IDBI Bank Personal Loan Key Features
|Age||21 – 60 (at loan maturity)|
|CIBIL||Minimum 750 or above|
|IDBI Bank Personal Loan Interest Rate||9.99% per annum|
|Lowest EMI per lakh||Rs 2224|
|Tenure||up to 60 months|
|IDBI Bank Personal Loan Processing Fee||1% to 2%|
|Prepayment Charges||Allowed after 12 Months (2 – 4 %)|
|Part Payment Charges||Allowed after 12 Months (2 – 4 %)|
|Minimum Loan Amount||₹50,000|
|Maximum Loan Amount||₹ 20 Lakh|
Each Feature Explained in Detail Below
Benefits of IDBI Bank Personal Loan
- A loan without any collateral security: A Personal Loan is an unsecured loan. Banks don’t ask for any collateral security from the borrower. So, there is no need of mortgaging your assets for the finances. It is purely given as per the customer’s credentials.
- Simple Documentation: Personal Loans are hassle-free and easy. You can get it with minimum documentation and quick processing. Banks need some essential documents of the borrower like identity proof, address proof, income proof, etc.
- Loan Amount: The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.
- Quick Loan Approval: It is easily sanctioned within 48-72 hours without any hassle. After getting the documents, banks will do the verification of the given details, and the loan gets disbursed within 24 hours of confirmation.
- Multipurpose finance: Personal loans can be used for various purposes, i.e. in paying old bills, home renovation, wedding shopping, financing travel trips and many more.
- No Third-party involvement: The loan is directly sanctioned to the borrower without the interference of a third party. It is a strict relationship between the lender and the borrower.
- Hassle-free: Getting a personal loan is now a hassle-free process. Online loan portals have made it even more convenient and easy. You can get the loan amount in your account without stepping out of your home.
IDBI Bank Personal Loan Eligibility Criteria
The eligibility criteria for availing the personal loan are as follows:
|CIBIL score||750 +|
|Min Income||Rs 15000/month|
IDBI Bank Personal Loan Interest Rate, Fees & Other Charges
IDBI Bank Personal Loan Interest Rate
|9.99% per annum|
IDBI Bank Personal Loan Processing Charges
1% to 2% of the Loan Amt
Min ₹ 1000 and Max ₹ 25000
No prepayment is allowed until 12 EMIs are paid
No foreclosure is allowed until 12 EMIs are paid
13-24 months: 4% of loan principal outstanding
|25-36 months: 3% of loan principal outstanding|
|>36 months: 2% of loan principal outstanding|
As per state laws
Cheque Bounce Chgs
₹ 550/chq + GST
Floating Rate of Interest
Overdue EMI Interest
2% p.m.(on overdue amount)
Amortisation Schedule Chgs
Rs 200 + GST
IDBI Bank Personal Loan interest rates start at 9.99% per annum. Specific interest rates applicable to an applicant are dependent upon various factors including but not limited to credit score, loan amount, customer segment, and location.
|Type of IDBI Personal Loan||Interest Rate (p.a.)|
|IDBI Bank Fixed-Rate Personal Loan||9.99% onwards|
|Pension Account Overdraft (former IDBI Staff)||9.65% onwards|
|Salary/Pension Account Overdraft||12.40% onwards|
|Processing Fee||1% of loan amount + applicable taxes|
|Part Payment Charges||
|Penal Interest charges on overdue amount for the delayed period||4% p.a. on the overdue amount calculated on the overdue period|
IDBI Bank Personal Loan Documents Required
Duly filled application form
Proof of Identity
> Driving License
> Aadhar Card
> Voter ID Card
Proof of Address
Rent Agreement (Min. 1 year of stay)
Passport (Proof of permanent residence)
Proof of Income
> ITRs : Last two Assessment years
> Salary Slip: Last 6 months
> Bank Statement: Last 3 months
Documents Required for Salaried Applicants:
- Last three months salary slips
- Six months old bank statements are considered
- PAN Card is must
- Aadhaar Card is required as an identity proof
- Residence Proof (Owned/Rented/Company provided)
- Two passport-sized photographs
*NOTE: In case of rented apartments, rent agreement is to be attached.
