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).
The following key points will help you understand the features and benefits of the personal loans:
Age: 22 years minimum and 60 years maximum
Income: Twenty thousand rupees maximum
Amount of loan: Ten lakh rupees Maximum
Income: Twenty-five thousand rupees maximum
Amount of loan: Five lakh rupees Maximum
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.
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.
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:
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.
Below provided are important questions about personal loan IDBI Bank.
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.
The pre-closure charges are 2.00 percent + applicable taxes. But pre-closure after 6 months does not attract any charges.
The processing fee is 1% of the loan amount with applicable taxes.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of IDBI Bank.
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