IDBI Bank Personal Loan

The convenience and affordability of IDBI Bank personal loan is tailored to meet your financial needs. You can benefit from competitive interest rates starting from 9.50% p.a. and the flexibility to avail up to Rs 5 lakh with repayment options over 60 months.

Take advantage of these attractive IDBI Bank personal loan offers to address your financial requirements effectively.

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IDBI Bank Personal Loan Details

With competitive interest rates and flexible eligibility criteria, IDBI Bank Personal Loan is a convenient option for individuals considering a personal loan. Presented below are the highlights of IDBI Bank personal loan interest rates.

Interest rate	Starting from 11.00% p.a. To 15.50% p.a.
Loan amount	Up to ₹5 Lakhs
Tenure	Up to 5 years
Minimum Salary	₹15,000 per month
Processing Fee	Up to 1% of the loan amount

Table of Contents: IDBI Bank Personal Loan

⇾ IDBI Bank Personal Loan Details
⇾ Table of Contents: Canara Bank Personal Loan
⇾ IDBI Bank Personal Loan Interest Rates & Charges
⇾ Types of IDBI Bank Personal Loan Schemes & Features
⇾ IDFC First Bank Personal Loan EMI Calculator
⇾ Comparison of IDBI Bank Personal Loan Vs Other Banks
⇾ IDBI Bank Personal Loan Eligibility
⇾ Features of IDBI Bank Personal Loan
⇾ IDBI Bank Personal Loan Documents Required
⇾ 4 Easy Steps to Apply for IDBI Bank Personal Loan with Buddy Loan
⇾ Frequently Asked Questions On IDBI Bank Personal Loan

IDBI Bank Personal Loan Interest Rates & Charges

IDBI Bank personal loan interest rates range from 11.00% p.a. to 15.50% p.a., subject to change based on the borrower's credit profile. A foreclosure charge of 2% of the outstanding loan amount and a processing fee of up to 1% of the loan amount may apply within 6 months from disbursement.

Presented below is detailed information about IDBI Bank Personal Loan:

Particulars	Fees & Charges
Interest rate	11.00% onwards
Processing Fee	1% of the loan amount
Loan Amount	Up to Rs. 5 lakhs
Income	Minimum salary of ₹15,000 per month
Credit Score	750 and above
Lowest EMI	₹833.33 per month for a loan amount of ₹25,000
Foreclosure Charges	2% of the outstanding loan amount, within 6 months from disbursement
Stamp Duty Charges	Varies depending on the state in which the loan is taken

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Note: The current rates may vary marginally and are inclusive of other charges.

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Types of IDBI Bank Personal Loan Schemes & Features

IDBI Bank offers a variety of personal loan schemes to meet the needs of different borrowers. These loans provide an ideal financial solution to borrowers who need quick and easy access to funds. Benefit from the competitive interest rates and flexible repayment options available with IDBI Bank personal loan.

Personal Loan For Salaried

A loan designed for salaried individuals with a minimum income of Rs. 1.8 lakh per annum.
The maximum loan amount is Rs. 5 lakhs.
The loan tenure is up to 5 years.

Personal Loan For Self-Employed

A loan specifically designed for self-employed professionals.
The loan amount can be up to Rs. 5 lakh
The repayment tenure is between 12 and 60 months.

Pensioner Personal Loan

The eligibility criteria for this loan require you to be a pensioner with a minimum age of 60 - 75 years at the time of loan closure.
The loan amount ranges from Rs. 25,000 to Rs. 3 lakhs.
The processing fee is 1% of the loan amount, with a minimum of Rs 2,500 + taxes.

Top-Up Personal Loan

Can be availed by existing IDBI Bank customers who have already availed a personal loan from the bank
Minimum age of 21 years and a maximum age of 60 years.
The repayment tenure is 12 months.

IDBI Bank Personal Loan EMI Calculator

The calculation of EMI is a vital component of the loan process. Utilize an EMI calculator to determine the IDBI Bank personal loan EMI and interest cost, considering factors such as the loan amount, tenure, and interest rate.

EMI calculation empowers you to make well-informed decisions by aligning your loan amount and tenure with repayment capacity. Calculate and customize your IDBI Bank Personal Loan to suit your financial capabilities. Make use of the IDBI bank personal loan offers to access the loan amount, tenure, and interest rates that perfectly suit your financial capabilities.

