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IDBI Loan Ratings
4.0 / 5.0 by 191 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

IDBI Loan Reviews

"IDBI bank was best in their online banking. They are very fast in processing the transactions. The best part was they are very fast in their online banking for my salary account . The options of inter bank transfer was very good . I am using this account quite some time back . Overall they are good "

Lokesh Patel Patel T, Mumbai
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What is a IDBI Loan?

A IDBI Loan is a transaction where the lender gives money to the borrower, to be paid back with interest in EMI's.

Types of IDBI Loans

Personal Loan, Home Loan, Car Loan, Loan against property, Gold loan, etc are various types of loans available in India.

How Bankbazaar helps you get a IDBI loan?

Bankbazaar helps you compare & apply real time IDBI loan rates & other fees from various banks.
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IDBI Loan Overview

IDBI 4.0 / 5.0 by 191 users  
Used this product? Write a review »
IDBI Loan Low interest rate Loan offers.

Looking for a Loan in India? Compare Personal Loan, Home Loan and Car Loan offers online at BankBazaar.com for India.

We can help you find the right loan deals in India. We work with major banks & financial institutes like HDFC Bank & Fullerton India who offer great personal loan deals at low interest rates with fast & simple online approval process. For Home Loans we work with HDFC Ltd, Axis Bank, ICICI Bank & others to get you the best home loan interest rates. To help you buy your dream car in India we work with Axis Bank and HDFC Bank to get you the best car loan interest rates.

Why Apply for a IDBI Loan on BankBazaar.com?
  • One stop shop for multiple products: Get best loan offers for personal loans, home loans and car loans at BankBazaar.com.
  • Lowest interest rates: We have coordinated with HDFC Bank, Fullerton, HDFC Ltd, Axis Bank & ICICI Bank to get you the lowest Personal Loan interest rates, Home Loan interest rates and Car Loan interest rates in India.
  • Instant Quotes: Get Loan quotes customized to your profile online instantly by filling in the form above.
  • Simple Online Comparison: Compare Loan offers on the basis of interest rate, EMI, processing fees & customer satisfaction.
  • Transparency: Aimed at helping you make the right choice, we provide objective and transparent information about your loan options.
  • Privacy: Your application is sent only to the lender you choose, and is never shared with anyone else.
  • Trust: Top private banks in India like HDFC Bank, ICICI Bank and Axis Bank uses BankBazaar.com-powered technology to give thier customers the best Loan experience on their websites. www.hdfcbanksmartapply.com, https://www.hdfcinstanthomeloans.com/home-loan/compare-interest-rates.html, https://loans.axisbank.com/ and https://loans.icicibank.com/
How to get a IDBI Loan in India on BankBazaar.com
  • Eligibility Calculator: Fill the form above to instantly get customized Loan quotes that you are eligible for.
  • Compare Loan offers: Compare customized Personal Loans, Home Loans and Car Loan offers in India from various banks based on your eligibility criteria and apply online for the one you like.
  • Your application will be sent electronically to the lender you chose. The lender will contact you within one day.
  • BankBazaar.com will update you on your loan application status via email & SMS alerts.

IDBI Loan FAQs

  1. What are the interest rates for IDBI Loans?
    Each bank will have different Interest rates. Interest rates will also vary depending on each individual’s eligibility criteria’s. Typically Interest rates start at 12% and can go up to 28%.

  2. How much money am I eligible for?
    You can borrow as much as you can repay. This in banking terms would mean a Loan that has an EMI that does not exceed 40% of your monthly take home income, where the EMIs for existing loans are also deducted.
    For self-employed applicants, profit is the benchmark that determines loan value. The longer the time frame for repaying the loan the lower the EMI and this also means you can opt for a larger loan amount. The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.

  3. Can I have a co-applicant for a IDBI Loan?
    Yes, you can opt for a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration.

