IDBI Home Finance Ltd Home Loan

Features

Get loans to buy:

A new house (under construction or ready possession)
An existing house
Construct a house on a plot of land
Pre-approved home loans
Home improvement and home extension loans

Eligibility

At least 21 years of age, employed or self employed with a regular income,
Residential plot resale in approved projects For both parties in First Allotment/Resale by individuals in schemes of Development authorities of each state like CIDCO, MIDC, PCNTDA, MHADB, BDA, DDA, CGEWHO, HUDA, CDA
Freehold land purchased by individuals from private parties, subject to valuation report from approved valuer
NRIs who :

a) earn their salary in a foreign currency

b) are not required to file Income Tax returns in India for their earnings abroad

c) have been in employment abroad for a period of at least 2 years

Loan Amount

Rs. 10, 000 - Rs.1 crore for home loan, extension loan, loan against property (NRIs - Rs. 1 lakh to Rs. 1 crore)
s. 10, 000 to Rs. 20 lakh as Home Improvement Loan (For NRIs the limit ranges between Rs. 1 lakh to Rs. 20 lakh)
Up to Rs. 25 lakh for plot purchase. For NRIs, the maximum limit remains the same, but the minimum limit is Rs. 50, 000

Margin

IDBI Home Finance Ltd Products:

Benefits of Applying Online

When Banks Compete, you win.

Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:

Lowest Interest Rate
Lowest EMI
No Pre-payment charges
Lowest Processing Fees
Maximum Eligible Loan Amount
Mandatory Documents Required
Lowest Processing Fees

Or any other factor that is important to you.

Negotiating Tips

1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.

2) If you go for a floating rate loan then pre-payment charges are not payable.

3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months

4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.