|IDBI Bank Personal Loan Details Updated on|
|Loan Amount||Rs. 25,000 to Rs. 5 lakhs|
|Tenure||12 months to 60 months|
|Interest Rate||13.59% onward|
IDBI Bank Personal loan is available for personal expenses such as wedding, home renovation, education of children, travel, hospitalization, medical contingency, debt consolidation, and other unforeseen circumstances. You can borrow up to Rs. 5 lakhs, starting at 13.59%. The tenure is flexible up to 5 years. There is a facility to prepay and foreclose the loan. The loan schemes are offered to salaried individuals, pensioners, and self-employed people.
In this post, we will discuss IDBI Bank personal loan features, eligibility criteria, interest rates, types of loan schemes, and frequently asked questions.
Here are the features:
The bank offers personal loans to salaried people, pensioners, and self-employed professionals (SEPs). Here are all who can apply:
Here are the details:
Here is how the IDBI Personal Loan Interest Rates are distributed across different customer categories:
|Credit Score||Employees of Public Sector Undertaking, State/Central Government/MNCs Not with Salary/Payroll Acc. at the Bank||Salary/Pension/Payroll Account Holders with the Bank||Other Salaried Individuals||Self Employed Non-Professionals with Asset/Liability Relationship with the Bank||SEPs with Asset/Liability Relationship with the Bank|
|801 and over||10.00%||9.50%||12.00%||12.50%||12.25%|
|776 to 800||10.25%||9.75%||12.25%||13.00%||12.75%|
|740 to 775||11.25%||10.75%||13.25%||14.00%||13.75%|
|700 to 739||12.25%||11.75%||Not Applicable|
|-1||Not Applicable||10.75%||Not Applicable|
Apart from the standard personal loan scheme for salaried people, self-employed professionals, and pensioners, the bank offers two other products:
Here are the FAQs:
Here are documentation norms:
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of IDBI Bank.
As I was holding a savings account with IDBI bank they gave me personal loan for which the entire documentation process was very less. It was a quick disbursement procedure.
Taking personal loan in Gujrat by IDBI bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the IDBI without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
The IDBI bank has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
I could not get personal loan from IDBI bank just because I had lacked in few documents.