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Loan Details

Interest Rate

12% onwards

Processing Fee

1.00% of the sanctioned loan amount

Prepayment

Charges

2% of the outstanding loan amount

Tenure

Up to 5 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest

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IDBI Bank Personal Loan Details

a. Age – For Salaried - 21-60 years

For Self-employed – 21-75 years

b. Credit score: 750 or above

c. Employment Type: Salaried

Self-employed

d. Minimum net income: 1.8 Lakh p.a. (for salaried professionals)

3.6 Lakh p.a. (for self-employed professionals)

5 Lakh p.a. (for self-employed non-professionals)

e. Work experience: For salaried- 1 years of job stability

For self-employed- 2 years of business stability 


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According to the applicant’s profile, various documents are needed for personal loan. These documents may vary for salaried and self-employed individuals. The common documents that you need to submit are:

  • Duly-filled loan application
  • Two passport-sized photographs
  • Identity proof –Aadhar card, passport, PAN card, employee ID card or other valid proof
  • Address proof – Aadhar card, electricity bill, telephone bill or other valid proof
  • Income proof – Last two years’ ITR/Form-16, last three months’ salary slip, last 6 months’ bank statement
  • Last one year’s employment continuity certificate from the employer
  • A copy of the PAN card
  • Any other document requested by the bank to determine the eligibility



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The loan verification proceeds in the following stages:

1. Fill the IDBI Bank Personal Loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. You can do this process quickly on Apnapaisa.com.

2. A customer care representative will contact you within 24 hours to schedule document collection (if you have chosen offline submission).

3. IDBI Bank officials will check your application and documents for eligibility.

4. After the approval of the loan, you will need to sign the loan agreement containing details such as interest rate, loan amount, tenure, repayment, fee and charges. You will also get a copy of this agreement for your records.

5. The approved loan amount will be disbursed to your bank account.


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IDBI Bank Personal Loan interest rate starts from 12% onwards.