How is my loan amount decided after I fill the IDBI Bank Loan Against Property Application?
The bank decides your loan amount depending on your repayment capacity. Factors like age, educational qualification, income, number of dependents, assets, spouse’s income, stability, liabilities, and savings history are considered. The loan amount also varies based on the type of property, viz. residential or non-residential. Residential properties could get you a loan of up to 70% of its total value, and a non-residential property could only get a loan amount of up to 60% of its value.