The government-owned bank formerly known as, Industrial Development Bank of India, is headquartered in Mumbai. It is primarily a development bank that provides credit to facilitate development in India. Having 3700 ATMs, 1995 branches, and 1382 centres, IDBI is the 10th largest development bank in the world with regard to its network.
|Rates and Charges||Specification|
|Interest rate||8.35% - 8.65% floating interest|
|Loan Tenure||Up to 30 years|
IDBI bank offers their home loans at a floating rate of interest that ranges between 8.35% - 8.65%. The loan tenure can be up to a maximum of 30 years and the banks doesn’t charge for pre-closure of the loan.
|Up to Rs.30 lakh||For women across all borrowing categories and salaried – 6m MCLR + 0.00% = 8.35%|
|Others – 6m MCLR + 0.05% = 8.40%|
|Above Rs.30 lakh and up to Rs.75 lakh||For women across all borrowing categories and salaried – 6m MCLR + 0.15% = 8.50%|
|Others – 6m MCLR + 0.20% = 8.55%|
|Above Rs.75 lakh||For women across all borrowing categories and salaried – 6m MCLR + 0.25% = 8.60%|
|Others – 6m MCLR + 0.30% = 8.65%|
IDBI bank home loan interest rate for different loan amount is listed over here. For up to Rs.30 lakh, IDBI bank charges an interest rate of 8.35% for all women and salaried individuals. For others, a rate of 8.40% will be levied. In case of loans above Rs.30 lakh and below Rs.75 lakh, an interest rate of 8.50% will be charged for all women and salaried individuals. Everybody else will have to pay 8.55% as interest. For all loans above Rs.75 lakh, an interest rate of 8.60% will be levied for women and salaried individuals while others will pay an interest of 8.65%.
For an overnight tenor, the MCLR of IDBI Bank is 8.00%. For a month’s tenor, three month’s tenor and six month’s tenor the MCLRs are 8.10%, 8.30% and 8.35% respectively. While the MCLRs for a year, two year and three year’s tenors are 8.55%, 8.60% and 8.70% respectively.
|Salaried Customers||Self Employed Professionals||Self Employed Non Professionals|
|Application form with photograph||Application form with photograph||Application form with photograph|
|Identity and Residence Proof||Identity and Residence Proof||Identity and Residence Proof|
|Latest Salary-slip for last 3 months||Education Certificate and Proof of business existence||Proof of business existence|
|Form 16/ITR||Last 3 years Income Tax returns (self and business)||Business profile|
|Last 6 months bank statement||Last 3 years Profit /Loss and Balance Sheet||Last 3 years Income Tax returns & Last 3 years Profit /Loss Balance|
|Processing fee cheque||Processing fee cheque & Last 6 months bank statements||Processing fee cheque & Last 6 months bank statements (self and business)|
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