Home Loan FAQ
Home Loan - IDBI Bank Home Loan
We will assess your loan eligibility based on your age, qualification, income, number of dependents, spouse income, stability and continuity of your occupation, assets, liability base and your savings history and based on the value of the property proposed to be purchased.
Home Loans are available maximum up to INR 10 Cr.
IDBI Home Loans have maximum repayment tenure of up to 30 years. Actual tenure of loan is subjected to bank’s discretion.
Yes. We can extend in-principle sanction based on your repayment capacity. Accordingly based on the loan amount sanctioned, you may search the property. For final sanction, property identified for the purpose should meet our criteria.
The security for the loan is a first mortgage of the property proposed to be financed with the proceeds of IDBI Home Loans by way of equitable mortgage by deposit of title deeds with memorandum of entry. The Bank will also decide the requirement of additional security if required for the process of loan application.
EMI is equated into monthly installments. This comprises of Principal as well interest component. Interest charged under Home Loan is on reducing Balance.
You may repay your Home Loan by way of SI (Standing Instruction) with IDBI Account or by way of ECS (Electronic Clearing System) instruction on your non IDBI account.