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IDBI Bank Personal Loan

IDBI Bank Personal Loan

 

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Member's Recomendation

6   1

3 review(s)
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  • Maximum Loan Amount
  • Rs. 10 lakh
  • Minimum Loan Amount
  • Rs. 10 lakh limit
  • Interest Rate(Max)
  • 16 %
  • Interest Rate(Min)
  • 13 %
  • Interest Type
  • Late Payment Fee
  • Processing Fees
  • 1.5 %
  • Prepayment Charges
  • Upto 6 %
  • Repayment Period (Max)
  • 5 year(s)
  • Repayment Period (Min)
  • 1 year(s)

Features and Benefits of 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).

Documents Required for IDBI Bank Personal Loan

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

User Reviews

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IDBI personal loans have lot of paperwork and formalities.

By: Akshay, India | 16 May 2010

dont take personal loans from IDBI bank. What do they think of themselves? IDBI personal loans have lot of paperwork and formalities. They kept asking for so many papers that i was fed up and finally ...[Read]

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personal loan

By: janardan, India | 27 March 2011

required mortgage loan...[Read]

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personal loan

By: narendra patel, India | 15 July 2011

hi...[Read]

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