Loan Amount :

₹

Interest Rate (p.a.):

Months to Pay:

Monthly EMI	₹86
Principal Amount	₹1,000
Total Interest	₹32
Total Amount	₹1,032.00

Principal Amount Interest Amount

Year	Month	Principal (A)	Interest (B)	EMI (A+B)	Balance	Loan Paid to Date (%)

Comparison of IDBI Bank Personal Loan Vs Other Banks

Comparing interest rates from multiple banks and evaluating your choice would be a smart choice before applying for a loan. Look at the table below to see the differences in interest rates between IDBI personal loans and loans from other banks.

Loan Lender	Interest Rates (p.a)	Processing Fees
IDBI Bank	11.00% onwards	1% of the loan amount
IDFC First Bank	10.49% onwards	3.5% of the loan amount
Canara Bank	Starts from 10.65%	1% of the loan amount
SBI	10.30%-15.10%	Up to 1.50%
HDFC	11.00% onwards	Up to 2.50%
ICICI	10.75% onwards	Up to 2.50%
Citibank	9.99% . To 16.49%	0.25% to 3.00%
Axis	10.25% onwards	1.5% to 2%
IndusInd	11.00%	2.5% onwards
Yes Bank	10.99% per annum onwards	2.50% (one-time fee)
Shriram City	11.49% To 23%	2.50%

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IDBI Bank Personal Loan Eligibility

In order to be eligible for an IDBI personal loan, specific factors, including age, income, employment, and credit history are considered. The eligibility criteria for IDBI Bank personal loan is pivotal in determining an individual's qualification and potential loan amount. By referring to these criterias, applicants can assess their eligibility and make informed decisions regarding their loan application.

Check your eligibility here before you apply online for a PNB personal loan.

Factors	General Eligibility Criteria
Age	Between 21 and 60 years old
Monthly Income	Minimum ₹15,000 per month
Credit Score	750 or above

IDBI Bank Personal Loan Documents Required

The following table offers a summary of the necessary documents required during the application process for an IDBI Bank personal loan:

Identity Proof: PAN card, Aadhaar card, passport, driving license, voter ID card.
Income Proof: Electricity bill, gas bill, phone bill, bank statement.
Address Proof: Salary slips, Form 16, ITR.
Other Documents: If you are a self-employed individual, you may be required to provide additional documents such as a certificate of incorporation, profit and loss statement, and balance sheet.

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Features of IDBI Bank Personal Loan

Here are the exclusive features and benefits of PNB personal loan

Flexible Repayment
Schedule

You can choose a repayment
tenure of 12 to 60 months

Competitive Interest
Rates

The interest rates start at
11.00%, which is competive
with other banks.

Convenient Online
Application

You can apply for an IDBI
bank personal loan online,
24/7.

No Repayment
Penalty

Prepay your loan without
any penalty and save your
money on interest

Easy Documentation

Simple documentation
process for quick loan
approval

Quick Approval

The laon approval process
is quick and hassle-free.

4 Easy Steps to Apply for IDBI Bank Personal Loan with Buddy Loan

Here’s the step-by-step process that you can follow to apply for IDBI Bank personal loan on Buddy Loan:

Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
Step 5: Enter your work details (Including company name, years of service and Designation)
Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Ready to take the next step? Apply for a Personal loan now!

Frequently Asked Questions On IDBI Bank Personal Loan

The interest rate for an IDBI Bank salary loan is 11.00% to 15.50%, depending on your credit score. The interest rate is reviewed periodically by IDBI Bank and may be subject to change. It takes into account various factors, such as your credit score, loan amount, tenure, and other factors.

There is no set minimum CIBIL score required for a personal loan from IDBI Bank. However, a higher CIBIL score will increase your chances of getting approved for a loan and getting a lower interest rate. A good CIBIL score is generally considered to be 750 or above.

To be eligible for an IDBI Bank Personal Loan, you must be a salaried or self-employed individual with a minimum annual income of Rs. 1.8 lakh or Rs. 3.6 lakh respectively. You must also have a good credit score.

The maximum loan amount offered by IDBI Bank for personal loans is Rs. 5 lakhs. Please note that the actual loan amount and interest rate may vary depending on your circumstances.

The repayment tenure for IDBI Bank Personal Loans ranges from 12 to 60 months, depending on the applicant's salary account type and loan amount.

Yes, you can prepay or foreclose your IDBI Personal Loan. There are no prepayment charges if you do so after 24 months from the date of disbursement. However, if you prepay or foreclose the loan within 24 months, you will be charged a prepayment fee of 1% of the loan amount outstanding. This fee is waived if you prepay or foreclose the loan in full.

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IDBI Bank Personal Loan Details

IDBI Bank Personal Loan Interest Rates & Charges