Eligibility:

Age: At least 21 years of age and are employed or self employed

Co-applicant:

You can include your spouse/parents/brother/sister as co-applicant. We will be glad to include his/her income in enhancing your loan amount (provided the co-applicant meets certain conditions). You can even have your fiancé/fiancée as a co-applicant.

Loan Amount:

You can get a loan from Rs 10,000 up to a maximum of Rs 1 crore. Your loan amount will depend upon your repayment capacity, as mutually determined by you and IDBI Homefinance (subject to a maximum of 90% of the cost of property). In case you wish to construct a house on a plot of land, the loan amount could go up to 100% of the cost of construction.

Period:

The maximum repayment period is 20 years and should not extend beyond your retirement age or 65 years if you are self employed, whichever is earlier

Other Charges – Fees:

• Loan Amount: Up to Rs. 1 crore
• Processing & Admin Fees: 1% of loan amount, payable upfront

Repayment:

Repayment of your loan will be in Equated Monthly Installments (EMIs), comprising of principal and interest calculated annually.

Documents:

The following list of documents will be needed while applying for a home loan :

• Residence and age proof, which can be established from the Ration Card, Birth Certificate, School Leaving Certificate, Election ID, PAN Card, Drivers License or Passport.
• Signature verification from the banker from where the post-dated cheques are issued.
• Bank statements for the last six months. For salaried individuals :
• Latest salary slip
• Form 16 from the employer For self employed individuals :
• Certified copies of Balance Sheet and Profit and Loss account, Income Tax Returns' acknowledgments, Advance Tax challans (for both company/firm and personal account) for the last three years.
• Memorandum/Articles of Association for companies/partnership deeds for firms. And a brief profile of your co