IDBI personal loan interest rates begin at 11% and may go up to 15.50% based on the applicant’s credit profile, repayment capacity, and relationship with the bank. However, there are special considerations for the physically challenged individuals with IDBI personal loan interest rates starting at 5 % p.a.
Read more to get a comprehensive overview of IDBI Bank’s personal loan interest rates, its offerings, fees, eligibility criteria, and more to help you make an informed decision. On your personal loan journey.
| The IDBI personal loan interest rates can vary between 11.00% and 15.50%, based on the borrower’s financial profile. This range is inclusive of all types of loans. |
IDBI Personal Loans Interest Rates
IDBI Bank offers competitive interest rates on personal loans, specifically made to various customer segments. This can vary between 11.00% and 15.50%, based on the credit and financial profile.
The various types of loans provided by IDBI are as follows:
- Personal Loan for Salaried Individuals/Pensioners
- Personal Loans for Self-Employed Professionals
- Personal Loans for Self-Employed Non-Professionals
- Salary Account with In-built Overdraft Facility
- Pension Account with In-Built Overdraft Facility to Pensioners of IDBI Bank Ltd
However, IDBI also provides loans for the Physically Challenged Persons under the National Divyangjan Finance and Development Corporation (NDFDC).
The IDBI personal loan interest rates for NDFDC are as follows:
| Loan Amount | Rate of interest (fixed) |
|---|---|
| Less than ₹50,000 | 5 % p.a. |
| Above ₹50,000 to ₹5 lakhs | 6 % p.a. |
| Above ₹5 lakh to ₹15 lakhs | 7 % p.a. |
Note: Interest rates are subject to change based on the bank’s policies and the applicant’s credit profile.
IDBI Personal Loan Details
Here is an overview of the IDBI personal loan to help you understand various aspects related to the personal loan.
| Feature | Details |
|---|---|
| Loan Amount | ₹25,000 to ₹5,00,000 |
| Tenure | 12 to 60 months |
| Interest Rate | 11.00% to 15.50% p.a. |
| Age | 21 – 60 years old |
| Processing Fee | 1% of the loan amount |
| Prepayment/Foreclosure | Charges as per the loan type and tenure |
| Disbursal Time | Up to 7 working days post-document verification |
| MCLR | 9.10% |
Note: The provided values are accurate and collected from the official website. However, these rates are subject to change at the bank’s discretion.
IDBI Personal Loan Fees & Charges
While IDBI personal loan interest rates are attractive and competitive in the market, understanding the associated fees is essential when considering a personal loan.
| Loan Type | Processing Fee | Additional Charges |
|---|---|---|
| Salaried Individuals | 1% of the loan amount | Foreclosure: 2% within 12 months NIL after 12 months |
| Self-Employed | 1% of the loan amount | Foreclosure: 2% within 12 months 1% between 12 and 24 months NIL after 24 months |
| Pensioners | 1% of the loan amount | Foreclosure: 2% within 12 months 1% between 12 and 24 months NIL after 24 months |
Note: All charges are subject to applicable taxes.
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Comparison of Personal Loan Interest Rates
When comparing personal loan interest rates across various banks and NBFCs, IDBI Bank stands out with its competitive offerings. Here is a list of top banks to compare the interest rates:
| Bank/NBFC | Interest Rate (p.a.) |
|---|---|
| IDBI Bank | 11.00% – 15.50% |
| State Bank of India | 10.30% – 15.10% |
| HDFC Bank | 10.85% – 21.00% |
| ICICI Bank | 10.85% – 16.65% |
| Axis Bank | 10.49% – 21.00% |
| Kotak Mahindra Bank | 10.99% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.75% onwards |
| Bank of Baroda | 10.90% – 18.30% |
| Punjab National Bank | 11.10% – 17.55% |
| Bajaj Finserv | 12.75% – 44.00% |
| IIFL Finance | 12.75% – 44.00% |
| Tata Capital | 10.99% onwards |
| HDB Financial Services | 13.99% onwards |
Note: Interest rates are indicative and subject to change. The mentioned lowest interest rate may not apply to all profiles and is mostly achieved by the best profiles.
IDBI Personal Loan EMI Calculator
Your Amortization Schedule (Yearly/Monthly)
To plan your repayments effectively, it is best to use the IDBI personal loan EMI calculator. This can help you estimate your monthly instalments based on the loan amount, tenure, and interest rate, eliminating the possibility of errors during the hassle of manual calculation.
EMI for IDBI Personal Loan
Here’s an example of EMIs for different loan amounts across different tenures for IDBI personal loan interest rates of 11.00% p.a.
| Loan Amount | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year |
|---|---|---|---|---|---|
| ₹25,000 | ₹2,210 | ₹1,165 | ₹819 | ₹646 | ₹544 |
| ₹50,000 | ₹4,420 | ₹2,330 | ₹1,638 | ₹1,293 | ₹1,087 |
| ₹75,000 | ₹6,630 | ₹3,495 | ₹2,457 | ₹1,939 | ₹1,631 |
| ₹2 Lakh | ₹17,680 | ₹9,322 | ₹6,550 | ₹5,170 | ₹4,348 |
| ₹3 Lakh | ₹26,520 | ₹13,983 | ₹9,825 | ₹7,755 | ₹6,522 |
| ₹4 Lakh | ₹35,360 | ₹18,644 | ₹13,100 | ₹10,340 | ₹8,696 |
| ₹5 Lakh | ₹44,200 | ₹23,305 | ₹16,375 | ₹12,925 | ₹10,870 |
Note: EMIs are approximate and may vary based on the exact interest rate and tenure.
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Factors Affecting IDBI Personal Loan Interest Rate
Several factors influence the interest rate offered by IDBI Bank:. This is mainly based on:
- Credit Score: A higher credit score can lead to lower interest rates.
- Income Level: Stable and higher income may result in better loan terms.
- Employment Type: Salaried individuals in reputed organisations may get preferential rates.
- Existing Relationship with IDBI Bank: Current customers might receive better offers.
Impact of Credit Score on IDBI Personal Loan Interest Rates
Your credit score plays a pivotal role in determining the IDBI Personal loan interest rate.
Your credit score is a three-digit numerical representation of your past credit history and repayment habits. It can be used to analyse your repayment chances and credit management, ensuring the bank is not taking a risk.
- 750 and above: Eligible for the lowest interest rates.
- 700 – 749: May receive competitive rates, subject to other factors.
- Below 700: Higher interest rates or potential loan rejection.
Tip: Regularly check your credit score and address discrepancies to maintain a healthy score. Go for an annual credit report, too, to understand other aspects of your credit history.
Impact of Repo Rate Cut on IDBI Personal Loan Interest Rate
A repo rate is the rate at which commercial banks have to repay the money to the RBI once they have lent it from the RBI.
While IDBI Bank’s personal loans generally have fixed interest rates, changes in the Reserve Bank of India’s (RBI) repo rate can influence the bank’s overall lending rates. The impact of the repo rate cut is lower interest rates for new borrowers.
Additionally, IDBI Bank’s Marginal Cost of Funds based Lending Rate (MCLR) as of April 12, 2025, is as follows:
| Tenor | MCLR (%) |
|---|---|
| Overnight | 8.40% |
| One Month | 8.55% |
| Three Months | 8.85% |
| Six Months | 9.05% |
| One Year | 9.10% |
| Two Years | 9.65% |
| Three Years | 10.05% |
Note: MCLR is primarily applicable to floating-rate loans.
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