1 / 4

Apply IDBI Bank Personal Loan @ affordable Interest Rate

IDBI Bank offers a personal loan under different categories. IDBI Bank personal loan interest rates vary based on type of applicants. IDBI Bank personal loan interest rate for salaried employees, pensioners and SEP/ SENP start from 12.25%, 12% and 13% respectively. The loan repayment tenure ranges from 1 year to 5 years. <br>https://www.afinoz.com/idbi-bank/personal-loan-interest-rate<br>

amirazam
Download Presentation

Apply IDBI Bank Personal Loan @ affordable Interest Rate

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Description IDBI Bank personal loans can be obtained for multiple personal expenses like your child’s 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.

  2. 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 would have a good credit score.  • The repayment capacity of the applicant: While determining youreligibility 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. 

More Related