  4. What is credit history? How does a financial institution check on my credit history?
    A credit history is basically a record of your past repayments of loans and credit card bills. Also, there is a central bank of data available with the Credit Bureau of India Limited (CIBIL), where data from all the banks on existing loans and their repayment patterns of their customers are accumulated. Before approving your loan a financial institution always checks with CIBIL on your loan repayment track record.

  5. How can I compare quotes from multiple banks?
    One of the easiest ways to do this is to compare online. Find your Loan at BankBazaar.com to gain instant access to the best quotes from various lenders.

  6. What does prepayment charge mean? Does it matter while comparing loans?
    A Loan is repaid to the lender within a fixed time frame, which is usually 1 to 5 years. In case you want to clear the loan payment earlier than the agreed time frame, the bank levies a prepayment penalty charge. This could be up to 5% of the outstanding loan amount but can vary according to the bank and the credit profile of the borrower. Make sure the interest saved by pre-paying exceeds the prepayment fee paid. This is one of the factors to keep in mind while comparing loans.

  7. What is the difference between a fixed interest rate and floating interest rate?
    A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. For instance, it increases when RBI hikes up short term interest rates. Banks usually quote the floating rate loans as their index rate (prime lending rate) plus or minus x%. Banks usually increase or decrease their prime lending rate when the RBI increases or decreases short term interest rates.

  8. Does Bank Bazaar charge me for its services?
    BankBazaar’s services come to you free of charge.

  9. How will the security and privacy of my data be ensured?
    BankBazaar will never share your data with any third party other than the financial institution that you decide to apply to. Our sound technology practices ensure a highly secure environment for all your data.

IDBI Loan Eligibility & Documentation

Check IDBI Loans offers online

IDBI Loan Eligibility: You are eligible for a loan if you are:
  • Salaried individual
  • Self employed individual
  • Self employed professional like doctor, lawyer, etc.
  • Aged above 18 years
  • Have a good CIBIL credit score
  • Good repayment capacity with fixed & stable income source
  • Overall banks rating for the company you work for
  • Try our Personal Loan eligibility Calculator to check how much loan amount you are eligible for.

IDBI Loan documentation: IDBI loan documentation process is minimal and generally banks require the following document:
  • Identity proof (Pan card, Passport, etc.)
  • 3 to 6 months bank statement (if salaried then bank statement of your salary account)
  • Residence proof (rent agreement, property document, ration card, etc)
  • Salary Slips
  • In case of self-employed banks require balance sheets, profit & loss account, partnership deed & other documents etc.

IDBI Loan Interest RatesUpdated on 21 December 2014

Details of IDBI Loan

Personal Loan Interest Rate.(Monthly reducing balance)
14.25% to 49% fixed. Check Customized Interest Rates Now!
Processing Fees
1% to 5% of loan amount
Personal Loan Tenure
1 year to 5 years
Personal Loan Amount
Rs. 1 lakh to Rs. 20 lakhs
Pre-closure Charges
4% of pre-closed amount
Guarantor Requirement
No guarantor required

Details of Home Loan

Home Loan Interest Rate.(Monthly reducing balance)
10.5% to 14.25% floating. Check Customized Interest Rates Now!
Processing Fees
0.5% to 1% of loan amount
Home Loan Tenure
1 year to 20 years
Home Loan Amount Funded
Up to 85% of property value
Pre-payment Charges
0% to 2% of amount being prepaid
Pre-closure Charges
0% to 2% of amount being preclosed
Guarantor Requirement
No guarantor required

Details of Car Loan

Car Loan Interest Rate.(Monthly reducing balance)
10.50% to 14.25% floating. Check Customized Interest Rates Now!
Processing Fees
Up to Rs. 3,650
Car Loan Tenure
1 year to 5 years
Pre-closure Charges
3% to 6% of foreclosed amount
Car Loan Amount
Varies based on car model. Up to 100% financing for pre-approved customers.
Guarantor Requirement
No guarantor required

