How about taking home loan from IDBI Bank ?

I am taking a loan of Rs. 35 lacs from IDBI on 10.25 floating rate of interest. Can any body suggest me about the bank – how is it? would you recomend anybody to IDBI? if yes-why? & if no – why? Any body has any experience with IDBI – please share

2 Replies to “How about taking home loan from IDBI Bank ?”

  1. idbi is a good bank, go ahead with the loan. but , in my opinion, go for a fixed rate of interest, a floting rate loan might prove very costly, The government of India has been increasing interest rates quite regularly. u will loose a lot even if the interest go up by 0.5 %. i have a fixed rate loan at 8.5 % and bank cannot increase this rate atl all even if the market interest rates go up . in floating rates loan this problem is there.

  2. IDBI is partially government owned.
    No bank in India is unsafe.
    Interest rate looks higher.
    As advised by another member of this group,
    don’t keep the rate of interest floating.

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