हिंदी में पढ़े
Please Note: IDBI Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
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IDBI Bank Personal Loan Highlights |
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| Interest rate | 11.00%-15.50% p.a. |
| Loan Amount | Rs 25,000-Rs 5 lakh |
| Tenure | 1-5 years |
| Processing Fees | 1% of loan amount subject to maximum of Rs 2,500 |
| Minimum Salary | Rs 1.8 lakh p.a. for salaried |
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Table of Contents
IDBI Bank Personal Loan Interest Rates
| Maximum Interest Rate (fixed rate) | 11.00% p.a. |
| Minimum Interest Rate (fixed rate) | 15.50% p.a. |
| Salary/Pension Account with Overdraft facility | 13.25% p.a. |
Check Your Free Credit Score to know personal loan eligibility Check Now
Compare Personal Loan Interest Rates of Top Lenders
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 10.49% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% onwards | Apply Now |
| HDFC Bank | 10.50% onwards | Apply Now |
| ICICI Bank | 10.50% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
| Bajaj Finserv | 11.00% onwards | Apply Now |
| Federal Bank | 11.49% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 12.25% - 30.00% | Apply Now |
| MoneyTap | 12.96% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 13.00% onwards | Apply Now |
| MoneyView | 15.96% onwards | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also check the best banks and NBFCs for personal loans in India
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IDBI Bank Personal Loan Processing Fees and Charges
Processing Fee
| Personal Loan | 1% of loan amount subject to minimum Rs 2,500 |
| Salary Account with in-built overdraft facility | NIL |
| Overdraft facility to IDBI Bank pensioners | NIL |
Know more about the processing fee for personal loans charged by other lenders
Part Payment/Foreclosure Charges
| Part Payment | |
| Personal Loan | 2% of outstanding loan amount, within 6 months from disbursement |
| After 6 months: NIL | |
| Maximum part payment allowed: 10% of outstanding loan amount (minimum Rs 10,000) | |
| Part payment allowed maximum 3 times a year with minimum interval of 90 days | |
| Foreclosure | |
| Personal Loan | Within 12 months from date of loan disbursement: 2% of outstanding loan amount |
| Between 12-24 months: 1% of outstanding loan amount | |
| After 24 months: NIL | |
| Salary account with in-built overdraft facility | NIL |
| Overdraft facility to IDBI Bank Pensioners | NIL |
| Penal Interest | 4% p.a. on overdue amount and overdue period |
Also know about the personal loan prepayment charges levied by top lenders
Other Charges
| Copy of Property Documents | Rs 225 |
| Document Retrieval Charges | Rs 2,000 |
| Foreclosure Letter Issuance | Rs 500 |
| Swapping of PDCs/ECS or repayment mode change to PDC or ECS | Rs 575 |
| Duplicate Statement Charge | Rs 115 |
| Re-issuance of PO/DD | Rs 115 |
| Duplicate Certificate/Interest Paid Certificate | Rs 150 |
| Copy of credit information from CIBIL | Rs 50 |
| Non-collection of original documents after 30 days from loan closure date | Rs 1,000 |
| CERSAI Charges | Up to Rs 5 lakh- Rs 100 |
| Above Rs 5 lakh- Rs 200 | |
| Default in payment through cheques, ECS, or any other allowed payment mode | Rs 300 |
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Types of IDBI Bank Personal Loan
Personal Loan For Salaried Applicants
- Purpose: Personal loan for salaried employees working with State/Central government/PSUs/Departments/MNCs/Listed Companies/Private Limited Companies with or without any relationship with the IDBI bank
- Loan Amount: Rs 25,000-Rs 5 lakh
- Tenure: 1-5 years
- Processing Fee: 1% of loan amount subject to minimum Rs 2,500 + taxes
Personal Loan For Self-Employed Professionals
- Purpose: Personal loan for self-employed applicants to meet their personal requirements. This loan facility is only available to self-employed professionals having asset and liability relationship with IDBI Bank
- Loan Amount: Rs 25,000-Rs 5 lakh
- Tenure: 1-5 years
- Processing Fee: 1% of loan amount subject to minimum Rs 2,500 + taxes
- Part Prepayment: 10% of outstanding loan amount subject to minimum Rs 10,000
- Foreclosure Charges: Before 12 months of disbursement date- 2% of outstanding loan amount
1% of outstanding loan amount, if sought after 12 months and before 24 months
Salary Account with in-built Overdraft Facility
- Purpose: Personal Loan Overdraft facility to individuals having salary accounts with IDBI Bank
- Loan Amount: Five times of net salary
- Tenure: Overdraft facility is available for 2 years (can be renewed every 2 years for salary account with IDBI)
- Processing Fee: NIL
- Part Payment/Foreclosure Charges: NIL
Top-up Personal Loan
Offered to existing personal loan borrowers of IDBI Bank with clear repayment history of at least 12 months.
