IDBI Bank Personal Loan

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IDBI Bank personal loan is an unsecured loan you can use to meet different expenses. IDBI Bank is a famous company that provides financial services and is owned by the government of India. It offers many types of products and services to fulfil the financial requirements of its customers. The personal loan provided by the bank helps in meeting the unexpected expenses and even in paying off a high debt. This loan also helps in managing the home loan margin money. Different repayment durations and lucrative interest rate are offered by the bank.

Our website, Loanbaba.com will provide you all details about personal loan Industrial Development Bank of India (IDBI).

Why Choose IDBI Bank Personal Loan?

• The advantage of this loan is its same interest throughout the duration.
• Simple documentation is needed and the personal loan in IDBI Bank then gets processed faster.
• The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.

• You can check out IDBI Bank personal loan eligibility and IDBI Bank Personal Loan EMI calculator at Loanbaba.com.

Features of Personal Loans at IDBI Bank

The following key points will help you understand the features and benefits of the personal loans:

1. Individuals who work on salary basis:

Age: 22 years minimum and 60 years maximum

Income: Twenty thousand rupees maximum

Amount of loan: Ten lakh rupees Maximum

2. Individuals who are self employed:

Age: 22 years minimum and 60 years maximum

Income: Twenty-five thousand rupees maximum

Amount of loan: Five lakh rupees Maximum

Why Apply for IDBI Bank Personal Loan?

Loanbaba provides comprehensive information about personal loan schemes by IDBI. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for this loan online on the bank's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

IDBI Bank Personal Loan Interest Rates

Personal Loan IDBI Bank interest rate ranges between 12.55% and 13.75%, but varies as per individual profile. Keep a check on this page to note the updated IDBI Bank< personal loan interest rate for the current year.

IDBI Bank Personal Loan Eligibility Calculator

Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost IDBI Bank personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for IDBI Bank personal loan are discussed below:

• The applicant for personal loan IDBI Bank needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.
• He/she meet the requirement for credit score and should not be under too many debts.

Types of IDBI Bank Personal Loans

IDBI Bank has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

IDBI Bank Personal Loan FAQs

Below provided are important questions about personal loan IDBI Bank.

• addFAQs
  1. Which factors affect the eligibility for IDBI Personal Loan?

  Financial Background- The financial background of the applicant gives a clear idea about the repayment capacity of him/her to the bank. One whose financial background is good has increased chances to get the loan than the one having poor background. 

  Income Stability- One should have a stable and consistent source of income to be able to get the loan. The bank may reject the application in case the applicant is working as an intern or on temporary basis. The bank looks at this factor to have the idea of repayment capacity of the applicant.

  Age- Applicant’s age is also a major factor affecting the loan eligibility. He/she should be aged 22 years or above to avail the loan.

  Credit Score- The credit score or history of the applicant is the deciding factor to be eligible for the loan. He/she should possess score of seven hundred or more to avail the loan.

  2. What are the pre-closure charges for personal loan IDBI bank?

  The pre-closure charges are 2.00 percent + applicable taxes. But pre-closure after 6 months does not attract any charges.

  3. What is the processing fee for personal loan IDBI Bank?

  The processing fee is 1% of the loan amount with applicable taxes.