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.
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 |
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 |
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.
Your Amortization Schedule (Yearly/Monthly)
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
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.
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Frequently Asked Questions
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