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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
Transparency: Aimed at helping you make the right choice, we provide objective and transparent information about your loan
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
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
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%.
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.
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
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.
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
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
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.
Does Bank Bazaar charge me for its services?
BankBazaar’s services come to you free of charge.
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:
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
In case of self-employed banks require balance sheets, profit & loss
account, partnership deed & other documents etc.
IDBI Loan Interest
RatesUpdated on 07 December 2013
Details of IDBI Loan
Personal Loan Interest Rate.(Monthly reducing balance)
14.25% to 49% fixed. Check Customized Interest Rates Now!
1% to 5% of loan amount
Personal Loan Tenure
1 year to 5 years
Personal Loan Amount
Rs. 1 lakh to Rs. 20 lakhs
4% of pre-closed amount
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!
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
0% to 2% of amount being prepaid
0% to 2% of amount being preclosed
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!
Up to Rs. 3,650
Car Loan Tenure
1 year to 5 years
3% to 6% of foreclosed amount
Car Loan Amount
Varies based on car model. Up to 100% financing for pre-approved customers.
No guarantor required
Pointers for your personal loan! Evaluate all loan offers. The first condition for loan offer selection is the total money outflow that the loan will cost. The second factor is the EMI. A loan offer with a lower EMI and a longer tenure may seem attractive, as it could be easy on your purse strings, however not all such loans prove to be cost effective in the long run.
Alternatives to a personal loan! Whenever people have a requirement for some urgent cash and cannot come up with the amount needed with the resources they have, they inadvertently apply for a loan from a bank. Getting a loan today has become very easy, what with the stiff competition prevalent among different banks.
A personal loan? Think twice! Personal loans are the one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one. Let’s start with some common questions.
Checklist-Home loan documentation! Home loans are easy to come by these days. So, don’t fret over it. Focus on the documents you need to furnish while applying for a home loan.
We give you a standard list of documents your bank will ask for. Besides this you need to submit details of the property or home you are obtaining the loan for.
Are you loan eligible? Home loans are the most easily accessible financial supplement to purchase your dream home. To understand how to enhance your eligibility to apply for a home loan, make a simple self-assessment. Here is how banks do it.
Beware of these home loan facts! A bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.
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.
Know how on car loan defaults! Technically, a car loan default happens when a customer repeatedly fails to make the agreed car loan payments to the lender/bank that lent the money for its purchase. But is there a prescribed number of payment failure mentioned? Yes. Usually, the car loan agreement that you signed with your lender/bank will have these terms clearly spelt out.
The same model but different price! The second most important price adding factor is probably the taxation involved vis-à-vis the city of purchase of your car. The price variation between a Maruti Swift taken in Chennai and one taken in Mumbai could be even upto Rs 25,000/- costlier in Mumbai.
Understand car insurance premium! Some insurers offer certain add-ons like Personal Accident cover along with your policy. If you want to get the car repaired but don’t have money to pay for it, cashless claim settlement can definitely help you. Opting for third party legal liability will help you safeguard yourself against the legal liability in case of accident.