• IDBI Personal Loan

    Whether you are looking to renovate your home or need money for your child’s higher education, IDBI Bank personal loans are great solutions thanks to their reasonable repayment tenures and attractive interest rates. With interest rates starting from 9.50% p.a. and processing fees as low as 1% of the loan amount, IDBI Bank personal loans come with flexible repayment tenures which range from 1 year to 5 years.

    Features of IDBI personal loan

    IDBI personal loans are available as 3 variants:

    • Salaried, self-employed professionals and pensioners
    • Salary a/c in IDBI with built-in Overdraft (OD) facility
    • Salary a/c in IDBI with built-in OD facility to IDBI Bank Pensioners

    Documentation needed to apply for an IDBI Bank Personal Loan

    • 1. Signed application form with photograph
    • 2. Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • 6. Documentation for self-employed applicants:
      • Latest Bank statement
      • Latest ITR or Form 16

    IDBI Personal Loan Details

    Interest Rate Floating: 8.15% p.a. to 10.90% p.a.
    Fixed: 9.50% p.a. to 14% p.a.
    Processing Fees 1% of the loan amount plus applicable taxes
    Loan Tenure 60 Months
    Pre-closure Charges 2.00% + applicable taxes. After 6 months the charges are NIL.
    Guarantor Requirement No Guarantor Required

    What are the interest rates on IDBI personal loan?

    The interest rate on personal loans and its variants offered by IDBI Bank are as mentioned below. These rates are applicable from 1 May 2021.

    The applicable interest rates are given below:

    Personal Loan Floating Interest Rates

    Pension Account with overdraft facility (For retired IDBI Staff) 8.15% p.a.
    Salary / Pension Account with overdraft facility (For others) 10.90% p.a.

    Personal Loan Fixed Interest Rates

    Credit score Salaried or pension accounts with IDBI Bank Employees of Central/State Government/ Public Sector Undertaking/ MNCs who do not have a salary account with IDBI Bank All other Salaried employees Self Employed professionals (SEP) having asset relationship with IDBI Bank Self Employed Non-professionals having asset relationship with IDBI Bank
    801 &above 9.50% 10.00% 12.00% 12.25% 12.50%
    776 to 800 9.75% 10.25% 12.25% 12.75% 13.00%
    740 to 775 10.75% 11.25% 13.25% 13.75% 14.00%
    700 to 739* 11.75% NA NA
    -1 10.75% NA

    What is the eligibility criteria for IDBI personal loan?

    For personal loans for salaried and self-employed professionals

    • Aged between 21 years and 60 years. Maximum age for pensioners is 75 years.
    • Salaried:Rs.1.8 lakh p.a.
    • Self-employed:Rs.3.6 lakh p.a.
    • Minimum loan amount is Rs.25,000 and maximum loan amount is Rs.5 lakh.
    • The maximum available loan duration here is 60 months.
    • After 12 months of uninterrupted loan repayment, customers will have the option of availing a Top-Up Loan.

    For salaried in-built OD a/c and in-built OD IDBI Pensioners a/c

    • Aged between 22 years and 65 years. Age up to 75 years for IDBI pensioners.
    • Maximum loan amount is 5 times of net salary.
    • Overdraft facility of 1 year for IDBI pensioners, 2 years for salaried account holders.

    IDBI Loan against Securities

    Have a share or any other security in your name? You can utilise these securities purchased in your name to apply for a loan. IDBI Bank offers loans against securities that can be availed at attractive interest rates. Under this scheme, one can apply for an optional overdraft facility if required. The bank provides loans to those who have purchased mutual funds, life insurance policies, dematerialised equity shares, Kisan Vikas Patra, RBI bonds, national savings certificates, etc. The loan limit will depend on the market value of the securities. To find out more about IDBI Loan against Securities, click here.

    IDBI Loan against Property

    Looking for an economical loan option? If you are a property owner, why don’t you try applying for an IDBI Loan against Property? Whether you are a salaried employee or a self-employed individual, you will be eligible to apply for this loan if you want to meet personal expenses. The maximum tenure for this loan scheme is 15 years. You can choose from regular, overdraft, and interest saver options. The interest rate for this product ranges from 8.10% p.a. to 9.35% p.a. The maximum loan amount offered by this product is Rs.10 crore.

