You’ve seen that apartment three times now. The one with the balcony where your morning tea would taste different, where your kids would finally have their own room. But every time you open the loan calculator, your stomach tightens. Twenty-five years of EMI. What if they reject you? What if the paperwork never ends?
What if you’re signing away your freedom? Everyone around you has conflicting advice about IDLC versus banks, about hidden fees, about whether you even qualify. Here’s what’s true: the confusion is real, but the path forward doesn’t have to be. Let’s walk through this together, turning your fear into a clear, confident decision.
Keynote: IDLC Home Loan
IDLC Finance PLC offers home financing solutions with 80-85% loan-to-value ratios, significantly higher than traditional banks’ 70% caps. As Bangladesh’s largest non-banking financial institution, IDLC processes applications in 7-10 working days versus banks’ 30-90 day timelines. Interest rates range from 9% under Bangladesh Bank refinancing schemes to 14% base retail rates, with maximum tenures up to 25 years for eligible borrowers.
That Sinking Feeling When “Home” Feels Impossible
The math that keeps you renting forever
You calculate down payments and your savings account laughs back at you. Rent consumes half your salary while property prices climb faster than your income ever will. That 70% bank financing cap means you need 30 lakhs cash tomorrow for a 1 crore apartment. The dream apartment slips to someone with richer parents or bigger savings.
My neighbor Kamal, who earns 65,000 taka monthly as a mid-level manager, spent three years saving for a down payment. By the time he had 20 lakhs ready, the same apartments in Mirpur were selling for 1.3 crore instead of 90 lakhs. He’s still renting.
Why everyone seems to own except you
Only about 30% of Bangladeshis own their homes compared to developed countries where ownership crosses 60%. Outstanding housing loans hit Tk 1.283 trillion in FY24, growing just 7.51% annually. That’s not enough to match the demand from Bangladesh’s expanding middle class.
Most middle-income earners in the BDT 20,000-60,000 monthly range face documentation brick walls at traditional banks. Your colleague bought last year, but their cousin works at the bank. You don’t have those connections.
The gap between aspiration and approval feels unbridgeable when you’re earning honestly but don’t fit the perfect salaried template banks demand.
The real fear nobody talks about openly
You’re not scared of the monthly payment. You’re terrified of regret later. What if interest rates explode under Bangladesh Bank’s floating rate revisions? What if you lose your job in year three of a 25-year commitment?
What if this loan becomes the anchor drowning every other dream, your daughter’s university abroad, your mother’s medical treatment, your own business idea?
The question that haunts you at 2 AM when you can’t sleep: “Am I making the biggest mistake of my life?”
This fear is valid. A home loan isn’t buying a phone on installment. It’s signing a contract that will outlast most marriages in Bangladesh.
What IDLC Home Loan Actually Means For Your Situation
The NBFI difference that changes everything
Banks process home loan applications in 30-90 days because they’re drowning in bureaucracy. IDLC typically moves in 7-10 working days. That’s not marketing talk, that’s the NBFI advantage.
Relationship managers visit YOUR office instead of you burning leave days standing in branch queues. Up to 85% financing for construction projects versus rigid 70% bank caps that assume everyone has inherited wealth sitting idle.
Decision-makers are fewer layers away from your actual application file. At banks, your file passes through five departments. At IDLC, it’s three.
Here’s the practical difference: when you spot that perfect apartment and the seller wants a decision fast, IDLC’s speed can be the difference between buying and losing.
| Factor | Traditional Banks | IDLC Finance |
|---|---|---|
| Processing Time | 30-90 days | 7-10 working days |
| Maximum Financing | 70% LTV | 80-85% LTV |
| Service Model | Branch visits required | Relationship manager visits you |
| Decision Layers | 5-7 departments | 3-4 approval stages |
| Flexibility | Template-driven | Case-by-case evaluation |
Every product type decoded without the sales pitch
Apartment Purchase Loan: Up to 80% financing including registration costs for properties up to 20 years old. This covers flats in Dhaka, Chittagong, Sylhet, anywhere with clear ownership documents. The registration cost inclusion matters because that’s another 2-3 lakhs you don’t need upfront.
