About IDBI Personal Loan
What is a Personal Loan?
IDBI Personal Loan Eligibility
- Firstly the minimum age of the applicant should be 21 years
- Secondly, the earning of the applicant have to be 18000 Rs or more than that.
- After that, the applicant should have the work experience of 3 years at least.
- Applicant should be getting the salary in his/her bank account.
- The credit history of the applicant should be good.
- If the applicant is self-employed, then his/her age should be 25 years at least.
- He/she should be filing ITR for last three years at least.
- His/her CIBIL score should be 750
- The ITR should be of Rs. 2.5 Lakhs per annum at least.
IDBI Personal Loan Interest Rate
Where can you use IDBI Personal Loan?
- For wedding purposes.
- For educational purposes.
- Sometimes it can be for business purposes.
- Besides that, it can be related to agricultural activities.
- Sometimes people get a personal loan to pay their credit card bills or to pay the medical expenses.
- Home renovation can also be a reason to get a personal loan.
- Some people get a personal loan to go on vacations.
IDBI Personal Loan Documentation
- Identity Proof: Passport Copy/ Voters ID card/ Driving License/Adhaar card/PAN card.
- Address Proof: Ration card/ Tel, Electricity Bill/Adhaar card/PAN card Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate/the rental agreement
- Signature Proof: Passport Copy/Driving License/Banker’s verification/cheque
- Income Proof: ITR of Last three years for self-employed and salary slip of last six months for employed
- Two passport size photographs.
Amount of Loan
The loan tenure ranges between 1 to 5 years. All banks offer flexible loan tenures which implies that the applicant has the power to choose the repayment tenure which best suits his needs. Generally personal loan tenures range from 1 to 5 years
Why Should One Apply for IDBI Personal Loan online?
- Affordable interest rates starting at a minimum of 11.50% (T&C Apply)
- Variable interest rates charged are based on whether the collateral is provided or not.
- Provide personal loans to people who are employed in good corporate houses or are self-employed.
- A borrower can avail a minimum loan amount of Rs. 25,000 from IDBI.
- A person can club the income of their spouse or their parent to avail personal finance.
IDBI Personal Loan Features
- The loan is easy to access. You can apply online to get an IDBI bank personal loan.
- The process of application is very easy and simple.
- The documentation process is not that complex, it is very simple.
- Besides this, the rates of interest are quite affordable.
- Furthermore, there is no need of any collateral.
- No guarantor is required in a personal loan.
- Interest Rate: 11.25% to 19%
- Tenure: 12 months to 60 months
- Loan Amount: Rs. 50,000 to 10,00,000
- Prepayment/ Foreclosure charges:
- Prepayment/foreclosure of a Personal loan after six months of disbursals may be allowed without prepayment Charge.
- Prepayment/foreclosure if sought before six months from disbursal date, a charge @ 2% of the outstanding loan amount is to be levied.
Steps to apply
- First of all, visit www.dialabank.com on google
- After that, fill the application form for the personal loan.
- You will get a call back within 5 minutes, with proper guidance.
- If you are eligible, then your loan will get approved within 10 minutes.
Leading personal loan providers (Click to Apply)
- Axis Bank Personal Loan
- PNB Personal Loan
- SBI Personal Loan
- ICICI Bank Personal Loan
- Bandhan Bank Personal Loan
- Fullerton India Personal Loan
Table of Contents
- 1 About IDBI Personal Loan
- 1.1 What is a Personal Loan?
- 1.2 IDBI Personal Loan Eligibility
- 1.3 IDBI Personal Loan Interest Rate
- 1.4 Where can you use IDBI Personal Loan?
- 1.5 IDBI Personal Loan Documentation
- 1.6 Amount of Loan
- 1.7 Tenure
- 1.8 Why Should One Apply for IDBI Personal Loan online?
- 1.9 IDBI Personal Loan Features
- 1.10 Steps to apply
- 1.11 Leading personal loan providers (Click to Apply)