IDBI Bank Loan Against Property - Documents Required for IDBI Bank Loan Against Property

IDBI offers loan against property to borrowers who require money to meet business and personal needs, holding their existing property (residential or commercial) as collateral. Availing a loan from IDBI has some fantastic benefits, some of which are listed below:

• Pay low EMIs for a tenure of 15 years
• Overdraft facility is available
• Loan amounts of up to Rs. 10 crores and above are made available
• Features of IDBI Bank Loan Against Property
• The borrower can use this fund for the expansion of his/her business.
• Education and marriage expenses can be quickly funded through this loan.
• If the borrower wishes to buy a new home, he/she can apply for the loan.
• People can borrow funds for the improvement or extension of the existing property as well.
• The burden of medical treatment expenses can be dealt with.
• Any other personal needs can also be fulfilled with the help of a loan against property.
  

Loan amount

• Up to Rs.10 crore loan and above can be borrowed depending upon the merit of the proposal.
• Loan tenure
• Maximum tenure of up to 15 years.

IDBI Bank Loan Against Property Schemes

IDBI Loan Against Property (Overdraft Facility)

This loan has been customized to cater to the needs of the business community. Businesspeople can avail this loan for the purchasing or stocking of raw materials, payment of salary, wages, etc. and also for bridging the gap between the supply of goods and payments after that.

IDBI Loan Against Rent Receivables

This loan has been designed to address the financial requirements of people having self-owned property given on rent and to enable them in getting liquidity against the expected future rentals of the property.

IDBI Bank Loan Against Property with Interest Saver (LAPIS)

This loan provides a facility for linking the loan account of the borrower with the Flexi Current Account. The interest liability of your loan reduces to the extent of surplus funds available in the current operative account. You will be allowed to deduct cash from this operative current account or deposit in it as and when required. Interest on your loans will be calculated by subtracting the balance in the current account (based on EOD) from the outstanding loan amount.

Maximum funding provided in the loan:

• Up to 65% of the market value of the property (residential and self-occupied)
• Up to 55% of the market value of the property (residential property leased out)
• Up to 50% of the market value of the property (commercial or industrial)
  

IDBI Bank Reverse Mortgage Loan

• This loan has been designed to supplement the present income/pension of senior citizens for covering expenses such as medical treatment, upgradation or renovation of the existing property, business purposes, etc.
  

Loan amount:

• Up to Rs 2 crore (subject to the market value of the residential property as calculated by the bank, based on the borrower's age, and according to the interest rate)
  

IDBI Bank Commercial Property Purchase

• This loan has been introduced to facilitate the purchase of readily built/re-sold building units for commercial purposes.
  

Loan amount:

• Up to Rs 5 crore and above can be provided, depending upon the individual case.
  

Maximum funding provided

• Up to 55% of the market value or 65% of the registered value (whichever is lower, inclusive of stamp duty and registration charges).

IDBI Bank Loan Against Property Top-Up

IDBI Bank also provides mortgage loan balance transfer from another bank based on the eligibility criteria of IDBI Bank.