Banks Offering Home Loan
IDBI Bank-Home Loan

Features

  • Legal and technical assistance
  • Reassessment and adjustment of applicant's loan eligibility in case of change of income and residence status
  • Special insurance cover on the home loan for a small premium

Eligibility

  • Salaried individuals
  • Self-employed professionals/businessmen
  • NRI's

Loan Amount

Loan can be applied for a maximum of 90% of the property value subject to credit discretion.

Margin

10-15% as down payment.

Processing Fee

1 per cent of the home loan amount.

Pre-payment Fee

· If the loan is foreclosed before 6 months, 2 per cent of the loan outstanding will be charged as penalty

· After 6 months, no pre-payment charges if prepaid from own, verifiable sources

· Prepayment fee of 2 per cent of the loan outstanding if loan is transferred to another bank/financial institution.

Repayment Period

Tenor of a home loan can be up to 20 years for a resident individual and 10 years for NRIs, subject to maximum age of 60 years on loan maturity date.

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