35 Lakh IDBI Bank Home Loan

Imagine stepping into your home, a space reflecting your dreams and aspirations. That dream is within reach with IDBI Bank's ₹35 Lakh Home Loan. IDBI Bank understands the significance of homeownership, and their home loan solutions are designed to empower you throughout this exciting journey. IDBI Bank offers competitive interest rates and flexible repayment options on home loans up to ₹35 Lakh. This makes it an ideal choice for first-time homebuyers or those seeking to upgrade their living space. Whether you're drawn to a cosy apartment or a spacious bungalow, IDBI Bank's ₹35 Lakh Home Loan can bridge the gap between your aspirations and reality. Intrigued? Read on to explore the benefits of IDBI Bank's ₹35 Lakh Home Loan and discover how we can help you unlock the door to your dream home.

35 Lakh Home Loan IDBI Bank – Highlights

Take a look at the features of 35 Lakh Home Loan IDBI Bank:

IDBI Bank 35 Lakh Home Loan EMI for 5 – 25 Years 

Here’s the corrected table outlining the EMI breakdown for a ₹35 Lakh home loan with IDBI Bank at an 8.45% interest rate:

35 Lakh IDBI Bank Home Loan – Fees and Charges 

Understanding the fees associated with your home loan is crucial for budgeting and making informed decisions. Here’s a breakdown of the key changes to consider for a 35 Lakh IDBI Bank Home Loan:

Processing Fee:

• Plain Vanilla & Rural/Semi-urban Housing Loan: ₹5,000 for salaried and self-employed professionals.
• IDBI Neev & Neev 2.0: Slightly higher processing fee compared to Plain Vanilla, at ₹6,000 for salaried and self-employed professionals.

Foreclosure Charges (applicable only if you prepay the entire loan before the tenure ends):

• Floating Rate Loans: No foreclosure charges.
• Fixed Rate Loans:
  • Within 6 months of disbursement: 2% of the outstanding loan amount.
  • After 6 months: No foreclosure charge.
• Balance Transfer: A flat 2% charge on the outstanding loan amount, irrespective of the time of foreclosure.

35 Lakh IDBI Bank Home Loan – Documents Required

Here’s a breakdown of the documents you’ll need to submit:

• Completed Application Form: Ensure you include a recent photograph.
• Identity & Residence Proof: This could be your Aadhar card, PAN card, Voter ID, or Passport, along with utility bills (electricity, water) or rental agreement as residence proof.
• Latest Salary Slips: Submit the last 3 months’ salary slips to verify your income.
• Form 16/ITR: Provide your Income Tax Return (ITR) or Form 16 for the previous financial year to establish income stability.
• Bank Statements: Share the past 6 months’ bank statements to demonstrate your financial health.
• Processing Fee Cheque: Pay the processing fee per the chosen loan scheme (refer to the bank’s website or loan offer for specific charges).

35 Lakh IDBI Bank Home loan – Eligibility Criteria 

Take a look at the breakdown of the key factors IDBI Bank considers when evaluating your home loan application for a ₹35 Lakh loan amount:

Age

• Salaried Individuals: The minimum age is 22, and the maximum age at loan maturity (including any extensions) is 70 or retirement age, whichever is earlier.
• Self-Employed Professionals & Non-Professionals: The minimum age is 25, and the maximum age at loan maturity (including any extensions) is 65 or retirement age, whichever is earlier.

Nationality

You must be an Indian resident or a Non-Resident Indian (NRI) to apply.

Income and Employment Status

• Your income should be sufficient to repay the monthly EMIs comfortably. IDBI Bank considers your salary slips, income tax returns (ITRs), and bank statements to assess your income stability.
• Salaried individuals, self-employed professionals, and non-professionals can all apply.