Description
IDBI Bank personal loan Details
Salaried professionals and self-employed individuals can get IDBI Bank personal loans to meet unexpected and urgent financial requirements, such as higher education, medical expenses, renovation of a house, abroad trip, wedding expenses and a lot more. IDBI Bank personal loans can be applied online with minimum documentation. You can avail a personal loan up to Rs. 10 lakh from any of IDBI branches and repay it within 12 months to 60 months.
IDBI Bank Personal Loan Interest Rate
|
Interest rate |
9.65% to 14% per annum |
|
Processing fee |
1% of the loan amount |
|
Loan amount |
For salaried and self-employed individuals
For pensioner:
|
|
Foreclosure/ prepayment charges |
Note: No further personal loan will be sanctioned to the borrower for 12 months from the date of part pre-payment |
|
Loan tenure |
From 12 months to 60 months. |
Features of IDBI Bank Personal Loan
Easy loan application process: Applying for a personal loan from IDBI Bank is simple and fast. Personal loans can be applied online from your home.
Flexible tenure: Customers can get a personal loan for a flexible tenure ranging from 12 months to 60 months.
Flexible personal loan amount: Salaried and self-employed individuals can get a personal loan from Rs. 50,000 to Rs. 10 lakh. A personal loan from Rs. 25,000 to Rs. 5 lakh is available for pensioners.
Free personal accident insurance cover: IDBI personal loan borrowers will be covered under a free personal accident insurance policy.
IDBI Bank personal loan is available in three variants:
- Personal loan to salaried and self-employed individuals
- Salary account with an in-built overdraft facility
- Pension account with in-built overdraft facility to IDBI Bank pensioners
Top-up loan facility: Existing loan borrowers for a minimum 1 year, having clear repayment track record can enjoy top-up loan facility.
IDBI Bank Personal Loan Eligibility Criteria
|
Criteria |
Salaried/Pensioner |
Self-employed individuals |
|
Age |
For pensioners/family pensioners
|
|
|
Minimum salary/ income |
|
For self-employed professionals
For self-employed non-professionals
|
|
Employment |
|
Self-employed professional and non-professional having asset/ liability relationship with IDBI Bank |
|
Insurance |
IDBI personal loan borrowers will be covered under a free personal accident insurance policy. |
Note- IDBI Bank Personal Loan Eligibility Criteria
IDBI Bank Personal Loan Eligibility Criteria for Overdraft Facility
|
Criteria |
Salary account with in-built overdraft facility |
Overdraft facility to IDBI Bank pensioners |
|
Age |
|
Should not exceed 75 years |
|
Category |
Salaried applicants having salary accounts with IDBI Bank |
NA |
|
Employment |
Any salaried professional employees with a minimum one year of continuous services in any of central/ state government, PSU organization, and individuals employed with multinational companies & listed Pvt Ltd companies for a minimum of one year |
Available for customers maintaining their pension account with IDBI Bank |
|
Tenure |
The overdraft facility remains valid for two years; renewable every two years |
The overdraft facility remains valid for one year; renewable every year |
|
Maximum limit |
Five times of the previous six months average salary |
Five times of the monthly net pension |
Note: Pensioners need to provide a third-party guarantee to avail a personal loan from IDBI Bank
Documents Required for IDBI Bank Personal Loan
Documents required may vary from applicant to applicant, here is a basic list of documents you need to submit to apply for IDBI Bank personal loan:
For salaried employees
- Proof of identity: A copy of Voter’s ID/ PAN card /Aadhaar card /Driving license
- Address proof: A copy of Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport
- Credit information: PAN number to check your credit history
- Income proof: A copy of a bank statement for the last six months
- Salary slips: A copy of salary slips for the last three months with the latest Form 16
- Bank statement: Bank statement showing salary being credited for the last 3 months
- Employment certificate: A certificate showing one year of continuous employment
For self-employed employees
- Proof of identity: A copy of Voter’s ID/ PAN card /Aadhaar card /Driving license
- Address proof: A copy of Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport
- Credit information: PAN number to check your credit history
- Qualifications: Highest profession degree for self-employed professionals
- Financial Statement : Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules audited by a Chartered Accountant
- Bank statement: Bank statement showing salary being credited for the last 3 months
- Proof of business continuation
- Latest Form 16
How to calculate IDBI Bank Personal Loan EMI?
It is important to know how much EMI you would need to pay for a personal loan. You can use a personal loan EMI calculator on Afinoz.com to calculate monthly instalment you would be paying every month, making sure it fits into your monthly budget. A personal loan EMI calculator helps you calculate your monthly outgo and plan your finance with ease.
