IDBI Bank Personal Loan

Whether you are a salaried individual, self-employed, or pensioner, you can avail hassle-free personal loan from IDBI Bank for any of your expenses. It provides up to Rs. 5 Lakhs for personal needs like medical emergencies, weddings, home renovation, child's education, etc. With an interest rate starting from 11.00% p.a., IDBI Bank personal loan comes with easy repayment tenure of 5 years. 

Please note that these charges are subjected to changes, and you should always discuss with the lender before applying for a loan.

IDBI Bank offers personal loans at attractive rates, minimum processing charges and flexible repayment tenures. However, the interest rates vary with various aspects like preferred loan amount, loan tenure, salary, employment type, credit score, etc. 

This bank offers personal loans with a loan amount ranging between Rs. 25,000 to Rs. 5 Lakhs. Depending on the loan amount, applicant’s profile and other aspects, the interest rates can be different. 

So, please check interest rates with the bank before applying for a personal loan. 

There are some attractive features of personal loans provided by IDBI Bank that can be beneficial to the borrowers. Such as:

• Flexible repayment: You can repay the borrowed amount from IDBI Bank via monthly instalments in a flexible tenure. You can choose the tenure as per your capability over a maximum time of 5 years. You can also opt for an overdraft facility with salary account.

• Comparatively lower interest rate: The interest rate starts from 11% p.a., which is quite lower compared to other lenders. 

• Simple documentation and quick processing: It takes up to 7 days to process the loan, and the process involves very minimal documentation. Just after submitting the income proof, address proof, and ID, the bank starts processing the loan. 

• Covers various financial needs: You can avail personal loan from IDBI Bank for many personal needs. You can get the following Loans:

1. Marriage Loan

2. Travel Loan

3. Home Renovation loan

4. Medical Emergency Loan

5. Education Loan

6. Loan for Land Purchase

The documents required for applying for personal loan in this bank are as followed: 

• Filled application form with passport-size photographs attached 

• Any of your photo ID proof: A copy of your Aadhaar card/ Voter card/ PAN card/ driving licence/passport 

• A copy of bank statements of salary account for the past six months as an income proof 

• Address proof: A copy of your Passport/Ration Card/ Electric Bill(not more than 3 months old) 

• Employment certificate from your employer 

• Salary slips from the last 3 months 

• Acknowledged Income Tax Returns for the last 2 years 

In order to apply for personal loan in this bank, you need to follow these steps given: 

• Step 1: Open the official website of IDBI Bank.

• Step 2: Go to the “ Loans” section and choose “Personal Loan”.

• Step 3: Click on “Apply Now” .

• Step 4: Fill in the required fields in the loan application form.

• Step 5: Enter OTP.

• Step 6: After filling in the information, click on "Submit" .

• Step 7: Submit all relevant documents and wait for the bank representative to contact you. 

*You can also apply for loans by visiting the nearest branch of IDBI Bank or by calling the customer care phone number. 

IDBI Bank provides 24X 7 customer care service for its customers. You can call on their toll-free customer care number 1800-209-4324 for any of your loan-related queries whenever you want.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.