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 85 users
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Fees & Charges

Promised Interest Rate

Customer Service

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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02
03
04
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
02
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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 27 May 2015

IDBI Home Loan Details
>
Interest Rate (Floating) 10.00% to 10.15%
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. (73 out of 85) Write Review
Customer Reviews
Page 1 of 5 1 2 3 4 5
  • Validated User
    (0)

    I got the home loan with IDBI bank.The rate of interest is 10% and that was very low when compared with other banks.The processing fee is very low and I took the capital of around 8 lakhs.Customer service is good.The documentation is tedious from them and that needs to be improve.

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

    I was very happy to take my home loan with IDBI as I got my loan sanctioned with 15days. I also got a quote lesser than other banks. I suggest they need to improve more on their responsiveness as I had to go over to the bank for submitting my documents.

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    prathamesh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had taken home loan with IDBI. Interest rate is less compared to HDFC limited. But one thing is like they delayed more in processing the loan. It took about 1 month for the disbursement. Other than this I had good response , documentation was good and smooth.

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    prithwiraj took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    IDBI gave good services and gave god response in resolving queries. To complete paper works, the officers came my place. Interest rate is less than other banks for home loan. I have taken insurance against the home loan and this is not actually the mandatory one but I took it because benefits are so good.

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    abhishek took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am happy with IDBI bank the only thing is the customer service is poor. I suggest that the online portal has to be improved and the customer service and the response should also be improved by IDBI. Documentation was little clumpsy, the one document was asked many time so that can be improved. The processing time was quite slow, it took one month to complete.

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    ashish took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I got the home loan with IDBI bank for the rate of interest as 12.5%.The interest rate what they provided to me was very cheap on that time.They came to my place and collected the documents.It was 20 years tenure period but I closed it in 5 years and there is no foreclosure charges.

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    gunavant took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The service offered by IDBI Bank was good. The sanctioning time taken by the Bank was very less compared to HDFC. And within 15 days my loan got disbursed and there was only less number of documents asked by the Bank. The best part about the Bank is, there is no processing fee charged.

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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    IDBI has approved the loan amount of 50lakhs that I was expecting. Out of 50 lakhs, they deducted around 12 to 15k for some service charges. I would say interest rate for home loan is high. IDBI have solution for customer queries and they resolve it as faster. Just they took 20 days to transfer the funds.

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    ritesh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The home loan from IDBI Bank is good. I had taken from this Bank as it was a known bank by the builder and my project has been approved by this particular bank. It took only 7 days for my loan to get disbursed and the response was very quick. It was only basic legal documents asked by the Bank.

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

    I had taken a home loan from IDBI Bank. It is an excellent and peaceful bank to take home loan. I have the direct contact with the customer relationship officers of the bank as I donâ??t have to get connected with different executive each time to know about my application status. The documentation process takes little much time but only required documents were asked by them.The best part about this Bank is they provide loans based on the market value rather than the registration value. For any kind of statements I only have to call them and they send me the statements to my home. They take good ownership of customers.

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    tarun took a Home Loan from IDBI BANK Reviewed on
  • (1)

    I applied for mortgage loan about 2 months ago i submit all documents they required but still nobody is telling whether I am eligible for the loan or not. They taken rs.11500 as processing fifteen days back still no answer, manager is not picking the phone. I need the answer am I eligible or not

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

    I am holding a IDBI Housing loan which is really good. They provide very good response and they took around 10 days of time to provide this loan. The name of the executive is Rathod he was very good in assisting me. The rate of interest offered by them was 10.25%. Processing fee charged by them was rs 800. This was taken for reconstruction purpose . This is a balance transfer loan

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

    IDBI is a government sector bank they sanctioned my home loan within 4 days and I got the disbursement cheque in 24 days.Its very simple paper work which is relevant.They discounted me with interest rates and it was around 10.5% and also there is no processing charges.

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    lalitraj took a Home Loan from IDBI BANK Reviewed on
  • 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
    (1)

    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
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