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IDBI Home Loan Eligibility Calculator

IDBI Bank Home Loan Eligibility in India 2021

Last Updated 14th Jun 2021

Eligibility CriteriaIDBI Bank Home Loan
Eligible Age of Borrower22 - 70 years
  • IDBI Bank home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • IDBI calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from IDBI Bank by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

IDBI Home Loan Eligibility

IDBI offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. IDBI housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

IDBI Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum age limit to get IDBI Bank home loan is 22 years at the time of loan commencement and maximum age limit is 70 years. IDBI Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 70 of tenure.

IDBI Home Loan Eligibility based on Salary

  • Net income: Your net monthly income determines how much IDBI Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by IDBI Bank, the loan amount that you will be eligible for would be ₹ 40,65,093 to ₹ 46,93,956 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 81,30,187 to ₹ 93,87,911 for the same property at the same rate depending on your age at the time of loan application. However, IDBI Bank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years46.94 Lakh70.41 Lakh93.88 Lakh
30 years46.94 Lakh70.41 Lakh93.88 Lakh
35 years46.94 Lakh70.41 Lakh93.88 Lakh
40 years46.94 Lakh70.41 Lakh93.88 Lakh
45 years44.37 Lakh66.55 Lakh88.74 Lakh
50 years40.65 Lakh60.98 Lakh81.30 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your IDBI Bank home loan eligibility.

  • Nature of employment: IDBI Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. IDBI Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility IDBI Bank based on Value of Property

  • Value of property: IDBI Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the IDBI Bank's legal team.

The housing loan eligibility calculator of IDBI Bank can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for IDBI Home Loan

  • CIBIL Score: IDBI considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from IDBI However, low CIBIL score reduces your chances to get a home loan. IDBI requires a minimum credit score of 650 to be eligible for a home loan.

IDBI Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by IDBI to determine your home loan eligibility. IDBI Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for IDBI Bank home loan is 0.65. Calculate your eligibility with IDBI Bank home loan calculator and apply for eligible loan amount hassle free.

IDBI Bank Home Loan for Women Eligibility

IDBI Bank offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my IDBI Home Loan Eligibility ?

To check IDBI Bank home loan eligibility perform the following steps:-

  • Go to the IDBI Bank website
  • Now navigate to the option IDBI Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number 1800-209-4324/ 180-022-1070.

Other Loan Calculators

FAQs

What is the criteria to get IDBI Bank home loan?

The basic criteria to get a home loan from IDBI Bank are as following:

Age22 - 70 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from IDBI Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from IDBI Bank?

The minimum salary required to avail home loan from IDBI Bank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in IDBI Bank.

Is IDBI Bank good for home loan?

The lowest interest rate provided by IDBI Bank is 7.40% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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IDBI Home Loan News - Jun 2021
  • 2021-01-15 : IDBI Bank reported Rs 378-crore profit
    IDBI Bank posted a net profit of Rs 378 crore for the December quarter. The loans which includes home, LAP, personal, car, two-wheeler, gold, education and doctor loan along with business and mudra loans fell 7% to Rs 1.6 lakh crore (y-o-y) in December 2020. The bank’s total deposits which includes fixed and recurring deposits rose 2.85% y-o-y to Rs 2.24 lakh crore at the end of December 2020. In addition to this, CASA improved to 48.97% as on December 31, 2020.
  • 2020-10-20 : IDBI Bank launched banking services on WhatsApp
    IDBI Bank launched the banking service on WhatsApp. WhatsApp Banking service will be offered through a dedicated WhatsApp verified number. The bank customers will be able to avail various essential banking services such as account balance information, last five transactions, request for a cheque book and an email statement through newly launched WhatsApp banking services. Further, the details of the nearest IDBI Bank branches or ATMs will also be available via WhatsApp.
  • 2020-07-28 : IDBI Bank reported Q1 net profit of ₹144 crore
    IDBI Bank reported Rs 144 crore net profit for June quarter on account of a reversal of Rs 1335 crore of bad loan provisioning. It is IDBI second successive net profit after 13 consecutive quarters of loss. CASA increased to ₹ 1,04,315 crore and cost of deposit which includes fixed and recurring deposits improved by 64 bps to 4.65%. In addition to this, NII bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans stood at ₹ 1,773 crores.
  • 2020-02-17 : LIC Housing Finance likely to merge with IDBI Bank
    LIC is expected to expedite the merger of its Housing finance arm, LIC Housing Finance with IDBI Bank. This move will help both lenders target more customers as one single entity under the lending platform for home loans. Further, the merger will help customers to get home loans at affordable interest rates
  • 2019-07-22 : IDBI Bank announces a tie-up with New India Assurance Company Limited
    IDBI Bank has entered into a Bancassurance Corporate Agency agreement with the New India Assurance Company Limited. The association with the insurance company has been done to offer various insurance products to its customer base. The lender is also eyeing growth across its retail loan segments including home loans, personal loans, and fixed deposits.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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