Can I get a tax benefit on IDBI Bank Loan Against Property?
No. IDBI Bank does not offer tax benefits for loan against property. However, it provides a mortgage loan linked to the RBI Repo rate starting from 10.20%. IDBI Bank has its own IDBI Bank Repo Linked Lending Rate (RLLR). This is generated after adding the bank’s markup to the original rates. The RLLR rates change with the change in Repo rates. Throughout the tenure of the loan, the bank applies an additional spread that remains constant.