IDBI Bank Mumbai
Last Updated : Sept. 5, 2018, 3:11 p.m.
About IDBI Bank
IDBI Bank is one of the newly formed banks which was introduced in the banking sector in the year 2004 and it was a former development financing institution. It was merged with United Western Bank in the year 2006 and the name of the bank was changed to IDBI Bank Ltd. in the year 2008. The bank was previously funding the projects to improve the industrial set up and the infrastructure of the country. The parent company was set up in the year 1964 to develop the backward areas by promoting the corporates and other to set up the industry and develop the area. The establishment of the company in the banking sector was done and the bank has the gamut of banking facilities and the services to help the customer in offering them the best and apt financial solution.
The bank wants to include the best and the latest technology so that the banking experience of the customer can be hassle free and enjoyable. The bank along with the cutting edge technology and it’s dynamic, as well as the professional work force, tries to reach the larger section of the society and serve them by offering the best financial advice and solution. The bank aims to achieve the global expansion and set the example in the corporate governance by maintaining its work in the ethical, responsible and transparent manner. The bank wants to improve and enhance the individual lives along with the continuation in providing the finances to the corporate and other projects.
Address of IDBI Bank Branches in Mumbai
| Branch Name | Address | IFSC Code | MICR | Contact Details |
|---|---|---|---|---|
| Nariman Point | Mittal Tower, C Wing, Gr.floor, Nariman Point, | IBKL0000004 | 400259002 | 022-2824057, 65 |
| Khar | Dharmi Niwas , Plot N0.77 R.K.Mission Marg , Khar | IBKL0000014 | 400259003 | 022-6001327-29 |
| Chembur | Shop 12 - 16, Sunny Estate Ii, Sion Trombay Road, Chembur, | IBKL0000018 | 400259005 | 022-2529 1112/1086 |
| Warden Road | Tirupati Apartments Bhulabhai Desai Road | IBKL0000019 | 400259004 | 022-56578354-55 |
| Prabhadevi | Kohinoor Bldg , Veer Savarkar Marg , Prabhadevi | IBKL0000026 | 400259007 | 022-4222863/3093 |
| Ghatkopar | Shop No.2 , Gr. Floor , Vallabh Vihar Mg.road , Ghatkopar East | IBKL0000033 | 400259008 | 022-5023801/02 |
| Andheri | Marigold House, Plot No.a - 34, Cross Road No.2, Marol, Midc, Andheri(E) | IBKL0000039 | 400259009 | 022-8368218/8239 |
| Taloja | Indal Compound Plot No 2 , Midc, Taloja | IBKL0000047 | 400259010 | 022-7401582/83 |
| Borivali | Kaustubh Park, Next To Bhagwati Hospital, Mandapeshwar Road, Borivali (W) | IBKL0000059 | 400259011 | 8946653/85 |
| Retail Assets | Tribhuvan Building, Vijay Vallabh Chowk Pydhonie, 1/3, Kalbadevi Road | IBKL0000096 | 400259018 | 66977800 |
| Kalbadevi | Pai Restaurant, Corner Of College Rd & Samadevi Rd | IBKL0000100 | 400259012 | 022-23451358 / 23472969 / 32511711 |
| Vashi | Haldia Dock Complex Chiranjibpur | IBKL0000123 | 400259015 | 022-27800254/ 55/ 56. |
| Malad | IDBI Towers, Ground Floor, WTC Complex , Cuffe Parade | IBKL0000125 | 400259016 | 56552469/22163252 |
| Main Branch - Mumbai | Indian Red Cross Society Building 1, Red Cross Road, Post Box No.231 | IBKL0000126 | 400259017 | 022-56553355 |
| Versova | New Cosmos Chs, Main Sai Rd Juhu Versova | IBKL0000162 | 400259019 | 022-26256741/42/43. |
| Nana Chowk | Ground Floor, Kailash Darshan Building, Shankar Sheth Road, Kennedy Bridge, Nana Chowk, Mumbai | IBKL0000166 | 400259069 | 022-23816075-76-77 |
| Andheri (west) | 1ST Floor, Gopi Chambers, New Link Road, Opposite Citimall, Andheri (west), Mumbai - 400053 . | IBKL0000174 | 400259051 | 022-26731552/53/54/55 |
| Vile Parle (W) | 185, A, Bhavana Apts, S.V. Road, Opp GTC Factory, Vile Parle ( West ) Mumbai - 400056 | IBKL0000181 | 400259028 | 022-26701320/21/22 |
| Belapur | IDBI Building, Plot No 39/40/41, Sector 11, Cbd - Belapur, Navi - Mumbai - 400614 , Maharashtra | IBKL0000183 | 400259023 | 022-56119631 / 27576763 |
Products Offered by the IDBI Bank in Mumbai
The city of Mumbai is always on the go and it never stops. Being one of the busiest city in India it is the commercial capital of the country as well. The city always needs the funds for the financial stability. The financial kit provided by IDBI Bank has catered the requirements of the people and is transforming the dreams into reality. It has a wide range of the products that help the customer to fulfill their needs. The home loan, personal loan, fixed deposit, education loan etc are the name of the few products offered by the bank.
