If you are a salaried individual, self- employed professional, non- professional or a pensioner, you can avail IDBI Bank Personal Loan to deal with any kind of financial situation. Be it a medical emergency, home renovation, higher education, vacation or anything else, a personal loan from IDBI Bank can be availed for upto Rs. 10 lakh. You can apply for the loan and can repay it within 12 to 60 months.
IDBI Bank Personal Loan - Features and Benefits
- Flexible tenure: The tenure for IDBI Bank personal loan ranges from 12 months to 60 months and can be selected by an individual as per his repayment ability
- Loan amount: A personal loan amount of maximum Rs. 10 lakh can be availed from IDBI Bank
- Easy application:IDBI Bank personal loan can be applied online from the comfort of your home or office. The documents can also be uploaded online
- Free personal accident insurance cover: The individuals availing IDBI Bank personal loan would be covered under free personal accident insurance cover
IDBI Bank Personal Loan - Interest Rate, Fees and Charges
|Interest Rate||Starting from 12% p.a.|
|Processing Fees||1% of the loan amount|
|Loan amount||Minimum: Rs. 25,000|
Maximum: Rs. 10 Lakh
|Prepayment charges||Before 6 months: 2% of the outstanding amount|
After 6 months : NIL
IDBI Bank Personal Loan - Eligibility Criteria
|Parameters||Salaried/Pensioners||Self Employed Professional/ Non- Professional|
|Eligibility||All salaried/Pensioner customer having corporate salary account /Pension account with IDBI Bank.||Self Employed Professional/Non Professional having Asset/Liability relationship with IDBI Bank|
|All Confirmed/permanent employees of State/ Central/ PSU/ Departments, Multi-National Companies, Listed Companies, Reputed Pvt Ltd Companies with or without existing relationship with IDBI Bank.|
|Minimum Net Salary/Income||For salaried class: Rs. 1,80,000 p.a.||For self- employed borrower: Rs. 3,60,000 p.a.|
|For self-employed non- professional: Rs. 5,00,000 p.a.|
|Age||For salaried class:|
· Minimum age should be 21 years
· Maximum age at termination of loan should not be above 60 years or date of retirement, whichever is earlier
|For self- employed class:|
· Minimum age should be 21 years
· Maximum age at termination of loan should not be above 60 years or date of retirement, whichever is earlier.
|For pensioners/family pensioners: 75 years (at the date of maturity of loan amount)|
IDBI Bank Personal Loan - Eligibility Criteria (For Overdraft Facility)
|Criteria||Salary Account with|
in- built overdraft facility
|Overdraft facility for Pensioners of IDBI Bank Ltd|
|Eligibility||Permanent Employee, with a minimum one year of continuous service of the below mentioned Organizations /Companies :|
· Govt./Semi-Govt./Quasi Govt.
· Public Ltd Co.
· Private Ltd Co.
· Multinational Co.
· Reputed Institutions
· Any Corporate approved by CGM of the Zone
|This facility is extended to customers maintaining their pension account with IDBI Bank Ltd.|
|Age||Minimum Age: 22 years|
Maximum Age: 58 years
|Should not exceed 75 years.|
|Categories||Salaried customers maintaining salary accounts with IDBI Bank||NA|
|Tenor||The overdraft facility would be valid for 2 years; renewable every two years.||The overdraft facility would be valid for 1 year; renewable every year.|
|Maximum Limit||Five times of net salary (based on previous six months average salary)||To be computed at five times the monthly net pension.|
IDBI Bank Personal Loan - Documents Required
The documentation for IDBI Bank personal loan may vary from person to person but the basic documents that every individual will require to submit are as follows:
- Identity Proof: A copy of PAN Card or Passport or Voter’s ID
- Address Proof: A copy of Passport or Utility Bill
- Bank statement of the last six months
- Salary slips of last six months for salaried employees
- Form 16/Income tax returns of the last two years
- Filled application form
- Passport size photographs
IDBI Bank Personal Loan - EMI Calculator
While you apply for a personal loan, it is important to understand how much EMI you would be paying each month in order to repay the loan. Paisabazaar offers a personal loan EMI calculator that is an easy to use online tool and allows you to check your EMI so that you don’t borrow more than you can repay.
- Go to the EMI Calculator
- Scroll the bar to your desired loan amount, tenure and interest rate
- Know your EMI within seconds
Compare IDBI Bank Personal Loan VS Other Lenders
|Particulars||IDBI Bank||HDFC Bank||Citi Bank||Axis Bank||ICICI Bank||Bajaj Finserv|
|Interest Rate||Starting from 12%||11.25% to 21.50%||Starting from 10.99%||15.75% to 24%||11.50% to 19.25%||Starting from 12.99%|
|Tenure||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Upto Rs. 10 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Upto 1% of the loan amount||Upto 2.50% of the loan amount||Upto 3% of the loan amount||2% of loan amount plus GST||Upto 2.25% of loan amount plus GST||Up to 3.99% of the loan amount|
|Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now|
IDBI Bank Personal Loan - Top- Up
The existing account holders of IDBI Bank with minimum 12 months and good repayment track can apply for a top- up loan to avail extra funds.
Is it possible to avail top- up facility from IDBI Bank if I am not an existing customer of the bank?
No, it is not possible as to avail the top- up facility as it is necessary to be an existing customer of the bank.
Can I prepay my IDBI Bank personal loan?
Yes, you can prepay the personal loan after six months of loan disbursal. If you prepay the loan before 6 months, a fee of 2% of the outstanding amount would be charged.
How do I check if I am eligible for IDBI Bank personal loan?
By when can I repay the personal loan?
You can repay the personal loan maximum by 60 months.