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
At least 22 years old
Less than 70 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your IDBI Home Loan amount eligibility is based on these factors
Earn more than the minimum
Loan capped @ 75% to 90 % of property value
EMIs of other loans lower
Increase your eligible IDBI Home Loan amount by these steps
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 25 years
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 10 Feb 2016
|Interest Rate (Floating)|| 9.75% to 9.90% |
Base Rate - 9.75%
|Loan Tenure||25 years|
News About IDBI Home Loan
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