IDBI Bank Limited is one of the largest commercial banks in India. The bank has been playing a role of nation-building for over a period of 40 years, initially as Development Financial Institution (DFI) from 1 July 1964 to 30 September 2004 in the financial sector and later as a full service commercial Bank from 1 October 2004 on wards. IDBI was converted into a banking organization on 1 October 2004 which is today known as Industrial Development Bank of India Limited(IDBI). IDBI Bank broadened its scope of financial services by offering a spectrum of services apart from project financing across various regions in the country with a revived and renewed enterprising spirit and development of a dynamic capital market. On 2 April, 2005 IDBI bank along with its parent organization IDBI Ltd. merged with United Western Bank and IDBI bank emerged with a new approach with a majority Government shareholding today touching many lives through a large spectrum of corporate, retail, MSME and agricultural products and services.
The bank is one of the young and dynamic bank that has an aggregate Balance sheet of Rs. 3,56,031 crores and total business of Rs. 4,68213 crores at the financial closure of the year 2015 along with the net profit after tax of Rs. 837 crores.
Head quartered in Mumbai, IDBI Bank Ltd. operates through its widespread branches and ATM’s across the country. The bank thrives upon providing tailor made banking and financial solutions to many across the country. The bank is not only set upon to serve within the limits of the country but has also set up its office in Dubai with future plans to come up more offices abroad to attract international clients and opportunities.
The new generation bank aspires to reach out to many through its attractive financial products and services. The bank provides various types of loans which include
• The bank provides an extensive range of home loan products such as Home Loan, Home Loan Interest Saver, Home Loan Top up, Home Loan takeover facility, Home Improvement Loan, Home Extension Loan, Home Loan Booking Finance, Loan on second Charge/Pari-passu charge and also Home Loan-Refinance Facility.
• The bank not only provides money but also assists you in selecting a property and providing due diligence of the property for its acquisition.
• The bank also provides an in-principle approval of loan before selection of property.
• Home loans are available for salaried Including NRIs, Self Employed Professional and Self Employed Non Professional (Business Category).
• There are already approved home projects for the ease of customers.
• There is Flexible Loan Repayment facility for convenience of the customers such as Flexible Loan Installment Plan, Step up & Step down repayment facility, Tranche Based EMI.
• These loans can be easily applied for with an ease of a online application facility for your home anywhere in the country.
• The bank helps its customers with a maximum funding for the vehicle the customer wants to purchase.
• The bank aims at providing loans for a wide range of vehicles.
• The loans are available at an attractive rate of interests along with easy repayment of loan that can be done by paying easy EMI's on a reducing balance for tenure of 7 years.
• The bank has existing tie ups with automobile dealers and manufacturers to provide its customers the best deal in the market.
• Processing fee is waivered in full during festive offers.
• Foreclosure of loan is permissible without a penalty after 6 months of purchase.
• The bank provides education loan services to deserving candidates for them to pursue their dreams of studies both in India and abroad. Education loans are available for candidates who want to take up both vocational as well as non vocational courses with easy repayment options.
• IDBI bank offers schemes and products for salaried, self employed as well as pensioners from age between 22 to 75 years of age.
• Depending on your eligibility personal loans are available up to Rs. 10,00,000/- at an attractive rate of interest with an easy repayment option.
• Prepayment is allowed after 6 months of loan tenure. The part prepayment facility is also available however in case of part prepayment no personal loan is granted for a period of 12 months minimum.
Loan Against Property and its variants
• Loan against property is available for purposes such as business expansion, education/marriage expenses, purchase of house, improvement or extension of existing property, medical treatment or any other personal need.
• Depending on the eligibility and the individual a loan amount up to Rs. 10 crores, can be provided for a period of 15 years.
• A processing fee Up to 1% of the loan amount plus service tax as applicable is charged for such loans.
Loan Against Securities
Loan Against Property can be availed against, Equity Shares, Mutual Funds units, RBI Bonds, Life Insurance Policies, National Saving Certificate (NSC), Kisan Vikas Patra (KVP)
• No EMI
• No Post dated cheque
• No fore closure charges
• Interest is charged only on the amount that has been utilized
• Easy and quick processing
The Vision of the bank is “TO BE THE MOST PREFERRED AND TRUSTED BANK ENHANCING VALUE FOR ALL STAKEHOLDERS” and the bank looks forward towards writing its story of continuous success through its hard work and commitment towards its stakeholders and emerging as a “Bank of Customers Choice”.