40 Lakh IDBI Bank Home Loan

IDBI Bank's 40 lakhs home loan is a convenient and ideal solution for people looking forward to booking their dream home but facing financial obstacles. With genuine and attractive interest rates starting at just 8.45% per annum, the home aspirant can choose a longer loan tenure of up to 30 years and pay budget-friendly EMIs. IDBI Bank is known for its transparency throughout the process and quick disbursement of funds so that the applicant can be informed about each step and expect instant funds in his bank account. Scroll further to learn more about the benefits of the IDBI Bank home loan and if you are eligible for the same!

40 Lakhs Home Loan IDBI Bank – Highlights

If you wish to learn more about this home loan, check its important highlights:

40 Lakhs IDBI Bank Home Loan EMI For 5 Years

Considering a minimum applicable interest rate of 8.45% per annum on the Rs 40 lakhs IDBI Bank home loan, the following will be the applicable EMI:

40 Lakhs IDBI Bank Home Loan EMI For 10 Years

The following will be the applicable EMI on your 40 lakhs IDBI Bank home loan over a tenure of 10 years:

40 Lakhs IDBI Bank Home Loan EMI For 15 Years

The applicable EMI for your 40 lakhs IDBI Bank home loan over a 15-year tenure will be:

40 Lakhs IDBI Bank Home Loan EMI For 20 Years

Check the EMI on the 40 lakhs IDBI Bank home loan over a tenure of 20 years:

40 Lakhs IDBI Bank Home Loan EMI For 25 Years

If the loan repayment tenure is 25 years, the following will be your applicable EMI on the 40 lakhs IDBI Bank home loan:

40 Lakhs IDBI Bank Home Loan – Fees & Charges

Following are going to be the fees and charges if you wish to obtain a 40 lakhs IDBI Bank home loan:

• Processing Fee – Between Rs 5,000 to Rs 16,000
• No Charge for Inward Balance Transfers.

40 Lakhs IDBI Bank Home Loan – Documents Required

IDBI Bank might ask you for the following documents if you choose to avail of their 40 lakhs home loan:

• Ensure your application form includes your photograph.
• Provide a government-issued ID as identity proof.
• Submit electricity or telephone bills as address proof.
• Present bank statements from recent months or IT tax return documents to verify your income.

40 Lakhs IDBI Bank Home Loan – Eligibility Criteria

Before applying for a 50 lakh IDBI Bank home loan, ensure you meet the following eligibility criteria:

For salaried individuals, including NRIs and PIOs, the minimum age to apply is 22, with a maximum age of 70 or retirement age at loan maturity. For self-employed professionals and non-professionals, the minimum age to apply is 25, with a maximum age of 65 or retirement age at loan maturity.