An IDBI Bank Personal Loan can help you manage different personal expenses with flexible repayment options. Interest rates start from 11% p.a., and eligible borrowers can get a loan amount of up to Rs. 5 lakh with a repayment tenure of up to 60 months.
You can check the available IDBI Bank Personal Loan options, interest rates, eligibility requirements, documents, and repayment terms before applying.
IDBI Bank Personal Loan Details
IDBI Bank offers personal loans with flexible repayment terms and simple eligibility requirements. If you are considering a personal loan, here are the main details of an IDBI Bank Personal Loan:
| Particulars | Details |
| 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. The final rate can vary depending on the borrower’s credit profile. A processing fee of up to 1% of the loan amount may apply. If the loan is closed within 6 months from disbursement, a foreclosure charge of 2% of the outstanding loan amount may also apply.
| 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.
Not sure of your credit score? Check now for free!
Types of IDBI Bank Personal Loan Schemes
IDBI Bank offers different personal loan schemes for salaried employees, self-employed applicants, pensioners, and existing customers.
Personal Loan for Salaried Individuals
- Available for salaried applicants with a minimum annual income of Rs. 1.8 lakh.
- Maximum loan amount is Rs. 5 lakhs.
- Repayment tenure is up to 5 years.
Personal Loan for Self-Employed Individuals
- Available for self-employed professionals.
- Loan amount can go up to Rs. 5 lakh.
- Repayment tenure ranges from 12 to 60 months.
Pensioner Personal Loan
- Available for pensioners.
- Age should be between 60 and 75 years at the time of loan closure.
- Loan amount ranges from Rs. 25,000 to Rs. 3 lakhs.
- Processing fee is 1% of the loan amount, with a minimum of Rs. 2,500 + taxes.
Top-Up Personal Loan
- Available for existing IDBI Bank customers who have already taken a personal loan from the bank.
- Minimum age is 21 years and maximum age is 60 years.
- Repayment tenure is 12 months.
IDBI Bank Personal Loan EMI Calculator
Calculating your EMI before taking a loan can help you understand how much you may need to repay every month.
The IDBI Bank Personal Loan EMI depends on:
- Loan amount
- Interest rate
- Repayment tenure
You can use an EMI calculator to estimate your EMI and total interest cost. It can also help you adjust the loan amount and tenure according to your repayment capacity.
IDBI Bank Personal Loan Vs Other Banks
Comparing interest rates and processing fees from different banks can help you understand the available personal loan options.
The table below compares IDBI Bank Personal Loan with other lenders:
| Loan Lender | Interest Rates (p.a) | Processing Fees |
| IDBI Bank | 11% onwards | Up to 1% |
| IDFC First Bank | 9.99% onwards | Up to 3.5% |
| Canara Bank | 14.25% onwards | Up to 0.5% |
| SBI | 10% onwards | Up to 1.5% |
| HDFC | 9.99% onwards | Up to ₹6,500 |
| ICICI | 9.99% onwards | Up to 2.5% |
| Axis | 9.99% onwards | Up to 2% |
| IndusInd | 10.49% onwards | Up to 3.5% |
| Yes Bank | 10.85% onwards | Up to 2.5% |
| Shriram City | 11% onwards | Up to 5% |
Note: The interest rates mentioned above are subject to change at the lender’s discretion.
IDBI Bank Personal Loan Eligibility
Your IDBI Bank Personal Loan eligibility depends on factors such as your age, income, employment status, and credit history.
Checking these requirements before applying can help you understand whether you may qualify for the loan and the loan amount you may be eligible to receive.
| 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
You need to submit certain documents while applying 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: Self-employed applicants may need to provide additional documents such as a Certificate of Incorporation, Profit and Loss Statement, and Balance Sheet.
Features of IDBI Bank Personal Loan
Here are the main features and benefits of an IDBI Bank Personal Loan:
- Quick Disbursal: Fast digital processing and direct account credit.
- End-Use Flexibility: Funds for medical, travel, marriage, or home renovation.
- Daily Reducing Balance: Interest calculated on daily reducing principal.
- Minimal Documentation: Simple identity, address, and income proof required.
- Foreclosure Options: Nil charges after 6 months for standard personal loans.
How to Apply for IDBI Bank Personal Loan with Buddy Loan
Follow these steps to apply for an IDBI Bank Personal Loan through Buddy Loan:
- Step 1: Visit buddyloan.com or download and install the Buddy Loan app on Android or iOS.
- Step 2: Open the Personal Loan Application Page. Enter your mobile number and verify it using the OTP received.
- Step 3: Enter the loan amount you need and your personal email address. Then choose the Personal Loan option.
- Step 4: Select your employment type — Salaried, Self-Employed, or Student — and choose your salary mode as 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, date of birth, and gender.
- Step 7: Enter your communication address and income details, and click the Submit button.
Ready to take the next step? Apply for a Personal loan now!
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