    IDBI Reverse Mortgage Loan

    Are you looking for ways to get some extra income? If you are a senior citizen, you can apply for a reverse mortgage loan from IDBI Bank to make some additional money. You can utilise this loan scheme to renovate your living space, to pay the insurance premium for your home, or for family emergencies. In order to apply for this loan, your age will need to be above 60 years. You will need to repay this loan within 20 years. The loan amount will be Rs.2 crore. The rate of interest for this loan is 10.85% p.a.

    How do I calculate IDBI Personal Loan EMI?

    There is a dedicated EMI calculation tool in our website. The personal loan calculator can be accessed from the homepage in the ‘Financial Tools’ sub-category at the top of the page.

    On reaching the EMI calculator page, you will see two scales marked as “Loan Amount” and “Tenure”. Drag the scale to the relevant amount and loan tenure that you are looking to pay. Under the scales, there are two boxes marked “Interest Rate” and “Processing Fee”. Both are self-explanatory and the exact figures may be entered by you.

    On entering the details and clicking “Calculate”, you will be taken to a new page with charts and graphs that show you the loan breakup, amortization, and repayment details in a visually attractive and easy-to-understand way.

    IDBI Personal Loan Customer Care Number

    You can get in touch with the bank’s IDBI personal loan customer care representatives by calling on their customer care helpline number. If you are calling from India, you can use the toll-free number or the non-toll-free number of the bank. You can send a message to the bank at 9220800800 with the following text: ‘IDBICARE’. You may also fill an online grievance redressal form for getting your troubles resolved. You may also send an email to the bank with your complaint details.

    FAQs on IDBI personal loan

    • Am I eligible for IDBI Personal Loan?

      IDBI Personal Loan offers personal loans only for salaried individuals earning more than the minimum stipulated amount per month depending on the city of their residence. The minimum monthly income required for IDBI Personal Loan is Rs. 20,000 per month. If you fall into this group, you can definitely apply for a IDBI personal loan.

    • How to check IDBI Personal loan status?

      You can check the idbi personal loan status by going into the website of IDBI Bank. There you need to key in the URN number, PAN, type of facility, and mobile number. Once done, the status of the loan application is displayed.

    • How do I repay IDBI Personal loan?

      You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility or through post-dated cheques.

    • What is the maximum loan one can get from IDBI?

      IDBI offers personal loans as high as Rs. 5 lakh for successful applicants depending on their financial record and repayment history.

    • What is the tenure for IDBI personal loan?

      IDBI offers personal loan with a tenure period ranging from 12 months to 60 months making it suitable for all loan seekers.

    • What are the reasons for which I can avail a personal loan from IDBI Bank?

      Personal loans from IDBI Bank can be availed for any personal reason. Most customers who avail the loan do so to meet unforeseen financial crunches or to make payments to an increasing credit card debt. Personal loans from IDBI Bank can be taken out to meet expenses related to household purchases, immediate expenses, childrens education, hospitalisation, etc. Personal loans from the bank can also be availed to fund payments of your home loan.

    • What are the documents I will have to furnish when applying for a personal loan from IDBI Bank?

      Customers will have to fill in the loan application form and submit it to the bank for approval along with proof of identity, proof of residence, form 16, latest salary slip, and bank statement for the past six months. A passport sized photograph must also be affixed to the loan application form prior to submission. For proof of identity, customers may submit any one of passport, Voters ID, driving license, Defence ID card, ration card, PAN card, Government employee ID card, or Aadhaar card. For proof of address, customers may submit any one of passport, ration card, Voters ID, registered lease / rent agreement, driving license, telephone / water / electricity bill, property tax bill, or gas bill.

    • How is the calculation of interest done on a personal loan?

      A predetermined rate of interest will be applied to the personal loan and interest will be charged on reducing balance method. The amount of interest will be debited to your loan account on a monthly basis. Interest rates are subject to change from time to time at the discretion of the bank.

    • Can anybody apply for an IDBI Bank personal loan?

      Salaried individuals who have a savings account with IDBI for at least three years or preferred customers who have been banking with IDBI for a minimum of one year can avail loans from the bank. Those who do not have a bank account with IDBI can also avail a personal loan offered at fixed interest rates. However, the applicant must maintain a healthy credit score to avail a loan from the bank at a lower rate. There are other eligibility criteria that must be met for the bank to approve your application for a personal loan, such as your income, your job security, your credit score, etc. The bank will take into consideration these factors and others before confirming whether or not you have the ability to repay the loan and only then will it approve your application.

