IDBI Bank Personal Loan Interest Rate

Preliminary Information

Loan Details

Personal Details

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IDBI Bank Personal Loan Interest Rates (May 2020)

Particulars Salaried Self-employed
Interest rate 12.99% yearly for Salaried individuals and Pensioners maintaining pension and salary accounts with IDBI Bank. 

13.49% per year for salaried customers who do not maintain salary accounts with the IDBI Bank.

13.49% per annum for self employed professionals who have liability relationship with this bank.

Loan Amount

For people having salary account with IDBI Bank –Maximum: Rs.10 lakhs

Minimum: Rs.50000/-
For Pensioners –Maximum: Rs.5 lakhs, with EMI not exceeding 50% of the last credited pension amount.  Minimum: Rs.25000/-

For salaried individual who do not have salary account at this bank – 

Minimum: Rs.50000/-

 Maximum: Rs.5 lakhs

For employees of the 3 armed forces, State and Central government promoted/sponsored institutions –

Maximum: Rs.10 lakhs.

Minimum: Rs.50000/-  

Maximum: Rs.5 lakhs

Minimum: Rs.50000/-

Loan Tenure Minimum: 1 Year Maximum: 5 Years Minimum: 1 Year Maximum: 5 Years
Lowest EMI NA NA
Processing Fee 1% of the loan amount + applicable taxes 1% of the loan amount + applicable taxes
Age

For salaried: 

Min age: 22 years. Max age: 60 years. 

For Pensioners: 

75 years is the Maximum age limit

Min age: 22 years

Max age: 60 years

Prepayment/Foreclosure  Charges 2% of the outstanding loan amount is charged before 6 months

No charges are applied after 6 months

No charges are applied after 6 months

2% of the outstanding loan amount is charged before 6 months. 

The personal loan interest rates of IDBI Bank from the past few years have been varied within 2% and RBI, on the other hand by making certain changes in the repo rate has resulted in lowering the interest rates. The lowest rate of interest offered by IDBI Bank on Personal Loan is 11% whereas; 14% is the highest. However, the interest rates applied could be varied depending on different categories of the customers.

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401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614

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