IDBI Bank Personal Loan Eligibility

General Eligibility

• Salaried persons and pensioners maintaining corporate salary or pension accounts with IDBI Bank branches
• Self-employed professionals and non-professionals having accounts with IDBI Bank
• Confirmed and permanent employees of State and Central Government, PSUs, multinational companies, listed company entities, reputed private limited companies with or without an existing relationship with IDBI Bank

Age Criteria

• Salaried, self-employed persons The minimum age at entry-level should be 21 years, and the maximum at the termination of the loan should be equal to the age of retirement or 60 years, whichever is earlier
• Pensioners and family pensioners The maximum age at the maturity of the loan should not exceed 75 years

Income Criteria

• Salaried Class Minimum net annual income Rs 1.80 Lakhs
• Self-employed professional Minimum annual business income Rs 3.60 Lakhs
• Self-employed non-professional Minimum annual business income Rs 5 Lakhs

Amount Eligibility

• Salaried and self-employed individuals
  • Minimum Rs 50,000
  • Maximum Rs 10 Lakhs
• Pensioners
  • Minimum Rs 25,000
  • Maximum Rs 5 Lakhs

• Range of loan products with and without collateral
• Loans upto Rs 10 Lakhs without any collateral for meeting the personal needs of its customers
• Loans against property and securities are available for individual requirements if the demands are more than Rs 10 Lakhs
• Easy application process online
• Calculate eligibility and prospective online by using the calculators provided on the official site of the bank
• Relaxed eligibility norms make it easy for salaried and self-employed persons to avail of personal loans.
• Flexible products as the borrower can choose between a term loan or an overdraft facility
• Pensioners can also get a built-in overdraft facility on their loans
• Attractive rates of interest
• Affordable processing fees
• Transparency regarding prepayment and other charges
• Top-up facilities available for borrowers with good repayment record
• Free personal accident insurance cover available

Personal Loans Without Collateral

Personal Loans With Collateral

General Eligibility

Permanent and confirmed employees with a minimum service of one year in the following organisations

• State and Central Government departments
• Quasi-Government bodies
• Public limited companies
• Private limited companies
• Multinational companies
• Reputed institutions
• Any other corporate entity approved by the Chief General Manager of the Zone

Age Criteria

• Minimum age 22 years
• Maximum age 58 years

Account Criteria

• Maintain salary accounts with IDBI Bank

Amount criteria

• Maximum of five times the net monthly salary (Previous six months average)

• General Eligibility: All customers having pension accounts with IDBI Bank branches
• Age Criteria: Borrowers age should not be more than 75 years
• Amount Criteria: Five times the net monthly pension.

General Eligibility

• All individuals and non-individuals owning unencumbered property in their names with sufficient income generation to repay the loan

Amount Eligibility

• The maximum amount of the loan is 10 Crores
• Loans above 10 Crores are also possible depending on the merits of the proposal

Maximum funding Loan to Value ratio (Term Loans and Overdraft accounts)

If the applicant is not an existing home loan or LAP customer

• Residential 70%
• Non-residential 60%

If the borrower is an existing home loan or LAP customer

• Residential 75%
• Non-residential 65%

Maximum funding for Interest saver account

• Residential and self-occupied Up to 65% of the market value of the property
• Residential and leased out property Up to 55% of the market value
• Commercial or industrial property Up to 50% of the market value

General Eligibility

• Persons having property situated in the metro, semi-urban, urban, and rural areas who have let it out to PSUs, Government departments, reputed corporate entities, banks, financial institutions, warehouses, multinational companies, and so on
• There should be a registered lease deed or a leave and license agreement

Maximum Funding

• 85% of the value of the property

The maximum amount of loan

• 10 Crores (higher amounts are possible on a case-to-case basis)

Loan assessment

Loan repayment should be over within the residual lease period subject to a maximum of 120 months.

LTV on the future rent receivables

• Lease period up to 3 years 85%
• Lease period >3 and <= 5 years 75%
• Lease period >5 and <=7 years 65%
• Lease period >7 and up to 10 years 55%

General Eligibility

• Indian citizens over 60 years of age
• Married couples are eligible provided one of the borrowers is more than 60 years and the other a minimum of 55 years of age
• Should own and reside in self-acquired or inherited property
• Property should be free from all encumbrances

Amount eligibility

• The maximum amount of Rs 2 Crores

Eligibility Criteria

• Individuals holding Government securities like NSC, KVP, LIC policies, and equity shares in their names

Amount eligibility Margin requirement

• Equity shares 50% of the market value of the dematerialised shares
• Mutual Fund Units 50% of the NAV
• RBI Bonds 5% of the face value of the bond
• LIC policies 15% of the surrender value of the LIC policy
• NSC 20% of the accrued value
• KVP 20% of the accumulated value