Documents Required for Self-Employed Applicants:
- All financials are considered (company documents as well as ITR files)
- PAN Card
- Aadhaar Card
- Residence Proof
- Two passport-sized photographs
Personal Loan EMI Calculator for IDBI Bank
IDBI Bank Personal Loan Comparison with Other Banks
|Bank||Interest Rate||Tenure||Loan Amount & Proc Fee|
|IDBI Bank||9.99%||12 to 60 months||Up to Rs. 10lakh / Up to 1% of the loan amount|
|HDFC Bank||11.25% to 21.50%||12 to 60 months||Up to Rs. 40 lakh / Up to 2.50% of the loan amount|
|Bajaj Finserv||Starting from 12.99%||12 to 60 months||Up to Rs. 25 lakh / Up to 3.99% of the loan amount|
|Citibank||Starting from 10.99%||12 to 60 months||Up to Rs. 30 lakh / Up to 3% of the loan amount|
|ICICI Bank||11.50% to 19.25%||12 to 60 months||Upto Rs. 20 lakh / Up to 2.25% of the loan amount|
How to apply for IDBI Bank Personal Loan?
- Getting a personal loan is very easy; all you have to do is:
- visit Dialabank and fill the IDBI Personal Loan application form.
- After that, we will call you back with the best personal loan schemes.
- Our experts will guide you through the entire process.
Why should you apply for the IDBI Bank Personal Loan with Dialabank?
Dialabank helps you choose the best option of banks by providing you with the updated market comparison of various banks and make the right choice. We at Dialabank have already helped thousands of people to get the loan they need without any issue, and we look forward to continuing in doing so. Apply with us today to get the offers and exclusive deals on IDBI Bank Personal Loan.
Call us at 9878981166 to avail of IDBI Bank Personal Loan.
How to Calculate EMIs for IDBI Bank Personal Loan
You can easily calculate the EMIs on your loan; you just require the basic information regarding the loan –
- Amount of the Loan
- Rate of Interest
Just put these values in the calculator below to find the exact amount payable each month.
IDBI Bank Personal Loan Processing Time
IDBI Bank usually takes two weeks or 15 days when it comes to the Processing of Personal Loan Applications. However, IDBI Bank approves the loan in just a few hours to a maximum of 1-3 days to its pre-approved already existing account holders.
IDBI Bank Personal Loan Preclosure Charges
IDBI Bank gives you the option of pre-closing your loan after a period of a minimum of 12 months of taking the loan and paying 12 successful EMIs on your mortgage. However, IDBI Bank charges a Prepayment or Pre-closure charge; if you wish to do so we have listed the fees below:
|13 to 24 months||4%|
|25 to 36 months||5%|
|more than 36 months||2%|
Pre Calculated EMI for IDBI Bank Personal Loan
|Loan Amount (Rs.) and Interest Rate||
Monthly EMI Payout (Rs.)
|1-year loan tenure||2-year loan tenure||3-year loan tenure||4-year loan tenure||5-year loan tenure|
|2 lakh @ 12% p.a.||Rs. 17,770||Rs. 9,415||Rs. 6,643||Rs. 5,267||Rs. 4,449|
|5 lakh @ 13% p.a.||Rs. 44,659||Rs. 23,771||Rs. 16,847||Rs. 13,414||Rs. 11,377|
|10 lakh @ 14 % p.a.||Rs. 89,787||Rs. 48,013||Rs. 34,178||Rs. 27,326||Rs. 23,268|
Different Offers for IDBI Bank Personal Loan
1. Personal loan to Salaried Individuals, Self Employed Professionals (SEPs), Non-Professionals (SENP) & Pensioners: All salaried individuals, pensioners, self-employed professionals, and non-professionals can avail a personal loan from IDBI bank to meet their own financial needs including educational/medical expenses, household expenses, vacation, etc. For salaried and SEP/SENP, the personal loan amount can range between Rs. 50,000 to Rs. 10 lakh. Whereas, for pensioners, the loan amount can range between Rs. 25,000 to Rs. 5 lakh. Some features of the personal loan product are given below:
- The loan tenure can range between 12 months to 60 months
- Comes with the option of adding a top-up loan after 12 months of having an IDBI personal loan account and clear repayment track record
- Comes with free Personal Accident insurance cover
- Interest rates for this loan vary based on the credit vision score of the applicant as follows:
|Credit vision score||Payroll/Pension/Salary Accounts||All other salaried customers||Self Employed Professionals and non-Professionals|
|801 or above||12%||12.25%||13%|
|776 to 800||12.25%||12.50%||13.50%|
|740 to 755||13.25%||13.50%||14%|
