IDBI Bank Personal Loan

IDBI Bank star star star star_half star 3.25 / 5.04 users

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).

IDBI Bank Personal Loan Details Updated on 19th September 2018

Loan Amount

Maximum Rs. 5 lakhs

Loan Tenure

60 months

Interest Rate

12.55% to 13.75%

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.

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:
  2. Age: 22 years minimum and 60 years maximum

    Income: Twenty thousand rupees maximum

    Amount of loan: Ten lakh rupees Maximum

  3. 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 on Loanbaba.com?

At Loanbaba, you can compare and apply for personal loans online. You can check out several personal loan schemes by IDBI Bank and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for IDBI Bank Personal Loan online on our website without having to visit the 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.

How to Apply for IDBI Bank Personal Loan on Loanbaba?

You can apply for IDBI Bank personal loan or any other bank /NBFC personal loan at Loanbaba.com.

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?
    2. 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.

    3. What are the pre-closure charges for personal loan IDBI bank?
    4. The pre-closure charges are 2.00 percent + applicable taxes. But pre-closure after 6 months does not attract any charges.

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

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

IDBI Bank Personal Loan Review


Personal Loan
star star star star star 14.0/5
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.
Mumbai September 17, 2018
Personal Loan
star star star star star 15.0/5
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.
Mumbai September 17, 2018
Personal Loan
star star star star star 13.0/5
The IDBI bank has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai September 17, 2018
Personal Loan
star star star star star 11.0/5
I could not get personal loan from IDBI bank just because I had lacked in few documents.
Mumbai September 17, 2018

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