Personal Loan Rates | IDBI Bank Personal Loans

Sr No.

Feature

1. Salaried/Pensioner:

1. Self Employed Professional/ Non 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/Non 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

For SENP Borrower :-
Minimum Annual Business Income of Rs 5,00,000/- 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/SENP
Minimum: Rs 50,000/-
Maximum: Rs 10,00,000/-

Pensioner:
Minimum: Rs 25,000/-
Maximum: Rs 5,00,000/-

7.

Prepayment / foreclosure charges

a) Prepayment / foreclosure of Personal loan after six months of disbursals may be allowed without pre payment Charge.
b) Prepayment / foreclosure if sought before 6 months from disbursal date, a charge @ 2% of the outstanding loan amount is to be levied.
Part pre-payment : Part pre-payment is allowed on the basis of above conditions (a&b). However, in such cases, no further personal loan will be sanctioned to the borrower for 12 months from the date of making the part pre-payment.

8.

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.

9.

Insurance

The borrowers will be covered under Free Personal Accident insurance cover.