of financial markets will help them to effectively cope with challenges and capitalize on the emerging opportunities by participating effectively in our country’s growth process. Owning a home is one of life’s biggest aspirations, at IDBI our home loan solutions are designed to offer you convenience and make the journey to your dream home a pleasant one.All you have to do is to follow some simple steps to get attractive deals.


You’re probably eligible for an IDBI Home Loan if you are

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IDBI Home Loan Minimum Age

At least 22 years old

IDBI Home Loan Maximum Age

Less than 70 years old

IDBI Home Loan Eligible Employment Type

Salaried or self-employed
with regular income

IDBI Home Loan Minimum Income

Earn more than the minimum
income required


Your IDBI Home Loan amount eligibility is based on these factors

01
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IDBI Home Loan Minimum Salary

Earn more than the minimum
income required

IDBI Home Loan Maximum Loan to property value

Loan capped @ 75% to 90 % of property value

IDBI Home Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible IDBI Home Loan amount by these steps

01
02
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IDBI Home Loan Add Spouse as Co-applicant

Make your spouse a co-applicant,
and her income will add
to your eligibility

IDBI Home Loan Maximum Tenure

Choose longer tenure loan up to 30 years

IDBI Home Loan Add parents as Co-applicant

Alternatively add your parents


Documentation needed to apply for an IDBI Home Loan

  • 1. Signed application form with photograph
  • 2. Processing fee Cheque
  • 3. ID and residence proof
  • 4. Latest bank statements
  • 5. Documentation for salaried applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
  • 6. Documentation for self-employed applicants:

    • latest income tax returns
    • latest comupation of income

IDBI Home Loan Interest RatesUpdated on 28 Apr 2015

IDBI Home Loan Details
>
Interest Rate (Floating) 10.25% to 10.40%
Processing Fees Nil
Loan Tenure 30 years
Pre-closure Charges Nil

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IDBI Bank Home Loan Reviews

86 % of our customers would recommend this bank. (62 out of 72) Write Review
Customer Reviews
Page 1 of 4 1 2 3 4
  • Validated User
    (0)

    I am holding a IDBI housing loan it is a good one. However I am a bit disappointed with my interest rate. As when the RBI reduced the rate they were not reducing it. When I checked with them they say that this will not impact this rate, it will impact some other rate. Interest rate offered by them is good when compared with others.

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    anand took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (0)

    I had taken a home loan from IDBI Bank. The customer service executives have been supportive and it was a speedy process as my loan got sanctioned within 2 days. The executive were really supportive as they had taken care of the registration process by visiting the court and they were very punctual in the time and they handed over to me all the documents to me in a fast and good manner. I would still not recommend the bank as the interest rates are very higher as it is a long term loan.

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    sanjay took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (4)

    Merits of IDBI is fastest processing and the interest rate is 10.15%, which is competitive. When I was availing home loan in IDBI, processing charge is nil. Partial payment option is good and pre closure charge is around 5%. Every 10th is the EMI date and I am fine with payment date. So far no demerits with IDBI.

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    sachin took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • (1)

    We have taken a loan from IDBI around 2 years back. We have been regretting on our decision from that day only. These guys are so unprofessional and irritating in a way they work that a customer gets total frustration at the end of the day.Initially they increased the rate of interest from 10:15 to straight 11.25 within 3 months and after that they kept increasing and troubling us for paying the chques for the increased amount. On questioning them they give all sort of irrelevant answers. Recently we thought of converting our ROI to 10.25% by paying some fee (as per the RBI guidelines). We really had to go through tough times. We were asked to open an account with IDBI bank. It was mandatory for the conversion. We were forced to start the SI instead of PDCs. After opening the account, for every small thing they asked me to visit the branch. Like for enabling internet banking etc. Although I mentioned in the form itself to provide me net banking facilities. Their IVR system is bad too

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    swati took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (1)

    No hiccups with IDBI and merit is that online access as I can check the status of the loan instantly. Interest rate is fine for home loan in IDBI but processing charges are too high while comparing to other banks, which I realized post availing loan. Post taking loan customer care is not that much effective so they have to focus.

