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IDBI Bank Home Loan Highlights
| Particulars | Details |
| Interest Rate | 8.45% p.a. onwards |
| Loan Amount | Up to 90% of property value |
| Tenure | Up to 30 years |
| Processing Fees | NIL |
Note: Rates as of 6th November 2024
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IDBI Bank Home Loan Interest Rates
IDBI Bank home loan interest rates start from 8.45% p.a. onwards. The lender offers differential interest rates depending on the job profile of the applicants and the type of home loan scheme offered.
Also Read: IDBI Bank Loan Against Property
IDBI Home Loan Floating Interest Rates
Plain Vanilla Home Loan (For Purchase/Construction/Extension)
| Type of Applicants | Interest Rate |
| Salaried/Self-employed Professional | 8.45%-10.75% p.a. |
| Self-employed Non-Professional | 8.55%-12.25% p.a. |
Plot Loan for House Construction
| Loan Products | Interest Rate |
| Plot Loan | 9.80%-10.40% p.a. |
Rural/Semi Urban Housing for Loan Amount of up to Rs 35 lakh
| Type of Applicants | Interest Rate |
| Salaried/Self-employed Professional | 8.45%-10.70% p.a. |
| Self-employed Non-professional | 8.75%-10.80% p.a. |
Home Loan Top-up
| Particulars | Details |
| Housing Purpose | Interest rate of existing home loan +20 bps |
| Suvidha Top-up (Non-Housing Purpose) | Interest rate of existing home loan +75 bps |
IDBI Home Loan Fixed Interest Rates
Plain Vanilla Home Loan (Purchase/Construction/Extension)
| Tenure | Interest Rate |
| For 3 years | 10.90% p.a. |
| For > 3 years | 12.00% p.a. |
Plot Loan for House Construction
| Loan Amount | Interest Rate |
| All loan amount | 12.25% 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
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%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Apply for IDBI Bank Home Loan at Attractive Interest Rates Click Here
IDBI Bank Home Loan Apply Online
Applicants can apply for IDBI Bank Home Loan either through the official website of IDBI Bank or through the IDBI Bank mobile app, IDBI Bank Go Mobile+. They can also visit IDBI Bank branch to apply for IDBI Bank Home Loans. Prospective home loan borrowers can also apply through online financial marketplaces like Paisabazaar.
IDBI Bank Home Loan Processing Fees and Other Charges
Following are the home loan processing fees and other charges levied by the IDBI bank.
Processing and Administrative Charges
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 6,000 |
| Rs 35 lakh-Rs 75 lakh | Rs 7,500 | Rs 8,500 |
| Rs 75 lakh-Rs 125 lakh | Rs 13,500 | Rs 14,500 |
| Above Rs 125 lakh | Rs 13,500 | Rs 15,000 |
| For Inward Balance Transfer or Inward Balance Transfer+Top-up | NIL | NIL |
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 7,000 |
| Rs 35 lakh-Rs 75 lakh | Rs 8,500 | Rs 9,500 |
| Rs 75 lakh-Rs 125 lakh | Rs 14,500 | Rs 16,000 |
| Above Rs 125 lakh | Rs 14,500 | Rs 16,000 |
Note: There is no processing fee for Inward Balance Transfer and Pradhan Mantri Awas Yojna (PMAY).
IDBI Home Loan Foreclosure Charges
| Particulars | Details |
| For Floating Rate Home Loans | NIL |
| For Fixed Rate Home Loans | If own funds:
– Within 6 months from final disbursement: 2% of outstanding loan amount – After 6 months from final disbursement: NIL – If Balance Transfer: 2% on outstanding loan amount |
Documents Required for IDBI Bank Home Loan
Below-mentioned are the document required to avail home loan from IDBI bank.
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
IDBI Home Loan Eligibility
The eligibility criteria to get home loan from IDBI Bank for salaried, self employed professionals and self employed non-professionals are as follow.
| Particulars | Eligibility Criteria |
| 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 |
IDBI Home Loan EMI Calculator
Prospective home loan applicants can use the home loan EMI calculator to calculate the interest cost and EMIs payable throughout the loan tenure. Applicants need to enter the loan amount, loan tenure and interest rate in the home loan EMI calculator given below to get the instant results.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
IDBI Bank Home Loan Customer Care
- Toll-free Number- 1800-209-4324; 1800-22-1070 (24×7 call service)
- Non Toll-free Number- +91-22-67719100
- Outside India- +91-22-67719100
- E-mail: customercare@idbi.co.in
Applicants can also send SMS “IDBICARE” to 9220800800 and bank will call the concerned customer. For further details on customer care and grievance redressal process, click on IDBI Bank Home Loan Customer Care.
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:
| Particulars | Details |
| 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.
FAQs on IDBI Home Loan
What is the current home loan interest rate offered by IDBI Bank?
IDBI Bank offers home loan interest rates ranging from 8.45% p.a. to 12.25% p.a. depending on the type of employment profile, types of home loan and type of interest rates i.e. fixed or floating, availed by the applicants.
What are the documents required for availing IDBI Bank Home Loan?
The documents required for availing IDBI Bank Home Loan include ID proof, address proof, business proof, bank statement, ITR, profit and loss statement, property documents, etc.
How does IDBI Bank decide the eligibility of home loan applicants?
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.
How to apply for IDBI Bank home loan?
Applicants can apply for IDBI Bank Home Loan either directly through the official website of the bank or by visiting any branch of IDBI Bank. However, applicants should also visit online financial marketplaces like Paisabazaar to compare the interest rates and other features offered by other lenders.
What is the minimum CIBIL score for home loan in IDBI Bank?
IDBI Bank has not mentioned the minimum CIBIL Score required for availing home loan. However, applicants having CIBIL Score of 700 and above have higher chances of availing home loans at lower interest rates. Some lenders also offer home loans to applicants having lower CIBIL score but at higher interest rates.
Can I opt between fixed and floating rates?
IDBI Bank home loans are offered at both fixed and floating rates of interest.
What is the maximum home loan amount that I can avail from IDBI Bank?
IDBI Bank has not specified the loan amount that can be availed by home loan applicants. The maximum loan amount limit would depend on the LTV ratio and repayment capacity of its home loan applicants.
Can the applicants get home loan without selecting the property?
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 home loan amount, the property identified for the purpose should meet the eligibility criteria of IDBI Bank.
Can I prepay my home loan availed from IDBI Bank?
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.
What are the different modes of payment of home loan EMI for IDBI Bank?
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.
Is property insurance mandatory for IDBI Bank Home Loan?
IDBI Bank has not mentioned whether buying property insurance is mandatory for IDBI Bank Home Loan or not. However, it is usually not mandatory to purchase property insurance for most lenders.
How much time does it take for IDBI Bank Home Loan approval?
While IDBI Bank has not disclosed the time taken for its home loan approval, it provides in-principal approval of home loans even before the property is selected. However, lenders usually take 2-3 weeks or even more for approving home loan applications.
What is the procedure of reducing the interest rate of an existing IDBI Home Loan?
Existing home loan borrowers of IDBI Bank should first talk to the bank officials for reducing their interest rates. In case the bank does not agree, they can opt for home loan balance transfer facility and transfer their existing home loans to other lenders offering lower interest rates.
What is IDBI Bank Home Loan provisional certificate?
IDBI Bank Home Loan provisional certificate provides the projected principal and interest components of your EMI repayments for the current financial year. A home loan provisional certificate also contains the details of the borrower, home loan account number, details of loan repayment details, home loan interest rate information, principal adjustments, payment updates, missed payments and part-payment details.