IDBI Bank Personal Loan

IDBI (Industrial Development Bank of India) Bank is one of the largest private commercial bank in India with its headquarters in Mumbai. Apart from banking and finance domain, it has huge presence in capital market, mutual funds and investment banking. As of March 2012, IDBI Bank had a strong presence in India with over 973 branches across the country.

IDBI Bank offers personal loan only to the salary account holders with the IDBI Bank. IDBI personal loan is available for any personal needs like marriage, education, vacations, medical expenses or any other urgent needs.

The minimum loan amount one can apply is Rs. 50,000/- and maximum being Rs. 5,00,000/- . To be eligible for IDBI personal loan, the borrower has to have a net monthly income of Rs. 15,000/- to Rs. 25,000/- and the IBI personal loan can be repaid within a period of 12 to 36 months by way of equated monthly installments (EMI).

The bank charges a processing fee of 2.25% of loan amount and does not levy any penalty on foreclosure of IDBI personal loan.