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    koushik took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (1)

    Maintaining salary account with IDBI so based on that have taken home loan but the response was very poor in comparison to other banks. I am not satisfied with IDBI because they never informed the customers about decrease in interest rate when RBI decreases whereas they implement when the interest goes up.

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    santhosh took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (4)

    I had taken a home loan from IDBI Bank. Their processing time is fast and also the rate of interest charged and the processing fee is less compared to other banks. Everything went on smooth and my loan got disbursed within a week.

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    bidhan took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I am holding a housing loan with IDBI. Response time is very less. They offer personalized service, there is a dedicated relationship Manager who is assigned to me and he is ready to provide any sort of help for me. Rate of interest offered by them is really good. They are very much flexible in terms of interest rate and it is really good.

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    ronnie took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (1)

    There is no processing fee in IDBI for home loan and interest rate is 10.15%. Specifically there is no penalty charge and IDBI is giving 20 days of grace period for payment. It is government organization so no issues in taking loan. Actually the loan got approved but I asked the disbursement post three months.

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    rajesh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (3)

    Actually this is transfer loan where I transferred from different bank to IDBI. Employees and branch manager are good where they guided me in each and everything. IDBI gave good interest rate for home loan but charges are too high. No problem in home loan processing but the executives forcing me to take life insurance and home insurance along with home loan so I have to visit branch and have to consult regarding the same.

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    santosh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • (8)

    resident :mumbai idbi branch :kurla andheri my process of home loan started on nov 20 ,14 and went on till jan 22 with me ending up only to know that all the documents which i have submitted was asked again by the executive bcuz they all lost it and to restart the process again of loan .on the other hand the builder which has started charging me 28 % interest for installment not paid which was part of the loan applied money. I was shocked to know the idbi executives were so lousy in their job .At last they are govt ppls and what can u expect from them. This is a true life experience,plz forbid to take loan from such bad bank who has no value for clients, This is a real experience plz dont think as any hoax review... Regards, Srikant

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    srikant took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (4)

    I am holding a IDBI Housing loan. They are not very clear with the policies and procedure. After selling the product they are not focusing on Customerâ??s needs. Many a times I have written mails to them however they did not bother to response. Only once they have responded. The charges are very much nominal. They dont charge anything extra they are very fast in processing the application quickly.

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    raju took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (7)

    One month is there to complete the home loan with IDBI and the interest rate is 11.25%. EMI date is 30th and it is getting through my account. May be in thousands they would have collected the processing charge. Interest rate is bit high in IDBI for home loan. Actually the builder was associated with IDBI so I must go with the same bank for home loan, in this way I have taken from IDBI.

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    ramanath took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (2)

    Services is good however the rate of interest is 0.1% is higher than other banks. Customer service team of IDBI is too friendly in nature. They had provided part payment option with 0% charges for home loan.

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    prasun took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (4)

    IDBI is been excellent services rendered. Compared with other banks, their services is best. They don't let the customers do the follow ups, they keep on updating the home loan status. Interest rate is quite the same like other banks. Charges are so lesser which is quite appreciable.

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    kiran took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (5)

    In terms of home loan, IDBI had waived off the processing charges due to the deal. The interest rate is 10.50% for plot and construction loan. IDBI provides part payment option with 0% charges.

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    adarsh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (4)

    As its a resale property, I did know about IDBI through the previous person who had taken home loan. Even the paper work was less as its a pre approved loan. Interest rate is very less at that point of time.

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    palguna took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (5)

    I applied for a home loan from IDBI bank in the year 2012. The experience was good. The services was fine. They gave the maximum loan amount compared to any other banks in the market. The rate of interest was 10.25% and there was no processing fees. The customer support was good.

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    mukesh took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (3)

    On that period of availing home loan it was good and the interest rate is good like 17%. IDBI just collected my salary slip, address proof and property details. Actually my property was owned by parents so they asked for NOC from my sibling. Tenure is just 5 years and I already closed it.

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    sai took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (2)

    The home loan which I availed from IDBI is good. I took it a year back. The rate of interest was 10.25% which is high and can be reduced. The services are good. There is no processing fees. It took around 7 to 15 days for me to get the loan.

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    bren took a Home Loan from IDBI BANK Reviewed on
Customer Reviews
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