    • What are the benefits of availing a personal loan from IDBI Bank?

      There are many advantages to approaching IDBI Bank for a Personal loan. First and foremost, the rate of interest offered by the bank is attractive in comparison with its competitors. Interest is charged on reducing balance method, and the documentation process if fairly simple and quick. The bank also offers personalised services to customers and the borrower will not be levied with any insurance fees for loan insurance.

    • How can I make repayments towards the personal loan?

      Your personal loan from IDBI Bank can be repaid in EMIs by putting standing instructions / a mandate to debit your saving / salary account with the bank on a predetermined date each month.

    *This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with IDBI. For further information about any of the products mentioned above please contact IDBI.


    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    IDBI Bank Personal Loan Reviews

    • IDBI
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      IDBI branch was nearby me so that i had chosen the personal loan with them. I went to their branch directly to avail the personal loan and they have provided me a nominal interest rate. I bought the loan long back like 15 years. I received the NOC letter through mail.
      Was this review helpful? 50
      , varanasi
      Reviewed on Jan 02, 2020
    • IDBI
      "Rate of interest should be reduce for existing customer"
      0.5 5.0/5 "Blown Away!"
      I availed Rs. 2.5 lakhs of personal loan from IDBI with 13% of interest for the duration of three years, the loan process was easy to complete the documentation. The field executive visited to my place and within one week they loan processed the loan. Only concern about the rate of interest it can be reduced around 10,99%.
      Was this review helpful? 27
      , chennai
      Reviewed on Sep 17, 2019
    • IDBI
      "Good for banking purpose"
      0.5 4.0/5 "Great!"
      My salary account is in IDBI thats the reason i choose the loan from IDBI bank. They have provided me a interest rate of 11% and the processing fee is Rs. 2500 nearly. They have sanctioned the loan in 1 week. They have approved me a loan amount of Rs. 1.25 lakhs and I'm paying the EMI of Rs. 5000 every month. I have chosen the tenure period of 18 months.
      Was this review helpful? 25
      , bangalore
      Reviewed on Sep 07, 2019
    • IDBI
      "Can do better on the interest"
      0.5 5.0/5 "Blown Away!"
      IDBI loan experience is good because I am an existing customer, there was no documentation since I am a kyc customer. I took Rs. 4 lakhs for the loan period of five years. I got the higher interest around 12 to 13% for the personal loan, it would great if they reduce it.
      Was this review helpful? 27
      , greater noida
      Reviewed on Aug 26, 2019
    • IDBI
      0.5 5.0/5 "Blown Away!"
      IDBI has offered me a personal loan. The process to get the loan is good and they processed the loan on time and as required. The rate of interest and processing charges is nominal. The after loan services are also hassle free. In all good and satisfactory.
      Was this review helpful? 15
      , pune
      Reviewed on Aug 07, 2019
    • IDBI
      0.5 4.0/5 "Great!"
      The interest rate is little higher for the personal loan when compared to other banks. I have taken this loan in IDBI BANK before 1.5 years. I am very much satisfied with the loan process. The loan duration is 1.5 years and they did charge some processing fee which was pretty reasonable. They requested for few hard copy for processing the loan.
      Was this review helpful? 12
      , bangalore
      Reviewed on May 13, 2019
    • IDBI
      0.5 4.0/5 "Great!"
      I took one personal loan from IDBI bank , and their customer service is good and response is also good , my loan amount is 2L and EMI amount is 6818k and tenure is 3yearsand rate of interest is nominal , last one years back I have taken this personal loan,
      Was this review helpful? 21
      , bangalore
      Reviewed on Apr 16, 2019
    • IDBI
      "Suitable personal loan in emergency time"
      0.5 4.5/5 "Excellent!"
      I am a salary account holder in IDBI bank . Based on my profile , IDBI offered me a personal loan up to my expectation . Within 5 days of time . I got more than 3 lakhs with the ROI is less than 16.5 % and for a tenure of 48 months . In IDBI , i got a good customer service.
      Was this review helpful? 29
      , bangalore
      Reviewed on Mar 09, 2019
    • IDBI
      "Nice experience"
      0.5 4.0/5 "Great!"
      IDBI is good in the personal loan process. I was contacted on time and collected the documents. They offered a good deal on the rate of interest and processing charges when compared to the other banks. The after loan services is also good and satisfactory.
