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IDBI Loan Ratings
4.0 / 5.0 by 133 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

IDBI Loan Reviews

"Banking with IDBI, gives me immense pleasure, as they provide extra ordinary customer service. I get reminders from this Bank on a timely basis for making the payment . The most exciting part of this loan is, they will return the documents, if I am not eligible for the loan and it took hardly 10 days time for me to receive the loan amount. "

Karthick Ry, Chennai
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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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We've identified the lowest interest rate quotes for your profile with great savings.

Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

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IDBI Loan Overview

IDBI 4.0 / 5.0 by 133 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 01 September 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
96 % of our customers would recommend this bank. (128 out of 133) Write Review
Customer Reviews
Page 1 of 7 1 2 3 4 5
  • Validated User
    (0)

    With IDBI bank, we need to keep on following up in terms of loan processing. There is no particular person assigned for me. Interest rate is 10.25% without no processing fees. The only concern is follow up which is difficult however other services are good. Even there is no response from customer service.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Banking with IDBI, gives me immense pleasure, as they provide extra ordinary customer service. I get reminders from this Bank on a timely basis for making the payment . The most exciting part of this loan is, they will return the documents, if I am not eligible for the loan and it took hardly 10 days time for me to receive the loan amount.

    Was this review helpful? Yes

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    Fees & Charges
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    User has not used IDBI BANK Reviewed on
  • Validated User
    (0)

    IDBI bank was very convenient and having easy documentation. They are having excellent customer service wherein took the initiave in completing the documentation part and updating me on the status of my HOME loan on regular basis. The whole process got completed within six days.Entirely it was a excellent experience

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    Fees & Charges
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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    IDBI bank was very convenient and having easy documentation. They are having excellent customer service wherein took the initiave in completing the documentation part and updating me on the status of my HOME loan on regular basis. The whole process got completed within six days.Entirely it was a excellent experience.

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    Fees & Charges
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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The experience with IDBI bank is not much satisfactory. They are not providing timely information on renewal of deposit etc. Interest rate is too less compared with other banks. Am getting 8.5% for 1.5 years. Even if I contact the customer care, they take much time for responding which is not at all good.

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    User has not used IDBI BANK Reviewed on
  • Validated User
    (0)

    IDBI not contacted through Bankbazaar, contacted personally and got it. Services were satisfactory from this bank, around 10.25% was the interest rate and they were processing charges. I guess after giving my documents, it was 3-4 days for processing.The cooperation was good and was pretty lenient on documentation part and they were not forcing me to submit the documents soon.

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    Fees & Charges
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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    IDBI approached me for a Car Loan . I can rate them as 5 for their rate of interest as its can very competitive and this is the only Bank which provides the loan for 7 years and all the other Banks are providing at 5 years however as I have taken a loan with ICICI nothing much to comment about them

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    took a Car Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My experience about the DEMAT account with IDBI bank was good . They dont have any interest rates for this account. And their charges are also fine. No issues on that . Simply I could say they are hassle free bank for my demat account.No suggestions for them

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  • Validated User
    (0)

    the idbi bank provide services mobile sms,debit card,net banking, and cusumer help desk are very good supports all over idbi bank branches and cheque book and cash diposite are not long weting five minutes all work clear and all branches staff full suports custemer care idbi is best services provide

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    User has not used IDBI BANK Reviewed on
  • Validated User
    (0)

    the idbi bank provide services mobile sms,debit card,net banking, and cusumer help desk are very good supports all over idbi bank branches and cheque book and cash diposite are not long weting five minutes all work clear and all branches staff full suports custemer care idbi is best services provide

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    User has not used IDBI BANK Reviewed on
  • Validated User
    (0)

    Few years ago I have availed a home loan from IDBI. It was a good experience for me because I never had any issues with them. Everything was explained to me in detail about what documents I should submit and the process was very smooth. Disbursement of the loan happened very quickly before the expected time.

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    took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Customer servuice was very good. Compared to these banks proper communication, SMS alert facilities, customer service was very good with IDBI bank for my previous salary account with previous company. Very quick resposne .If if there is any problem they will be giving the suggestions

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Customer Reviews
Page 1 of 7 1 2 3 4 5

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