15 Lakh IDBI Bank Home Loan

IDBI Bank helps you make your dream home a reality. They offer affordable interest rates (starting at 8.45%, subject to change) and flexible repayment plans (up to 30 years) to fit your budget. Plus, applying for a loan is easy, with minimal fees. IDBI Bank goes the extra mile with features like no prepayment penalties and the option to make partial payments towards your loan. Whether you're buying a new home, building your dream house, or fixing up your current one, IDBI Bank home loans has a home loan solution for you.

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Table of Content

1. 15 Lakh Home Loan IDBI Bank Highlights

2. 15 Lakh Home Loan EMI For 5 Years IDBI Bank

3. 15 Lakh Home Loan EMI For 10 Years IDBI Bank

4. 15 Lakh Home Loan EMI For 15 Years IDBI Bank

5. 15 Lakh Home Loan EMI For 20 Years IDBI Bank

6. 15 Lakh Home Loan EMI For 25 Years IDBI Bank

7. 15 Lakh IDBI Bank Home Loan Fees and Charges

8. 15 Lakh IDBI Bank Home Loan Documents Required

9. 15 Lakh IDBI Bank Home Loan Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

15 Lakh Home Loan IDBI Bank – Highlights

Here are some highlights of the 15 lakh IDBI Bank home loan:

Parameter	Details
Loan Tenure	Up to 30 years
Interest Rate	8.45% – 10.75%
Processing Fee	5,000 to 15,000 INR
Penal Interest Rate	2% per annum

15 Lakh Home Loan EMI For 5 Years IDBI Bank

We have calculated the EMI of a 15 lakh home loan from IDBI Bank. So that you can plan without any hassle:

Loan Amount	Interest Rate	Loan Tenure	Monthly EMI (Approx.)	Total Interest Payable	Total Payment (Principal + Interest)
15,00,000 INR	8.50% p.a.	5 years	30,792 INR	1,84,523 INR	16,84,523 INR

15 Lakh Home Loan EMI For 10 Years IDBI Bank

EMI of a 15 lakh home loan for 10 years. The interest rate may vary according to your credit score:

Loan Amount	Interest Rate	Loan Tenure	Monthly EMI (Approx.)	Total Interest Payable	Total Payment (Principal + Interest)
15,00,000 INR	8.50% p.a.	10 years	18,211 INR	5,86,338 INR	20,86,338 INR

15 Lakh Home Loan EMI For 15 Years IDBI Bank

Here are the EMI details of the 15 lakh home loan from IDBI Bank:

Loan Amount	Interest Rate	Loan Tenure	Monthly EMI (Approx.)	Total Interest Payable	Total Payment (Principal + Interest)
15,00,000 INR	8.50% p.a.	15 years	15,081 INR	8,14,561 INR	23,14,561 INR

15 Lakh Home Loan EMI For 20 Years IDBI Bank

Given below are the details of a 15 lakh home loan EMI for a tenure of 20 years:

Loan Amount	Interest Rate	Loan Tenure	Monthly EMI (Approx.)	Total Interest Payable	Total Payment (Principal + Interest)
15,00,000 INR	8.50% p.a.	20 years	13,380 INR	12,23,121 INR	27,23,121 INR

15 Lakh Home Loan EMI For 25 Years IDBI Bank

Know how your EMI is going to look for 25 years with a 15 lakh home loan from IDBI Bank:

Loan Amount	Interest Rate	Loan Tenure	Monthly EMI (Approx.)	Total Interest Payable	Total Payment (Principal + Interest)
15,00,000 INR	8.50% p.a.	25 years	12,737 INR	20,21,033 INR	35,21,033 INR

15 Lakh IDBI Bank Home Loan – Fees and Charges

Fees and charges for a 15 lakh home loan from IDBI Bank:

Foreclosure Charges:
- Floating Rate Home Loans to Individuals: NIL
- Fixed Rate Home Loans (within 6 months): 2% on outstanding amount
Part Payment Terms:
- Home Loan: Not more than one prepayment in a month, minimum INR 25,000
- Loan Against Property: Four times in a financial year, a maximum of 30% of the sanctioned amount
Processing & Administrative Fees:
- Based on loan amount ranges, starting from INR 5,000 for home loans up to Rs. 35 lakh
Interest Rate Conversion Charges:
- From floating rate to another applicable rate: Rs. 5,000 for individual accounts
Other Charges:
- NEFT/RTGS/IMPS charges vary by transaction amount
- Cash deposit and chequebook issuance charges are applicable

15 Lakh IDBI Bank Home Loan – Documents Required

To apply for a 15 lakh home loan with IDBI Bank, you’ll need to submit a completed application form with a recent photo, along with valid ID proof and proof of residence. Additionally, they require income verification documents, including the latest 3 months’ salary slips/income statements, Income Tax Returns (ITR) for the past two years with income computation, and your bank statements for the last six months reflecting salary credits and other transactions.

15 Lakh IDBI Bank Home Loan – Eligibility Criteria

Eligibility criteria for a 15 lakh home loan from IDBI Bank:

Open to both salaried individuals and self-employed professionals.
Applicants must be at least 22 years old and not older than 70.
Demonstrated income stability and sufficient financial capacity to repay the loan.
Required documents include valid identity proof, address proof, income proof, and any additional documents specified by IDBI Bank.

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Frequently Asked Questions (FAQs)

What is the EMI for a 15 lakh home loan for 20 years at IDBI Bank?

For a 15 lakh loan over 20 years, IDBI Bank’s current interest rates, ranging from approximately 8.45% to 10.75%, would translate to an estimated EMI between ₹13,787 and ₹16,561 per month.

Who is eligible for a 15 lakh home loan at IDBI Bank?

Eligible applicants for a 15 lakh home loan at IDBI Bank include salaried individuals and self-employed professionals who fulfil the bank’s criteria, which encompass factors such as age, income stability, creditworthiness, and other financial prerequisites.

What is the monthly interest rate of a 15 lakh home loan at IDBI Bank?

The monthly interest rate is derived by dividing the annual interest rate by 12. For instance, with an annual rate starting at 8.45%, the monthly interest rate would be approximately 0.7042%. This rate influences the monthly instalment (EMI) calculation for the loan amount.