Home, sweet home, built out of your dreaadvt. A place where you return after a hard day's work and relax, a place where you share precious moments with your family. A place that gives you a sense of belonging. IDBI Bank helps you realise your long cherished dream of owning your home through hassle free and customer friendly home loans.
Presenting IDBI Bank's ultra-flexible home loan you have been looking for. We realise what owning your home means to you and your family.
You can avail of the Home Loans for constructing a home, purchasing a ready built house / flat, residential plot and even for re-financing existing loans you may have availed from other banks or housing finance companies. Click here to apply.
Advantages of IDBI Bank Ultra Flexible Home Loans
Flexibility of choosing between Floating or Fixed interest rate
Attractive rate of interest
EMI on daily reducing balance
Personalised doorstep service
Legal and technical assistance
Balance transfer facility
Reassessment and adjustment of applicant's loan eligibility in case of change of income and residence status
Tenor of a home loan can be up to 25 years for a resident individual whereas for NRIs the maximum tenure is 15 years subject to maximum age of 60 years at maturity.
Loan can be applied for a maximum of 90% of the property value subject to credit discretion.
Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of the title deeds or such collateral security as may be necessary.
Title to the property should be clear and free from encumbrance, i.e., without any pending legal litigation adversely affecting the ownership of the property.
Other parameters considered include an account of your age, income, number of dependents, financial stability and co-applicant's income.
As per the current finance bill you can get:
A maximum deduction of Rs. 1,50,000 on your income towards interest paid on your home loans u/s 24
A maximum deduction of Rs. 1,00,000 on the principal repaid u/s 80 CCE
The above benefits are available subject to you fulfilling certain conditions, for which you should refer the IT Act 1961
Disclaimer: Legal Information