IDBI is one of the premier lending institutions
in the home loan segment. IDBI provides home loans for
constructing a home, purchasing a ready built house/flat,
residential plot and for re-financing existing loans the customer
may have availed from other banks or housing finance companies.
IDBI home loan customers enjoy the flexibility of choosing between
Floating or Fixed interest rate and personalized doorstep service
for a hassle-free experience. Other assorted benefits include
legal and technical assistance, and reassessment and adjustment of
applicant's loan eligibility in case of change of income and
The tenure of an IDBI home loan can be up to 20 years for a
resident Indian and the bank finances up to 90% maximum of the
property value subject to credit discretion. Loan repayment can be
done through Equated Monthly Installments (EMIs) comprising both
principal and interest.
IDBI housing loans come with IDBI insurance cover, which is a
group life insurance protection scheme. Under this scheme, the
borrower can insure himself up to the amount (maximum Rs 50 lacs)
and tenure (maximum 25 years) of the loan availed. This risk cover
is made available in specially discounted insurance premium rates.