Are IDBI Home Loan Interest Rates Attractive Amid Competition?
IDBI Bank has been constantly updating its products and services such as home loans to tap into the emerging needs of the customers. Recognizing the growing need of the Indian population to move into their own home from the rental accommodation, IDBI Bank has customized its home loan with respect to varied interest rates suiting people with different budgets. Even as the interest rate cycle has reversed with rates going up, IDBI Bank is still able to maintain a strong grip on the rate front. Let’s check out the varied IDBI Home Loan Interest Rates and several other details. IDBI Home Loan Interest Rates The interest rates vary according to the loan amount, the credit score of an applicant, besides credit exposure risk and other factors. Plus, the rates are benchmarked to the 6-month Marginal Cost of Lending Rate (MCLR), which currently stands at 8.65%. Loans up to ₹ 35 lakhs can be granted at 8.65%-8.70% per annum. On the other hand, loans above ₹ 35 lakhs and ranging up to...