Basic details about IDBI Bank products
| Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Home Loan | The age of the applicant should be between 18 - 65 years Salaried individuals with minimum 3 years experience Business concerns, professionals and self-employed individuals working in the line of business/ profession for at least 3 years | For salaried Individuals - Up to 4 years gross salary Self-Employed Individuals & Business person- Up to 4 years gross annual income For repairs & renovations - Up to ₹ 15 lacs | 8.80% - 12.25% | 0.50% of the loan amount | Up to 30 years or until attaining age of 70 years |
| Personal Loan | The age of the applicant should be between 21 - 65 years. Permanent employees of reputed PSUs and Joint Stock Companies Confirmed Central / State Government officials Lecturers / Asst. Professors / Professors of Colleges / Research Institutions and Universities The salary account of the employee should be maintained with the branch The minimum net salary should not be less than ₹ 20,000 per month or minimum net annual income of ₹1,80,000 per annum for the salaried Individual For the self- employed the minimum annual average balance should be ₹ 25,000 per month and minimum annual business income should be ₹ 2,40,000 per annum for last 2 years. | Minimum of ₹50,000 Up to maximum of ₹ 10 lakh | 10.50% - 13.25% | 2% of the loan amount | Up to 5 years |
| Vehicle Loan | Eligible Segments - Individuals, professionals, reputed firms and companies The age of the applicant should be between 18- 60 years. Minimum annual gross salary of the individuals should ₹ 1.80 lacs Should have minimum work experience of 2 years. | New Car - No maximum limit Used Car - 75% of the agreed value | 7.50% Onwards | Nil | For new vehicles - 7 years |
| Loan Against Property | Existing customers having satisfactory dealing with the bank New customers with healthy credit history | Up to 50% of the property value or up to ₹ 10 crores and more than ₹ 10 cr depends on individual cases | 10.55% - 14.90% p.a. | 1% of the loan amount | Up to 15 years |
| Education Loan | The student should be the resident of India. Should have secured the admission through entrance exam/ merit based selection. The student should have the guarantor/ collateral. | For India:up to₹20 lakh For abroad: ₹ 30 lakh or 100% of the total cost of programme. | 17.70%- 18.45% p.a. | 1% of the loan amount | Moratorium: course period+ 1 year 0r 6 months after getting the job. Up to 15 years after the completion of moratorium period. |
| Fixed Deposit | Individual Joint (max. 4 people) A guardian on behalf of a minor HUF Partnership Firm A company Association or any other Institution | Minimum - ₹ 1,000 Maximum - No predetermined limit | 2.90% - 5.90% | 15 days - 10 years 7 days - 14 days only on single deposit of ₹ 5 lakhs & above |
Documents Required
The documents required by IDBI Bank Mumbai for the different products are mentioned in the table below:
| Products | Documents Required | |
|---|---|---|
| Home Loan | Loan Application with 2 passport size photos of applicant / guarantor Identity proof- Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Residence proof- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Processing fee cheque Detailed cost estimate/valuation report from Bank's Panel Chartered Engineer/Architect Allotment letter of Co-operative Housing Society/ Apartment Owners' Association/Housing Board/NOC from the Society/Association/Builders/Housing Board Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary Salary Certificate and Form No.16 (in case of salaried persons) IT Returns filed for the past three years (in case of non-salaried persons) A brief note on the nature of business, year of establishment, type of organization, etc., (in case of self-employed) Balance Sheet and P&L Account for the past three years (in case of self-employed) | |
| Personal Loan | Loan Application with 2 copies of passport size photographs Proof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years. Co-obligation Pronote /Pro-note Covering Letter | |
| Vehicle Loan | Proof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Proof of Income: Latest 2 months salary slip with form 16 Audited balance sheet, and the latest 2 years IT returns of the company/ Latest ITR, bank statement reflecting salary credits for last 4 months. Bank Statement: Income statement, balance sheet and ITR for last 2 years ( for self- employed), Last 6 months bank statement (for salaried individual) Age Proof: School leaving certificate/ Passport/ Driving Licence/ Election ID Card/ Birth Certificate/ LIC Policy/ PAN Card | |
| Loan Against Property | Duly filled Loan Application with passport size photographs - 2 copies each Identity proof- Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Residence proof- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Income proof of the applicant and guarantor Income Tax Assessment Order / IT Returns Last 3 years income tax returns and complete business profile. Bank Statement- Last 6 months bank statement, Last 3 years Profit/ loss and Balance sheet ( for self- employed professionals) Processing Fee cheque Property related documents: All the title related documents along with approved sanctions/ building plans. | |
| Educational Loan | Duly filled application with recent photographs. Proof of residence – Passport/ Utility bill/ Allotment letter. Date of Birth proof Certificate of Domicile Fee particulars from school/ college Scholarship proof Study Certificate | |
| Fixed Deposit | Application form Copy of PAN Card / Form 60 or 61 (in case the customer does not have PAN Card) 2 Photographs of Depositor/s Identity Proof and Address Proof Any other related documents as applicable to proprietorship concern, Partnership Firm, Company, HUF etc. |