हिंदी में पढ़े
| IDBI Bank Home Loan Highlights | |
| Interest Rate | 8.65% p.a. onwards |
| Loan Amount | Up to 90% of property value |
| Tenure | Up to 30 years |
| Processing Fees | NIL |
Note: Rates as of 5th June 2023
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Table of Contents
IDBI Bank Home Loan Interest Rates
Floating Interest Rates
Plain Vanilla Home Loan (For Purchase/Construction/Extension)
| Type of Applicants | Interest Rate |
| Salaried/Self-employed Professional | 8.65%-10.75% p.a. |
| Self-employed Non-Professional | 8.75%-12.25% p.a. |
Plot Loan for House Construction
| Loan Products | Interest Rate |
| IDBI Neev | 9.80%-10.40% p.a. |
| IDBI Neev 2.0 | 10.10%-10.70% p.a. |
Rural/Semi Urban Housing
For Loan Amount of up to Rs 35 lakh
| Type of Applicants | Interest Rate |
| Salaried | 9.45% p.a. |
| Self-employed Professional | 9.55% p.a. |
| Self-employed Non-professional | 9.70% p.a. |
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Home Loan Top-up
| Housing Purpose | Interest rate of existing home loan +20 bps |
| Suvidha Top-up (Non-Housing Purpose) | Interest rate of existing home loan +75 bps |
Fixed Interest Rates
Plain Vanilla Home Loan (Purchase/Construction/Extension)
| Tenure | Interest Rate |
| For 3 years | 9.85% p.a. |
| For > 3 years | 10.10% p.a. |
IDBI Neev (Plot Loan for House Construction)
| Loan Amount | Interest Rate |
| Up to Rs 35 lakh | 10.00% p.a. |
| Above Rs 35 lakh | 10.25% p.a. |
For Rural/Semi-Urban Housing
| All Loan Amounts | 9.60% p.a. |
Note: Interest rate for fixed rate home loans shall be reset after every 5 years as per the prevailing fixed rate for 5 years
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Compare Home Loan Interest Rates for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.50% - 10.15% | 8.50% - 10.05% | 8.50% - 10.05% |
| HDFC | 8.50% - 10.35% | 8.50% - 10.60% | 8.50% - 10.70% |
| LIC Housing Finance | 8.45% – 10.35% | 8.45% – 10.55% | 8.45% – 10.75% |
| ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
| Kotak Mahindra Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| PNB Housing Finance | 8.75% - 14.50% | 8.75% - 13.00% | 8.75%-11.35% |
| Punjab National Bank | 8.65%-9.60% | 8.60%-9.50% | 8.60%-9.50% |
| Bank of Baroda | 8.60% - 10.65% | 8.60% - 10.65% | 8.60% - 10.90% |
| Union Bank of India | 8.50% – 10.75% | 8.50% – 10.95% | 8.50% – 10.95% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Housing Finance | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Bajaj Housing Finance | 8.50% onwards | 8.50% onwards | 8.50% onwards |
| Tata Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Federal Bank | 10.15%-10.20% | 10.20%-10.25% | 10.25%-10.30% |
Also check the lenders offering lowest home loan interest rates
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IDBI Bank Home Loan Processing Fees and other Charges
| Processing Charges | NIL |
Home Loan Plain Vanilla and Rural/Semi-urban Housing Loan
| Loan Amount | Salaried and Self Employed Professional | Self Employed Non-Professional
|
| Up to Rs 35 lakh | Rs 5,000 | Rs 7,500 |
| Rs 35 lakh-Rs 75 lakh | Rs 7,500 | Rs 10,000 |
| Rs 75 lakh-Rs 125 lakh | Rs 13,500 | Rs 16,000 |
| Above Rs 125 lakh | Rs 13,500 | Rs 20,000 |
Home Loan Interest Saver/IDBI Neev and Neev 2.0
| Loan Amount | Salaried and Self Employed Professional | Self Employed Non-Professional
|
| Up to Rs 35 lakh | Rs 6,000 | Rs 8,500 |
| Rs 35 lakh-Rs 75 lakh | Rs 8,500 | Rs 11,000 |
| Rs 75 lakh-Rs 125 lakh | Rs 14,500 | Rs 18,000 |
| Above Rs 125 lakh | Rs 14,500 | Rs 22,000 |
| Balance Transfer | NIL |
| Pradhan Mantri Awas Yojna (PMAY) | NIL |
Also know about home loan processing fees levied by top lenders
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Types of IDBI Bank Home Loan
IDBI Housing Loan
Purpose: Regular home loans for purchase of new/resale property, plot purchase for construction purposes, for extension/improvement/renovation of existing property, construction of property already acquired, for availing home loan balance transfer facility and for availing additional finance by existing IDBI home loan borrowers through home loan top-ups.
