IDBI Personal Loan Apply, Interest Rate 2024

IDBI Personal Loan Apply, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

If you want to take advantage of IDBI Bank personal loan then this article is for you. Personal loan is an unsecured loan . This loan lender provides the customers on their credit history. If you are taking a personal loan from IDBI Bank, you will have to apply online or offline for it.

IDBI Bank also provides personal loans to customers. In this article, we will know what is IDBI Bank Personal Loan, what is the interest rate of this loan, eligibility to apply, documents etc. And how can we apply for this instant personal loan etc., so read this article till the end.

IDBI Personal Loan

You can take IDBI Bank personal loan for any of your personal expenses like marriage, travel, higher education, child fees, medical emergency etc. To take this loan, the CIBIL score of the applicant should be very good. The loan amount given under the loan depends on many factors such as the applicant’s credit history, credit score, age, income, location, repayment ability etc. If the applicant’s income and CIBIL score are high, then the applicant can get a personal loan up to a higher loan amount.

Under IDBI Personal Loan, you can take a loan from Rs. 25,000 to Rs. 5,00,000. The tenure of this loan is from 12 months to 60 months. There is a fixed rate of interest for salaried individuals. The processing charge of this loan is 1% of the loan amount, minimum Rs 2500. IDBI Bank offers many types of personal loans and all have different interest rates. You can contact the nearest IDBI Bank branch to know about the current interest rate.

IDBI Loans Overview

• Loan Name : IDBI Bank Personal Loan 2024
• Name of the lending bank: IDBI Bank
• Loan Amount Minimum : Rs.25,000
• Max Loan Amount : 5,00,000
• Interest Rate : Starting from 9.50% p.a.
• Loan Tenure: 12 months to 60 months
• Processing Charge: 1% of the loan amount, Minimum – Rs 2500
• Application Mode : Online / Offline
• Official Website : https://www.idbibank.in/

IDBI Personal Loan Interest Rate 2024

IDBI Bank personal loan interest rate starts from 9.50% per annum but IDBI Bank offers many types of personal loans and all have different interest rates.

Before taking a personal loan, we need to know about Personal Loan Interest Rate 2024. If we apply for a loan without knowing the interest rate of the loan properly, then we may have to face difficulties at the time of repayment of the loan.

You can easily understand IDBI Bank Personal Loan Interest from the table given below. For more details you can contact your nearest IDBI Bank branch. The interest rates for different types of personal loans are as follows:

Personal Loan Overdraft (Floating):

Pension Account with Overdraft Facility (For Retired IDBI Staff)	8.15%
Salary/Pension Account with Overdraft facility (for others)	10.90%

Personal Loan-Fixed :

credit vision score	801 and above	776 to 800	740 to 775	700 to 739	-1
Payroll/Salary/Pension Accounts with IDBI Bank	9.50%	9.75%	10.75%	11.75%	10.75%
Employees of Central/State Government/Public Sector Undertakings/MNCs not having Payroll/Salary Account with IDBI Bank	10.00%	10.25%	11.25%	NA	NA
All other salaried employees	12.00%	12.25%	13.25%	NA
Self Employed Professionals (SEPs) having asset/liability relationship with IDBI Bank	12.25%	12.75%	13.75%
Self Employed Non-Professionals (SENPs) having asset/liability relationship with IDBI Bank	12.50%	13.00%	14.00%

IDBI Bank Personal Loan Benefits and Features

• Any Salaried Person (Salaried Person) and Self Employed (Self Employed) person can take IDBI Bank Personal Loan.
• Applicants can take a minimum loan amount of Rs 25,000 and maximum up to Rs 5,00,000.
• The bank offers various types of personal loans.
• The processing fee for IDBI Personal Loan is 1% of the loan amount, minimum Rs 2500.
• You can take a personal loan for the following purposes:
  • medical emergency
  • home renovation
  • family marriage
  • Margin money management
  • Travel
  • urgent educational needs
  • Immediate hospitalization cost
  • earnest money for land
• Salaried person whose annual income is Rs 1,80,000 can apply.
• You can apply online by visiting the official website of the bank or by visiting the nearest bank branch.
• After 6 months of loan, you can make partial payment without any charges.
• The applicant can make partial payment up to 3 times in a year at an interval of 90 days.
• You can foreclose a personal loan after 24 months of disbursal.
• Existing loan account holder with minimum 12 months and clear repayment track record is eligible to avail top up loan facility.
• If you are an existing customer of the bank, then you can take advantage of the attractive interest rates of the bank.
• Interest is charged on the daily reducing balance.
• Personalized Services and Instant Documentation |
• The borrower does not have to pay any insurance charges for loan insurance.

IDBI Personal Loan Types

IDBI offers various types of personal loans. This personal loan is as follows:

• Personal loan to Salaried Individuals
• Personal loan to Self Employed Professionals
• Salary Account with In-built Overdraft Facility
• Pension Account with In-Built Overdraft Facility to Pensioners of IDBI Bank Ltd.

Features and Eligibility of Personal Loan for Salaried Individuals:

• All salaried customers having Corporate Salary Account with IDBI Bank. All confirmed/permanent employees of State/Central/PSU/Departments, MNCs, Listed Companies, Reputed Private Limited Companies can apply for IDBI Personal Loan.
• The minimum annual income of the applicant should be Rs. 1,80,000.
• The minimum age of the applicant should be 21 years and the maximum age should be 60 years at the end of the loan.
• This loan can be taken for loan tenure ranging from 12 months to 60 months.
• The customer can take a loan from Rs 25,000 to Rs 5 lakh.
• Fixed interest rate for salaried individuals.

