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Personal Loan - IDBI Bank Personal Loans Apply Now

Home > Loan > Personal Loan

Personal Loan Rates | IDBI Bank Personal Loans


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To meet unexpected financial exigencies or come out of high priced Credit Cards funds, you can avail IDBI Bank’s Personal Loan. Be it a marriage in family, renovation of house, meeting urgent educational / hospitalization expenses or travel abroad. At times, Personal Loan comes handy while arranging for Earnest Money to apply for a Plot / House, or to manage Margin Money funding to avail of a Home Loan / Construction Loan.

Personal Loan from IDBI Bank is targeted to the Salaried Individuals, Self Employed Professionals (SEPs) & Pensioners

Following are the variants of Personal Loan:
    BulletPersonal loan to Salaried Individuals, Self Employed Professionals (SEPs) & Pensioners
    Bullet Salary Account with In-built Overdraft facility
    Bullet Pension Account with in-built Overdraft facility to Pensioners of IDBI Bank Ltd

The IDBI Bank Personal Loan Features -


Personal Loan from IDBI Bank is targeted to the Salaried Individuals , Self Employed Professionals (SEPs) & Pensioners

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.

 

 

Other Personal Loan products are as follows:


Sr. No

Criteria

 Salary Account with
in- built overdraft facility

Overdraft facility for Pensioners of IDBI Bank Ltd

1

Eligibility

Permanent Employee, with a minimum one year of continuous service of the below mentioned Organizations /Companies :

  • Govt./Semi-Govt./Quasi Govt.
  • Public Ltd Co.
  • Private Ltd Co.
  • Multinational Co.
  • Reputed Institutions

This facility is extended to customers maintaining their pension account with IDBI Bank Ltd.

 

 

2

Age

Minimum Age- 22 years
Maximum Age - 65 yrs. at loan maturity or retirement age whichever is earlier.
(Employee should have a minimum residual service of at least 1 year).

Should not exceed 75 years.

3

Categories

Salaried customers maintaining salary accounts with IDBI Bank

NA

4

Tenor

The overdraft facility would be valid for 2 years; renewable every two years.

The overdraft facility would be valid for 1 year; renewable every year.

5

Maximum Limit

Five times of net salary (based on previous six months average salary)

To be computed at five times the monthly net pension.


Note:- Third- party Guarantee required for Personal Loans to Pensioners

Rate of interest:   Click here for latest rate of interest.



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