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 218 Users

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    IDBI Home Loan Interest Rates

    IDBI Home Loan Interest RatesUpdated on 20 Nov 2018

    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.

    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

    Amount of Housing Loans IDBI Bank Home Loan Interest Rates
    Upto Rs. 30.00 Lakhs 6 months MCLR + 0.05%
    Above Rs. 30.00 Lakhs and upto Rs.75.00 Lakhs 6 Months MCLR + 0.20%
    Above Rs. 75.00 Lakhs 6 Months MCLR + 0.30%
    Apply for Home Loan Online

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

    Tenor MCLR
    Overnight 8.00%
    One Month 8.25%
    Three Months 8.45%
    Six Months 8.60%
    One year 8.85%
    Two years 8.90%
    Three years 8.90%

    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 8.25%, 8.45% and 8.60% respectively. While the MCLRs for a year, two year and three year’s tenors are 8.85%, 8.90% and 8.90% 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.
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    IDBI Bank Home Loan Reviews

    • IDBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience i had with this loan and the process in getting the loan has been good. The loan amount which they had provided has been satisfactory and the interest rate with them has been nominal. There has been some processing fee whcih they had charged and there has not been any sort of charges which they had made so far.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 17, 2018
    • IDBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My mom have applied for home loan from IDBI bank, there service is good, they rate of interest and processing fee which they have charge was nominal and the loan amount which they have given me was sufficient and tenure period which they given me was sufficient and it have been 2 years i have been applied for home loan from this bank, till now service i have experience was good.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 16, 2018
    • IDBI Home Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a a good experience i had with this Home loan where they had provided an excellent service. The loan amount which they had provided has been satisfactory and the interest rate with them has also been nominal. They only had charged me with some processing fee initially and other than that there has not been any charges.
      Was this review helpful? 4
      , mumbai
      Reviewed on Oct 26, 2018
    • IDBI Home Loan
      "The Service needs Improvements"
      0.5 4.0/5 "Great!"
      I have taken a home loan from the IDBI bank for 17 lacs, the interest rate was normal, the tenure of the loan 15 years. They don't have an option to issue the interest certificate online but they asked me visit the branches which was not convenient at all.
      Was this review helpful? 5
      , thane
      Reviewed on Sep 26, 2018
    • IDBI Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience was good with IDBI bank, the loan amount was for Rs 50 lacs with nominal interest rate when compared to others.Customer service was good with this bank and they responded on time. There was no processing fee charged and no preclosure charges.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 19, 2018
    • IDBI Home Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      Since the land I bought was already approved with IDBI. There were no hassles for me when I applied for a home loan. They did all the documentation work for me and I did not have to run around for anything. The tenure was for 20 years and I closed my loan in ten years itself. I also did not have issues after the closure, they handed over all the documents in 15 days.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 13, 2018
    • IDBI Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've taken a home loan from the IDBi bank. The interest rate was competitive, the tenure is 10 years. I got the loan amount with in 3 weeks, the processing took bit longer. It was a very good loan experience with the IDBI bank. There were no hidden charges associated with the home loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 31, 2018
    • IDBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan almost a month back. The process in getting the loan has been a little lengthy and had taken some more time than usual. Their customer support also had been helpful and had been responsive as well, and the loan amount which they had provide had been good as well. The interest rate with them also had been good as well.
      Was this review helpful? 3
      , thane
      Reviewed on Jul 25, 2018
    • IDBI Home Loan
      "Pathetic experience with IDBI"
      0.5 2.0/5 "Expected more"
      I have taken home loan in the amount of 14 lakhs. II did not have any relationship with IDBI bank. They have provided the interest rate of 10.25% and processing fee is also very high. I have paid the EMI of Rs. 13775. I have taken this home loan in the year of 2012. I close the already in the year of 2015. I have chosen the tenure period of 15 years.
      Was this review helpful? 4
      , thane
      Reviewed on Jun 29, 2018
    • IDBI Home Loan
      "One of the good PSU in home loan finance"
      0.5 4.0/5 "Great!"
      Usually its so difficult to get funding from public sector bank but with IDBI it was not so difficult. Without much hassles, my loan amount was disbursed. But, they were useless post disbursement. No copy of documents provided. In all good Bank to get Home Loans
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 13, 2018
    • IDBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The IDBI bank has offered me a home loan around 10 years ago. The customer support service and the response is good with the bank and they have disbursed the loan amount with in a month time. The rate of interest and the charges are average and I am satisfied with it.
      Was this review helpful? 1
      , chennai
      Reviewed on May 31, 2018
    • IDBI Home Loan
      "Home loan with IDBI"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan from IDBI bank the approved loan amount is 30 lakhs. The rate of interest was 11%. It will be deprecating after the installments. The monthly EMI is 30000 for 20 years. Its an independent house The process was very quick.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 23, 2018
    • IDBI Home Loan
      "Below average service"
      0.5 2.0/5 "Expected more"
      The Idbi bank doesn't have the transparency in the home loan , I have got the home loan from the IDBI bank around 15 years ago. The customer support service is not up to the mark from the IDBI BANK and they are not giving proper response to the customers.
      Was this review helpful? 3
      , mumbai
      Reviewed on Mar 28, 2018
    • IDBI Home Loan
      "Home loan statement"
      0.5 0.5/5 "Unacceptable"
      IDBI is worst bank in terms of customer care, since more than a month the home loan statement portal not working giving an alert saying site under maintenance also not options to reach customer service keep on rotating over IVR, very third class pathetic service, I really regret availing home loan from this bank.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 02, 2018
    • IDBI Home Loan
      "Recommendable Housing Loan from IDBI"
      0.5 5.0/5 "Blown Away!"
      Recently I took home loan from IDBI, they gave me best interest rate around 8.5% for the tenure of 30 years. They have sanctioned my housing loan within 15 days, they disbursed the amount in one shot. I purchased Individual villa through IDBI home loan. I already referred this bank to my friend for the home loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • IDBI Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have my home loan with IDBI bank for about 5 years back. The loan amount was 30 lakhs and the Interest rate was average in the market. The tenure period was 20 years . The loan process was lengthy and they have taken much time also but there is no processing fee here so I would like to recommend to others.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 05, 2018
    • IDBI Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with IDBI bank, it was a good loan experience. The loan amount was for Rs 17 lakhs with the nominal rate of interest rate when compared to all other banks. The process was smooth and the loan amount was disbursed within the given time. Customer service was good and they provided door step service to collect the documents. The tenure of the loan is 20 years and it was a good service overall from IDBI bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 29, 2017
    • IDBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan experience with IDBI bank was very good, the process was okay and it took 20 days for the loan amount to get approved and disbursed. The loan amount was for Rs 13.50 lakhs with the nominal rate of interest when compared to other banks. Customer service was good, they provided door step service to collect the documents. There is no penalty on preclosure and part payment.
      Was this review helpful? 6
      , mumbai
      Reviewed on Dec 12, 2017
    • IDBI Home Loan
      "Approchable bank for home loan"
      0.5 4.5/5 "Excellent!"
      I have taken a home loan from IDBI bank.The approved loan amount was 25 lakhs. The monthly EMI is 22000 with a rate of interest 8.35%. They approved the loan amount with in a week.The documentation was done well. The processing fees was just like some govt charges.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 20, 2017
    • 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
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