IDBI Bank Personal Loan

About IDBI

IDBI, which is also known as Industrial Development Bank of India is an Indian government undertaken financial company headquartered in Mumbai with 1846 branches in India. This bank offers private banking and financial solutions to its customers in corporate banking. Other products like corporate banking, mortgage loans, investment banking, private equity, wealth management are also offered at IDBI.IDBI is public sector bank that deals with core banking technology which enables the bank to offer customized banking and financial help to the customers. The net profit of the bank as of march 31 2015 was Rs. 837 crore.

Documents required to avail IDBI Bank personal Loan

  • A photo ID proof which has been issued by the government authority.
  • A valid age proof issued by the govt. of India.
  • A valid residence proof issued by the govt. of India.
  • An application form which is duly filled and signed by the applicant.
  • Bank statement of past 6 months which has been duly stamped by the authorized signatory of the issuing bank branch.

For Salaried

Last three months salary slips

Form 16 or a valid IT return form

For self employed professionals

Preceding three years IT return certificate along with computation of income.

Last three years reviewed and certified balance sheet and P&L account.

Your Eligibility to avail a Personal Loan


You are considered eligible for a personal loan if you are more than 21 years old or less than 65 years old.


Salaried: You are eligible to avail a personal loan in anywhere across India if you are drawing a monthly salary of Rs.17,500/-

Self Employed: You are eligible to avail a personal loan if you have a steady monthly income.

Credit Score

Credit Score is a Score which is calculated based on your financial history. It is a track record of your past financial transactions. Anyone who is regular at paying his or her credit in form of their payments towards credit cards, existing or outstanding loan of any kind is certain to have a higher “Credit score”. A higher credit score will empower you and increase the probability of the bank to grant an approval on your personal loan anywhere across India without a hassle

Features of IDBI Bank Personal Loan

IDBI offers personal loan ranging from Rs. 50,000 – Rs. 10, 00,00 for a salaried professional at a rate of interest of 14.25% and is known to public in case of floating rate. Customer can avail personal at IDBI to match their unpredicted financial needs like educational expenses, weddings, holiday plans, medical treatment, and renovation of house including free insurance for the loan. Approval time for the personal loan is very less. Personal loan varies for a salaried individual, self-employee, and pensioners.

Salaried Self Employed Pensioner
Average Balance of 20000 Average Balance of 25000
Annual Net INcome=1,80,000 Annual Net INcome=2,40,000 Based on the Income
Minimum = Rs. 50,000 Minimum = Rs. 50,000 Minimum = Rs. 25,000
Maximum = 10,00,000 Maximum = 10,00,000 Maximum = 5,00,000

IDBI - Personal Loan Amount – Rs. 50,000 - Rs. 10, 00,000/-

Personal loan can be easily availed at IDBI. You can apply for loan amount ranging from Rs. 50,000 - Rs. 10, 00,000/- if you are a salaried professional which against depends on your eligibility based on your monthly income and also repayment history.

IDBI - Rates of Interest - 14.25%

Personal Loans at IDBI come with a rate of interest 14.25% per annum.

IDBI - Repayment of Loans and foreclosures

  • Prepayment after 6 EMI’s is allowed with no additional charges.
  • Foreclosure of the loan before 6 EMI’s is charged at 2% of the outstanding amount.
  • Part prepayment is allowed based on the above condition and is not authorized to borrow another loan until 12 months from the date of termination of the loan.

IDBI Personal Loan – Loan tenure - 5 years

You can plan to pay back your loan amount during long loan tenure of 12 - 60 months. The longer the loan tenure the higher is the rate of interest you will bear towards your personal loan.

Apply for IDBI Bank Personal Loan at letzbank

Register yourself and submit an application with letzbank.

Assess personal loan offers being offered by a large gamut of partner banks anywhere across India.

Click on the Personal Loan EMI Calculator option and plan your own loan including your EMI, ROI, and loan tenure. You can also fore-see your loan at various stages by making use of Tools available on our website.

Submit your application and we will get back to you.

None of the applicants will be charged any additional fee towards the service fee for the applications submitted online.

Once you apply for personal loan online you can save your documents online on “Document Locker” and e-protect your documents against any forgery or theft and also prevent loss your valuable documents.