Is IDBI Home Loan Interest Rate Competitive Compared to Other Lenders?


IDBI Bank is steadily moving ahead in servicing a wide clientele base seeking a home of their choice on the power of home loans. Not only it offers expertise in picking a customized solution for the prospective borrowers but even lends help to those servicing the loans at IDBI Bank for long.

And, if someone approaches to transfer the outstanding loan balance here, the bank would only oblige. But rather important is to know how competitive IDBI Home Loan Interest Rate is in comparison to its peers. The article would talk about what’s in store for you at IDBI and what’s there elsewhere.

How Much Does IDBI Bank Charge on its Home Loan Offers?

IDBI Bank offers home loans at an interest rate of 8.60%-8.90% per annum. IDBI Home Loan Interest Rate can be further divided on the basis of the loan amount being applied. Loans of up to 35 lakhs can be charged at 8.60%-8.65% per annum. On the other hand, loans between 35-75 lakhs and above 75 lakhs can be offered at 8.75%-8.80% and 8.90%, respectively.

SBI Home Loan Interest Rate & How Does it Fare in Competition to IDBI?

One of the largest lenders in India’s banking space, the State Bank of India (SBI) offers loans of up to 30 lakhs at 8.65%-8.95% per annum. Loans between 30-75 lakhs and above 75 lakhs can be serviced at 8.80%-9.10% and 8.90%-9.25% per annum, respectively. As far as interest rates are concerned, IDBI offers at lower rates compared to SBI.

How Does HDFC Home Loan Fare Compared to IDBI Bank?

HDFC Limited, a heavyweight in home finance, gives you the dream home keys at an interest rate of 8.70%-9.45% on an overall basis. While a loan of up to 30 lakhs is getting serviced at 8.70%-9.20% per annum, loan above 30 lakhs comes at 8.75%-9.45% p.a. HDFC is also found to be offering loans at rates more than IDBI.

Does ICICI Give a Competition to IDBI Bank?

ICICI Bank, like its competitors, is a force to be reckoned with in India’s home loan segment. The interest rates offered here equal to 8.85%-9.10% per annum. The bank lends a loan of up to 30 lakhs at 8.85%-8.95% p.a. Loans between 30-75 lakhs and above 75 lakhs are charged at 8.95%-9.05% and 9.00%-9.10%, respectively. IDBI Bank is found to be marginally better than ICICI Bank in terms of home loan interest rates.

How Does Bank of Baroda Fare in the Competition?

Bank of Baroda (BoB) is also flexing its muscle in a home loan segment composed of players waiting for a slight opening to make it big eventually. The bank offers home loans at 8.55%-9.55% per annum as per the risk rating of the applicants. IDBI Bank here also wins the battle of interest rates.

Although IDBI Bank is found to be stronger in terms of competitive rate offerings, the processing delay and other hassles, if it is the case, could pull down the lender in the competition that’s only intensifying with time.


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