Tenure:
- For Salaried: Up to 30 years
- For Self-employed Professionals: Up to 20 years
- For Self-employed Non-Professionals: Up to 20 years
LTV Ratio:
| Up to Rs 30 lakh | Up to 90% of property value |
| Rs 30 lakh-Rs 75 lakh | Up to 80% of property value |
| Above Rs 75 lakh | Up to 75% of property value |
Pradhan Mantri Awas Yojna (PMAY)
Purpose: Credit Linked Subsidy Scheme with affordable housing for Economically Weaker Sections, Low Income Groups and Middle Income Groups
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IDBI Bank Home Loan Eligibility
For Salaried
- Minimum Age – 22 years
- Maximum Age – should be less than 70 years at the time of closure of the loan subject to suitable and acceptable repayment track record.
For Self Employed Professional/Self Employed Non-Professional
- Minimum Age – 25 years
- Maximum Age – 65 years or retirement age, whichever is earlier subject to income continuity proof submission
Know more about home loan eligibility criteria set by top home loan lenders
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Documents Required for IDBI Bank Home Loan
For Salaried Customers
- Application form with photograph
- Identity and Residence Proof
- Latest Salary-slip for last 3 months
- Form 16/ITR
- Last 6 months bank statement
- Processing fee cheque
For Self Employed Professionals
- Application form with photograph
- Identity and Residence Proof
- Education Qualifications Certificate and Proof of business existence
- Last 3 years Income Tax returns (self and business)
- Last 3 years Profit/Loss and Balance Sheet
- Last 6 months bank statements
- Processing fee cheque
For Self Employed Non Professionals
- Application form with photograph
- Identity and Residence Proof
- Proof of business existence
- Business profile
- Last 3 years Income Tax returns
- Last 3 years Profit /Loss Balance
- Last 6 months bank statements (self and business)
- Processing fee cheque
Know more about home loan documents required
IDBI Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
1. How does IDBI Bank decide the eligibility of home loan applicants?
Ans. The home loan eligibility of applicants is determined based on their age, income, qualification, income of spouse, qualification, number of dependents, stability, occupation continuity, assets, liability base and savings history. Home loan eligibility also depends on the value of property to be purchased.
2. Can the applicants get home loan without selecting the property?
Ans. IDBI Bank offers in-principal sanction based on the repayment capacity of home loan applicants. Depending upon the loan amount sanctioned, the applicants may look for property. For final sanction of loan amount, the property identified for the purpose should meet the eligibility criteria of IDBI Bank.
3. Can I opt between fixed and floating rates?
Ans. IDBI Bank home loans are offered at both fixed and floating rates of interest.
4. What is the minimum credit score required to avail home loans from IDBI Bank?
Ans. IDBI Bank has not specified the cut-off credit score for home loan applicants. However, applicants having credit scores of 750 and above usually have higher chances of availing home loans at lower interest rates.
Click Here:- To know more about Credit Score based Interest Rates of Home Loan
5. Can I prepay my home loan availed from IDBI Bank?
Ans. Yes, you can prepay your home loan availed from IDBI Bank. The bank does not charge any prepayment fees for home loans at floating rates. However, for fixed rate home loans, 2% of the outstanding loan amount is charged if the prepayment is made within 6 months from final loan disbursement, and no fees is levied if prepayment is made after 6 months from final disbursement.
6. What are the different modes of payment of home loan EMI for IDBI Bank?
Ans. The home loan borrowers can pay their home loan EMIs through Standing Instruction with IDBI Account or through Electronic Clearing System instruction on their non-IDBI account.