IDBI Bank Home Loan Interest Rate
The Industrial Development Bank of India (IDBI) is a leading financial institution aiding in the country’s economic growth with schemes like affordable home loans. The IDBI Bank home loan interest rate starting at 8.45% per annum makes it possible for several potential homeowners to buy their dream home. The maximum loan duration to repay the loan amount available at IDBI Bank on housing loan schemes is up to 30 years for salaried and up to 20 years for self-employed. Applicants can choose a floater or fixed package rate of interest on home loan IDBI Bank, as per their wish.
IDBI Bank Home Loan EMI Calculator
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Break up of Total Payment
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Principal Amount
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IDBI Bank Home Loan Key Highlights
| Amount of Loan | Up to Rs. 10 crores |
|---|---|
| Rate of Interest | 8.45% p.a. onwards |
| Processing Fees |
0.50% |
| Max Tenure for Loan Repayment | Up to 30 years |
IDBI Bank Home Loan Interest Rates in 2024
Offering housing loans at competitive interest rates starting at merely 8.55% per annum, the IDBI Bank has emerged as the number one choice for several home buyers across the country. You can understand all about the IDBI Bank Home loan interest rate 2024 with the help of the table illustrated below:
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried Applicants | 8.40% - 10.75% p.a. |
| Self-Employed Applicants | 8.50% - 12.25% p.a. |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Repo Linked Lending Rate (RLLR)
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 8.40% per annum onwards |
IDBI Vanilla New Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 8.40% per annum onwards |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Customers | 12 |
Interest rates were last updated on 8th May 2024
IDBI Bank Home Loan Interest Rates for All Schemes in India
IDBI Bank understands that now two buyers will have the same loan needs, so for this, it offers a plethora of home loan schemes to potential home loan borrowers. The table below aims to enlighten you with all the popular IDBI Bank housing loan schemes:
| IDBI Bank Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| IDBI Vanilla Home Loan (Purchase/ Extension/ Construction) |
|
| IDBI Plot Home Loans |
|
| IDBI Rural/Semi-Urban Home Loans |
|
| IDBI Top-Up Home Loan |
|
IDBI Bank Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft
To help borrowers with their financial commitments, IDBI Bank allows them to make use of three convenient home loan schemes, which are described below:
IDBI Bank Home Loan Balance Transfer
The IDBI Bank Balance Transfer is an excellent way of shifting your outstanding loan amount from another bank or NBFC to IDBI to enjoy a lower rate of interest and other amazing benefits. The rate of interest for the IDBI balance transfer home loan starts at 8.40% per annum.
IDBI Bank Home Loan Top-Up
Borrowers can enjoy getting additional funds with the IDBI Top-Up Home Loans. To avail of this home loan facility, existing home loan customers do not need to fill out any separate form. IDBI Bank home loan top-up interest rate starts at 8.40% per annum.
IDBI Bank Home Loan Overdraft Option
The IDBI Bank overdraft facility is the 3rd type of convenient option offered to home loan customers, where they utilize additional funds to meet their financial requirements. The IDBI Bank overdraft facility starts at 8.40% per annum and is available to salaried and self-employed applicants.
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Compare IDBI Bank Home Loan Interest Rate with Top Banks
No doubt IDBI Bank offers easy and reasonable home loans, but to boost your confidence to apply for a home loan at IDBI Bank, we do recommend you to compare its rate of interest and processing fee with other competitors. So, for this, we are presenting a table of comparison between IDBI and some of the leading financial lenders:
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| IDBI Bank | 8.40% p.a. onwards | Rs. 5,000 - Rs. 16,000 |
| LIC HFC | 8.50% p.a. onwards | Up to 0.25% (Maximum Rs. 25,000) |
| Kotak Mahindra Bank | 8.70% p.a. onwards | Up to 1% of the loan amount |
| PNB Housing | 8.75% - 11.45% p.a. | Up to 0.50% (Maximum Rs. 10,000) |
| Karur Vysya Bank | 8.95% p.a. onwards | Rs. 2,500 - Rs. 7,500 + GST |
| DCB Bank | 9.75% p.a. onwards | Up to 2% of the loan amount (Min. Rs. 5,000) |
IDBI Bank Home Loan Balance Transfer Interest Rates
Whether you want to buy a home in urban, rural or semi-urban areas, IDBI Bank is always ready to help you with its affordable housing loan schemes. You can enjoy transferring your existing home loan amount to enjoy the flexible IDBI Bank Home Loan Balance Transfer scheme at better rates and benefits.