|700 to 739 applicable only for corporate relationships: LIC and its subsidiaries staff, Payroll/Salary relationship, pension accounts, IDBI bank Staff)||13.50%||N.A.|
2. Pension Account with an in-built Overdraft facility to Pensioners of IDBI Bank Ltd.: Customers having a pension account with IDBI bank can avail of this facility. The maximum overdraft limit can go up to five times the monthly net pension. The product comes with the following features:
- The overdraft facility comes with a validity of 1 year and can be renewed every year
- The maximum age up to which a pensioner can avail this facility is 75 years
- The interest rate applicable in the case of different types of accounts is as follows:
|Type of Pension Account||Interest Rate (p.a.)|
|Pension Account with overdraft facility (for retired IDBI Staff)||9.99%|
|Pension Account with overdraft facility(for others)||12.40%|
3. Salary Account with in-built Overdraft facility: To avail the facility, a person must be a permanent employee with at least one year of continuous service for any of the following:
- Semi-Govt./Quasi Government organization
- Public or Pvt. Ltd Co.
- Reputed Institutions
- Multinational Co.
- Any corporate approved by CGM of the zone
The loan product comes with the following features:
- The overdraft facility comes with a validity of 2 years and can be renewed every two years.
- The overdraft limit can go up to five times the net salary (based on the previous six months’ average wage)
- The interest rate for this loan starts at 9.99% onwards.
IDBI Bank Personal Loan Balance Transfer
Personal Loan Balance Transfer refers to a process where you shift your loan from one lending institution to another. In this, your new bank pays off your previous loan and gives you credit. You get many benefits if you do this, but you may have to pay the foreclosure charges associated with that loan along with the Processing fee on your new credit. Some of the benefits are listed below –
- Lower Interest Rate
- Extended Tenure for the Repayment
- You may also get additional features associated with your loan, such as no processing fee, etc. based on your Cibil score.
IDBI Bank Personal Loan Top Up
Top up facility on your loan is the additional amount that you borrow from the bank on your existing mortgage. IDBI Bank lets you avail of this facility if you have paid at least nine regular EMIs without any hindrances in payment. You can get a top-up of min ₹50,000 and a maximum of your already sanctioned loan amount.
How to Apply Online for IDBI Bank Personal Loan?
You can apply for IDBI Bank Personal Loan online by visiting the IDBI Banks online portal and filling the form for applying for a personal loan, or you can simply follow the given steps for applying for an IDBI Bank Personal Loan –
- Visit DialaBank.
- Fill the Application form and submit it.
- Wait for an instant call from one of our Relationship Managers who are experts in this field.
- Get personalized service for availing Personal Loan by comparing the features of various banks and selecting the one which personalized according to your needs.
IDBI Bank Personal Loan Status
You can check the status of your IDBI Bank Personal Loan by the following methods –
- You can also visit your lender branch and ask the banker for the same.
- Log In to the IDBI Bank web portal, Click on loans from the top ribbon and click on Enquire to check your loan status.
- Enter your loan application number on IDBI Bank site and fill the required information to check the status of your loan by clicking on ‘Track’.
FAQs About IDBI Bank Personal Loan
✅ How to apply for IDBI Bank Personal Loan?
You can apply for a personal loan with IDBI Bank by visiting the nearest branch of IDBI Bank or by a simple form submission with Dialabank. With Dialabank, you get the convenience to apply from anywhere and get quick online approval.
✅ What is the Interest Rate for IDBI Bank Personal Loan?
The interest rate for IDBI Bank starts from 9.99% per annum for their personal loan products.
✅ What is the minimum age for getting a Personal Loan from IDBI Bank?
You must be at least 21 years old to apply for a personal loan with IDBI Bank.
✅ What is the maximum age for getting a Personal Loan from IDBI Bank?
