IDBI Bank home loan eligibility is based on criteria that ranges from the age of the applicant to their income and assets. The bank offers a wide range of home loan products that cater to specific requirements and offer flexible loan repayment options with attractive interest rates. There is a maximum repayment tenure of 30 years and customised home loan features.
The home loan eligibility criteria for IDBI Bank are as given below:
| Age |
For salaried individuals: 22 years at entry and 70 years or retirement age, whichever is earlier For self-employed professionals and self-employed non-professionals: 25 years at entry and 65 years at the end of loan |
| Employment Type | Salaried individuals Self-employed professionals Self-employed non-professionals |
The income of the applicant plays a decisive factor in the home loan eligibility. The IDBI Bank home loan eligibility calculator given below displays the loan amount that you are eligible for based on different ranges of monthly income. These are calculated based on a repayment tenure of 30 years with an interest rate of 7.15% p.a. (which is the starting interest rate for IDBI Bank’s home loans). The interest rate is linked to the Repo Linked Lending Rate (RLLR) and are floating rate.
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs.14,80,589 |
| Rs. 30,000 | Rs.19,98,796 |
| Rs. 35,000 | Rs.23,31,928 |
| Rs. 45,000 | Rs.29,98,193 |
| Rs. 50,000 | Rs.33,31,326 |
| Rs. 55,000 | Rs.40,71,621 |
| Rs. 60,000 | Rs.44,41,768 |
| Rs. 65,000 | Rs.48,11,915 |
| Rs. 70,000 | Rs.51,82,062 |
| Rs. 75,000 | Rs.55,52,210 |
IDBI Bank’s home loan repayment tenure goes up to 30 years. The earlier a home loan is availed, the longer the repayment tenure will be and vice versa. Given below is the maximum eligible tenure according to different ages.
| Applicant’s Age | Maximum Eligible Tenure |
| 21 years to 30 years | 30 years |
| 31 years | 29 years |
| 32 years | 28 years |
| 33 years | 27 years |
| 34 years | 26 years |
| 35 years | 25 years |
| 36 years | 24 years |
| 37 years | 23 years |
| 38 years | 22 years |
| 39 years | 21 years |
| 40 years | 20 years |
| 41 years | 19 years |
| 42 years | 18 years |
| 43 years | 17 years |
| 44 years | 16 years |
| 45 years | 15 years |
Your home loan eligibility is dependent on your credit score. The higher your credit score, the lower your interest rate and vice versa. Here are the ratings for different credit scores:
| Rating | Credit Score |
| Good | 750 and above |
| Average | 600 - 750 |
| Poor | Below 600 |
Note: The eligibility criteria for women are the same as for other applicants.
IDBI Bank accepts co-applicants if they are the applicant’s spouse.
IDBI Bank home loan eligibility is determined by the factors given below:
You can easily check if you are eligible for a IDBI Bank home loan by using the free online home loan eligibility calculator or you can also visit the nearest branch.
Yes, NRIs are eligible for IDBI Bank home loans.
You can increase your chances of being eligible for a IDBI Bank home loan by adding a co-applicant who has a good source of income and credit score and fits all other eligibility criteria.
The maximum loan amount that you are eligible to obtain is dependent on a variety of factors such as your income, the property value, your repayment capacity, existing assets and liabilities, etc. However, the maximum loan amount that the bank offers to anyone irrespective of these is up to Rs.10 crore for a home loan.
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