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IDBI Loan Ratings
4.0 / 5.0 by 220 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

IDBI Loan Reviews

"I am holding a IDBI Salary account. I am maintain some balance on this account. The minimum balance on this account is rs 5000. I am getting sms alerts on time. The response provided by them is really good. There is no annual fee no charges for SMS alerts and there is no cash deposit machine in ATM. "

Manoj Kumar S, 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 220 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 06 March 2015

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
93 % of our customers would recommend this bank. (204 out of 220) Write Review
Customer Reviews
Page 1 of 11 1 2 3 4 5
  • Validated User
    (0)

    I am holding a IDBI Salary account. I am maintain some balance on this account. The minimum balance on this account is rs 5000. I am getting sms alerts on time. The response provided by them is really good. There is no annual fee no charges for SMS alerts and there is no cash deposit machine in ATM.

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

    Actually this is transfer loan where I transferred from different bank to IDBI. Employees and branch manager are good where they guided me in each and everything. IDBI gave good interest rate for home loan but charges are too high. No problem in home loan processing but the executives forcing me to take life insurance and home insurance along with home loan so I have to visit branch and have to consult regarding the same.

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    santosh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • (3)

    resident :mumbai idbi branch :kurla andheri my process of home loan started on nov 20 ,14 and went on till jan 22 with me ending up only to know that all the documents which i have submitted was asked again by the executive bcuz they all lost it and to restart the process again of loan .on the other hand the builder which has started charging me 28 % interest for installment not paid which was part of the loan applied money. I was shocked to know the idbi executives were so lousy in their job .At last they are govt ppls and what can u expect from them. This is a true life experience,plz forbid to take loan from such bad bank who has no value for clients, This is a real experience plz dont think as any hoax review... Regards, Srikant

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    srikant took a Home Loan from IDBI BANK Reviewed on
  • (0)

    This is the best bank I have ever experienced in India, not just in terms of simplicity but in terms of very low or nil charges, ease of transacting, relationship management, high FD rates etc. Another good thing is Zero Balance requirement for both Savings as well as Current account. It is interesting to note that if you really check the Interest rates offered by IDBI Bank compared with any public-sector or private bank in India at any given time, you will notice that IDBI is offering the maximum rates. The netbanking is decent enough for anyone to operate, but still have scope for improvement. Their customer support is also very good. I have been using their Savings and even Current account services since past 8 years now.

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

    I am holding a IDBI Housing loan. They are not very clear with the policies and procedure. After selling the product they are not focusing on Customerâ??s needs. Many a times I have written mails to them however they did not bother to response. Only once they have responded. The charges are very much nominal. They dont charge anything extra they are very fast in processing the application quickly.

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    raju took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (3)

    One month is there to complete the home loan with IDBI and the interest rate is 11.25%. EMI date is 30th and it is getting through my account. May be in thousands they would have collected the processing charge. Interest rate is bit high in IDBI for home loan. Actually the builder was associated with IDBI so I must go with the same bank for home loan, in this way I have taken from IDBI.

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    ramanath took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (1)

    Services is good however the rate of interest is 0.1% is higher than other banks. Customer service team of IDBI is too friendly in nature. They had provided part payment option with 0% charges for home loan.

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

    IDBI is been excellent services rendered. Compared with other banks, their services is best. They don't let the customers do the follow ups, they keep on updating the home loan status. Interest rate is quite the same like other banks. Charges are so lesser which is quite appreciable.

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    kiran took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (5)

    I had opened up fixed deposit account with IDBI before 3 years. Its a compounding interest rate with good returns compared with other banks. I get regular intimations about fixed deposit certificate via on line. I would like to suggest IDBI as its user friendly services.

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    supriya took a Fixed Deposit from IDBI BANK Reviewed on
  • Validated User
    (1)

    In terms of home loan, IDBI had waived off the processing charges due to the deal. The interest rate is 10.50% for plot and construction loan. IDBI provides part payment option with 0% charges.

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    adarsh took a Home Loan from IDBI BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    As its a resale property, I did know about IDBI through the previous person who had taken home loan. Even the paper work was less as its a pre approved loan. Interest rate is very less at that point of time.

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    palguna took a Home Loan from IDBI BANK Reviewed on
  • Validated User
    (2)

    I applied for a home loan from IDBI bank in the year 2012. The experience was good. The services was fine. They gave the maximum loan amount compared to any other banks in the market. The rate of interest was 10.25% and there was no processing fees. The customer support was good.

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    mukesh took a Home Loan from IDBI BANK Reviewed on
Customer Reviews
Page 1 of 11 1 2 3 4 5

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