Documentation» IDBI BANK

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.of a house.

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.