Loan Articles

  • How Does Personal Loan compare to other loans!!!
    A personal loan is by nature an unsecured credit that is provided to an individual based on his personal capability of repayment. The process is extremely simple and fast provided that the requisite documents are in order when applying for the loan.
  • Know Your Personal Loan!
    The ease and simplicity associated with the personal loan along with no restrictions on the end usage makes it extremely popular option to raise funds when there is an urgent need. There are many doubts in the minds of applicants regarding the post disbursal procedure involved in a personal loan
  • Personal Loan criteria for the self employed
    One should opt for a personal loan only when all other means of availing funds have been exhausted and the need is pressing and situational. Taking a personal loan when the need is not justifiable or other means are available creates tremendous amount financial complications at a later stage.
  • How to calculate your loan eligibility!
    Most people who buy a home through a home loan are often left with little cash to carry out any further improvements in the house as per their requirements. Some opt for personal loans in order to make good this requirement.
  • Home loan document checklist for self employed!
    Every financial institution which deals in home loans has a specified set of requirements which are to be met by a borrower. When a borrower is found to be eligible for the loan, only then he is granted the amount applied for.
  • How to select your home loan lender?
    Getting a home loan approval can be a long and tiresome process especially if you are a self-employed professional or business owner. This is because many banks doubt business men for job continuity, as they are free to quit their jobs at any time. 
  • How to get a car loan faster!
    Getting a car loan is not supposed to be a Herculean task where the customer runs from pillar to post trying to negotiate a good deal and securing approval of the financing company.
  • Luxury car loans in India!
    The key to pushing up sales in this segment lies in creating unbeatable financing schemes that will lure the prospective customer from mid segment to luxury cars.
  • What is the application process for a car loan?!
    Applying for a car loan is relatively simpler as compared to a home loan primarily because the amount involved is less and the documents needed are much simpler to obtain.
  • Options for financing education abroad
    Studying abroad is expensive and at times the cost can be as high as six times that of the cost in India and hence planning needs to be done to ensure that sufficient funds are at disposal when needed. This is essential because to apply for the student visa, you need to show proof of funds sufficient to cover at least the first year of education.
  • Some basic facts about educational loans
    A ray of hope is seen with the availability of educational loans from various banks, which can fund an individual’s higher education. As these loans are not one of the ‘mainstream’ loans such as home loans or personal loans, people are hesitant or mostly unaware of such options. Here are answers to some generic queries that rise in regards to educational loans.
  • Education loans set to become more attractive!
    Typically interest rate on the education loan starts accumulating as soon as the course is over. Since interest during the moratorium period will be paid by the government, EMI for the borrower is set to fall. This will reduce pressure on his/her cash flows.
  • Education loan amount is to be correlated to repayment capacity
    According to a recent press report the revised education loan scheme implemented on all banks will make disbursal based on the repayment potential of the borrower. The education loans are not going to be offered based on the parental income or family wealth of the borrower which will be the decisive factor.

Loan Forum

IDBI   Loan Reviews
94 % of our customers would recommend this bank. (179 out of 191) Write Review
Customer Reviews
Page 1 of 10 1 2 3 4 5
  • Validated User
    (1)

    I am holding a savings account with IDBI. It was not that good, as there was a delayed response. Great, if they increase the size of the transactions. As I was trying to do a transaction for stamp duty registration fee for 1,50,000 and it ended up as a failure as my limit is hardly rs 1,00,000.

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    suraj took a Saving Account from IDBI BANK Reviewed on
  • Validated User
    (0)

    The services are moderate when I applied for a home loan from IDBI bank. The customer support was not so good as they do not respond on time. The information provided was not proper which needs to be improved as well.

