IDBI Bank Personal Loan

IDBI Bank Personal Loan Features

Why IDBI Bank Personal Loan

Features of IDBI Bank Personal Loan

1. Know your personal loan eligibility in 1 minute, available online and across all branches.
2. Highly competitive interest rates for personal loans.
3. Get instant approval for your loan
4. Special personal loan offers* for women employees.

IDBI Bank Personal Loan Documents

Documents Required for IDBI Bank Personal Loan

Simple and easy documentation for personal loans (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.

1. Proof of identity: Copy of passport/voter ID card/driving license
2. Last 6 months bank statements
3. Latest 3 salary slips
4. PAN Card copy
5. Proof of address: Copy of ration card/telephone or electricity bill/rental agreement/passport
6. Photographs

IDBI Bank Personal Loan Eligibility

A personal loan is known as FINANCE money that you borrow from a bank or other financial organization for your personal, rather than business Personal Loan Eligibility Criteria

Regular Income Group: This category includes salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings including central, state and local bodies.

Eligibility Criteria:

1. Age: 21-60 years.
2. Employment: Minimum 1 year of current experience
3. Earning: Minimum income: Rs. 15,000/- per month net income

Not everyone can apply for a personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant’s request. There are two categories of applicants:

1. Salaried
2. Self-employed

There are various eligibility criteria for both applicants.

Salaried Applicant:

1. The minimum required age of an applicant must be between 21 years to 60 years.
2. A metropolitan city borrower should have a minimum income of Rs 18,000. And for the non-metropolitan city, the minimum salary should be Rs 12,000.
3. The work experience of the borrower should be of three years, and the salary should be received in their account only.
4. A person applying for a personal loan should have a good credit history.

Self-employed Applicant:

1. The required age of a self-employed person should be of 25 years.
2. The person should file ITR for the last three years, applying for a personal loan.
3. An applicant must have a good credit score must, and there should not be any debt left due.
4. The minimum amount should be of Rs 2.5 lakhs per annum at least.
5. The business should be running for at least from the last three years if the applicant owns a business.