Construction Loan: Up to 85% with phase-by-phase disbursement and grace periods during building. You get money as construction progresses, not all upfront. Interest-only payments during construction, full EMI starts after completion.
Affordable Home Loan: Designed for BDT 20,000-60,000 monthly earners, maximum 25 lakhs, serving 830+ families since 2019 according to IDLC’s impact data. This is for the schoolteacher, the junior accountant, the small business owner who traditional banks ignore.
Semi Paka Loan: For incremental mixed construction in semi-urban areas where you don’t have formal building plans. You’re building gradually as income allows. Banks won’t touch this. IDLC evaluates the repayment capacity instead of demanding perfect architectural drawings.
The insurance nobody explains properly
Home Loan Shield pays your outstanding loan balance if something happens to you. One-time premium, up to 100% coverage of your loan amount. Often includes free medical checkups as part of the underwriting process.
This isn’t about investment returns. It’s about your family not inheriting crushing debt alongside their grief.
The emotional math works like this: can you sleep knowing they’re protected, or will you lie awake wondering what happens if you’re not there to make next month’s EMI?
My colleague Rahim took the insurance. Six months later, he was diagnosed with a serious illness. The policy didn’t pay out because he’s alive and fighting, but knowing it exists gives his wife peace during treatment. That’s worth the premium cost.
Why “largest NBFI in Bangladesh” matters to you
IDLC has been serving customers since 1985 with a AAA rating for financial strength from CRISL. Managing billions in assets means your 50 lakh or 1 crore loan won’t strain their lending capacity. You’re not gambling with a startup lender.
They operate 40+ branches with consistent service standards from Dhaka to Sylhet to Chittagong. More importantly, they’re willing to evaluate unique income situations beyond the template-driven approach that rejects anyone without a 10-year corporate job.
That stability backdrop matters when you’re committing to 20 years of payments. You need your lender to still exist in 2045.
The Money Truth: What You’ll Actually Pay
Interest rates without the smoke and mirrors
Bangladesh Bank’s refinancing scheme offers 9% per annum for eligible housing finance cases. That sounds beautiful until you realize most retail customers don’t qualify for that rate.
IDLC’s retail home loan base rate currently sits at 14.00% effective as of early 2025. Your actual rate depends on your credit profile, existing relationship with IDLC, and current market conditions.
Variable rates can shift without loud announcements following Bangladesh Bank policy changes. Check your statements monthly, not just when renewal notices arrive. I’ve seen rates adjust 1-2% within a year based on SMART system revisions affecting the floating rate structure.
The 9% scheme exists. But budget for 12-14% to avoid nasty surprises later.
Tenure flexibility and the total cost trap
You can get up to 25 years maximum tenure if you’re a salaried professional or established businessman. Non-Resident Bangladeshis investing from abroad get maximum 10 years.
Longer tenure cuts your monthly EMI beautifully on the calculator. It also doubles or triples the total interest you pay over the loan lifetime.
A 50 lakh loan at 14% for 25 years means you’ll pay approximately 1.4 crore total. That’s nearly three times the amount borrowed. The same loan for 15 years drops total payment to around 1 crore. Still painful, but 40 lakhs less painful.
Your age matters critically here. The loan must end before the main earning applicant turns 65. Age 40 now? You get 25 years maximum. Age 50? Only 15 years possible, which means higher EMI whether you like it or not.
The fees that aren’t listed on billboards
Processing fee hits BDT 3,000 just to submit your application. Non-refundable even if rejected. That’s the entry ticket.
