IDBI Loan Against Property Interest Rate Calculator - Dec 2016

IDBI Bank Loan Against Property Interest Rates

Last Updated 07th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 10.70% - 10.70%
Check Special Offers
Lowest EMI Rs. 1,118 per lakh
Max Tenure 15 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 22 and Max 60 years for Salaried
Min 25 and Max 70 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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IDBI Bank Loan Against Property

IDBI Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 65% of the market’s value for tenure of 18 years.

Loan Against Property IDBI

Loan Against Property interest rates offered by IDBI Bank depends upon MCLR
  • Floating rates changes with a single change in IDBI Bank 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 Property Loan based on 1 Year MCLR which is currently 9.30%
IDBI Bank mortgage loan interest rate depends upon
  • Loan amount: IDBI Bank mortgage loan rate 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 Loan Against Property. 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

Loan Against Property 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 loan against property with Own sources; within 6 months-2%-3%,after that -NIL.Refinance 2%-3% prepayment charges
Processing Fee - IDBI Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

IDBI Loan Against Property EMI Calculator

Loan Against Property EMI of IDBI Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • IDBI Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Loan Against Property EMI?
  • IDBI Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • IDBI Bank EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria IDBI Bank
Eligibility of Loan Against Property 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: IDBI Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 70 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: IDBI Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. IDBI Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. IDBI Bank gives maximum LTV of 65% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. IDBI Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. IDBI Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, IDBI Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.100,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 0 years and minimum ITR of last 1years is required as proof to IDBI Bank
Estimated eligibility online by using Eligibility Calculator.

IDBI Bank Floating Rate Loan Against Property

IDBI Bank Loan Against Property Floating
Upto Rs. 2,500,000 - 10.70%
Rs. 2,500,001 - 7,500,000 - 10.70%
Rs. 7,500,001 - 30,000,000 - 10.70%
Above Rs. 30,000,000 - 10.70% linked to 1 Year MCLR
with OD Facility
Upto Rs. 2,500,000 - 10.95%
Above Rs. 2,500,001 - 7,500,000 - 10.95%
Above Rs. 7,500,001 - 30,000,000 - 10.95%
Above Rs. 30,000,000 - 10.95% linked to 1 Year MCLR

IDBI Bank Loan Against Property Top up, Transfer

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

Loan Against Property IDBI documents required

Loan Against Property for Salaried employee IDBI Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 1 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

Loan Against Property 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 1 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

Property documents for Loan Against Property from IDBI Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of IDBI Bank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
01st Aug 16 9.65% decreased by 0.1%
05th Apr 16: 0.25% repo cut by RBI
30th Sep 15 9.75% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
07th May 15 10.00% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
01st Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
20th Apr 12 10.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
05th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
08th Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% increased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.00%

IDBI MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in IDBI ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from IDBI Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to IDBI Bank and other banks and all EMI's have been paid. Note that IDBI Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to IDBI Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will IDBI mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on IDBI Bank property loan is linked to its 1 Year MCLR, which is currently 9.30%. So, when IDBI Bank offers a loan against property at 10.70%, it applies a 1.4% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of IDBI Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on IDBI loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

IDBI Bank Loan Against Property in India

IDBI Bank Loan Against Property 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 Loan Against Property News - Dec 2016
12th Aug 16 IDBI Bank Q1 net profit rises 78 per cent to Rs241.10 crore on tax write back
IDBI Bank has reported an increase of 78.35 per cent in its net profit in the June quarter of FY17 due to a large tax write back during the quarter. Net profit rose to Rs. 241.10 in June quarter of current fiscal crore from Rs. 135.18 crore in the same period of previous year. Net interest income of the bank rose by 14.2 per cent to Rs. 1706.50 crore in the June quarter of FY17 from Rs.1494.33 crore in the same period of FY16. Gross NPAs as a percentage rose by 9.65 per cent to Rs. 27275.15 crore in June quarter from Rs. 24875.07 crore in the March quarter. Net NPAs of the bank stood at 7.47 per cent in the June quarter up from 6.78 per cent in the previous quarter ending March 2016 and 3.18 per cent in the same quarter last year.
29th Jul 16 IDBI Bank cuts base rate by 10bps to 9.65%
With effect from 1st August 2016, IDBI Bank has announced a cut of 10 basis points in its base rate and base rate will stand revised to 9.65 percent. The Bank has also announced a reduction in Benchmark Prime Lending Rate (BPLR) to 14.15 percent.. If you have taken Home Loan or Persona Loan from IDBI before 1st April 2016 at floating rate then you will benefit from this rate cut. But if have taken home loan at fixed rate you will not be effected by the rate cut.
20th Jun 16 Bank Q4 net loss at Rs 1,736 crore as bad loans double
IDBI Bank announced a net loss of Rs 1,735.81 crore for Q4FY16 due to the increase in bad loans. Total income for the bank also decreased to Rs 8,274.58 crore during the March quarter as against Rs 9,382.37 crore in the year ago period. Net NPA of the bank stood at 6.78 per cent as compared to 2.88 per cent a year ago
04th Nov 15 IDBI Bank profit flat at Rs 120 cr as bad loans mount
IDBI Bank reported a flat net profit at Rs 120 crore in the three months to September due to higher provisioning for bad loans.
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