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.
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How to Pay IDBI Bank Home Loan EMI Online?
Rajat
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4 months
2024-05-02T10:36:26+00:00 2024-05-02T10:36:45+00:00Comment
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