Then come the charges listed vaguely as “at actual” in marketing materials:
| Fee Type | Typical Range | When Charged |
|---|---|---|
| Processing Fee | BDT 3,000-5,000 | At application |
| Property Valuation | BDT 5,000-15,000 | During assessment |
| Legal Vetting | BDT 10,000-25,000 | Before sanction |
| Documentation | BDT 2,000-5,000 | During processing |
| CIB Report | BDT 300 per person | For each applicant/guarantor |
| Early Settlement | 1-2% of outstanding | If you prepay |
| Late Payment | 2-3% monthly penalty | On overdue EMI |
VAT adds 15% on top of processing fees. Excise duty appears mysteriously. Late payment charges compound fast, turning a one-month delay into a three-month penalty.
Early settlement fees sting even when you’re trying to save money by prepaying. You’ll pay 1-2% of the outstanding amount as a “penalty” for clearing debt early. Yes, that’s backwards logic.
The 80-85% financing reality check
IDLC offers 80% for apartment purchase, 85% for construction financing. Most banks remain stuck at 70% maximum, requiring massive upfront cash you probably don’t have.
Real example: You want a BDT 1 crore apartment in Bashundhara. At 70% bank financing, you need 30 lakhs down payment plus 2-3 lakhs for registration. At IDLC’s 80%, you need 20 lakhs plus registration often included in the financed amount.
That 10 lakh difference is real money. For many families, it’s the difference between buying now and waiting another five years while prices rise further.
But here’s the catch: forced sale value determines your actual loan amount, not your negotiated price. If IDLC’s valuer assesses the property at 90 lakhs even though you’re paying 1 crore, your 80% financing applies to 90 lakhs, not 1 crore. You need the remaining 28 lakhs in cash.
Can You Qualify Without Lying to Yourself?
The age rule everyone discovers too late
Main applicant must be within 65 years at loan maturity. No exceptions, no negotiation, no “but I’m healthy and working.”
Age 40 now applying for 25-year tenure? Your loan ends when you’re 65. Perfect. Age 50? Maximum 15-year tenure possible, which means higher EMI because the same loan amount compresses into fewer months.
Age 55? You get 10 years maximum. The EMI might be uncomfortably high, possibly unaffordable.
Don’t fudge your age on documents thinking nobody checks. CIB reports, NID copies, and employment records all show birthdates. Inconsistencies trigger automatic rejection plus potential blacklisting.
Restructure your loan plan around honest numbers instead. Maybe co-apply with a younger earning family member. Maybe accept shorter tenure and higher EMI. Maybe look at a smaller property that fits realistic affordability.
Income proof that actually convinces lenders
Salaried employees need six months of bank statements showing consistent salary deposits. Not salary certificates from your employer, actual bank statements proving the money hits your account monthly.
Self-employed and business owners need 2-3 years of tax returns plus business financial statements, profit and loss documentation, balance sheets. This is where most small business owners get rejected because they’ve been avoiding taxes.
Side income must show in bank statements. Your freelance work, your rental income from the ancestral home, your consultancy fees all need documentary proof. Verbal promises don’t count. Cash transactions don’t count. Only verifiable, traceable income matters.
Income gaps or sudden unexplained deposits trigger deeper investigation. If your salary is 50,000 monthly but your statements show 2 lakh deposits some months, IDLC will ask questions. Legitimate explanations work. Inconsistent stories cause delays or rejections.
The debt-to-income ratio calculation subtracts ALL your existing loan EMIs from gross income before determining new loan eligibility. Already paying 20,000 monthly for a car loan? That reduces your home loan eligibility significantly.
The CIB ghost that haunts Bangladesh borrowers
Credit Information Bureau tracks every single loan of BDT 1 or above in Bangladesh. Every credit card, every personal loan, every time you guaranteed someone else’s loan. All of it lives in your CIB report forever.
UC status means Unclassified, which translates to 0-5.99 months overdue. This is the green light for approval. Your loans are current or minimally delayed.
SS status means Substandard, 6-11.99 months overdue. This triggers automatic extra scrutiny, higher down payment requirements, possible rejection.
