IDBI Loan against Property

I want to apply for IDBI Loan against my Residential Property but before it want to collect information about terms and condition of it can you give me information about terms and condition of IDBI Loan against Property? What is the interest rate charged by IDBI bank for Loan against property?

Here I am giving you details about IDBI Bank Loan against Property. IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India.

IDBI Bank Loan against Property
IDBI Bank brings Loan against property to enable you to unlock the power of your property. You can mortgage your residential, commercial or Industrial property to get a loan & meet all your financial requirements.

Features:

Loan Purpose:
• Business Expansion
• Education/Marriage expenses
• Purchase of house
• Improvement/Extension of existing Property
• Medical Treatment
• Any other personal Need.

Loan Amount:
Up to Rs.10cr, Loan above Rs.10cr can be provided depending upon individual cases.

Loan Tenure:
Up to 15 Years.

Processing Fees:
Up to 1% of the loan amount plus service tax as applicable.

Maximum Funding:
• Up to 65% of the market value of the property (Residential Self Occupied)
• Up to 55% of the market value of the property (Residential leased out)
• Up to 50% of the market value of the property (Commercial/Industrial)
• More funding to existing Bank’s customer.

Salaried Customers:
Application form with photograph
Identity and Residence Proof
Latest Salary-slip for last 3 months
Form 16/ITR
Last 6 months bank statement
Processing fee cheque

Self Employed Professionals:
Application form with photograph
Identity and Residence Proof
Education Qualification Certificates and Proof of business existence
Last 3 years Income Tax returns
Last 3 years Profit /Loss and Balance Sheet
Last 6 months bank statements
Processing fee cheque

Self Employed Non Professionals:
Application form with photograph
Identity and Residence Proof
Proof of business existence
Business profile
Last 3 years Income Tax returns
Last 3 years Profit /Loss and Balance sheet statement.
Last 6 months bank statements
Processing fee cheque

Property Related Documents:
All Title related Documents along with approved sanction/building plan.


Security:

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.

IBDI Loan against Property Details:

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I am customer of IDBI bank and want to take IDBI Loan against Property searching for details. Will you tell IDBI Loan against Property details along with Loan Amount and Processing Fees?

IDBI Bank Mortgage Loan (Loan Against Property)
IDBI Bank brings to you Loan Against Property facility to enable you to unlock the power of your property.

You can mortgage your residential or commercial property to get a loan & meet all your financial requirements

Loan details:

Features

Loan Purpose:-
• Business Expansion
• Education/Marriage expenses
• Purchase of house
• Improvement/Extension of existing Property
• Medical Treatment
• Any other personal Need.


Loan Amount:
Up to Rs.10 Cr. Loan above Rs.10 Cr can be provided depending upon the merit of the proposal.

Loan Tenure:
Up to 15 Years.

Processing Fees:
Please refer to Schedule Of Charges of Retail Assets.

Maximum Funding*:
If the applicant is not existing Home Loan /Loan Against Property customer

Nature of the property LTV
Residential 70%
Non -residential 60%

If the applicant is an existing Home Loan /Loan Against Property customer

Nature of the property LTV
Residential 75%
Non -residential 65%

Contact:

Registered Office:
IDBI Bank Ltd.
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.

Swift: IBKLINBB

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Answered By StudyChaCha Member