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IDBI Bank Personal Loan
IDBI Bank personal loan has become one of the most popular choices in the current market because of its minimal processing fee. With reasonable paperwork requirements, attractive interest rates, and flexible repayment alternatives, IDBI Bank offers personal loans to consumers. Customers can apply for an IDBI personal loan online through Urban Money. For the convenience of its clients, the bank also offers doorstep loan disbursal service.
Unlock Best Personal Loan Offers From Idbi Bank
IDBI Bank Personal Loan
Interest Rate
11% - 15.5%
Loan Amount
₹25K - ₹5L
EMI Per Lakh
₹2,174 - ₹2,405
Processing Fees
Pre-Payment Charges
--Features and Benefits of IDBI Bank Personal Loan
IDBI Bank personal loans have the following features and benefits.
- Pensioners, government workers, and salaried staff who maintain a salary account with IDBI Bank are all eligible for personal loans tailored to their needs.
- On decreasing balances, interest is assessed at a predetermined rate. It is charged to the loan account once a month, at the end of the month.
- The flexibility of IDBI Bank personal loans is a huge benefit. The borrowed money can be used to pay for a wedding, travel, education, and medical expenditures, as well as to buy jewellery and other items like electronics. Simply said, it’s a quick solution for you to get out of the current financial bind you’re in.
- Personal loans have reasonable interest rates, making them accessible to all borrowers. This guarantees that your EMI will remain constant for the duration of your loan.
- Only a small amount of documents are needed to have a personal loan approved. Processing is quicker as a result.
IDBI Bank Personal Loan Overview
IDBI Bank is one of the oldest banks in India. This bank was initially a division of the Reserve Bank of India (RBI) before being given to the Indian government. The bank offers various products and services to provide its customers with the best banking experience. A borrower may avail of IDBI Bank personal loan depending on their qualifications and needs. Because of the lower IDBI Bank personal loan interest rate and bigger loan amounts, the bank’s personal loans are among those that are viewed favourably by the market. To qualify for the benefits of these personal loans, the applicant must satisfy all of the bank’s eligibility requirements.
Documents required for IDBI Bank Personal Loan
The following is the list of the documents required for IDBI Bank personal loan:
- Signed application form with photograph
- Copy of passport/voter ID card/driving license
- Fee processing cheque
- Last 3 months bank statement/6 months bank passbook
- Recent salary slip and current dated salary certificate with the latest Form 16 in the case of salaried applicants
- Latest Bank statement and latest ITR or Form 16 in the case of self-employed applicants
How does the EMI calculation work for IDBI Bank personal loans?
To determine the monthly EMIs for the personal loan, use one of the many EMI calculators that are online. The calculator accurately calculates the user’s results by accounting for the principal amount, interest rate, and tenure.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
- ‘P’ stands for the Principal amount
- ‘R’ stands for the rate of interest
- ‘N’ stands for the tenure
How does IDBI Bank compare with other lenders?
A table has been drawn comparing the IDBI Bank personal loans with other banks based on their interest rate.
Banks/NBFCs | Interest Rates (p.a.) |
IDBI Bank | 10.25% – 15.50% |
HDFC Bank | 11.00% onwards |
State Bank of India | 10.65%-15.15% |
ICICI Bank | 10.75% onwards |
Axis Bank | 10.49% onwards |
Kotak Mahindra Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% onwards |
Bajaj Finserv | 11.00% onwards |
Tata Capital | 10.99% onwards |
IDBI Bank Personal Loan Customer Care Number
The customer care toll-free number for IDBI Bank personal loan are mentioned are – 1800-209-4324 and 1800-22-1070 (24×7 service).
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Idbi Bank Personal Loan Quick Links
FAQs
From refinancing to reducing your interest, we have the answers right here.
What is the interest rate of a personal Loan in IDBI Bank?
IDBI Bank personal loan interest rate ranges from 10.25% to 13.00%.
What are the benefits IDBI Bank Provides on Personal Loan?
One of the major benefits of the IDBI Bank personal loan is that the interest rate of the bank is competitive. For more features and benefits, read our guide above.
Does IDBI Bank have a fixed rate of interest on a Personal Loan?
IDBI Bank offers both floating and fixed rates of interest on a personal loan.
What are the documents required in IDBI Bank for a Personal Loan?
An applicant must submit basic documents required for KYC like proof of identity, residence, income, and photographs. For a clear view of the documents required for IDBI Bank personal loan, read our guide.
How to apply for a personal Loan in IDBI Bank online?
To apply for a personal Loan in IDBI Bank online, an applicant needs to visit the official website of the bank.
How to check personal Loan Status in IDBI Bank?
A borrower will be required to log in to their account with the IDBI Bank or visit the bank’s branch to check their personal loan status.
Does IDBI Bank Check for CIBIL Score for Personal Loans?
Yes, IDBI Bank checks for CIBIL score for a personal loan.
What is the maximum and minimum personal Loan amount I can get from IDBI Bank?
A customer can get a personal loan of up to INR 5 lakhs.
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Personal Loan By Banks
- Bank of Baroda Personal Loan
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- MoneyWide Personal Loan
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- Shriram Urban Co Operative Bank Limited Personal Loan
- Tata Capital Housing Finance Limited Personal Loan
- HDFC Sales Personal Loan
- Indian bank Personal Loan
- Capital First Ltd. Personal Loan
- Poonawalla Fincorp Limited Personal Loan
- Tata Capital Financial Services LTD Personal Loan
- Clix Capital Personal Loan
- Aditya Birla Finance Limited Personal Loan
- L&T Finance Personal Loan
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- AU Small Finance Bank Personal Loan
- karur Vysya Bank Personal Loan
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- FT Cash Personal Loan
- Loantap Credit Products Private Limited Personal Loan
- Privo Personal Loan
- Prefr Personal Loan
- CASHe Personal Loan
- Deutsche Bank Personal Loan
Idbi Bank Quick Links
- IDBI Home Loan EMI Calculator
- IDBI Loan Against Property (LAP) Calculator
- IDBI FD (Fixed Deposit) Calculator
- IDBI RD (Recurring Deposit) Calculator
- IDBI PPF (Public Provident Fund) Calculator
- IDBI Business Loan Calculator
- Idbi Bank Home Loan
- Idbi Bank Loan Against Property
- Idbi Bank Business Loan
- Idbi Bank Ifsc Code
Bank Wise Home Loan Eligibility Calculator
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- ICICI Home Loan Eligibility Calculator
- LIC Home Loan Eligibility Calculator
- PNB Home Loan Eligibility Calculator
- Canara Bank Home Loan Eligibility Calculator
- Bank of Baroda Home Loan Eligibility Calculator
- Bank of India Home Loan Eligibility Calculator
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