DF status means Doubtful, 12-17.99 months overdue. Your approval chances dropped to almost zero.
BL status means Bad Loss, 18+ months overdue. Guaranteed instant rejection. No negotiations, no explanations accepted, no exceptions.
Here’s what nobody warns you about: being a guarantor for a defaulting relative damages YOUR CIB report just as badly as defaulting yourself. Your cousin took a business loan three years ago, listed you as guarantor without really explaining what that meant, then stopped paying. You just discovered why every bank rejects your applications now.
Check your CIB status first before applying anywhere. It costs only BDT 300 at any bank branch. Fix issues before they become permanent blocks. You can access official CIB guidelines at Bangladesh Bank’s Credit Information Bureau page.
Property eligibility that kills good applications
Properties older than 20 years face automatic extra scrutiny and stricter financing terms. IDLC might offer only 60-70% instead of 80% because older buildings carry higher maintenance risks and resale uncertainty.
Clear title documentation is absolutely non-negotiable. No pending litigation, no disputed ownership, no missing mutation records. One clouded title issue freezes your entire application.
RAJUK approval violations in Dhaka or local authority non-compliance elsewhere means instant application freeze. Your dream flat was built without proper permits? IDLC won’t finance it no matter how beautiful the interiors are.
Forced Sale Value determines actual loan amount, not your negotiated purchase price. IDLC sends their own valuation team. If they assess lower than your agreed price, your financing drops accordingly. Budget for this gap.
The Application Journey Without Losing Your Mind
Before you even contact IDLC
Check your own CIB report first. Costs only BDT 300 at any bank branch, takes 10 minutes. Finding out you’re already rejected AFTER applying wastes weeks and damages confidence.
Calculate real disposable income honestly. Take-home pay minus ALL current expenses including existing loan EMIs, rent, utilities, food, education, medical, family support. Not wishful math. Not “we’ll eat out less.” Actual current spending.
Gather 6-12 months income documentation before applying. Bank statements, salary slips, tax returns for self-employed. Don’t wait for IDLC to request then scramble searching.
Verify property ownership documents are clean, complete, and consistent. Visit sub-registry office, check mutation records, confirm seller’s ownership chain. Issues discovered during IDLC’s legal vetting cause massive delays.
The submission and verification phase
Apply online through IDLC’s official home loan portal or visit your nearest branch to start the formal process. Online saves time but branch visits let you ask questions immediately.
A relationship manager gets assigned within 2-3 working days typically. This person becomes your single point of contact throughout the process. Save their number.
CIB report processing takes 7-10 working days currently across the financial sector. IDLC requests reports for all applicants and guarantors simultaneously to avoid repeated delays.
Property valuation and technical assessment by IDLC’s in-house team follows CIB clearance. Their engineers visit the property, check construction quality, verify RAJUK approvals, assess market value. This takes another 5-7 working days.
Documentation that decides everything
All applicants regardless of income type need these base documents: National ID card copies for applicant and guarantors, TIN certificate proving tax registration, 6 months bank statements showing income deposits, complete property documentation including deed copies and mutation certificates.
| Document Category | Salaried Employees | Self-Employed/Business |
|---|---|---|
| Income Proof | Latest 6 months salary slips or employer certificate | Profit-loss statements, balance sheets, 2-3 years tax returns |
| Bank Statements | 6 months showing salary credits | 12 months showing business cash flows |
| Employment Proof | Office ID, appointment letter | Trade license, business registration |
| Additional | Promotion letters if recent | Audited financials if company registered |
Keep consistency across all documents. Names, addresses, dates must match perfectly between NID, bank statements, property papers, and income proof. One spelling variation can trigger verification delays.
Scan everything clearly. Blurry photocopies get rejected. Use a proper scanner or quality phone camera in good lighting.
Approval to disbursement reality
Sanction letter gets issued outlining all terms, final interest rate, EMI amount, tenure, total repayment, fees breakdown. Read every single clause twice before signing. This is your last chance to negotiate or walk away.