Pension Account with in-built Overdraft Facility
- Purpose: Pension loan with overdraft facility to pensioners having pension account with IDBI Bank
- Loan Amount: Rs 25,000-Rs 3 lakh
- Tenure: 1-5 years
- Processing Fee: 1% of loan amount subject to minimum Rs 2,500 plus taxes
- Part Prepayment: 10% of outstanding loan amount subject to minimum Rs 10,000
- Foreclosure Charges: 2% of outstanding loan amount, if sought before 12 months of disbursement date
After 12 months and before 24 months- 1% of outstanding loan amount - Top-up Loan: For loan account holders with at least 12 months and clear repayment history
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Eligibility Criteria for IDBI Bank Personal Loan
For Salaried Applicants
- Profession: Permanent employees of State/Central/PSUs/Departments/MNCs/Listed Companies/Private Limited Companies with or without existing relationship with the bank
- The applicants should be salaried and have corporate salary account with IDBI Bank
- Age: 21- 60 years years
- Minimum Salary: Rs 1.8 lakh p.a. for salaried
For Self-Employed Professionals
- Profession: Self-Employed professionals with liability and asset relationship with IDBI Bank
- Age: 21-60 years
- Minimum Salary: Rs 3.6 lakh p.a. for self-employed
For Salary Account with in-built Overdraft Facility
- Profession: Permanent employees of government/semi-government/quasi-government/public limited companies/MNCs/private limited companies/reputed institutions
- The applicants should be salaried and maintaining salary account with IDBI Bank
- Age: 22-60 years
- Minimum Salary: Rs 1.8 lakh p.a. for salaried
For Pension Account with in-built Overdraft Facility to Pensioners of IDBI Bank
- The applicants should have a pension account with IDBI Bank
- Age: Not more than 75 years
- Minimum Salary: Rs 3.6 lakh p.a. for self-employed
IDBI Bank may also consider the credit score of its applicants, just like other lenders do while evaluating their personal loan eligibility.
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Documents Required for Loan Application
- Duly filled application form along with Passport size photographs
- Photo Identity Proof: A copy of your Aadhaar/PAN/Voter ID/Passport/Driving License etc.
- Residence Address Proof: A copy of your Electricity Bill (not more than 3 months old) / Passport/ Ration Card
- Income Proof: A copy of salary account bank statements for the past six months
- Salary slips for the last 3 months
- Employment Certificate from your employes
- Form 16 / acknowledged Income Tax Returns for the last two years
- Any other document required by IDBI bank
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IDBI Bank Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
Q. Can I choose between fixed and floating rates for personal loans?
A. IDBI Bank offers personal loans at fixed rates only. Hence, the applicants cannot choose between the two.
Q. At what minimum credit score can the applicants avail IDBI personal loans?
A. IDBI Bank has not mentioned any specific cut-off credit score for its personal loan applicants. However, applicants having credit score of 750 and above usually have higher chances of availing personal loans at lower interest rates.
Q. How can the applicants repay their personal loans availed from IDBI Bank?
A. The personal loan applicants can repay their EMIs by putting a mandate/Standing Instruction to debit of the salary/savings bank account with IDBI on a fixed date predetermined by the applicant.
Q. I am a self-employed professional not having a savings/loan account with IDBI Bank. Can I avail IDBI personal loans?
A. No, self-employed professional not having a savings/loan account with IDBI Bank cannot avail personal loan from IDBI Bank because IDBI offers personal loans to self-employed professionals having asset/liability relationship with the bank.