Why wait till you save enough money to fulfill a dream that's just a step away. Take a Personal Loan from IDBI and go ahead and have all the things you've been dreaming of without even worrying how to repay it.
Personal Loans from IDBI comes with an insurance cover. This means when times are tough, you'll have an insurance cover to take care of the EMI's.
Apply IDBI Personal Loan Online
* In case of death or disability due to an accident, the principle outstandings will be paid by the insurance company.
* In case of loss of job, the insurance company will pay the EMIs for up to 3 months
Also you can transfer your existing loan to IDBI and save up to Rs 50,000
Applying for a Personal Loan is absolutely simple. Just fill in the online form and our representative will get in touch with you shortly. You could also call our Phone Banking numbers for further assistance.
Following are eligible to apply for an IDBI Personal Loan:
* Salaried individuals
* Doctors / dentist
* Professionals
* Proprietors and partners
Eligibility
The eligibility criteria according to the type of customer is given below:
Salaried Individuals
Eligibility
Minimum****Maximum
Amount (INR) Rs 50,000 Rs 10,00,000
Repayment Months 12 months 60 months
Age 23 yrs 58 yrs (At end of loan)
Requirement :
Current residence : Either owned or 6 months
Current job : 6 months
Bank Statement : 6 months
Phone ownership : Required
Total work experience : 24 months
Net salary : Rs 8,000 per month or 6,500 per month for relationship customers
Doctors / Dentist *
Eligibility Minimum Maximum
Amount (INR) Rs 50,000 Rs 20,00,000
Repayment Months 12 months 60 months
Age 28 yrs 65 yrs (At end of loan)
Requirements
Current residence : Either owned or 12 months
Total medicine practice : 24 months
Bank Statement : 6 months
Phone ownership : Required
Total work experience : 48 months
Minimum required : Rs 90,000 per year
Professionals
Eligibility *** Minimum *** Maximum
Amount (INR) Rs 50,000 Rs 15,00,000
Repayment Months 12 months 36 months
Age 25 yrs 65 yrs (At end of loan)
Requirements
Current residence : Either owned or 24 months
Current business : 24 months
Total business experience :48 months
Bank Statement : 6 months
Phone ownership : Required
Minimum Income : Rs 90,000 per year
Profit making business : Last 2 yrs
Property ownership/ repayment track : Required
Proprietors and Partners
Eligibility*** Minimum*** Maximum
Amount (INR) Rs 50,000 Rs 15,00,000
Repayment Months 12 months 36 months
Age 25 yrs 65 yrs (At end of loan)
Requirements
Current residence : Either owned or 24 months
Current business : 24 months
Total business experience : 48 months
Bank Statement : 6 months
Phone ownership : Required
Minimum Income : Rs 1, 00,000 per year
Minimum Turnover :
Service - 5 lacs per year Manufacturing - 20 lacs per year Trader – 25 lacs per year
Property ownership : Required
Repayment track : Required
Note: * Doctors with only salary income need to apply under salaried category.
Documentation
The following documents would be required for applying for an IDBI Personal Loan:
Salaried Individuals.
1. Photograph
2. Age proof
3. Identity and signature proof
4. Telephone ownership proof (post-paid mobile bill acceptable)
5. Current address and address continuity proof
6. Current employment proof and employment continuity proof
7. Salary slip
8. Latest form 16
9. Bank statement
10. Credit card statement or repayment track record
11. Own property proof
Doctors / Dentist
1. Photograph
2. Age proof
3. Identity and signature proof
4. Telephone ownership proof (post-paid mobile bill acceptable)
5. Current address and address continuity proof
6. Bank statement
7. Qualification proof
8. Business address proof and business continuity proof
Professionals
1. Photograph
2. Age proof
3. Identity and signature proof
4. Telephone ownership proof (post-paid mobile bill acceptable)
5. Current address and address continuity proof
6. Bank statement
7. Credit card statement or repayment track record
8. Own property proof
9. Qualification proof
10. Business address proof and business continuity proof
11. Bank account age proof
Proprietors and Partners
1. Photograph
2. Age proof
3. Identity and signature proof
4. Telephone ownership proof (post-paid mobile bill acceptable)
5. Current address and address continuity proof
6. Bank statement
7. Credit card statement or repayment track record
8. Own property proof
9. Business address proof and business continuity proof
10. Bank account age proof
Personal Loan
General FAQs
Q1 What are the benefits of having been an existing customer for my Personal Loan?
You get preferred interest rates, priority processing and simpler documentation if you have a Savings or Current Account with us. You will also get preferred interest rates in case you have any other loan account with us. The relationship is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit your IDBI account with the EMI amount.
Q2 How will my eligible loan amount be calculated?
You can avail of a loan from Rs 50,000 to Rs 20,00,000 depending on your income, repayment capacity and applicant category. You can club the income of your spouse if you wish to increase your loan amount.
Q3 How do I repay my loan?
You repay the loan in equated monthly installments consisting of principal and interest. The loan will be paid through post-dated cheques or through Standing Instructions to debit your IDBI account with the EMI amount.
Q4 Do I need to give security or guarantor for this loan?
To obtain this loan, there is absolutely no need to provide any security or guarantor.
Q5 Will I have to pay any fees or charges up-front along with the application?
No. You do not have to pay any amount up-front. All fees and charges will be applicable only after approval of your application.
IDBI Personal Loan Service Charges :
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