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Home Loan Home, sweet home, built out of your dreams.

A place where you return after a hard day's work and relax, a place where you share precious moments with your family. A place that gives you a sense of belonging. IDBI Bank helps you realise your long cherished dream of owning your home through hassle free and customer friendly home loans. Presenting IDBI Bank's ultra flexible home loan you have been looking for. We realise what owning your home means to you and your family. You can avail of the Home Loans for constructing a home, purchasing a ready built house / flat, residential plot and even for re-financing existing loans you may have availed from other banks or housing finance companies. Click here to apply. Advantages of IDBI Bank Ultra Flexible Home Loans

Maximum Funding Flexibility of choosing between Floating or Fixed interest rate Attractive rate of interest EMI on daily reducing balance Personalised doorstep service Simple documentation Legal and technical assistance Balance transfer facility Reassessment and adjustment of applicant's loan eligibility in case of change of income and residence status

Features

Tenor of a home loan can be up to 25 years for a resident individual whereas for NRIs the maximum tenure is 15 years subject to maximum age of 60 years at maturity. Loan can be applied for a maximum of 90% of the property value subject to credit discretion. Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of the title deeds or such collateral security as may be necessary. Title to the property should be clear and free from encumbrance, i.e., without any pending legal litigation adversely affecting the ownership of the property. Other parameters considered include an account of your age, income, number of dependents, financial stability and co-applicants income.

Tax Benefits As per the current finance bill you can get:

A maximum deduction of Rs. 1,50,000 on your income towards interest paid on your home loans u/s 24 A maximum deduction of Rs. 1,00,000 on the principal repaid u/s 80 CCE The above benefits are available subject to you fulfilling certain conditions, for which you should refer the IT Act 1961

Details of IDBI Home Loan. Find Your Eligibility for an IDBI Home Loan Instantly IDBI Home Loan Interest Rate (Daily reducing balance) 11.00% to 12.25% floating Base rate - 10.75% Processing Fees 1% of loan amount IDBI Home Loan Tenure 5 year - 25 years IDBI Home Loan Amount Funded Up to 85% of property value Partial Pre-payment Charges Nil Pre-closure Charges No fee if pre-closed after 6 months without transferring to other banks. 2% to 3% of pre-closed amount otherwise. Guarantor Requirement Guarantor not required