IDBI Bank Loan Against Property with Interest Saver

Loan Against Property from IDBI Bank to meet your financial needs while saving interest cost

A special mortgage loan scheme to pare down your debts

IDBI Bank Loan Against Property with Interest Saver

This loan helps borrowers get access to funds by pledging property to meet their urgent financial needs. In addition to being used to meet personal financial expenses such as a wedding, foreign travel, medical treatment, higher education and so on, this loan can also be used as a consolidation loan to pay off high-interest debts. This loan scheme offers savings on interest cost as well. The borrower gets a Flexi Current Account where they can deposit savings, annual bonus, etc. which can be used to pay off the loan and hence reduce the interest burden.

Features of IDBI Loan Against Property (Interest Saver)

Why this Loan?

  • The IDBI Bank Loan Against Property (Interest Saver) is meant for borrowers who need assistance to meet financial needs other than for capital market or speculative purposes
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan to pay off their high-interest credit card debts and loans
  • The biggest benefit of availing this mortgage loan is that it offers an opportunity to save interest cost and repay the loan faster

Loan Amount

  • The maximum loan amount offered under this loan scheme is up to Rs. 10 crore. The bank may offer a higher loan amount after reviewing the application. In general, existing IDBI Bank customers get a higher loan amount than new customers
  • The maximum funding offered by the bank is up 65% of the market value of the self-occupied residential property, 55% of the market value of the leased out residential property and 50% of the market value of the commercial/industrial property


  • As of October 2020, the applicable interest rate to this loan ranges from 7.65% to 9.15%


  • This loan must be repaid within 15 years

Security Needed

  • The bank asks for first charge of equitable mortgage of residential property or commercial property pledged for this loan
  • The bank may ask for liquid collaterals in certain cases

Margin Money (Borrowers Contribution to Total Cost)

  • The bank charges up to 35% for self-occupied residential property and 45% for leased out residential propertyand 50% for commercial/industrial property

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a 20% margin means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • The bank charges 1% of the loan amount up to Rs. 10,000 for processing the loan

Documents Needed for Individuals (Salaried and Self-employed)

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan / Form 26AS / TDS Certificate, IT Assessment, etc.
  • Property related documents

Reference Facts

  • IDBI Bank Website:
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 209 4324, 1800 22 1070