IDBI Bank Personal Loan Comparison
|
Banks |
Interest Rate |
Processing Fees |
Amount |
Terms |
|
IDBI Bank |
9.65% to 14% p.a. |
1% of the loan amount |
Up Rs. 10 lakh |
12 to 60 months |
|
11.25% to 22.00% p.a. |
Up to 2.25% of loan amount + GST |
Up to Rs. 20 lakh |
12 to 60 months |
|
|
From 11.25% p.a. to 21.50% |
Up to 2.5% of the loan amount |
Up to Rs. 15 lakh |
12 to 60 months |
|
|
15.75% to 24% p.a. |
Up to 2% of the loan amount + GST |
Up to Rs. 15 lakh |
12 to 60 months |
|
|
IDFC Bank |
Starting from 11.50% p.a. |
Up to 2% of the loan amount |
Up to Rs. 40 lakh |
12 to 60 months |
|
11.25% - 19% |
Start at Rs. 1499/- + Applicable GST |
Up to 25 lakhs |
12 to 60 months |
IDBI Bank Personal Loan Customer Care Numbers
IDBI Bank Customer Care Helpline Numbers
1800 209 4324 / 1800 200 1947 / 1800 22 1070
IDBI Bank Non-Toll-Free Numbers Customer Care Helpline Numbers
+91-22 6693 7000
IDBI Bank Customer Care Number for NRI Customers
0091- 22-67719100
Toll-Free Number to Block Debit Card 1800-22-6999
Steps to Block Debit Card Through SMS
Method 1:
SMS BLOCK <Customer ID> <card number> to 5676777
Method 2:
SMS BLOCK <customer ID> to 5676777
Benefits of IDBI BANK Customer Care Helpline
- Balance enquiry
- Hot listing and deactivating of credit/debit cards
- ATM-related queries
- Track loan status
- Suggestions and feedbacks
IDBI Bank Customer Care Helpline Email Ids for Online Support
|
Enquiry Type |
IDBI Bank Customer Care Email ID |
|
For credit cards |
|
|
For reward point related issue |
|
|
Customer care e-mail id |
➤ FAQs
Ques. For what purpose I can avail Personal Loan?
You can get a personal loan from IDBI Bank to meet unexpected and urgent financial crunch. There is no restriction on the end-use of funds extended. You can use it for household buys, education of your children, medical expenses, renovation of the house, exotic holidays.
Ques. How do I repay IDBI Personal loan?
You can repay IDBI personal loans in monthly instalments through the ECS facility or post-dated cheques.
Ques. How much personal loan can I can get from IDBI?
IDBI Bank offers a personal loan ranging from Rs. 25,000 to Rs. 10 lakh. How much amount you can get depends on various factors, such as your credit score, repayment history and annual income.
Ques. What documents do I need to submit for personal loan approval?
While documents may vary from applicant to applicant, common documents you need to present include loan application, identity and residence proof, last six months’ bank statement, latest salary slip and Form no.16.
Ques. What is the tenure for IDBI personal loan?
You can get a personal loan from IDBI Bank for a flexible tenure ranging from 12 months to 60 months.
Ques. What is an EMI?
Ans. EMI refers to Equated Monthly Instalment which includes principal and interest. When you get credit like personal loan, credit card or home loan etc. you repay it by way of EMIs on a predetermined date. EMI offers you the convenience of repaying the credit over a period of time rather than paying it upfront.
Ques. What is the rate of interest on a personal loan at IDBI Bank?
Rate of interest applicable on IDBI personal loans starts from 12% to 14% p.a. It depends on your credit score and repayment history.
Ques. Who can apply for Personal Loan with IDBI Bank?
Any salaried professional/ pensioner having salary/ pension account with IDBI Bank can apply for a personal loan. All central/ state government, PSU employees and individuals employed with multinational companies & listed Pvt Ltd companies with or without a relationship with IDBI Bank can also apply for a personal loan.
Ques. Why choose IDBI Bank personal loans?
DBI Bank personal loans have a wide range of benefits: Attractive rate of interest. Interest is charged on daily reducing balance. Online application and quick disbursal. Free personal accident insurance cover. Flexible loan amount starting from as low as Rs. 25,000
Ques. For how long can I get a personal loan?
IDBI Bank personal loans are available for a flexible repayment tenure; you can get the loan for 12 to 60 months
Ques. Can I foreclose personal loans?
Prepayment or foreclosure of IDBI personal loans is allowed after 6 months of loan disbursal without any prepayment charges. Prepayment or foreclosure before it will accrue a prepayment charge of 2% of the outstanding loan amount.
Ques. How can I repay a personal loan?
You can repay the loan in EMI by putting a Mandate / Standing Instructions (SI) to debit your Salary / Saving bank account with IDBI Bank on a fixed given date agreed by you.
Ques. How can I get my IDBI Bank Home Loan Statement Online?
One can get the IDBI Bank Home Loan Statement Online, by logging in on the online portals of the bank. By choosing the Home Loan provisional certificate option under the inquiries tab.
Ques. How do I download my bank statement?
For bank statements, you can easily download them by using the online portals of the IDBI Bank. If you want to download an IDBI Bank loan statement. You just need to access the net banking service, which is done through the IDBI Bank login ID and password allocated by the bank.