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Personal Loan - IDBI Bank Personal Loans

Home > Loan > Personal Loan

Personal Loan Rates | IDBI Bank Personal Loans


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 / Loan Against Property.

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

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

The IDBI Bank Personal Loan Features -


Personal loan to Salaried Individuals, Pensioners & Self Employed Professionals (SEPs) :

Sr No. Feature

Salaried / Pensioners Customers maintaining salary / Pension account with IDBI Bank .

 Salaried customers & Self employed Professionals(with or without existing liability relationship with IDBI Bank)  

Salaried individuals & Self employed Professionals having Asset relationship

1.

Eligibility

All IDBI salaried customers maintaining salary account with IDBI Bank, including Pensioners/ Family Pensioners from State or Central Government Departments, PSU companies and State or Central Government promoted/ sponsored entities or undertaking whose pension is credited to SB account with IDBI Bank (retired staff of IDBI Bank is also included

  • In case of Confirmed employees from departments and institutions promoted/ sponsored by State & Central government, the three Armed Services : with or without existing relationship but satisfying the minimum income norms as specified below.

  • In case of all other category confirmed employees having liability relationship with IDBI Bank for more than one year and Self employed Professionals (SEPs) having liability relationship with IDBI Bank for more than one year and satisfying the minimum income norms as specified below.
Only full disbursed cases having paid minimum 6 EMIs  and having total clean repayment track record

2

Minimum Net Salary/ Income

For Salaried class :-
Minimum Annual Average Balance (AAB) of Rs. 20,000/-
(not applicable to salaried customers maintaining salary account with IDBI Bank or customers maintaining pension account with IDBI Bank) and Minimum Annual Net Income (ANI) of Rs. 1,80,000/-.


For SEP class :-

Minimum Annual Average Balance (AAB) of Rs.   25,000/- and Minimum Annual Business Income of Rs.  2,40,000/- for last 2 FY.

3.

Age

Salaried/ Self Employed and Professionals :
Minimum age : 22 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

a) For Salaried class :-
Minimum: Rs.50,000/-
Maximum: Rs. 10,00,000/-

b) Pensioners drawing pension/ Family Pension through IDBI Bank :
Minimum loan amount : Rs. 25,000/-
Maximum loan amount: Rs. 5,00,000/- subject to EMI not exceeding 50% of last credited pension amount.
Minimum:- Rs.50,000/-
Maximum :-
a) For customers non maintaining salary account with IDBI Bank
Rs. 5,00,000/-
b)For confirmed employees from departments and institutions promoted / sponsored by State & Central government, the three Armed Services with or without existing relationship)
Rs.10,00,000

Minimum:-
Salaried & SEPs :-

Rs.50,000/-

Maximum:-
Salaried :- Rs.10,00,000/-
SEPs:
Rs.5,00,000/-

6

Repayment Norms

In the form of Standing Instruction (SI) only.

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.

 

 

Other Personal Loan products are as follows:


Sr. No Criteria

b) Salary Account with
in- built overdraft facility

c) 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
  • Any Corporate approved by CGM of the Zone
This facility is extended to customers maintaining their pension account with IDBI Bank Ltd.
2

Age

Minimum Age – 22 years
Maximum Age – 58 years

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.




How to Apply

For applying online, please Click here.

Applying for “IDBI Bank Personal Loan” is absolutely simple. Just call our Phone Banking numbers or visit our nearest Retail Asset Centre/Branch. Our representative will contact you at the earliest.



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