Disbursement goes directly to the seller for purchase transactions. For construction loans, money releases in phases tied to construction milestones verified by IDLC engineers.
Insurance requirement gets explained upfront if mandatory. Premium financing is sometimes available, adding to your loan amount instead of requiring upfront payment.
First EMI typically starts the month following full disbursement date. Some construction loans offer interest-only payments during building, full EMI after completion. Confirm this clearly.
Planning EMI That Won’t Wreck Your Peace
Finding your safe EMI number
Start from monthly take-home pay after all deductions. Subtract fixed costs: current rent or existing EMIs, utility bills, transportation, food budget, children’s education, elderly parent support, medical insurance.
Set a buffer for genuine emergencies: sudden hospitalizations, family events, job loss contingency, appliance replacements, festival expenses. This isn’t optional padding. Emergencies happen.
Your safe EMI is NOT your maximum possible EMI. Leave breathing room. Financial advisors suggest keeping total EMI burden below 40% of take-home income including all loans.
Stress test the number: if interest rates rise 2% next year as Bangladesh Bank adjusts policies, can you still pay comfortably without cutting food or medical expenses? If the answer is maybe, reduce your loan amount.
Choosing tenure like a strategist
Shorter tenure means higher monthly EMI but significantly lower total interest paid over the loan lifetime. You’ll suffer more monthly but emerge debt-free faster and lighter.
Longer tenure gives comfortable monthly payments that don’t hurt. But total cost doubles or triples. You pay 1.5 crore for a 50 lakh loan, which feels like getting robbed in slow motion.
Consider prepayment flexibility. Some people take 20-year tenure for comfortable EMI but make small extra payments yearly to reduce principal and interest burden. IDLC allows this, though watch for the 1-2% early settlement fee.
Never sacrifice children’s education quality, family’s health coverage, or emergency savings just to afford lower EMI. That’s mortgaging your future twice.
| Loan Amount | Tenure | Rate | Monthly EMI | Total Repayment | Total Interest |
|---|---|---|---|---|---|
| BDT 50 lakh | 15 years | 14% | ~60,000 | ~1.08 crore | ~58 lakh |
| BDT 50 lakh | 20 years | 14% | ~52,000 | ~1.25 crore | ~75 lakh |
| BDT 50 lakh | 25 years | 14% | ~48,000 | ~1.44 crore | ~94 lakh |
The same 50 lakh loan costs you 36 lakhs MORE in total interest for 25 years versus 15 years. That’s a second property’s worth in pure interest payments.
The total repayment number that shocks everyone
Put the total repayment amount next to the flat price for an instantly sobering comparison. That 70 lakh apartment actually costs you 1.75 crore after 20 years of EMI.
This isn’t fear-mongering or trying to discourage homeownership. It’s informed decision-making ammunition that helps you choose down payment size, tenure length, and loan amount wisely.
Knowing the truth upfront prevents the horrible realization in year 10 when you check your loan statement and discover you’ve paid 60 lakhs but principal reduced by only 15 lakhs. That’s how amortization schedules work. Early years pay mostly interest, principal reduction accelerates later.
IDLC Versus Banks: The Honest Comparison
When banks win and when IDLC wins
Banks offer lower baseline interest rates for customers with strong deposit relationships. If you’ve maintained 10 lakhs in fixed deposits for five years at Dutch-Bangla Bank, they’ll likely give you better rates than IDLC offers a new customer.
Banks carry government backing perception. When economy wobbles, people trust banks will survive because Bangladesh Bank protects them. NBFIs operate under different regulations with less explicit safety nets.
But banks reject anyone who doesn’t fit rigid template boxes perfectly. Irregular income? Rejected. Self-employed less than five years? Rejected. Property in semi-urban area? Rejected. They’ve automated decision-making to minimize risk, which means minimizing approvals.