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    rajeev took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (0)

    IDBI bank was best in their online banking. They are very fast in processing the transactions. The best part was they are very fast in their online banking for my salary account . The options of inter bank transfer was very good . I am using this account quite some time back . Overall they are good

    Was this review helpful? Yes

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    Fees & Charges
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    lokesh took a Saving Account from IDBI BANK Reviewed on
  • Validated User
    (0)

    IDBI bank was best in their online banking. They are very fast in their transaction. If I transferred the amount from my savings account it will be processed within 3-4 hours of time . The options of inter bank transfer was very good . I am using this account for more than 7 years of time

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    nirmal took a Saving Account from IDBI BANK Reviewed on
  • Validated User
    (0)

    The best part in idbi bank was their online banking it was user friendly. They need applications for each and every request in branch . Its a very lengthy process in my savings account wherin they needs to improve on their services . Probably they may include to place the request on online

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    chayadevi took a Saving Account from IDBI BANK Reviewed on
  • Validated User
    (0)

    Customer service was very good when I availed home loan from idbi bank.So far no issues from them. Rate of interest was very reasonable when compared with other banks. Very easy documentation process. They required very minimum documents to process the loan. Overall excellent

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    rajagopal took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (0)

    I am holding a IDBI savings account its very smooth and its very easy to transfer money . I have many ATMS close to my place I can easily with draw cash from the ATM. There is nothing negative about this Bank. I am getting text message for all my transaction and it does not cost me. The minimum balance required to maintain is hardly rs 500

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    mithun took a Saving Account from IDBI BANK Reviewed on
  • Validated User
    (1)

    Since I am an existing customer of IDBI bank I got my home loan within 15 days of time with reasonable rate of interest of 10.25% of market value . Customer service and response was very good . I am very much happy to avail the services .

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    raghupathi took a Home Loan from IDBI BANK Reviewed on
  • (2)

    I recently opened a New Fixed Deposit account at IDBI Bank (Kolkata). I compared The Prevailing Rate of Interest in the Current Period & Found that They're Offering The Highest Rate of Interest (At Per with Another nationalised Bank). Moreover there was a prevailing offer which Said that there would be no Deduction Charges if we close the a/c before Maturity Date. & The Best Part was, I didn't have to Visit the Bank, I just made a Call & they Sent Their Representative Down to Collect The Cheque. They're Highly Professional & I'm Very Happy with Their Service. Of Course Recommended! :)

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    satyajit took a Fixed Deposit from IDBI BANK Reviewed on
  • Validated User
    (0)

    Service is very good from IDBI and highly satisfied. IDBI employees are very professional and they were cooperative. I say the time taken to resolve queries were less and whenever we visit branch for any work, they take ownership to complete it. I am maintaining current account for 2 years with IDBI and they are offering good benefits to their customers. Customer service is markable.

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    rakesh took a Current Account from IDBI BANK Reviewed on
  • Validated User
    (0)

    The car loan from which I availed from IDBI bank is very good. The experience was great. The processing was so fast as I applied and got the loan approved on the same day. The loan amount was Rs. 500000 and the interest rate is 10.25% for 7 years.

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    vinod took a Car Loan from IDBI BANK Reviewed on
  • (0)

    I am a self Employ, I have own business.I have three years balance sheet with it return filed. I required personal loan RS.500000/- Five lakh only IDBI Bank (Industrial Development Bank of India) is one of Indiaâ??s leading public sector banks. Primarily established for providing credit to Indian industry, it has now started focusing on retail consumers too. The maximum amount of loan available is 10 lacs. This is more or less in keeping with whats available in the market. I have applied for personal loan with IDBI.The processing fees are 1.5% of the loan amount. This is among the lowest offered in the market. The prepayment charges are upto 6% of the outstanding amount. This is much higher than what most other banks offer. This is a major concern for people who wish to repay their loans ahead of schedule I feel the service was very prompt. Interest rate was competitive.

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    arihant took a Personal Loan from IDBI BANK Reviewed on
Customer Reviews
Page 1 of 10 1 2 3 4 5

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