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IDBI Bank Loan Against Property

About IDBI Bank Loan Against Property

Being an Indian government-owned financial service company, IDBI Bank was formerly known as Industrial Development Bank of India, headquartered in Mumbai. When it comes to offering a wide range of products, with quick processing and minimal documentation, the bank is here with one of its best product i.e. loan against property. Yes, IDBI Bank Loan Against Property is a product to watch out, if you need funds to fulfill your various needs. You can easily avail loan from the bank and can fulfill every wish of yours in best possible way. To grab more information about IDBI loan against property, this article is for you.

IDBI Bank Loan Against Property Details

Interest Rates10.20% - 10.70%
Loan AmountUp to 10 Crores
TenureUp to 15 Years
Processing FeeUp to 1% of the loan amount
Prepayment & Foreclosure ChargesNil for floating rate loans

Eligibility Criteria for IDBI Bank Loan Against Property

  • Age at least 22 and less than 60
  • Salaried / Self – Employed with regular income, earn more than the minimum income required

How To Apply

When it comes to applying for LAP in IDBI Bank, you can either visit the branch near you or you can apply for the same online. All you need to do is just visit the site online and by filling all your details you can apply for the same without any hassle.

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Documentation Required for IDBI Bank Loan Against Property

Salaried Self Employed ProfessionalsSelf Employed Non Professionals
Application form with photographApplication form with photographApplication form with photograph
Identity and Residence ProofIdentity and Residence ProofIdentity and Residence Proof
Latest Salary-slip for last 3 monthsEducation Qualification Certificates and Proof of business existenceProof of business existence
Form 16/ITRLast 3 years Income Tax returnsLast 3 years Income Tax returns
Last 6 months bank statementLast 3 years Profit /Loss and Balance SheetLast 3 years Profit /Loss and Balance Sheet
Processing fee chequeLast 6 months bank statementsLast 6 months bank statements
Property Related Documents
Processing fee chequeProcessing fee cheque
NANABusiness profile
All Title related Documents along with approved sanction/building plan

Features & Benefits of IDBI Bank Loan Against Property

  • Maximum Loan amount
  • Convenient loan repayment options
  • Both residential and commercial property accepted as collateral
  • Minimal documentation and faster approvals
  • Attractive interest rates
  • Fixed rate for first three years available

Primary: First Charge on the mortgaged property by way of equitable mortgage against which IDBI Bank has advanced the loan.

Collateral: Liquid Collaterals as required by The Bank selectively in the form of Pledge/Hypothecation and Assignment depending upon individual cases.

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Personal Loan Interest Rates June 2019
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank11.50% - 18.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates June 2019
State Bank of India/SBI8.55% - 9.25%
HDFC8.60% - 9.60%
LIC Housing8.60% - 9.15%
PNB Housing Finance9.05% - 12.00%
Piramal Capital & Housing Finance9.00% - 9.10%
Tata Capital9.20% - 9.35%
ICICI Bank9.05% - 9.25%
Bank of Baroda8.70% - 9.70%
Axis Bank8.85% - 9.10%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%