IDBI Personal Loan

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Why us?

Rates as low as 10.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

About IDBI Personal Loan

IDBI Bank is a leading financial institution in the country, operating for the past 40 years in the country. The bank was initially a financial institution and later converted into a banking institution on 1st October 2004. IDBI Bank was established in 1964 to provide financial facilities to the up-coming industries in the post-independent India. From 21st January 2019 RBI has classified the bank as a private bank. IDBI Bank continues to offer its services to industries as well as citizens ranging from loans for MSME to credit cards.

What is a Personal Loan?

A personal loan is a kind of loan that lets us borrow money from the bank at some rate of interest. You have to return this amount of loan to the bank within tenure. If you don’t do so your CIBIL score will get affected, and you won’t be able to get a personal loan in the future. Besides that, you can use this amount of loan according to your present personal financial need. Bank would not ask you the reason to get the personal loan.
Are you eligible for getting a IDBI Personal Loan from any financial institution? There are some Eligibility Criteria regulated by Banks to get a loan. You must be eligible if you want loan to meet your requirement. Check your Eligibility. Apply Online on Dialabank to get a personal loan quickly.

IDBI Personal Loan Eligibility

Not everyone can get a personal loan; there are some criteria based on them the bank provide a IDBI Personal Loan to the applicants. Let us discuss them.
There are two categories of applicants.
  1. Salaried
  2. Self-employed
There are different criteria for both categories to avail the loan. Let us take a look one by one.
Salaried Applicant 
  1.  Firstly the minimum age of the applicant should be  21 years
  2. Secondly, the earning of the applicant have to be 18000 Rs or more than that.
  3. After that, the applicant should have the work experience of 3 years at least.
  4.  Applicant should be getting the salary in his/her bank account.
  5. The credit history of the applicant should be good.
Self-employed Applicant
  1. If the applicant is self-employed, then his/her age should be 25 years at least.
  2. He/she should be filing ITR for last three years at least.
  3.  His/her CIBIL score should be 750
  4. The ITR should be of Rs. 2.5 Lakhs per annum at least.

IDBI Personal Loan Interest Rate

Rates of interest of a personal loan IDBI bank are very reasonable. It starts at 11.55% per annum and can be up to 19%. It all depends on the applicant income and the amount of loan applicant desires.

Where can you use IDBI Personal Loan?

IDBI Personal Loan

You can use IDBI Personal Loan amount to fulfil any of your personal need; it can be anything you are not supposed to tell the bank neither bank will ask you. There is some common reason to get a personal loan are given.
  1.  For wedding purposes.
  2. For educational purposes.
  3. Sometimes it can be for business purposes.
  4. Besides that, it can be related to agricultural activities.
  5. Sometimes people get a personal loan to pay their credit card bills or to pay the medical expenses.
  6. Home renovation can also be a reason to get a personal loan.
  7. Some people get a personal loan to go on vacations.
Things to check before you apply for a personal loan

IDBI Personal Loan Documentation

  1.  Identity Proof: Passport Copy/ Voters ID card/ Driving License/Adhaar card/PAN card.
  2.  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
  3.  Signature Proof: Passport Copy/Driving License/Banker’s verification/cheque
  4.  Income Proof: ITR of Last three years for self-employed and salary slip of last six months for employed
  5.  Two passport size photographs.

Amount of Loan

The amount of loan can be Rs. 50000 to Rs.10 Lakhs. It depends basically on your need and the income source of your income

Tenure

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?

IDBI is a leading financial provider in the country. They provide a large number of financial assistance products to the customers. One of the products offered by them is the personal loan, which an individual can avail in times of need for instant cash. The banks provide many benefits on personal loans for the customers:
  1. Affordable interest rates starting at a minimum of 11.50% (T&C Apply)
  2. Variable interest rates charged are based on whether the collateral is provided or not.
  3.  Provide personal loans to people who are employed in good corporate houses or are self-employed.
  4.  A borrower can avail a minimum loan amount of Rs. 25,000 from IDBI.
  5.  A person can club the income of their spouse or their parent to avail personal finance.

IDBI Personal Loan Features

  1. The loan is easy to access. You can apply online to get an IDBI bank personal loan.
  2. The process of application is very easy and simple.
  3. The documentation process is not that complex, it is very simple.
  4.  Besides this, the rates of interest are quite affordable.
  5.  Furthermore, there is no need of any collateral.
  6.  No guarantor is required in a personal loan.
  7.  Interest Rate: 11.25% to 19%
  8.  Tenure: 12 months to 60 months
  9.  Loan Amount: Rs. 50,000 to 10,00,000
  10.  Prepayment/ Foreclosure charges:
  11. Prepayment/foreclosure of a Personal loan after six months of disbursals may be allowed without prepayment Charge.
  12.  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

  1. First of all, visit www.dialabank.com on google
  2. After that, fill the application form for the personal loan.
  3. You will get a call back within 5 minutes, with proper guidance.
  4. If you are eligible, then your loan will get approved within 10 minutes.

Leading personal loan providers (Click to Apply)

  1. Axis Bank Personal Loan
  2. PNB Personal Loan
  3.  SBI Personal Loan
  4.  ICICI Bank Personal Loan
  5. Bandhan Bank Personal Loan
  6. Fullerton India Personal Loan
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