Online Apply for Home Loan IDBI Bank | Eligibility | EMI Calculator

Online Apply for Home Loan IDBI Bank | Eligibility | EMI Calculator

 

Home Loan – IDBI Bank Home Loan provides easiest EMI Options. Now you just need to check your eligibility, Documents requirement and apply for Home Loan.

IDBI Bank gives Home loan with 30 years of tenure.

Bank will assess your loan eligibility based on your qualification age and 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.

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.

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.

Home Loan Interest Rate

Home Loan Interest Saver provides you the facility of linking your Home Loan account with the Flexi Current Account. (The interest liability of your home loan. comes down to the extent of surplus funds parked in the operative current account.

You can decide what amount you want to pay for your Home Loan interest. The Product facilitates you to save the interest cost and repay the loan much faster.

Home Loan Eligibility

As per Income tax rule Resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Interest repayment of Rs. 1, 50,000/- p.a. and Principle repayment up to Rs 100000 p.a. (u/s 80 C) are deductible under income tax,

Interest on Home loans will be calculated on outstanding balance of loan minus balance in the Current Account based on EOD balance.

You can decide what amount you want to pay for your Home Loan interest. The Product facilitates you to save the interest cost and repay the loan much faster.

As per Income tax rule Resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Interest repayment of Rs. 1, 50,000/- p.a. and Principle repayment up to Rs 100000 p.a. (u/s 80 C) are deductible under income tax,

How to Apply for Home Loan In IDBI Bank

  • First of all Download Home Loan Application form and fill this.
  • Now visit your nearest Bank Branch.
  • You can also contact your IDBI Bank Home Loan Office in your City.
  • That’s it you have completed your task now bank will verify your application. And, according to your application bank will approve you Home Loan Amount.

 

IDBI Bank Home Loan advantages

 

  • IDBI Bank provides assistance in property search and due-diligence of property for acquisition.
  • Extensive Range of Home Loan Products viz. Home Loan Interest Saver. HL -Top up, Home Loan – takeover facility, Home Improvement Loan, Home Extension Loan. Home Loan – Booking Finance, Loan on second Charge/Pari-passu charge and Home Loan-Refinance Facility.
  • IDBI Bank provides customized home loan for needed people.
  • Easiest EMI Options.
  • Loan apply from anywhere in India.
  • Online Applications facilities.

 

IDBI Bank Home Loan

 

Documents requirement for Home Loan.

 

Parameters Salaried Self-Employed (Businessmen) Self-Employed (Professional)
Age Proof (Any one document) School Leaving Certificate Same Same
Passport
Driving Licence
Voter ID Card
Birth Certificate by local Authority
LIC Policy or Certificate issued by the gram panchayat talati or an authorized person
Identity Proof Photograph and any one of the following Same Same
Passport
Driving Licence
Pan Card
Photo Credit Card (with embossed signature) and last 2 month statement
Employee ID Card (Salaried)
Banker Sign Verification
Voter ID Card
Adhaar Card
Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank
confirmation letter from employer/other bank (Subject to satisfaction of the bank)
Address Proof Passport Same Same
Latest Electricity or telephone bill (Accepted if issued by government or reputed company
title deed of the property
latest house lease agreement duly stamped
Driving Licence
Adhaar Card
Voter ID Card
Photo Credit Card (with 2 month statement)
Latest copy of LIC Insurance policy or premium receipt.
Bank account statement or passbook
employer letter certifying current mailing address
Employee ID Card (Salaried)
Signature proof Pan Card
Passport
Banker Verification
Photo ID Credit Card
Self sign Cheque
Income Proof Last one year form 16/IT returns for last 2 years supported by appointment letter/ employed certificate Copy of last 3 years income tax returns of the applicant along with computation of income duly attested by charted accountant Same
Salary Slip for the last months / Salary Certificate copy of last 3 years balance sheet and profit and loss account of the firm duly attested by a charted accountant along with the all schedules
Company profile
Banking History Last 6 Month Bank statement. Bank statement for the last 1 year for the saving account and current account Bank statement for the last 1 year for the saving account and current account
 – running cc limit/OD limit statement for last 6 months running cc limit/OD limit statement for last 6 months
Business Proof Copy of either shop & Established licence / VAT Registration or any other mandotary licence registration Same
Other Mandatory Documents Educational qualification Certificate Self declartion proprietorship (if Applicable) Practice Certifcate
processing fee cheque Partnership Deed Salary Certificate (in Case of doctors having salaried income
loan application form duly filled-in along with photographs. MOA, AOA, Certificate of registration business commencement certificate (if Applicable). educational qualification certificate
letter of authority to borrow / board resolution to borrow (if Applicable) Copy of advance tax paid/ self assessment tax paid Challan
 – Copy of tax Deduction certificate / form 16 A (if Applicable) details of contract (if Applicable)
 – Brief business profile on the letter head of the firm by the applicant ( state how large is the client in his business in the city, location, infrastructure area in Sqft of the business premises, customer segmentation, brand sold, average margins, expansion plans,feature prospectus etc. Copy of Tax Deduction Certificate form 16A ( if Applicable)
 – processing fee cheque Copy of the Partnership deed (if Applicable)
 – educational qualification certificate Brief business profile on the letter head of the firm by the applicant ( state how large is the client in his business in the city, location, infrastructure area in Sqft of the business premises, customer segmentation, brand sold, average margins, expansion plans,feature prospectus etc.
 – loan application form duly filled-in along with photographs processing fee cheque
 – educational qualification certificate
 – loan application form duly filled-in along with photographs

 

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