A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 IDBI Home Loan Interest Rates
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 8.65% Floating
    -
    5L - 10Crs
    30 Years
    Response Time : Within 30 minutes
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    IDBI Home Loan Interest Rates is Rated as "Great!" by 199 Users

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    IDBI Home Loan Interest Rates

    IDBI Home Loan Interest RatesUpdated on 18 Nov 2017

    IDBI Home Loan Details
    Interest Rate 8.35% to 8.65%
    Loan Tenure 30 years
    Pre-closure Charges Nil

     

    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.

    Interest rate 8.35% - 8.65% floating interest
    Loan Tenure Up to 30 years
    Pre-closure charges Nil

    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.

    IDBI’s Home Loan Can Be Availed For:

    • Purchasing a ready to move in or under-construction house either by resale or direct allotment
    • Purchasing a plot and construction thereon
    • Purchasing land
    • Construction of a home
    • Improving/renovating an existing house
    • Taking over an existing loan from another lender
    • Refinancing the purchase or construction of the house within a year from the date of transaction

    IDBI Bank Home Loan Interest Rates Table

    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%

    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%.

    Apply for Home Loan Online

    IDBI Bank Marginal Cost of Fund Based Lending Rate (MCLR)

    Tenor MCLR
    Overnight 8.00%
    One Month 8.10%
    Three Months 8.30%
    Six Months 8.35%
    One year 8.55%
    Two years 8.60%
    Three years 8.70%

    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.

    Benefits of An IDBI Home Loan

    IDBI Housing Hoan
    • Assistance in searching and acquiring a property
    • Loan approval even before a property is selected
    • Customized home loans for the salaried
    • Pre-approved projects for convenient home loans
    • Flexible repayment options
    • Wide network of branches in India
    • Loan can be applied anywhere in the country
    • Property can be purchased from anywhere in India
    • Experienced employees for a smooth loan processing
    • Online application

    Documentation Required for the Home Loan

    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)

    Factors on Which the IDBI Bank Home Loan Interest Rate Depends:

    • Applicant’s Salary: The take away salary of an applicant is a major factor that determines the rate of interest he/she has to incur. The salary and the rate of interest one has to pay are inversely proportional to each other. Higher the Income, lower the interest rate the applicant has to pay.
    • Amount of the Loan: The rate of interest also depends on the approved amount of the loan. The higher the loan amount, the interest rate becomes higher as well.

    Tips to Reduce IDBI Bank Home Loan Interest Rate

    • Shorter Tenure: The interest rate also varies depending on the tenure of the loan. The shorter the tenure, the lower the total interest paid. However, the Equated Monthly Instalments paid will be higher.
    • Increase the EMIs: Increasing the EMI paid will not only reduce the overall interest paid, but will also enable you to pay off the loan faster.

    News About IDBI Home Loan

    • IDBI Cuts Home Loan Rate Without Cue from RBI

      The banking system has been experiencing surplus liquidity, which has urged banks to lower rates even prior to the release of the monetary policy by the Reserve Bank of India. IDBI Bank has lowered its home loan rates by about 0.60%, and the bank now grants home loans to customers at 8.55% to 8.7%. The one-year marginal cost based lending rate was also lowered by the bank to 8.6% starting from the 1st of February. The two-year rate stands at 8.85%, and the overnight rate is pegged at 8.2%, and the one-month rate stands at 8.4%.

      7th February 2017

    • IDBI Bank Cuts its Marginal Cost of Funds Based Lending Rates

      IDBI Bank has reduced its MCLR for different tenors at 8.60% for overnight, 9% for one month, 9.15% for three month, 9.25% for six month, 9.30% for one year, 9.55% for two years and 9.70% for three years. The base rate of IDBI Bank is 9.75% p.a. and the BPLR is 14.25% p.a. The fall in MCLR is likely to have a positive impact on loan growth, both in the retail segment such as home loans as well as corporate sector.

      IDBI close at Rs.76.75 on the BSE, which was 1.99% or Rs.1.5 more than its previous closing of Rs.75.25.

