IDBI Bank IDBI Reverse Mortgage Loan

Loan against self-occupied residential property for senior citizens from IDBI Bank

A loan against your self-occupied, residential property to pay off your debt

IDBI Bank Reverse Mortgage Loan

This loan helps senior citizens get access to funds by mortgaging their self-occupied residential property and convert it into liquid cash flows to meet their living expenses. This loan scheme can also be used for the repayment of an existing loan taken for the residential property to be mortgaged or to consolidate your debts.

Features of IDBI Bank Reverse Mortgage Loan for Senior Citizens

Why this Loan?

  • The IDBI Bank Reverse Mortgage Loan is meant for senior citizens who want to generate liquid cash flow to meet their living expenses by pledging their self-occupied, residential property used as a primary permanent residence for this loan
  • The borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans
  • Partial lump sum payments are accepted towards the loan restricted to 50% of the sanctioned loan amount up to a maximum of Rs. 15 lakh

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 2 crore. The actual loan amount is decided by the bank after reviewing the application on the basis of market value of the property, age of the applicant, prevalent interest rate, etc.


  • As of October 2020, the interest rate applicable to this loan is 10.85%. The Rate of Interest (ROI) is reset every 5 years

Period of Loan and Loan Settlement

  • The maximum loan disbursement tenure shall be up to the demise of the last surviving borrower
  • The loan becomes payable six months after the death of the last surviving borrower/spouse or the borrower permanently moves out of the home into an institution, old age home or with relatives


  • The borrower must be an Indian citizen
  • The age of the borrower must be above 60 years
  • Only self-acquired, inherited or gifted self-occupied property (independent house or flat) which is free from encumbrance and used as a permanent primary residence is eligible for this loan

Security Needed

  • The bank accepts mortgage of residential property by way of registered mortgage or equitable mortgage with a memorandum of deposit of title deeds in favour of IDBI Bank

Processing Charges

  • The bank charges up to 0.50% of the loan amount for processing the loan

Documents Needed

  • 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 proof, income tax assessment or IT return documents of the borrower
  • Property related documents

Reference Facts

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