IDLC evaluates actual repayment capacity beyond cookie-cutter formulas. Their relationship managers have authority to present unique cases to decision-makers instead of just feeding data into an algorithm that spits out no.
| Factor | Traditional Banks | IDLC Finance |
|---|---|---|
| Interest Rates | 10-13% with relationships | 12-14% base retail |
| Approval Speed | 30-90 days | 7-10 working days |
| Financing Percentage | 70% maximum | 80-85% |
| Income Flexibility | Rigid templates only | Case-by-case evaluation |
| Service Approach | Branch-based, impersonal | Relationship manager visits |
| Processing After Hours | Rare | Common for serious applicants |
The regulatory landscape that affects you
Bangladesh Bank raised the housing finance ceiling to BDT 2 crore in 2019 under updated consumer financing guidelines. That’s the maximum amount NBFIs and banks can lend to individuals for home purchase or construction.
The 70:30 debt-equity ratio guidance suggests financial institutions should not let your total debt exceed 70% of property value, though NBFIs have some flexibility in implementation compared to strict bank enforcement.
Tax rebate benefit exists: you can claim up to BDT 2 million on yearly interest payments made toward your home loan when filing income tax returns. This reduces your taxable income significantly.
Some municipalities offer reduced holding tax for property owners who purchased using home loans, incentivizing formal financing over cash transactions. Check your local city corporation rules.
You can review comprehensive regulatory frameworks at Bangladesh Bank’s consumer financing guidelines.
Why service quality matters more than you think
IDLC relationship managers often visit your office or home for documentation collection. You don’t burn leave days standing in bank queues while tellers go to lunch exactly when you arrive.
Personal approach versus call center robots that transfer you between departments eight times before disconnecting. When you call your IDLC relationship manager directly, they answer or call back within hours.
Post-disbursement support includes free technical advice if construction issues arise and legal guidance if seller documentation questions emerge. Banks give you money then disappear until EMI bounces.
In-house engineers at IDLC provide project approval opinions on builders and ongoing construction quality during your building phase. That’s risk management that protects your investment beyond just financing it.
The refinancing option nobody mentions
If significantly better rates emerge later at competing institutions, refinancing transfers your outstanding loan balance to the new lender at lower rates. It’s like switching mobile operators for better call rates.
IDLC allows partial and full prepayment without penalty clauses in many loan agreements, though always verify your specific sanction letter terms. The 1-2% early settlement fee still applies but it’s not a complete prepayment ban.
Flexibility matters enormously when your financial situation improves unexpectedly. Got a promotion? Inherited money? Annual bonus bigger than expected? The ability to reduce debt without penalty fees accelerates your path to ownership freedom.
Watch Bangladesh Bank interest rate policy changes. When rates drop significantly, refinancing can save lakhs over remaining tenure even after paying settlement fees to current lender and processing fees to new one.
Your Step-by-Step Action Plan Starting Today
The three things to do before applying
Download your CIB report from any bank branch for BDT 300. Resolve any overdue loan EMIs immediately before they progress to worse classification status. Even small dues matter.
Organize all required documents into one physical folder and one digital folder with consistent file names and clear scans. Birth certificate, NID, marriage certificate, salary slips, bank statements, property papers, tax returns if self-employed. Having everything ready prevents frantic searching later.
Use IDLC’s online EMI calculator with realistic numbers, not dream scenarios. Input the actual interest rate you’ll likely get, which is 12-14% for most retail customers, not the 9% refinancing scheme rate that doesn’t apply to you.
Questions to ask the relationship manager
Request complete rate structure breakdown in writing, not verbal approximations that change during final sanction. What’s the base rate? What margin applies to your risk category? How frequently does floating rate adjust?
Ask for complete fees list with estimated ranges upfront. Processing fee exact amount, valuation charges typical range, legal vetting costs, documentation fees, insurance premium if mandatory. Surprises during sanction cause massive budget disruption.