      20th July 2016

       
    • IDBI Bank introduces new processing system to apply for loan

      IDBI Bank, one the top public sector banks, has initiated a new way to process a loan application for its Structured Retail Asset (SRA) loans like vehicle loans, education loans and personal loans. This is not counting the prevailing processing system for housing loans. Thus every SRA loan has been digitalized.

      This arrangement can generate the regularization in dispensation and payments of the loans. It will increase turnaround time for home loans. This is yet another leap onward in IDBI’s obligation to enhance customers banking experience.

      26th August 2015

       
    • IDBI Emerges as the New Age Home Loan Genie

      To offer quick loans to buy houses or open small businesses, IDBI Bank has decided to introduce e-huts, which will aid individuals from villages to go forward and join major businesses. E-hut is a notion that is extensively recognized in the West, but in our country, it has not picked pace yet. The bank will lend its support to middle and small initiatives in the state for which the loaning has escalated by 48%.

      IDBI opened two more offices in Goa (Candolim & Chinchim). These branches are harmonized with IDBI’s plan to reinforce its Housing & Enterprises (Micro, Small and Medium) loan portfolio in Goa. IDBI has noted an extraordinary progression in the area with 22% increase in current and savings accounts as the overall deposits increased by 16% in the preceding financial year.

      28th May 2015

       

