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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. We are here to help you realize your long cherished dream of owning your home through hassle free and customer friendly home loans. Eligibility
Age: At least 21 years of age and are employed or self employed
Co-applicant
You can include your spouse/parents/brother/sister as co-applicant. We will
be glad to include his/her income in enhancing your loan amount (provided
the co-applicant meets certain conditions). You can even have your fiancé/fiancée
as a co-applicant.
Loan Amount
You can get a loan from Rs 10,000 up to a maximum of Rs 1 crore. Your loan
amount will depend upon your repayment capacity, as mutually determined
by you and IDBI Homefinance (subject to a maximum of 90% of the cost of
property). In case you wish to construct a house on a plot of land, the
loan amount could go up to 100% of the cost of construction.
Period
The maximum repayment period is 20 years and should not extend beyond your
retirement age or 65 years if you are self employed, whichever is earlier
Other Charges - Fees
| Loan Amount | Processing & Admin Fees |
| Up to Rs. 1 crore | 1% of loan amount, payable upfront |
Repayment
Repayment of your loan will be in Equated Monthly Installments (EMIs), comprising
of principal and interest calculated annually.
Documents
The following list of documents will be needed while applying for a home
loan :
• Residence and age proof, which can be established from the Ration Card,
Birth Certificate, School Leaving Certificate, Election ID, PAN Card, Drivers
License or Passport.
• Signature verification from the banker from where the post-dated cheques
are issued.
• Bank statements for the last six months.
For salaried individuals :
• Latest salary slip
• Form 16 from the employer
For self employed individuals :
• Certified copies of Balance Sheet and Profit and Loss account, Income
Tax Returns' acknowledgments, Advance Tax challans (for both company/firm
and personal account) for the last three years.
• Memorandum/Articles of Association for companies/partnership deeds for
firms. And a brief profile of your co
Know
the Rate of interest charged by major banks for Home Loan.
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