IDBI Bank Home Loan Interest Rate

Home Loan Interest Saver, Home Loan Takeover Facility, Home Loan Top-Up, Home Extension Loan, Home Improvement Loan, Home Loan-Booking Finance, Home Loan Refinance Facility, and Loan on Second Charge/Pari Passu Charge are some of the home loan products offered by IDBI Bank.

The bank helps applicants not only determine the loan amount but also find the finest property for their needs and budget. If you match the qualifying requirements, your loan can even be approved before you choose a house.

IDBI Bank offers tailored home loan solutions based on whether you are employed, self-employed, a professional, or an NRI. The bank offers various loan repayment alternatives such as step up or step down and tranche-based EMI. There are no limits or restrictions on where you can buy a home as long as it is in India.

IDBI Bank operates 1800 branches and 76 loan processing facilities in India. The procedure is straightforward, and it is available both online and at bank branches and loan centres.

Who is Eligible for the IDBI Bank Home Loans?

Any Indian resident or NRI who meets the following eligibility criteria may apply for IDBI Bank-

  • A salaried worker, self-employed worker, or business owner.
  • A doctor or lawyer, for example, may apply for an IDBI Bank home loan.
  • The minimum age for applying is 22 years for salaried workers and 25 years for self-employed workers.
  • At the end of the term - the maximum age is 70 years. This means that the applicant's tenure cannot be extended over the age of 70.
  • Individuals may apply alone or in collaboration with other family members.
  • All applicants' income will be used to determine their ability to pay and loan eligibility.

Documents Required While Applying for the Home Loan from IDBI Bank

These are some of the mandatory documents required while applying for this home loan:

  • Proof of Identity
  • Proof of Address
  • Age proof
  • Income proof

How to Apply for the IDBI Bank Home Loan?

To apply for a house loan, go to the IDBI Bank website or a bank location. You could also complete an application form at an IDIB Loan centre.

After you submit the form, a bank representative will contact you to discuss the terms of your loan and the documents required. Being prepared with documents such as Aadhar and PAN cards, ITRs from the previous six months, pay slips or other income evidence, and copies of the property document/title deed would assist speed up the loan procedure. Also, keep two to three pictures of each applicant on hand.

IDBI Bank Home Loan Interest Rate 2022

Following are the IDBI Bank Home Loan Interest Rate 2022-

1) IDBI Home Loan Interest Rate (Floating)

a) Home Loan

Applicant Type

IDBI housing loan interest rate

Salaried/Self-employed 

7.50% - 9.15%

Self-employed Non-Professional

7.60% - 10.65%

b) Rural or Urban Housing Loan Scheme

Applicant Type

Interest Rate

Self-employed Professional

7.95% 

Self-employed Non-professional

8.10% 

Salaried

7.85%

c) IDBI Plot Loans

Type

Interest Rates

IDBI Neev

8.20% - 8.80%

IDBI Neev 2.0

8.50% - 9.10%

D) IDBI Home Loan Interest Rate 2022 for Top Up Loan Scheme

Type

Interest Rate

Housing Purpose

An interest rate of an existing home loan adding 20 bps

Suvidha Top-up (Non-Housing Purpose)

An interest rate of existing home loan adding 75 bps

2) IDBI Home Loan Interest Rates (Fixed)

a) IDBI Bank Rate of Interest Home Loan

Period

Interest Rate

3 Years

9.85%

More than 3 Years

10.10%

b) IDBI Neev

Amount

Interest Rate

Rs. 35 lakhs

10.00%

More than Rs. 35 lakhs

10.25%

c) Rural or Urban Housing Scheme

All Loan Amounts

9.60% 

 

Different Kinds of Home Loans from IDBI Bank

There are varied schemes offered by IDBI Bank on housing loans, and they are-

1) IDBI Housing Loan

This scheme is for the purchase of new/resale property, the purchase of a plot for construction purposes, the extension/improvement/renovation of existing property, the construction of the previously acquired property, and the availability of balance transfer and top-up loans.

2) PMAY of IDBI Bank

This is a Credit-Linked Subsidy Scheme for Economically Weaker Sections, Low-Income Groups, and Middle Income Groups.

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