60 Lakh IDBI Bank Home Loan

Craft your ideal living space with the freedom of a ₹60 Lakh home loan from IDBI Bank. They understand the importance of homeownership and offer competitive rates and flexible repayment options to empower your journey. IDBI Bank is a leading financial institution that caters to your aspirations, whether you envision a cosy haven or a sprawling bungalow. This IDBI’s ₹60 Lakh loan allows you to bridge the gap between dreams and reality. Explore the benefits of IDBI Bank's home loan solutions with the help of Urban Money and unlock the door to your dream home today!

60 Lakh Home Loan IDBI Bank – Highlights

Following is a snapshot of the salient features of IDBI Bank Home Loan. Take a look:

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

Here’s the corrected table outlining the estimated EMI breakdown for a ₹60 Lakh home loan with IDBI Bank at an 8.45% interest rate:

60 Lakh IDBI Bank Home Loan – Fees and Charges 

Here’s a breakdown of potential fees associated with an IDBI Bank Home Loan for loans up to ₹60 Lakh.

Processing Fee: Expect the processing fee to range from ₹5,000 to ₹6,000 for salaried and self-employed professionals for loan amounts up to ₹60 Lakh (similar range as the 35 Lakh loan).

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: A penalty may be applicable, potentially around 2% of the outstanding loan amount (similar to the 35 Lakh loan).
  • After 6 months: No foreclosure charge.

60 Lakh IDBI Bank Home Loan – Documents Required

The documents required are as follows:

Salaried Applicants

• Application Form: Fully completed and including a recent photograph.
• Identity & Address Proof: Documents such as Aadhar card, PAN card, Voter ID, or Passport, along with utility bills (electricity, water) or a rental agreement for address proof.
• Salary Slips: The last 3 months’ salary slips to verify income.
• Income Proof: Last financial year’s Income Tax Return (ITR) or Form 16.
• Bank Statements: Last 6 months’ bank statements to show financial stability.
• Processing Fee: Cheque for the processing fee according to the selected loan scheme (refer to the bank’s website for specific charges).

Self-Employed Professionals

• Educational & Business Proof: Copies of educational qualifications and documents proving business operations, such as a registration certificate.
• Income Tax Returns: ITRs for the past 3 years for the individual and the business.
• Financial Statements: Profit and Loss statements and Balance Sheets for the last 3 years.

Self-Employed Non-Professionals

Business Profile: A comprehensive document detailing the business activities, products/services, and target market.

60 Lakh IDBI Bank Home Loan – Eligibility Criteria 

Key Factors for IDBI Bank Home Loan Evaluation: