IDBI Bank Personal Loan

Features:

·         This loan is designed to meet various personal requirements of salaried individual.

·         Loan amount available varies between Minimum Rs 25000 & Maximum Rs 500000

·         Loan repayment period varies from 12 to 36 months

Eligibility:

·         For salaried individual minimum net salary varies from Rs 15000 & Maximum Rs 25000 per month

Charges:

·         Loan processing charges: 2.25% of the loan amount.

·         Documentation charges: For loan Upto 1 lakh is Rs 850, for loan above 1 lakh up to 2 lakh is Rs 1100, Above 2 lakh to 3 lakh is Rs 1400 And above Rs 3 lakh it is Rs 1650.

·         Preclosure Interest: If the loan is prepaid within 6 months of disbursal it increases the interest rate by 6% as preclosure charges on the outstanding loan.

·         Duplicate Certificate or Interest Paid Certificate is Rs 150.

·         Duplicate statement costs around Rs 115.

Interest Rates:

·         With collateral security interest rate 13% p.a(fixed).Here collateral means govt. securities, public sector bonds, units of UTI,NSC,KVP,LIC policy (surrender value),fixed deposit.

·         Without collateral security interest rates is 15%p.a. (fixed).

Salaried Individuals

• Application form with recent photograph
• Latest salary slip and Form 16
• Bank statement for last 3 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

• Application form with recent photograph
• IT returns for last 2 years
• Bank statement for last 6 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
• P&L and Balance Sheet for last 2 years certified/audited by CA