IDBI Personal Loan – A True Helper Under Challenging times

· personal loan

Whether you face financial difficulty or pay for a credit bill or something else, IDBI bank Personal loan could be a true helper in these hard times. It offers the loan amount with collateral; have a good loan amount to offer with competitive rates.  

However, like any other thing, it is essential to know the loan details before you apply. So, below, we would explore the details to help you in making a decision.  

IDBI Personal Loan 

IDBI Bank Personal loan comes with a flexible loan tenure with free personal accident insurance cover.  

  • IDBI offer loan amounts up to Rs 5 lakhs.  
  • IDBI Bank personal loan interest rate starts at 8.30% per annum.  
  • The loan tenure is up to 5 years.  
  • The processing fee is up to 1% of the loan amount, and the minimum is Rs 2500.  
  • The foreclosure charge is NIL.  
  • The lowest EMI is Rs 2,224 per lakh.  
  • The pre-closure charge is 2% of the loan amount. 
  • There is no need for a guarantor or collateral.  
  • The ideal credit score required is 700. 

Types of IDBI Bank Personal Loan 

IDBI Bank personal loan has to offers 3 types.  

  • Pension account overdraft( Former IDBI Staff) – 8.30% onwards P.A 
  • Fixed-rate personal loan 
  • Salary/Pension account overdraft  

IDBI Bank Personal Loan Features 

  • The IDBN Bank personal loan application process is easy and quick to complete.  
  • The loan tenure is quite flexible.  
  • The loan amount is enough to deal with an emergency.  
  • There is also free personal accident insurance cover.  
  • IDBI offer a top-up loan facility too.  

The Eligibility Criteria for IDBI Bank Personal Loan 

  • The borrower age should be from 21 years to 60 years.  
  • For a pensioner, the maximum age bar is 75 years.  
  • The minimum salary should be at least Rs 1,80,000 P.A for salaried individuals.  
  • For self-employed professionals, the income requirement is Rs 3, 60,000P.A 
  • The borrower should be working in a salaried or self-employed individual.  
  • You will be covered under free personal accident insurance policy.  
  • For the overdraft facility, the age should not exceed 75 years.    

The Documents Requirement for IDBI Bank Personal Loan 

The documents requirement is different for a salaried individual and self-employed professional.  

For salaried individuals 

  • Identity proof – Aadhar card, Voter ID Card, PAN card, Driving license 
  • Address proof – Leave and license agreement, utility bill, ration card, passport 
  • Income proof – Bank statement for the last 6 months, salary slips for the previous three months, form 16 , employment certificate  

For Self-employed professionals & individuals 

  • Proof of identity – A voter ID card, PAN card, Aadhar card, Driving license 
  • Proof of address – Rent agreement, Ration card, Utility bill 
  • Self-employed professional degree 
  • Financial statement – ITR for the last 2 years, P/L details,  
  • Bank statement for the last 3 months 
  • Proof of business continuation 
  • Form 16 

IDBI Bank personal loan EMI calculator 

If you want to know the EMI before applying, use the IDBI Bank personal loan EMI calculator. Open the calculator; enter the loan amount, interest rate and loan tenure. It will show the monthly EMI along with the total payable amount. It is available on free of cost.  

How to apply for IDBI personal loan?  

To apply for IDBI Bank personal loan, visit Here sign up, fill out the loan application and upload the documents. Then, a representative will contact you with further details. As you can see, the process is easy.  


As we can see, the details for IDBI Bank personal loan is attractive. The interest rate is competitive, and the charges are low. Indeed, it is a great deal you could get.Pers

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