IDBI Bank - Personal Loan Interest Rates | EMI Calculator | Loan Comparison - Afinoz

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IDBI BANKPERSONAL LOAN INTEREST RATES2021
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• About IDBI Bank Personal Loan
• IDBI Bank personal loans can be obtained for
  multiple personal expenses like your childs
  higher education, home renovation, credit card
  bill payment, wedding, vacation,etc. The bank
  offers to all types of applicants including
  salaried individuals, self-employed professionals
  and non-professionals, and pensioners. IDBI Bank
  personal loans interest rates start from as low
  as 8.90 and the loan repayment tenure ranges
  from 1 year to 5 years. 
• IDBI Bank personal loan interest rates 2021
• IDBI Bank offers a personal loan under different
  categories. Interest rates vary based on the type
  of applicants. IDBI Bank personal loan interest
  rate for salaried employees, pensioners and SEP/
  SENP starts from 9.65, 12 and 13
  respectively. 

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• IDBI Bank personal loan interest rates for
  salaried employees, pensioners, self-employed
  professionals (SEP) and self-employed
  non-professionals (SENP) based on credit score

Credit score Salary/ pension accounts All salaried applicants SEP/ SENP
801 and above 9.65 p.a. 12.25 p.a. 13.00 p.a.
776 to 800 12.25 p.a. 12.50 p.a. 13.50 p.a.
740 to 775 13.25 p.a. 13.50 p.a. 14.00
700 to 739 applicable only for corporate relationships like IDBI Bank staff, LIC and its subsidiaries staff, payroll/ salary relationship/ pension accounts 13.50 NA NA
Below 700 NA NA NA
-1 13.25 NA NA
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• Pension account with overdraft facility for
  pensioners of IDBI Bank
• The interest rate for this personal loan and its
  variants are linked to Repo Linked Lending Rate
  (RLLR), starting from 8.55 per annum,for retired
  IDBI staff only.
• Salary/ pension account with overdraft facility
  for others 
• The interest rate for this personal loan and its
  variants are linked to Repo Linked Lending Rate
  (RLLR) or floating rate that starts from 11.30
  per annum for non-IDBI staff.

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What are the factors that affect IDBI Bank
personal loan interest rates?

• Credit score of the applicant You can clearly
  see in the above table that with an increase in
  the credit score, the interest rate is declining.
  Individuals with a good credit score are
  considered responsible and less risky applicants.
  Credit score of an applicant shows how
  responsible he/she is for handling credit. If you
  have a good track record of credit payment in the
  past, you will have a good credit score. 
• The repayment capacity of the applicant While
  determining your eligibility for a personal
  loan and interest rates applicable to it, lenders
  look at your monthly income/ salary/ pension and
  monthly obligation/ liabilities. Your
  debt-to-income ratio should be equal to or less
  than 40 to get a personal loan at lower interest
  rates.
• Relationship with IDBI Bank Relationship with
  IDBI Bank will help you get a personal loan at
  lower interest rates. If Individuals hold a
  salary account or current account with the bank
  for multiple years, chances are that the bank may
  agree to offer you lower interest rates based on
  your previous credit behavior. For example,
  retired employees of IDBI Bank can get a personal
  loan at an interest rate starting from as low as
  8.55 per annum. 
• Loan tenure Interest rates on personal
  loans offered for long terms are usually higher
  than that on short terms. Borrowers can easily
  repay the loan in terms and the lender has less
  risk. You can use IDBI Bank loan Calculator to
  find out the most suitable loan term. 

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• Interest rate in IDBI Bank personal loan EMI
  calculation
• Interest rate plays an important role
  in calculation of EMI. Here is what your EMI will
  be for different interest rates applicable on
  IDBI Bank personal loan.

Loan amount Interest rate Tenure (months) EMI 
Rs. 5 lakh 13.25 48 Rs. 13,475
Rs. 3 lakh 14 36  Rs. 10,253
Rs. 2 lakh 14.50 24 Rs. 9,649
Rs. 1 lakh 14.50 12 Rs. 9,002
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• Interest rate comparison IDBI Bank vs. other
  banks

Bank Interest rate Processing fees Loan amount
IDBI Bank 9.65 p.a. onwards Up to 1 of the loan amount Up to Rs. 5 lakh
ICICI Bank 11.25 - 22 p.a. Up to 2.5 of the loan amount Up to Rs. 20 lakh
HDFC Bank 10.75 p.a. onwards Up to 2.50 of the loan amount Up to Rs. 15 lakh
SBI 9.65 p.a. onwards Up to 1.5 of the loan amount Up to Rs. 20 lakh
Axis Bank 12 24 p.a. Up to 2 of the loan amount Up to Rs. 15 lakh
Bajaj Finserv 13 p.a. onwards Up to 3 of the loan amount Up to Rs. 25 lakh
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• Features of IDBI Bank
• Flexible tenure from 12 to 60 months
• Loan amount up to Rs. 5 lakh
• Easy application and instant approval 
• Loan applicants will be covered under personal
  accident insurance
• You can check IDBI Bank personal loan status,
  EMIs, etc. using financial tools on the banks
  website. 

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