Home Loan – IDBI Bank Home Loan
We will assess your loan eligibility based on your age, qualification, income, number of dependents, spouse income, stability and continuity of your occupation, assets, liability base and your savings history and based on the value of the property proposed to be purchased.
You can apply for IDBI Home Loan by selecting any one of following ways.
IDBI Bank Branch Locator: Click here to know the Branch nearest to your location. Contact our Branch Personnel.
Home Loans are available from Rs 5 Lakh to Rs 10 cr.
IDBI Home Loans have maximum repayment tenure of up to 25 years. Actual tenure of loan is subjected to bank�s discretion.
Yes. We can extend in-principle sanction based on your repayment capacity. Accordingly based on the loan amount sanctioned, you may search the property. For final sanction, property identified for the purpose should meet our criteria.
Yes. As per Income tax rule Resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Interest repayment of Rs. 1, 50,000/- p.a. and Principle repayment up to Rs 100000 p.a. (u/s 80 C) are deductible under income tax,
The security for the loan is a first mortgage of the property proposed to be financed with the proceeds of IDBI Home Loans by way of equitable mortgage by deposit of title deeds with memorandum of entry. The Bank will also decide the requirement of additional security if required for the process of loan application.
You can reduce your interest cost by availing our product Home Loan Interest Saver. Please click here to know the details .