Features and eligibility of personal loans for self-employed professionals:

• Self employed professional persons having Asset/Liability relationship with the Bank can apply.
• The minimum annual income of the applicant should be Rs 3,60,000.
• Applicant’s age should be 21 years to 60 years.
• Loan tenure – 12 months to 60 months.
• Loan amount – Rs.25,000 to Rs.5 lakh.

Salary Account with in-built overdraft facility (features and eligibility):

• Permanent employees, government / semi-government / semi-government, public limited company, private limited company, multinational company, working in reputed institution with one year continuous service can apply for this loan.
• Such salaried customers whose salary account in IDBI Bank can apply for this IDBI Personal Loan.
• Applicant should have a minimum annual income of Rs 1,80,000 (for salaried customers)
• Age – Minimum 22 years and Maximum 60 years.
• Overdraft facility will be valid for 2 years, renewable every two years for customers having salary account with this bank.
• The applicant can get the loan amount up to five times the net salary (based on the average salary of the last six months).
• Mode of interest – Temporary for salaried customers having salary account with this bank.
• Processing Fee – Nil |
• Partial Payment/Foreclosure Charges – Nil.

Pension Account with In-built Overdraft Facility for IDBI Bank Limited Pensioners (Features and Eligibility)

• Customers who have pension account with IDBI Bank Limited can take advantage of this facility.
• Applicant should have a minimum annual income of Rs.3,60,000 (for self-employed professionals).
• Applicant’s age should not be more than 75 years.
• Loan Tenure- 12 Months to 60 Months.
• The applicant can take loan from Rs. 25,000 to Rs. 3,00,000.
• Interest Mode – Fixed for pensioners having accounts outside IDBI.

IDBI Bank Personal Loan Eligibility

Only those individuals who are eligible for this loan can apply for this personal loan. Any Salaried Person (Salaried Person) and Self Employed (Self Employed) person can apply for this loan. As we told you earlier that IDBI Bank provides many types of Personal Loan Schemes and all have different eligibility. Information about the eligibility for all these loans has been given above in this article.

You can apply by getting information about the eligibility of the loan for which you want to apply. You can calculate your eligibility using the IDBI Personal Loan Eligibility Calculator by visiting the official website of IDBI Bank.

IDBI Personal Loan Documents Required

Before applying for IDBI Bank personal loan, you should keep all your documents together so that whenever the bank asks for documents from you, you can show them all the documents immediately. To apply for IDBI Bank personal loan, you must have the following documents:

• Signed application form with photo
• Aadhar Card
• pan card
• Copy of Passport/Voter ID Card/Driving License
• processing fee check
• Last 3 Months Bank Statement / 6 Months Bank Passbook
• Documents for Salaried Applicants:
  • latest salary slip
  • Present Dated Salary Certificate with latest Form 16
• Documentation for Self-Employed Applicants:
  • latest bank statement
  • Latest ITR or Form 16

IDBI Personal Loan Apply

If you fulfill all the conditions of this loan, then you can apply for it both online and offline. The procedure to apply is given here:

IDBI Bank Personal Loan Apply Online

If you want to apply online for IDBI Bank personal loan, then follow the steps given below:

• First of all you have to visit the official website of the bank www.idbibank.in.

• On the home page of the website, the option of personal loan will appear in the option of Loans, click on it.
• After clicking, all the information related to personal loan will come in front of you on the next page.
• You have to read this information correctly.
• To apply, you will see the option of Apply Now on this page , click on it.
• On the next page you have to answer a question in Yes and No – Whether existing A/C holder with IDBI Bank?
• If you are a new customer then you have to click on No.
• Then the loan application form will open in front of you.
• You have to enter all the information asked in the form correctly and submit the form.
• After this the representative of the bank will contact you and the loan process will be issued further.

How to apply offline?

• To apply offline, you have to first go to your nearest IDBI Bank branch.
• You will have to contact the representative of the bank by going to the bank branch.
• The employee of the bank will provide you all the information related to the personal loan.
• After that your documents will be verified.
• Then you will be given a loan application form.
• You have to enter all the information asked in the form and attach your documents.
• And it has to be submitted to the form there.
• Your details will be verified by the bank.
• If you fulfill all the conditions then your loan will be approved and the loan amount will be transferred to your bank account.

Personal Loan Fees and Charges

• Processing Fee – 1% of the loan amount, Minimum – Rs 2500.
• Partial payment –
  • Partial payment of loan after 6 months – Nil.
  • Partial payment within 6 months – 2% of the outstanding loan amount + applicable taxes.
• Foreclosure –
  • Foreclosure after 24 months from the date of disbursal – Zero charges.
  • Foreclosure within 12 months from the date of disbursal – 2% of the outstanding loan amount.
  • Foreclosure after 12 months and before 24 months – 1% of the outstanding loan amount.

IDBI Personal Loan EMI Calculator

Before taking a loan, you should calculate the EMI (Equated Monthly Installment) of your loan. The EMI of the loan depends on three main factors – loan amount, interest rate and loan tenure. You can calculate the EMI of your loan with the help of Personal Loan EMI Calculator by visiting the official website of IDBI Bank. If you apply for the loan without calculating the personal loan EMI, then you may have to face difficulties at the time of repayment of the loan.

IDBI Bank Personal Loan Customer Care number

If you are facing any kind of problem in applying for this loan or you want to know more about this loan, then you can get information by calling IDBI Bank Personal Loan Customer Care Number.

• Toll Free Number – 1800-209-4324 / 1800-22-1070

Conclusion:

In this article, we have provided you complete information about IDBI Personal Loan. Anyone can apply for IDBI Bank personal loan by reading this article. Hope you friends have found this article informative. If you liked this article then please share it with your friends.

FAQs on IDBI Personal Loan