Personal Loan Rates | IDBI Bank Personal Loans

Sr No.

Feature

1. Salaried/Pensioner:

1. Self Employed Professional

1.

Eligibility

1. All salaried/Pensioner customer having corporate salary account /Pension account with IDBI Bank.
2. All Confirmed/permanent employees of State/ Central/ PSU/ Departments, Multi National Companies, Listed Companies, Reputed Pvt Ltd Companies with or without existing relationship with IDBI Bank.

Self Employed Professional having Asset/Liability relationship with IDBI Bank.

2

Minimum Net Salary/ Income

For Salaried class :-
Minimum Annual Net Income (ANI) of Rs. 1,80,000/- p.a
For SEP Borrower :-
Minimum Annual Business Income of Rs.  3,60,000/- p.a

3.

Age

Salaried/ Self Employed and Professionals:
Minimum age : 21 Years.
Maximum age at termination of loan should not be above 60 years or date of retirement, whichever is earlier.
Pensioners/ Family Pensioners:
Maximum age : 75 years (at the date of maturity of loan amount)

4.

Tenor

Minimum : 12 Months
Maximum : 60 Months

5

Maximum Loan Amount

For Salaried & SEP
Minimum: Rs 25,000/-
Maximum: Rs 5,00,000/-
Pensioner:
Minimum: Rs 25,000/-
Maximum: Rs 3,00,000/-

6.

Prepayment / foreclosure charges

Pre-Payment /Foreclosure:

1. Prepayment/ foreclosure of Personal Loan after 24 months of disbursal date allowed without pre-payment charges as per the Sanction Terms.
2. Prepayment/ foreclosure if sought before 12 months from disbursement date, a charge @ 2% of the outstanding loan amount is to be levied.
3. Prepayment/ foreclosure if sought after 12 months but before 24 months from disbursement date, a charge @ 1% of the outstanding loan amount is to be levied.

Part payment:

1. Part payment allowed without charges after 6 months of disbursement.
2. Maximum part payment amount is 10% of the outstanding loan amount subject to minimum of Rs. 10,000/-. Part payment allowed maximum 3 times in year with an interval of 90 days.
3. Part payment within six months from disbursement: 2% of the outstanding loan amount + applicable taxes.

7.

Top up loan

The existing loan account holders with minimum 12 months and with clear repayment track record will be eligible for top up loan facility.