OREANDA-NEWS. October 12, 2011. IDBI Bank reviewed its home loan rates in view of market scenario, competition offerings and providing some benefits during festival season. All new borrowers would be given an option of either fully floating rate or a combination of fixed and floating rates. The processing fee for loan amounts upto Rs 25 lakh has been waived. The Bank has also reduced the existing floating Home Loan rates by 25 - 50 bps. The composite Fixed Floating Home Loan Scheme and revised Floating Rates Home Loan Scheme are as under:

(BBR - Bank's Base Rate)

Tenor

Fixed for 1 year

Fixed for 2 years

Floating Rate Of Interest

Up to Rs 25 lakh

10.75%

11.00%

10.75% (BBR)

> Rs 25 lakh & upto 30 lakh

11.00%

11.25%

11.00% * (BBR+0.25%)

> Rs 30 lakh & < 75 lakh

11.25%

11.50%

11.25% (BBR+0.50%)

Rs 75 lakh & above

11.75%

12.00%

11.75% (BBR+1%)

*25 bps higher if LTV is above 75%

The rates after 1-2 years in case of fixed/floating rate of interest scheme, would be linked to Bank's Base Rate (BBR) as given in column 4 above.

IDBI Bank has also decided to offer concession of 100 bps in Rate of Interest for all segment of loans as well as 100% waiver of processing fee for Auto Loans.

All the offers are applicable to the new loans sanctioned between October 15, 2011 to December 31, 2011