IDBI Bank Flexi Loan

IDBI Bank Flexi loan is a type of multi-purpose personal loan. As the name implies, it provides enhanced flexibility to choose your loan amount, tenure, and repayment mode. This handy credit option is ideally available for personal or professional needs, such as home renovation, business travel, rent payment, automotive repair, medical emergencies, etc. However, there are significant differences between the typical Flexi personal loan and the IDBI Bank Flexi loan, a distinction often misunderstood, leading to incorrect applications for many individuals. 

To assist you in making an informed choice, Urban Money delivers a detailed overview of the IDBI Bank flexible personal loan. We present the expected features and benefits, applicable eligibility criteria and documentation, associated fees and charges, the pertinent application process, and more. Continue scrolling down for more information.

Features and Benefits of IDBI Bank Flexi Personal Loans

The following are the relevant features and benefits of the IDBI Bank Flexi loan: 

• Flexible repayment methods  
• Multipurpose credit option 
• Hassle-free loan application 
• Quick fund disbursement  
• No collateral required 

IDBI Bank Interest Rate for Flexi Personal Loan

Let’s examine the IDBI Flexi loan interest rate and other key factors you might be aware of before initiating your loan application:

Eligibility Criteria

Here are the expected eligibility criteria for an IDBI Bank Flexi loan apply online/offline: 

• Age: Must be between 21 and 60 years for salaried individuals; between 25 and 65 for self-employed individuals.
• Income: Salaried individuals must earn at least Rs. 1,80,000 per annum; self-employed individuals must have an annual income of Rs. 5,00,000.
• Credit Score: Both salaried and self-employed individuals require a good credit score and a positive repayment history.
• Nationality: Applicants must be Indian citizens.  

Documents Required for an IDBI Bank Flexi Personal Loan

IDBI Bank Flexi loan documentation is as follows: 

• Identity proof includes your PAN card, driver’s license, passport, Aadhaar card, or any government-issued documents with photo attestation.
• Residence proof includes your ration card, voter’s ID, or utility bills showing your current address. 
• Income proof includes your latest salary slip, form no.16, and the last six month’s bank statement.

Difference Between Term Loan and Flexi Loan

Following are the key differences between a term loan and a flexi-loan: 

How to Apply for an IDBI Bank Flexi Personal Loan Online at Urbanmoney?

You can apply for an IDBI Bank Flexi loan by following the simple steps given below:

• Step 1: Go to the official website of Urban Money
• Step 2: Locate the “Loan” option from the horizontal menu bar on the home screen and choose “Personal Loan.”
• Step 3: You will be directed to a new page titled “Personal Loan,” where you can see an array of lenders who offer flexi personal loans. 
• Step 4: Find “IDBI Bank” as you scroll down the page and click the “Enquire Now” button.
• Step 5: A short digital form will appear on your screen. You must enter your name, mobile number, and city in it.
• Step 6: A 6-digit OTP will be sent to your entered mobile number.
• Step 7: Add the OTP and tap the “Submit” button. Thus, our loan specialist will contact you within a day or two about your chosen lander.