Clarify which documents cause most application delays and submit those first. Usually it’s the property title verification and self-employed income documentation. Frontload the slow stuff.
Confirm early settlement terms clearly. Can you prepay principal partially during tenure? What’s the penalty percentage? Does full settlement before maturity carry different fees than partial prepayment?
After approval, the critical verification
Verify every number in the sanction letter matches your understanding from discussions. Loan amount, interest rate, EMI amount, tenure months, total repayment, processing fees, insurance premium if applicable.
Confirm insurance coverage details. What’s actually protected? What exclusions exist? Premium amount financed or paid upfront? Medical examination required or not?
Review all third-party fees before signing final loan documents. Sometimes valuation or legal fees quoted during application differ from actual charges billed at disbursement. Question discrepancies immediately.
Keep one full month’s EMI plus BDT 50,000 emergency buffer untouched in savings before starting loan repayment. First few months test your budget adjustment. Having safety net prevents first payment default which damages CIB immediately.
Conclusion
You started this journey feeling overwhelmed, caught between the dream of ownership and the nightmare of debt. But now you understand the critical pieces: IDLC’s 80-85% financing percentage that lowers your down payment burden from 30 lakhs to 20 lakhs on a 1 crore property, the difference between the 9% refinancing scheme and 14% base retail rates you’ll actually pay, the CIB report check that decides approval before anything else matters, the real costs including processing fees and total interest that can triple your loan amount over 25 years, and the application process that doesn’t have to be mysterious if you prepare documentation systematically.
This isn’t just about getting approved. It’s about choosing stability you can sustain for 20 years without sacrificing your family’s medical needs, your children’s education quality, or your own peace of mind. Here’s your action step right now: open a notes app and write three brutally honest numbers, your monthly take-home income after all deductions, your total fixed expenses including existing EMIs and unavoidable costs, and the maximum EMI you can pay while still saving 10,000 monthly for emergencies.
Only with those real numbers should you use IDLC’s calculator to discover what loan amount actually fits your life instead of destroying it. Knowledge turns paralyzing fear into confident power. That apartment with the balcony where your morning tea will taste different? It might be closer than your anxiety wants you to believe, but only if you build the path with honest numbers and informed decisions rather than desperate hope.
IDLC Personal Loan (FAQs)
What documents are required for IDLC home loan approval?
Yes, IDLC requires National ID, TIN certificate, 6 months bank statements, property ownership documents, and income proof. Salaried employees need salary slips while self-employed applicants must provide 2-3 years of tax returns and business financial statements. All document names and addresses must match perfectly across submissions.
How much income do I need to qualify for IDLC home loan?
Yes, minimum income requirements vary by loan product and amount. For affordable home loans, monthly income of BDT 20,000-60,000 qualifies for up to BDT 25 lakh financing. Standard home loans typically require BDT 40,000-50,000 monthly for salaried employees, while self-employed applicants need demonstrated business profitability over 2-3 years with proper tax documentation.
What is the maximum loan tenure for IDLC home financing?
Yes, maximum tenure is 25 years for salaried professionals and established businessmen, but actual tenure depends on applicant age. The loan must mature before the main earner turns 65 years old, so a 50-year-old applicant gets maximum 15 years tenure regardless of income level.
How does CIB report affect IDLC home loan approval?
Yes, CIB classification directly determines approval probability. UC status with 0-5.99 months overdue on any loan enables approval, while BL status from 18+ months overdue guarantees instant rejection. Even serving as guarantor for someone else’s defaulted loan damages your CIB report and blocks your own financing applications until resolved.
What are the processing fees for IDLC home loans?
Yes, expect BDT 3,000-5,000 non-refundable processing fee at application, plus property valuation charges of BDT 5,000-15,000 and legal vetting fees of BDT 10,000-25,000 depending on property complexity. Early settlement carries 1-2% penalty on outstanding balance, and late payment charges compound at 2-3% monthly on overdue EMI amounts.