      Was this review helpful? 17
      , chennai
      Reviewed on Jan 31, 2019
    • IDBI
      "Average loan service"
      0.5 4.0/5 "Great!"
      I taken my personal loan with IDBI 10 months back. Loan amount got sanctioned the delay of 10 amount. I have applied the amount of Rs. 3 lakhs for that they have offered me a interest rate of 13% which is higher and I'm not satisfied with it. I selected the tenure period for 2 years. I have been paying the EMI of 13 K every month. I make the payment through ECS.
      Was this review helpful? 23
      , bangalore
      Reviewed on Dec 05, 2018
    • IDBI
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The IDBI bank has mingled with the AIR CORPORATION EMPLOYEES BANK,which has approved me a personal loan and they have disbursed the loan amount on time. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are average with the AIR CORPORATION EMPLOYEES BANK.
      Was this review helpful? 31
      , mumbai
      Reviewed on Jan 29, 2018
    • IDBI
      "Good service"
      0.5 4.0/5 "Great!"
      The customer service is better with IDBI bank,when compared with HDFC and ICICI banks . The rate of interest is nominal with IDBI when compared with other banks. The part payment is available with IDBI bank. I am satisfied with the IDBI service
      Was this review helpful? 32
      , new delhi
      Reviewed on Oct 09, 2017
    • IDBI
      0.5 3.0/5 "Satisfactory"
      IDBI is okay in the rate of interest. I got the interest rate of 14% for the personal loan with the processing fee of 800 of the loan amount. Documentation process is very simple and it is surely a recommendable bank. Even they maintain good customer service.
      Was this review helpful? 28
      , ahmedabad
      Reviewed on Sep 20, 2017
    • IDBI
      "Best bank"
      0.5 5.0/5 "Blown Away!"
      The executive was very knowledgeable at IDBI. When I applied for a personal loan, I only had to send him one email with all the necessary documents. From my statements to my ID and address proof and income proof as well. The process was smooth and I got the loan on time without any issues, unlike the experience I had at PNB housing finance.
      Was this review helpful? 20
      , faridabad
      Reviewed on Aug 05, 2017
    • IDBI
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      About fifteen years ago I had taken the personal loan from IDBI bank. The interest rate for the personal loan is around 15.5%. Document part is very simple and the bank sanctioned the loan amount on time. I am very much happy with IDBI for the personal loan.
      Was this review helpful? 22
      , indore
      Reviewed on Jun 22, 2017
    • IDBI
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      IDBI is good in the rate of interest. I got the interest rate of 9.8% for the personal loan with the processing fee of 1% of the loan amount. Documentation process is very simple and it is surely a recommendable bank. Even they maintain good customer service.
      Was this review helpful? 27
      , bangalore
      Reviewed on May 27, 2017
    • IDBI
      0.5 5.0/5 "Blown Away!"
      I got the personal loan with the IDBI and they have provided me around 13% as interest rate . Customer service is good and the processing charges were around 3500 Rupees , which does not inclusive of insurance . The loan amount got disbursed to my account within ten days of time.
      Was this review helpful? 29
      , hyderabad
      Reviewed on May 26, 2017
    • IDBI
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from IDBI and it was a smooth process. I got a good offer on the rate and charges and the process was very clear and on time. I also got the loan I was needing and the after loan services was also smooth. The documentation was also nominal.
      Was this review helpful? 24
      , kolkata
      Reviewed on Dec 27, 2016
    • IDBI
      "Dont apply before a year"
      0.5 2.0/5 "Expected more"
      A general piece of advise to all, dont approach IDBI if you dont hold an account with them nor if the age of your account is less than one year. As it happened in my case when I had placed a request for this online I did not get any sort of response from them. When I phoned the bank I got to know that they were unable to process my loan as the age of my account is less than a year.
      Was this review helpful? 22
      , pune
      Reviewed on Oct 17, 2016
    • IDBI
      "Easy process for loan"
      0.5 5.0/5 "Blown Away!"
      I am a existing customer at IDBI Bank. The services are good from them. I have taken a personal loan and it was a simple process. They provided a good rate of interest on the loan. It was of 11.75%. The processing charges was of 1%. It was completed with minimal documentation too.
      Was this review helpful? 50
      , jajpur
      Reviewed on Aug 17, 2016
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