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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 and Self Employed Professionals (SEPs)

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

The IDBI Bank Personal Loan Features -

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

Sr No.

Feature

Salaried Customers maintaining salary account with IDBI Bank including pensioners of IDBI Bank. (retired staff of IDBI Bank only)

Self employed Professionals & Salaried customers (not maintaining salary account with IDBI Bank) having liability relationship with IDBI Bank.

Self employed Professionals & Salaried individuals who have availed of Home Loan (HL) / Loan Against Property (LAP) from the IDBI Bank. (only full disbursed cases)

1.

Eligibility

Yes

Salaried: Existing customers having liability relationship i.e. savings / current account for more than one year with minimum AAB of Rs.20,000/- and minimum net income Rs.1,80,000 p.a.
SEPs: Existing customers having liability relationship i.e. savings / current account for more than one year with minimum AAB of Rs.25,000/-and  Minimum Annual Business Income of Rs. 2,40,000/-  p.a. for last two FY.

Yes

2

Minimum Net Salary/ Income

Minimum Monthly Net Adjusted Salary to be Rs. 15,000 or more

Salaried: Minimum Monthly Net Income to be Rs. 15,000/-.
SEPs having satisfactory liability relationship with IDBI Bank
Minimum Annual Business Income of Rs. 2,40,000/-  p.a. for last two FY.

Salaried: Minimum Net Monthly Income of Rs.15000/-.
SEPs: Minimum Annual Business Income of Rs. 2,40,000/-  p.a. for last two FY.

3.

Age

Minimum age :   22 Years.
Maximum age at termination of loan should not be above 60 years or date of retirement, whichever is earlier.

4.

Tenor

Minimum : 12 Months
Maximum : 60 Months

5

Maximum Loan Amount

Minimum: Rs.50,000/-
Maximum:
Rs. 10,00,000/-

Minimum:- Rs.50,000/-
Maximum :- Rs. 5,00,000/-.

Salaried :-
Minimum:- Rs.50,000/-
Maximum:- Rs.10,00,000/-

SEPs:
Minimum:- Rs.50,000/-
Maximum:- Rs.5,00,000/-

6

Repayment Norms

In the form of Standing Instruction (SI) only.

7.

Prepayment / foreclosure charges

Prepayment / foreclosure of Personal loan after six months of disbursals may be allowed without pre payment Charge.
Prepayment / foreclosure if sought before 6 months from disbursal date, a charge @ 2% of the outstanding loan amount is to be levied.

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 be extended to retired employees of IDBI Bank Ltd.

2

Age

Minimum Age – 21 years
Maximum Age – 58 years

Should not exceed 70 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.


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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