IDBI Bank Personal Loan
IDBI bank, a well reckoned financial institution, is offering an attractive personal loan scheme at affordable interest rate. Idbi bank personal loan is a kind of a financial solution, which is designed to meet innumerable personal requirements of the salary holders with idbi bank Ltd. Yes! That’s true! This amazing personal finance scheme is exclusively offered for those individuals who have a salary account with idbi bank.
Under this idbi personal finance option, an individual can avail minimum loan amount of rs. 25,000 and maximum loan amount of rs. 5, 00,000. In order to avail the finance under this finance scheme, a candidate’s personal loan eligibility matters. Loan eligibility is usually determined by several factors and income is one of those important factors. An individual’s minimum net salary should be rs. 15,000 and maximum rs. 25,000 while applying for the loan. There will be no prepayment charges levied on you if you choose to prepay the loan amount and set off your loan liability sooner than the tenure period.
Loan tenure period of minimum 12 months and maximum of 36 months is offered. If we talk about personal loan interest rate, then, without collateral or security, loan is offered at the fixed rate of interest of 15% per annum. Usually, there is no requirement of any collateral or security subjected to the credit profile of the loan borrower. With this personal finance scheme, finance is offered at only 13% of fixed interest rate per annum with collateral security.
Collateral security means govt. securities or public sector bonds or units of UTI, NSC, KVP, surrender value of LIC policy, bank deposit and likewise. The minimum value of this offered security or collateral should be at least equivalent of the loan amount you have borrowed.
