70 Lakh IDBI Bank Home Loan

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Picture yourself in the home you've always dreamed of, a place that truly represents your ambitions and desires. With IDBI Bank's ₹70 Lakh Home Loan, this dream is now within reach. Understanding the importance of owning a home, IDBI Bank provides customised home loan options to support you on this exciting journey. IDBI Bank offers attractive interest rates and flexible repayment plans on home loans up to ₹70 Lakh. This makes it a perfect choice for first-time homebuyers and those looking to upgrade their living space. Whether your ideal home is a cosy apartment or a spacious bungalow, IDBI Bank's ₹70 Lakh Home Loan can help make it a reality.

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Table of Content

1. 70 Lakh Home Loan IDBI Bank Highlights

2. 70 Lakh Home Hoan EMI for 5 25 Years IDBI Bank

3. 70 Lakh IDBI Bank home loan Fees and Charges

4. 70 Lakh IDBI Bank Home Loan Documents Required

5. 70 Lakh IDBI Bank Home Loan Eligibility Criteria

Written By

Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything 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.

70 Lakh Home Loan IDBI Bank – Highlights

Here are the key features of IDBI Bank’s ₹70 Lakh Home Loan:

Feature	Details
Interest Rate	Starting from 8.45% per annum
Loan Amount	Up to 90% of the property value
Tenure	Maximum of 30 years
Processing Fees	Rs 5,000 to Rs 16,000

70 Lakh Home Hoan EMI for 5 – 25 Years IDBI Bank

Here’s the corrected table outlining the estimated EMI breakdown for a ₹70 Lakh home loan with IDBI Bank at an 8.45% interest rate:

Tenure (Years)	Estimated EMI (₹)
5	1,43,447.09
10	86,602.90
15	68,726.76
20	60,526.29
25	56,130.23

70 Lakh IDBI Bank home loan – Fees and Charges

Here’s a breakdown of the key charges for a ₹70 Lakh IDBI Bank Home Loan:

Charge Type	Details
Processing Fee	Plain Vanilla & Rural/Semi-urban Housing Loan: ₹5,000 for salaried and self-employed professionals.
Processing Fee	IDBI Neev & Neev 2.0: ₹6,000 for salaried and self-employed professionals.
Other Charges	Inward Balance Transfer: No processing fee for Plain Vanilla. No charge for IDBI Neev & Neev 2.0.
Foreclosure Charges	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.

70 Lakh IDBI Bank Home Loan – Documents Required

The documents required are as follows:

Category	Documents Required
Salaried Applicants	– Completed Application Form with recent photograph – Identity & Residence Proof (Aadhar, PAN, Voter ID, Passport + utility bills/rental agreement) – Latest 3 months’ salary slips – Form 16 or ITR for the previous financial year – Past 6 months’ bank statements – Processing fee cheque
Self-Employed Professionals	– Completed Application Form with recent photograph – Identity & Residence Proof – Education qualifications and business proof – Last 3 years’ ITRs (personal and business) – Profit/Loss statements and balance sheets for the last 3 years – Past 6 months’ bank statements (personal and business) – Processing fee cheque
Self-Employed Non-Professionals	– Completed Application Form with recent photograph – Identity & Residence Proof – Business existence proof – Business Profile – Last 3 years’ ITRs – Profit/Loss statements and balance sheets for the last 3 years – Past 6 months’ bank statements (personal and business) – Processing fee cheque

70 Lakh IDBI Bank Home Loan – Eligibility Criteria

The following table outlines the essential factors considered by IDBI Bank when evaluating a home loan application:

Factor	Details
Age	Salaried Individuals: 22-70 years (or retirement age, whichever is earlier) Self-Employed: 25-65 years (or retirement age, whichever is earlier)
Nationality	An Indian resident or a Non-Resident Indian can apply
Income and Employment	Income should be sufficient for EMI repayment. Assessed using salary slips, ITRs, and bank statements. Applicable for salaried individuals, self-employed professionals, and non-professionals

Frequently Asked Questions (FAQs)

What is the EMI for a 70 Lakh Home Loan for 20 years in IDBI Bank?

You can use IDBI Home Loan EMI calculator to get the exact amount you will pay for a 70 lakh home loan.

Who is eligible for a 70 Lakh Home loan in IDBI Bank?

Indian residents and NRIs aged 22-70 (salaried) or 25-65 (self-employed) with sufficient income and a good credit score are eligible. Both salaried and self-employed individuals can apply.

What is the monthly interest rate of a 70 Lakh home loan in IDBI Bank?

The monthly interest rate for a ₹70 Lakh home loan at IDBI Bank is approximately 0.7042%, based on an annual rate of 8.45%.

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