The IDBI Bank Balance Transfer interest rate starts at 8.40% per annum. Remember it can change as per the discretion of the bank. Interested applicants can easily transfer to IDBI home loans via a balance transfer scheme by following these steps:
- Visit the BASIC Home Loan website and go to the Repay Right section
- Enter the required details in the online form
- Click ‘Next’ to proceed to the next page
- Feel free to check the savings made by choosing the IDBI Bank Home Loan Balance Transfer option
- Alternatively, you may contact the BASIC Home Loan team to opt for a balance transfer scheme
Get Home Loan Starting at 8.5%*
How to Calculate IDBI Bank Home Loan Interest Rates?
To avoid any confusion regarding IDBI Bank home loan EMI, we suggest you use the simplest and most accurate online EMI Calculator available at https://www.basichomeloan.com/emi. The table given below will help you get an idea of the monthly EMI payable for different tenures, including 10, 20, and 30 years for IDBI Bank home loans at an interest rate of 8.40% p.a.
IDBI Bank Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 8.40% p.a. | Rs. 12,345 | Rs. 8,615 | Rs. 7,618 |
| Rs. 20 lakh | 8.40% p.a. | Rs. 24,690 | Rs. 17,230 | Rs. 15,237 |
| Rs. 30 lakh | 8.40% p.a. | Rs. 37,035 | Rs. 25,845 | Rs. 22,855 |
| Rs. 40 lakh | 8.40% p.a. | Rs. 49,381 | Rs. 34,460 | Rs. 30,474 |
| Rs. 50 lakh | 8.40% p.a. | Rs. 61,726 | Rs. 43,075 | Rs. 39,092 |
| Rs. 60 lakh | 8.40% p.a. | Rs. 74,071 | Rs. 51,690 | Rs. 45,710 |
| Rs. 70 lakh | 8.40% p.a. | Rs. 86,416 | Rs. 60,305 | Rs. 53,329 |
| Rs. 80 lakh | 8.40% p.a. | Rs. 98,761 | Rs. 68,920 | Rs. 60,947 |
| Rs. 90 lakh | 8.40% p.a. | Rs. 1,11,106 | Rs. 77,535 | Rs. 68,565 |
| Rs. 1 crore | 8.40% p.a. | Rs. 1,23,452 | Rs. 86,150 | Rs. 76,184 |
The information rendered to you through the table above aimed to give you an idea about the monthly EMI payable at an interest rate of 8.40% p.a. offered by IDBI Bank. These data may vary from bank to bank, so do confirm the same before you apply for a housing loan.
FAQ's
IDBI Balance Transfer Home Loan is a convenient way of allowing borrowers of a home loan from another lender to shift their outstanding loan amount to IDBI Bank. Flexible repayment options, lower rates of interest, and tax benefits are some of the key benefits of the IDBI Balance Transfer Home Loan Scheme.
IDBI Bank offers both fixed and floating interest rates for home loans. You can choose the one that best suits your needs.
Yes, borrowers can easily download their home loan interest certificate online through IDBI Phone Banking or Net Banking facility.
IDBI Bank charges a processing fee ranging between Rs. 5,000 - Rs. 16,000 on home loan applications.
IDBI Bank will charge an interest rate starting at 8.40% per annum on a Rs. 20 lakh home loan. However, this may vary depending on the varied terms and conditions of the bank, so you are advised to confirm the same from the bank officials.