Apply for Home Loans @ Lowest Rate
Please Note: IDBI Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
IDBI (Industrial Development Bank of India) is one of the leading commercial banks that offer the best housing loans starting at 6.75% onwards. The bank has been providing personal banking and financial resolution to the retail and commercial sectors. IDBI home loan is availed to purchase new properties and rebuild or reconstruct/renovate an existing property.
IDBI Home Loan Rate of Interest
Floating Rate of Interest
| Home Loan Type | Floating Rate of Interest |
| Plain Vanilla Home Loan | For Salaried: 6.75%* – 8.40% For Self Employed: 6.85%* – 9.90% |
| Home loan Top Up (Housing Purpose) | Existing HL ROI + 20 bps* |
| Suvidha Top up (Non Housing Purpose) | HL ROI + 75 bps |
| IDBI Neev (Plot Loan for House Construction) | 7.45% – 8.05% |
| IDBI Neev 2.0 (Plot Loan for House Construction) | 7.75% – 8.35% |
| Scheme for Financing Rural/Semi Urban Housing | 9.60% |
Note: Rates as on 20 October 2021. The figures given in the table are indicative and are subject to change at the bank’s discretion without prior information.
*Limited Period Offer
IDBI Fixed Rate of Interest
| All loan Amounts | Fixed Rate for 3 Year Tenor | Fixed Rate for > 3 Year Tenor |
| 9.85% | 10.10% |
| IDBI NEEV (Plot Loan for House Construction) | Sanction Amount | Fixed Rate of Interest (p.a) |
| Up to Rs. 35 lakh | 10.00% | |
| Above Rs. 35 lakh | 10.25% |
Other Charges for IDBI Home Loan
| Foreclosure Charges | |
| Floating Rate | |
| For Individuals | Nil Prepayment or Foreclosure charges |
| For Non Individuals as an applicant or as co-applicant | Cases sanctioned on or after 28th January 2015 -2% on the outstanding loan amount plus tax. |
| Cases sanctioned before 28th January 2015 – As per the Sanction Letter and Loan terms and Conditions. | |
| Fixed Rate | |
| For Its Own Funds | |
| Within 6 months from Last and final Disbursement | Cases sanctioned on or after 28th January 2015 -2% on the outstanding loan amount plus tax. |
| Cases sanctioned before 28th January 2015 – As per the Sanction Letter and Loan terms and Conditions. | |
| After 6 months from Last and final Disbursement | Nil Prepayment or Foreclosure charges |
| For Balance Transfer | Cases sanctioned on or after 28th January 2015 – 2% on the outstanding loan amount plus tax. |
| Cases sanctioned before 28th January 2015 – As per the Sanction Letter and Loan terms and Conditions. | |
| Foreclosure Procedure Time | |
| Original document retrieval time | 15 working days |
| Part Payment | |
| Minimum Amount | Rs 50,000 |
| Number of times | 4 times in a financial year |
| Additional Charges | |
| Penal Interest | 5% per annum for the unpaid amount and period |
| Copy of property documents | Rs. 225 |
| Default in payment | Rs. 300 |
| Swapping of PDC / ECS | Rs. 575 |
| Duplicate Certificate/ Interest Certificate | Rs. 115 |
| CIBIL Copy of credit certificate | Rs. 50 |
| Re issuance of DD / PO | Rs. 115 |
| Duplicate Statement Charges | Rs. 115 |
IDBI Home Loan Eligibility
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.
IDBI Bank Home Loan Eligibility for Self Employed Professional
Minimum Age – 25 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.
IDBI Bank Home Loan Eligibility for Self Employed non-professional
Minimum Age – 25 years, Maximum Age – should be less than 65 years at the time of closure of the loan subject to suitable and acceptable repayment track record. Under this, the maximum age can be relaxed provided there is a proper and suitable succession plan of the business.
Documentation Required for IDBI 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 Qualifications 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 | Last 6 months bank statements | Last 6 months bank statements (self and business) |
| Processing fee cheque | Processing fee cheque |