IDBI Home Loan Interest Rate Calculator - Feb 2017

IDBI Bank Home Loan Interest Rates

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Last Updated 23rd Feb 2017
8th Feb 2017 – RBI keeps repo rate and other policy interest rates unchanged
Interest Rate 9.15% - 9.15%
Check Special Offer
Lowest EMI Rs. 815 per lakh
Max Tenure 30 years
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 22 and Max 70 years for Salaried
Min 25 and Max 70 years for Self Employed
Apply Home Loan Online @8.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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IDBI Bank Home Loan

IDBI Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan IDBI

Home loan interest rates offered by IDBI Bank depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
IDBI Bank offers home loan based on 1 Year MCLR rates which is currently 8.80%.
IDBI Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in IDBI Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: IDBI Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. IDBI Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. IDBI Bank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - IDBI Bank asks for a processing fee of 0.00% of loan amount with applicable service tax

IDBI Home Loan EMI Calculator

    Home Loan EMI of IDBI Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of IDBI Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating IDBI Bank Home Loan EMI?
  • EMI calculator of IDBI Bank helps you to calculate your monthly EMI at different rate of interest
  • IDBI Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

IDBI Home Loan Eligibility Calculator

Home Loan eligibility criteria IDBI Bank
Eligibility of House loan in IDBI Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. IDBI Bank offers Home loan to salaried at the age of 22 to 70 years and self employed individuals at 25 to 70 years
  • Income: In case of salaried person, IDBI Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from IDBI Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your IDBI Bank eligibility. If you are working with a reputed company, probability of getting home loan from IDBI Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: IDBI Bank gives you Home loan depending upon your income. IDBI Bank gives you an amount ranging from Rs. 500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    IDBI Bank Floating Rate Home Loans

    IDBI Bank Home Loan Floating
    Upto Rs. 2,500,000 - 9.15%
    Rs. 2,500,001 - 7,500,000 - 9.15%
    Rs. 7,500,001 - 20,000,000 - 9.15%
    Above Rs. 20,000,000 - 9.15% linked to 1 Year MCLR
    with Home Loan Interest Saver Facility
    Upto Rs. 2,500,000 - 9.20%
    Above Rs. 2,500,001 - 7,500,000 - 9.20%
    Above Rs. 7,500,001 - 20,000,000 - 9.20%
    Above Rs. 20,000,000 - 9.20% linked to 1 Year MCLR

    IDBI Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to IDBI Bank?
    IDBI Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of IDBI Bank
    You can avail additional top-up home loan from IDBI Bank, subject to your eligibility

    Housing Loan IDBI documents required

    Home Loan for Salaried employee IDBI Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed IDBI Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 3 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from IDBI Bank?
    IDBI Bank offers home loan at lower rate of interest i.e. at 9.15% with the lowest EMI of Rs. 815 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to IDBI Bank.
    What is the maximum loan tenure I can opt under IDBI Bank house loan?
    IDBI Bank offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from IDBI Bank?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to IDBI Bank?
    Yes, IDBI Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to IDBI Bank offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in IDBI Bank?
    The benchmark applicable for home loan in IDBI Bank is 1 Year MCLR.
    What is the effect of part payments on IDBI Bank housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on IDBI Bank housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on IDBI Bank housing loan change in future?
    • Floating interest rate on IDBI Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.80%. So, when IDBI Bank offers a home loan at 9.15%, it applies a premium of 0.35% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    IDBI Bank Home Loan in India

    IDBI Bank Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-200-1947
    Ahmedabad 1800-200-1947
    Ambala 1800-200-1947
    Anand 1800-200-1947
    Aurangabad 022 2207 8732
    Bangalore 080 2238 6757
    Bhilai 1800-200-1947
    Bhilwara 1800-200-1947
    Bhiwadi 1800-200-1947
    Bhopal 1800-200-1947
    Bhubaneswar Cuttack 1800-200-1947
    Bikaner 1800-200-1947
    Chandigarh 1800-200-1947
    Chennai 044 4303 6648
    Cochin 1800-200-1947
    Coimbatore 1800-200-1947
    Dehradun 1800-200-1947
    Delhi 011 2399 4348
    Durg 011 2399 4348
    Faridabad 011 2399 4348
    Gandhinagar 022 2207 8732
    Ghaziabad 0120 270 0798
    Goa 0832 242 6525
    Greater Noida 0120 270 0798
    Gurgaon 0120 270 0798
    Guwahati 1800-200-1947
    Gwalior 1800-200-1947
    Hyderabad 040 6690 8171
    Indore 1800-200-1947
    Jabalpur 1800-200-1947
    Jaipur 1800-200-1947
    Jalandhar 1800-200-1947
    Jodhpur 1800-200-1947
    Kanpur 1800-200-1947
    Karnal 1800-200-1947
    Kolhapur 022 2207 8732
    Kolkata 033 2568 6253
    Kota 1800-200-1947
    Kozhikode 1800-200-1947
    Lucknow 1800-200-1947
    Ludhiana 1800-200-1947
    Madurai 1800-200-1947
    Meerut 1800-200-1947
    Mehsana 1800-200-1947
    Mohali Sas Nagar 1800-200-1947
    Mumbai 022 2207 8732
    Mussoorie 1800-200-1947
    Nagpur 022 2207 8732
    Nashik 022 2207 8732
    Noida 0120 270 0798
    Noida Extn. 0120 270 0798
    Panipat 1800-200-1947
    Patna 1800-200-1947
    Pondicherry 1800-200-1947
    Pune 020 6603 0300
    Raipur 1800-200-1947
    Rajkot 1800-200-1947
    Ranchi 1800-200-1947
    Rohtak 1800-200-1947
    Roorkee 1800-200-1947
    Salem 044 4303 6648
    Shimla 1800-200-1947
    Sonepat 1800-200-1947
    Surat 1800-200-1947
    Trichy 1800-200-1947
    Udaipur 1800-200-1947
    Vadodara 1800-200-1947
    Varanasi 1800-200-1947
    Vijaywada 1800-200-1947
    Vizag 1800-200-1947
IDBI Home Loan Interest Rate News - Feb 2017
07th Feb 17 IDBI Bank cuts home loan interest rates
IDBI Bank has reduced its home loan interest rates by 60 basis points for new home loan borrowers. The revised home loan interest rate now stands at 8.55 percent as compared to 9.15 percent earlier. The new rate is effective from 1st February, 2017.
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