How to Pay IDBI Bank Home Loan EMI Online?

Last year, I took out a home loan from IDBI Bank. A few weeks prior to the payment of the first EMI, I wasn’t able to recall the process of paying the EMI online. To learn about the process, I called the customer support of the bank and asked about the IDBI home loan EMI payment online process. The executive told me that I could pay the EMI through Internet banking. 

How to Pay IDBI Home Loan EMI Online?

Apart from the method mentioned above, he also told me about a few other methods, which I see have already been mentioned by Mr. Rahul. You can check his answer to know about that. 

Another process of paying IDBI home loan is just keeping the EMI amount in your account as standing instruction. The EMI account will be deducted automatically by the bank on the day of EMI repayment. And as for non IDBI account holders, it can be done by ECS (Electronic Clearing System). 

And that’s how to pay IDBI home loan EMI online. I hope you find this information on how to pay IDBI bank home loan EMI online helps. 

I took out a loan from IDBI Bank last year but a month later I wasn't able to recall how to pay IDBI Bank home loan EMI online. Thus, I called up a friend of mine who works at the bank and asked him about it. He told me that customers can make EMI payments through the bank’s website. After that, he also told me about the different home loan repayment methods for IDBI home loans. 

How to Pay IDBI Home Loan EMI Online?

To complete the IDBI home loan EMI payment online, my friend told me about three methods, which are

• Step-Up Repayment:

  He told me that this is the best option who hope to advance in their careers and increase their yearly income. According to him, the interest rate is initially lower and rises as the loan term progresses.

• Step-Down Repayment Facility

  : For this method, he said that I can opt to pay back their loans with fewer installments after a certain amount of time. He said that the EMI is greater at the beginning and lower at the end of the loan tenure. 

• Tranche-based EMIs

  : He said this method can help me in purchasing an under-construction property and seek a loan in phases. During the initial phase of the loan, I should be able to pay only the interest amount till the final loan amount is not disbursed. 

And that is all that he told me about how to pay IDBI bank home loan EMI online. I hope this helps.