    IDBI Bank Home Loan Reviews

    • IDBI Home Loan
      "Great Loan"
      0.5 4.0/5 "Great!"
      The process with IDBI in regards to my Home Loan was great. They gave me the loan pretty quickly and me a Rate of Interest of 9%. This experience has been pretty tight and provides you with good options for making the repayment through online options.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 11, 2017
    • IDBI Home Loan
      "Approchable home loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from IDBI bank.The approved loan amount was 68 lakhs with the rate of interest of 8.5 percentage. The overall experience with them was good.The documentation process also done well.The customer service and response with the bank is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 11, 2017
    • IDBI Home Loan
      "Simple and neat"
      0.5 5.0/5 "Blown Away!"
      IDBI housing loan process is simple and neat, they stick on to a traditional process, but they still give importance to their clients they are very much friendly too . Rate switch process is very good I get alerts from them on time, When there is a fall in the rate they will apply it automatically. On the other hand, if we approach them for a better interest rate or discount on the interest rate, then the bank might charge a processing fee for the same.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • IDBI Home Loan
      "average service"
      0.5 3.0/5 "Satisfactory"
      The process of IDBI bank for my home loan service is not fast compare to other banks in the market for each and every service I need to contact their branch physically the interest rate offered by IDBI is average it was about 7 years I have taken the loan from IDBI still now they are same in the process they need to improve in digitalis their service.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 23, 2017
    • IDBI Home Loan
      "Worst Bank"
      0.5 0.5/5 "Unacceptable"
      They are worst bank....it has been 12 days since I paid them full amount to close the loan...but they have still not closed it....and just giving false promises...employees keep fooling you and say "mai nahi bata sakta kab bandh hoga'' never take loan from them.
      Was this review helpful? 0
      , virar
      Reviewed on Oct 13, 2017
    • IDBI Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      Some time back I closed my home loan with IDBI, they gave me competitive interest as per the market. IDBI sanctioned me Rs.35 lakhs for the tenure of 20 years, I done a foreclosure in tenth year of my EMI there was no addition charges paid to them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 12, 2017
    • IDBI Home Loan
      "good service"
      0.5 4.0/5 "Great!"
      Service is good from IDBI ,interest rate is 8.35 which is fine representatives and customer service is very helpful even the documentation part was also fine ,so as a overall service is very good from IDBI, I am happy with service no issue till now.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 30, 2017
    • IDBI Home Loan
      "It was hassle free process"
      0.5 4.0/5 "Great!"
      It was my old loan, I took the home loan from IDBI before ten years. There was an agent between me and bank whose helped to process the loan within three days. They gave me 7.7 of interest but it was floating. Some time they increase high but they won't deduce the rate on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 30, 2017
    • IDBI Home Loan
      "Can do better"
      0.5 4.0/5 "Great!"
      IDBI as a bank is good, but they are not customer friendly . For example in my case there was a fall in the rate, so I had intimated them to reduce the rate or do a rate switch and apply the new rate to my home loan. However that did not happen. I was asked to meet them personally to complete the formalities, even now my interest rate is 9.5% but the actual interest rate is 8.5%
      Was this review helpful? 0
      , thane
      Reviewed on Sep 23, 2017
    • IDBI Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am so happy and excited when it comes to IDBI banking i would say this is one of the best banking services that one could avail the loan within a short span of time. The rate of interest is very cheap for eg when other bank charge an interest rate of 11-12% this IDBI was offering around 8%-9% interest rate which is cheapest and affordable.
      Was this review helpful? 0
      , nasik
      Reviewed on Sep 14, 2017
    • IDBI Home Loan
      "Satisfactory service"
      0.5 4.0/5 "Great!"
      IDBI is good, but interest rate is slightly high compared to government sector for the home loan. I had taken the amount of Rs. 15 lakhs for the tenure 20 years, IDBI charged 9.35% for the home loan, and they deducted around 1% as a processing fee.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 13, 2017
    • IDBI Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Interest rate for the housing loan is very nominal with IDBI bank. They had done with the process in a proper way. I had no issues with the bank while availing the loan. They have good customer support which is approachable and I am happy with the bank for the loan which I took.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 22, 2017
    • IDBI Home Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      During the year of 2010, I availed the home loan from IDBI bank. The current interest rate for my home loan is 8.35% which is nominal. The bank is good in providing services in all the aspects. Their customer service is approachable and I am quite satisfied.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • IDBI Home Loan
      "About IDBI"
      0.5 0.5/5 "Unacceptable"
      I had taken home loan from IDBI in 2007 latest interest was 10.8% which is i dont know.(Bank will not inform to us. if changes as per RBI But bank will change of interest of % if hiked by RBI) so i loss more than 12 to 14 month EMI. immediately i have changed to SBI interest low, Update every change and tension free.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2017
    • IDBI Home Loan
      "Super fast process"
      0.5 5.0/5 "Blown Away!"
      IDBI has been very helpful to me for the home loan. The executive came over and collected my papers and also started the process and I got the loan within six days. It was a very fast and satisfying process. I got a decent deal on the interest rate and processing fees.
      Was this review helpful? 1
      , kolkata
      Reviewed on May 10, 2017
    • IDBI Home Loan
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I had closed my home loan with the IDBI bank and their interest rate was a nominal one. Total tenure of the loan was around eight years of time and the charges were nominal one with the IDBI bank. They have provided the loan of around 70% of cost of home.
      Was this review helpful? 2
      , pune
      Reviewed on May 08, 2017
    • IDBI Home Loan
      "Great Job"
      0.5 5.0/5 "Blown Away!"
      I got the home loan with the IDBI bank and I have approached and I got it as first visit itself. I am very happy with them and the interest rate is around 8.5%, which is floating based. The loan amount got disbursed to my account within a month of time.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 13, 2017
    • IDBI Home Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      I have initially taken my home loan with IDBI. The process was good and I did not face any difficulties. The bank collected my papers on time and they also completed the disbursement on time as well. The rate of interest and processing charges was normal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 03, 2017
    • IDBI Home Loan
      "Good Customer support"
      0.5 4.0/5 "Great!"
      I have taken my home loan with IDBI on 2010, their documents process was very simple. They disbursed the part payment on time according to the construction, after submitting my project completion certificate, I got final disbursement from them. Earlier IDBI offered the interest rate of 8.75% now they requested me to open new account with same bank, to revise the interest rate of 8.5%. So I have opened a new account with IDBI bank.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Mar 04, 2017
    • IDBI Home Loan
      "Good service but high rate of interest"
      0.5 4.0/5 "Great!"
      It is a nice experience with IDBI in terms of having home loan. They actually responded well and provided the detailed information on my home loan. But the interest rate is not as per the market rate, if they have reduced their interest rate to the market rate, it will be convenient for the customers. Due to high interest rate, I am planning to transfer my loan to some other bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 04, 2017
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