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IDBI Home Loan Interest Rates 2022

IDBI Bank Housing Loan Interest Rate -Today

Last Updated 23rd Dec 2021

Loan AmountIDBI Bank Repo Rate Home Loan RateHome Loan Interest Saver
Upto ₹ 35 Lakh6.75%9.30%
₹ 35 Lakh - ₹ 75 Lakh6.75%9.30%
₹ 75 Lakh - ₹ 2 Cr6.75%9.30%
Above ₹ 2 Cr6.75%9.30%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

IDBI Bank Home Loan Rate

IDBI Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.75% up to 8.40%. Apart from the interest rate, the bank also has various other charges such as IDBI Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

IDBI Bank Home Loan Processing Fee and Other Charges

IDBI Bank home loan processing charges are upto 0.50% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. IDBI Bank charges a minimum processing of ₹ 2,500 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.50% of the loan amount; minimum processing fee of ₹ 2,500
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on IDBI Home Loans Schemes

IDBI Bank offers a housing loan interest rate at 6.75%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, IDBI Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are IDBI Bank home loan rates for multiple housing schemes.

IDBI Bank Home Loan Scheme Interest Rates
IDBI Bank Repo Rate Home Loan 6.75% - 8.40%

IDBI Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in IDBI for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 35 Lakh 6.75%
₹ 35 Lakh - ₹ 75 Lakh 6.75%
₹ 75 Lakh - 2 Cr 6.75%
Above ₹ 2 Cr 6.75%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 35 Lakh 6.75%
₹ 35 Lakh - ₹ 75 Lakh 6.75%
₹ 75 Lakh - 2 Cr 6.75%
Above ₹ 2 Cr 6.75%

IDBI Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount IDBI Home Loan Rate For Women IDBI Home Loan Rate For Govt Employee
Upto ₹ 35 Lakh 6.75% 6.75%
₹ 35 Lakh - ₹ 75 Lakh 6.75% 6.75%
₹ 75 Lakh - 2 Cr 6.75% 6.75%
Above ₹ 2 Cr 6.75% 6.75%

IDBI Home Loan Balance Transfer Interest Rates

IDBI Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to IDBI Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, IDBI Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate IDBI Bank
Maximum Annual Percentage Rate (APR) 6.77% to 8.42%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • IDBI Bank Home Loan Interest Rate: 6.75% to 8.40%
  • Processing Fee payable to: Upto ₹ 500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 649 for 30 Years ₹ 1,00,000 loan at 6.75% (lowest rate, longest time period) to ₹ 2,047 for 5 Years ₹ 1,00,000 loan at 8.40% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.77% to 8.42%
  • Total cost payable over loan tenure: ₹ 1,18,601 for 5 Years loan to ₹ 2,33,996 for 30 Years loan

FAQs

Has IDBI reduced home loan rates?

As per the current rates, IDBI has cut its home loan rates by 0.2% from 6.95% to 6.75%, which is one of the best rates in the market. The new rates are effective from 06 Jul, 2021.

Why should I opt for balance transfer to IDBI Bank?

IDBI Bank offers lowest Home Loan EMI of ₹ 649 per lakh availed at the lowest interest rate 6.75% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 649 per lakh, you should consider the option for a loan transfer to IDBI from your existing bank. Current IDBI balance transfer rate is 6.50%.

Can IDBI Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with IDBI to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can IDBI revise the home loan interest rates for their existing customers?

Yes, IDBI offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does IDBI offer a concessional home loan interest rate for women?

Yes, IDBI offers special home loan interest rates for women. As against IDBI home loan rates for male which is 6.75%, the home loan interest rate for women starts at %.

What is the IDBI home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, IDBI provides home loan interest rate starting at 6.75%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an IDBI employee get a home loan?

IDBI offers concessional home loan rates of about 1% than the current home loan rates to IDBI employees.

Is IDBI Bank home loan a floating rate loan or fixed-rate loan?

IDBI home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the IDBI home loan rate today ?

IDBI home loan rate today is in the range of 6.75% to 8.40%.The bank also charges a processing fee of upto Upto 0.50%, Minimum ₹ 2,500 of the home loan amount.

How much interest does IDBI take on home loans?

The rate of interest on IDBI home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, IDBI home loan current interest rate 2021 are in the range of 6.75% to 8.40%.


IDBI Bank Home Loan Reviews 4.3/5  by 2 customers
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IDBI Home Loan News - Jan 2022
  • 2021-10-22 : IDBI Bank Net Profit Jumps To 75 percent
    IDBI Bank reported a 75 percent year-on-year (y-o-y) jump in net profit to Rs 567 crore for the quarter ended September. This is a result driven by a reduction in employee costs and an improvement in net interest income (NII). The bank’s NII, or the difference between interest earned and interest expended, rose 9.45 percent y-o-y to Rs 1,854 crore.
  • 2021-10-07 : IDBI Bank Introduces Special Festive Offer
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  • 2021-06-10 : IDBI Bank revised its MCLR
    With effect from 08 June,2021, IDBI Bank revised its marginal cost of lending rates. The overnight, one-month and three months MCLR is 7.90%, 7.90% and 7.95%, respectively. The MCLR for six months and one year is 8.10% and 8.25%.
  • 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.
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    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.
*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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