IDBI Bank Personal Loan
With affordable interest rates and adjustable repayment terms, IDBI Bank offers personal loans. There is little to no paperwork required in order to obtain a loan. IDBI Bank with interest rates starting at 11.0% - 15.50%. A maximum loan of Rs. 25,000 to 5 Lakhs with a maximum 1 to 5 year repayment period is available to you.
The personal loans offered by IDBI Bankhave low interest rates and flexible payback schedules. A loan can be obtained with little to no paperwork. Interest rates on personal loans from IDBI Bank start at 10.49%, making them a great option for any of your urgent financial requirements. You may be eligible for a loan with a maximum amount of Rs 20,000 to Rs 1 crore and a maximum payback term of 6 months to 5 years.
| Interest Rate | 11.0% - 15.50% | |
|---|---|---|
| Maximum Loan | Rs. 25,000 to 5 Lakhs | |
| Processing Fees | 1 % | |
| Maximum Loan Tenure | 1 to 5 year | |
Loan Disbursal in 3 hrs*
100% Online ProcessA Four-Step Guide to Efficient Financing
IDBI Bank Personal Loan EMI Calculator
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Documents Required for IDBI Bank Personal Loan
IDBI Bank Personal Loan documents required for applying :
The loan application is finished
Three passport-size photos
Identification documents with photos, such as a voter ID card, passport, driver's licence, or IT PAN card
A photocopy of a recent phone bill or an electricity bill is proof of residence.
Passbook and Account Statements for the Previous Six Months
For the past two fiscal years, salaried employees' Form 16/IT returns
IT returns over the past three years for independent contractors
Whether you earn a salary, are self-employed, or are retired, IDBI Bank loans offer hassle-free personal loans for any of your requirements. It offers up to Rs. 5 lakhs for a range of personal expenses, including weddings, house renovations, child's education, and other unforeseen expenses. IDBI Bank offers personal loans with an easy 5-year repayment period and interest rates starting at 11% pa.
Feature and Benefits of IDBI Bank Personal Loan
Following are the feature and benefit of IDBI Personal Loan :
Attractive Interest Rates: The IDBI Personal Loan has an interest rate that ranges from 10.50% to 13.25% annually.
Flexible Options for Repayment: The borrower has up to 60 months to repay the loan in equal monthly installments. You can select the duration based on your ability to make timely payments.
Easy Documentation : Just give the bank your ID, address, and income documentation to complete the loan verification procedure. The bank verifies your details using the paperwork before approving your loan.
Fast Processing and Disbursement: The processing of your loan could take up to 7 days, after which the money will be sent into your account. Furthermore, the procedure calls for the submission of documents and the payment of processing charges, among other things.
Process of applying IDBI Bank Personal Loan
These are the steps you must take in order to IDBI Bank Personal Loan apply online :
Step 1: Start by visiting IDBI Bank's official website.
Step 2: select "Personal Loan" under "Loans" in the menu.
Step 3: Activate "Apply Now" .
Step 4 :Fill out the loan application form's mandatory fields.
Step 5: Input OTP .
Step 6: Click "Submit" once you've finished entering the data.
Step 7: Submit all necessary paperwork and watch for a call from a bank representative.
*You can also telephone the IDBI Bank customer service line or go to the nearest branch for IDBI bank loan apply.
FinCrif Frequently Asked Questions ( FAQ )
What are the limits on my loans?
ANS. Your income and ability to repay the loan would decide your personal loan limit.
Can the amount of the loan be calculated using my spouse's income?
ANS. Yes, as long as your spouse guarantees the loan or the loan is taken jointly, their income may be included.
Do I need to provide security of any kind?
ANS. Security is unnecessary.
Enjoy the Convenience of Doorstep Services: If you have any questions or concerns about a personal loan, you may ask a bank executive to visit your home or place of business and address them right away.
Eligibility Criteria for IDBI Bank Personal Loan
Here are the IDBI Bank Personal Loan eligibility:
Between the ages of 21 and 60. Pensioners must be at least 75 years old.
Paid: Rs. 1.8 lakh per year.
Self-employed: Rs. 3.6 lakh per annum.
The minimum and maximum loan amounts are Rs. 25,000 and Rs. 5 lakh, respectively.
Here, 60 months is the longest loan term that is possible.
The option to obtain a Top-Up Loan will be available to consumers after 12 consecutive months of unbroken loan payments.
Fees and Charges of IDBI Bank Personal Loan
| Type of Charge | Quantum |
| Processing fee |
|
| Part prepayment charges | 0% to 2% of the amount to be prepaid |
| Foreclosure charges | 0% to 2% of the outstanding balance |
| Penal Interest charges | 4% p.a. on the overdue amount & overdue period |
