IDBI Bank Home Loan for Self Employed

There is an IDBI Bank home loan that is tailored for those who are self-employed. The IDBI Bank home loan for Self-Employed borrowers comes with several advantages, including competitive rates of interest and flexible choices for repayment. Borrowers may also jointly apply with their family members. The amount may be used dynamically for buying or building homes along with construction. There are options for those who have lower income. 

IDBI Bank Home Loan for Self Employed – Highlights 

• Interest rates- 10.90%-12% and 8.35-10% for MCLR-linked interest rates. Plot loans have rates of 12.25%. 
• Loans can be taken up to 90% LTV with maximum durations till 30 years. 
• There are no hidden costs involved. 

IDBI Bank Home Loan for Self-Employed – Fees and Charges 

Some of the key self-employed home loan from IDBI Bank charges/fees include the following: 

• Prepayment- Zero for floating-rate loans and 2% on the balance for fixed-rate loans
• Late EMI- 2% of EMI overdue
• Processing fee- Rs. 5,000-15,000, depending on the loan type and borrower category 
• Technical and Legal Cost- Rs. 2,500
• Switching Interest Rate- 0.25% of balance outstanding amount or Rs. 5,000
• Inspection cost of property- Rs. 750-2,000, depending on the amount 

IDBI Bank Home Loan for Self-Employed – Documents Required

The checklist of the IDBI Bank home loan documents required for self-employed applicants includes the following: 

IDBI Bank Home Loan for Self-Employed – Eligibility Criteria

Applicants should adhere to the DBI Bank home loan eligibility for self-employed borrowers.