IDBI or also known as Industrial Development Bank of India is a bank that can offer diverse types of loans that can help people who have an active account with IDBI bank. This bank is popular for people who want to apply for a home loan or education loan.
Why Apply for an IDBI Loans?
The bank is implementing easier requirements and documentations to be able for an applicant to qualify for one of their loans. This bank attracts a lot of people to open a new account to them in order to acquire a home loan or an education loan.
If you are applying for an IDBI bank loan, it is imperative for you to acquire the right information regarding the loans that they are offering. This is to avoid future problem right after acquiring the loan.
IDBI loan is offering low interest rate for their loans compare to other banks in India. Both public and private sector will benefit from these loans. Lately, the public sector has reduced loan rates by 100 points for all new borrowers.
IDBI bank also reduced the rates for their home loan for up to Rs 30 lakhs by 100 basis points. With this kind of reduced low rate, the borrower will save a lot of money because they do not have to pay huge amount of money for their monthly amortization due to low interest rate.
Advantages of IDBI Home Loan
• You can acquire the maximum amount of your loan that will depend upon your income level.
• You will get the flexibility to decide whether you will gain for a fixed rate or a floating rate. If you choose to get the floating rate, you will be at risk when there is a high in interest rate due to various of reasons. This is the reason why it is more practical for loan borrowers to choose the fixed rate IDBI Bank loan.
• You can acquire lesser interest rate for any loan that you want compared to other banks in India.
IDBI Education Loan
IDBI bank is also the best when it comes to education loan for your children. There are overwhelming numbers of bank all over India that can offer education loan for students. The bank is very much willing to give financial aid to deserving students. Under the education loan, there are several loans that you can acquire such as Quantum loan, Express Covered Student Loan and Repayment Educations loan.
You can visit IDBI bank’s website to learn more about applying for a loan.
IDBI Bank loan is providing loans that can fulfill dream of many people in India. If you need a home loan and an education loan, then you can apply for both loans for as long as you will be qualified.