IDBI Personal Loan
GEM SAHAY Overview
IDBI Bank's GeM Sahay: Empowering MSMEs through Seamless Financing.
IDBI Bank's GeM Sahay is a digital lending solution designed to provide quick and hassle-free access to working capital for Micro, Small, and Medium Enterprises (MSMEs) selling their products and services on the Government e-Marketplace (GeM). This product leverages the power of digital technology and GeM data to offer pre-approved loan offers, simplifying the financing process for MSMEs.
Key Features and Benefits
- Quick and Digital Processing: Enjoy a streamlined loan application and disbursement process through our online platform.
- Pre-Approved Loan Offers: Based on your GeM transaction history, receive pre-approved loan offers, eliminating lengthy documentation.
- Collateral-Free Loans: Access working capital without the need for traditional collateral.
- Competitive Interest Rates: Benefit from competitive interest rates tailored to your business needs.
- Flexible Repayment Options: Choose repayment options that align with your cash flow.
- Enhanced Financial Inclusion: Expand your business opportunities by accessing timely and affordable credit.
- Data-Driven Decision Making: Leveraging GeM transaction data for faster and efficient credit assessment.
Eligibility Criteria
- MSMEs registered on the GeM portal.
- Satisfactory transaction history on GeM.
- Compliance with IDBI Bank's internal credit policies.
How to Apply
- Visit the GeM Sahay portal Click Here
- Authenticate using your GeM credentials.
- View your pre-approved loan offer.
- Complete the onne appcation process.
- Receive quick disbursement upon approval.
Required Documents (Subject to change based on specific cases)
- GeM Registration Certificate/ID
- Existing customer of IDBI Bank
Nodal Grievance Redressal
IDBI Bank is committed to providing excellent customer service. For any grievances related to the GeM Sahay product, please contact our Nodal Grievance Redressal Officer:
Shri Deepak Bhaskar Shejwal
Designation: DGM
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Tel Number
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Email deepak.shejwal@idbi.co.in -
Office Address
IDBI Towers, World Trade Center Complex, Cuffe Parade, Colaba, Mumbai Pin :400005, Maharashtra
For escalated grievances, customers may also contact the Banking Ombudsman as per the Reserve Bank of India's Integrated Ombudsman Scheme.
LSP (Loan Service Provider)
Present LSP Is GemSahay.
Data Policy Update
IDBI Bank is committed to protecting the privacy and security of your data. Our data policy outlines how we collect, use, and protect your information.
- We collect data necessary for processing your loan application and providing related services.
- We use your data to assess your creditworthiness, manage your loan account, and comply with regulatory requirements.
- We implement robust security measures to protect your data from unauthorized access and disclosure.
- We may share data with authorized third parties for specific purposes, such as credit bureaus or regulatory authorities, with your consent or as required by law.
- For detailed information please refer to our full data policy document available on our website.
Privacy Policy
IDBI Bank's Privacy Policy details our commitment to safeguarding your personal information.
- We collect personal information only for legitimate business purposes.
- We maintain strict confidentiality of your personal information.
- We provide you with choices regarding the collection and use of your personal information.
- We adhere to all applicable privacy laws and regulations.
- For detailed information please refer to our full Privacy Policy document available on our website.
Important Links
IDBI Bank is committed to protecting the privacy and security of your data. Our data policy outlines how we collect, use, and protect your information.
GeM Sahay Link- Click Here
Disclaimer
- Loan approval is subject to IDBI Bank's credit policies and discretion.
- Terms and conditions apply.
- Interest rates are subject to change.
- Information provided is subject to change. Please refer to the most updated version on the official IDBI bank website.
Personal Loan Overview
- IDBI Bank’s Personal Loan for instant sanctions and quick disbursements.
- The product can be availed through a simple user friendly digital journey with minimum documentation.
Features and Benefits
- Quick and hassle free
- Competitive Interest Rates
- Flexible loan tenure
- Easy to apply
Advantages
- Minimal documentation
- Customizable loan amount as per eligibility
- Online document execution
- User friendly online journey
Product brief
| Sr.no | Features | Details |
|---|---|---|
| 1. | Target clientele | All existing customers having salaried profile |
| 2. | Purpose of loan | All purposes except speculative and illegitimate purposes |
| 3. | Loan amount | Minimum: Rs.50000/-Maximum: Rs.5,00,000/- For loan amount more than Rs.3,00,000 , only sanction will be online and thereafter borrower has to visit the concerned branch for disbursement. |
| 4. | Loan Tenure | Minimum- 12 months Maximum – 60 months |
| 5. | Age | Minimum: 21 years Maximum: 55 years |
| 5. | Rate of Interest | 11% to 14.75% p.a (fixed rate) |
Nodal Grievance Redressal
- For grievance redressal, please visit our website and click on our customer care link
Information on Lending Service Providers (LSPs) and their DLAs, including the specific activities for which they have been engaged (if not self owned)-
- Bank is offering Instant Personal Loan through its own website.
Privacy Policy
- Please refer to the Bank’s privacy policy available on the website.
Important Links
Disclaimer
- Loan approval is subject to IDBI Bank's credit policies and discretion.
- Terms and conditions apply.
- Interest rates are subject to change.
- Information provided is subject to change
How To Apply
Get a Advantage Savings Plus Account in 3 easy steps.
01. Get In Touch
Call on our Phone Banking numbers Toll Free -
1800-209-4324
1800-22-1070 (24x7 service)
03. Receive a Call Back
Our representative will contact you at the earliest.