IDBI Bank Personal Loan Interest Rates

The following are the features-

• For salaried and SEP borrowers, the minimum and maximum loan amounts are Rs. 25,000 and Rs. 5 lakhs, respectively.
• Existing borrowers may apply for a top-up loan. They should have had the loan for at least 12 months to qualify for this. They must also pay their debts promptly.
• The minimum and maximum borrowing amounts for retirees are Rs. 25,000 and Rs. 3 lakhs, respectively.
• The tenure ranges from a period of 12 - 60 months.
• Starting at 13.59%, the interest rate is fixed.
• The processing cost is 1% of the accepted loan amount plus taxes, with an Rs. 2,500 minimum.

Following are the types of IDBI Personal Loan Schemes-

• Personal loan for salaried personnel of state/central government/PSUs/Departments/MNCs/Listed Companies/Private Limited Companies with or without a partnership with IDBI bank.
• Loan Amount: 25,000 to 5 lakh rupees
• 1 to 5 years tenure
• Processing Fee: 1% of loan amount with a minimum of Rs 2,500 + taxes

• Own loans for self-employed candidates to satisfy their personal needs. This loan is exclusively offered to self-employed professionals who have assets and liabilities with IDBI Bank.
• Loan The amount is between Rs 25,000 and Rs 5 lakh.
• Part-payment: 10% of the outstanding loan amount, with a minimum of Rs 10,000.
• Foreclosure fees: 2% of the outstanding loan amount if the foreclosure occurs within 12 months of the disbursement date.
• 1 to 5 years tenure
• Processing Fee: 1% of loan amount with a minimum of Rs 2,500 + taxes
• If sought after 12 months but before 24 months, the fee is 1% of the outstanding loan amount.

Existing IDBI Bank personal loan clients with a 12-month clear repayment history are eligible.

• Pension loan with overdraft capability for retirees with an IDBI Bank pension account.
• Part-payment: 10% of the outstanding loan amount, with a minimum of Rs 10,000.
• Foreclosure fees: 2% of the outstanding loan amount if sought within 12 months of the disbursement date.
• Loan 25,000 to 3 lakh rupees
• 1 to 5 years tenure
• Processing fee: 1% of loan amount plus taxes (minimum Rs 2,500).
• 1% of the outstanding loan amount after 12 months and before 24 months
• Top-up Loan: Available to loan account holders with at least 12 months of payback history.

Here is the table to show the IDBI Bank personal loan rate of interest-

Personal loans are available from the bank to salaried individuals, retirees, and self-employed professionals (SEPs). All of the following people are eligible to apply-

• Salaried people who have corporate salary accounts at the bank.
• Customers who have pension accounts with the bank.
• Self-employed professionals with bank liability/asset linkages
• Confirmed or permanent personnel of Central/PSU/State Departments, listed firms, international corporations, and reputable private limited enterprises who do not or do not have existing contact with the bank.

• Completed application form and passport-size pictures
• A photocopy of your Aadhaar/PAN/Voter ID/Passport/Driving License, etc.
• Proof of Residence: A copy of your most recent Electricity Bill (no older than three months) / Passport / Ration Card
• Proof of Income: Which is a copy of your last six months' salary, account, and bank statements.
• Salary slips for the previous three months
• Form 16 Employment Certificate from your employer / accepted Income Tax Returns for the previous two years.
• IDBI bank may request further documentation.