The maximum age for availing a personal loan from IDBI Bank is 60 years.
✅ What is the minimum loan amount for IDBI Bank Personal Loan?
The minimum loan amount for availing a personal loan from IDBI Bank is Rs. 50,000.
✅ What is the maximum loan amount for IDBI Bank Personal Loan?
IDBI Bank lets you take a maximum loan amount of Rs. 20 lakhs under the personal loan scheme.
✅ What are the documents required for IDBI Bank Personal Loan?
You will need Aadhaar card/Voter ID, PAN card, salary slips/ITR, and two recently clicked photographs for a personal loan from IDBI Bank.
✅ What is the Processing Fee for IDBI Bank Personal Loan?
IDBI Bank charges a processing fee from 1% to 2% of the loan amount plus GST for the personal loan.
✅ How to get IDBI Bank Personal Loan for Self Employed?
IDBI Bank provides special offers for self-employed borrowers to aid them in their financial needs. You will have to show the ITR files of the last two years as your income proof.
✅ What is the Maximum Loan Tenure for IDBI Bank Personal Loan?
The maximum tenure duration for a personal loan from IDBI Bank is 60 months.
✅ What should be the CIBIL Score for IDBI Bank Personal Loan?
You should have a CIBIL score of at least 750 or above for availing a personal loan from IDBI Bank.
✅ Do I have a preapproved offer for IDBI Bank Personal Loan?
You can check out your preapproved personal loan offers from IDBI Bank through Dialabank. All you have to do is fill the form, and we will check all the offers for you and get back to you to help you choose the best one.
✅ How to calculate EMI for IDBI Bank Personal Loan?
You can use the EMI calculator available at Dialabank’s website to calculate your personal loan EMIs from IDBI Bank.
✅ How to pay IDBI Bank Personal Loan EMI?
Your personal loan EMIs from IDBI Bank are automatically deducted from your bank account on a monthly basis. You can also use the net-banking facility of IDBI Bank to pay for your personal loan.
✅ How to close IDBI Bank Personal Loan?
You will pay all the outstanding personal loan amount and then contact the IDBI Bank branch to receive your no dues certificate.
✅ How to check IDBI Bank Personal Loan Status?
You will need the visit the IDBI Bank branch to know the status of your personal loan. Alternatively, you can visit Dialabank and fill a simple form to let us do the hard work for you.
✅ How to close IDBI Bank Personal Loan Online?
Closing of a personal loan from IDBI Bank involves the following steps:
- Visit the net-banking page of IDBI Bank.
- Login with your details.
- Pay for your personal loan and save the transaction receipt.
✅ How to pay IDBI Bank Personal Loan EMI Online?
Your personal loan EMI can be paid using the net-banking facility of IDBI Bank. Dialabank lets you compare offers and deals from different banks to choose the best, low-EMI personal loan. All you have to do is fill a simple form, and we will do the rest for you.
✅ How to check Personal Loan Balance in IDBI Bank?
To check the personal loan balance in IDBI Bank, you will contact the customer care number of IDBI Bank. If you are looking for low-interest personal loans, you can visit Dialabank and fill a simple form for Personal Loan Balance Transfer, and we will do the hard work for you.
✅ How to download IDBI Bank Personal Loan Statement?
The personal loan statement of IDBI Bank can be downloaded IDBI Bank’s mobile banking app. You can visit the online platform of Dialabank and fill a simple form to compare and know about all the offers that we have for you.
✅ How to Top Up Personal Loan in IDBI Bank?
If you need a top-up on your personal loan from IDBI Bank, you will have to visit the bank branch and contact the loan officer. You can also fill a simple form with Dialabank at Personal Loan Top Up and leave the rest to us
✅ What happens if I don’t pay my IDBI Bank Personal Loan EMIs?
IDBI Bank may charge you with a penal interest if you don’t pay your personal loan EMIs. You can apply for a balance transfer using Dialabank to get low-interest personal loans that will not put a hole in your pocket.
✅ How to find the IDBI Bank Personal Loan account number?
You will need to contact your IDBI Bank loan branch to know your personal loan account number. You may also fill the form available at Dialabank and let us do all the work for you.