Home
Personal Loan
Idbi Bank
IDBI Bank Government Employees Personal loan

IDBI Bank Government Employees Personal loan

IDBI Bank personal loan for government employees is designed specifically as a financial solution that aims to meet the diverse needs of government personnel, whether it's for emergency expenses, education, home renovation, or other personal goals. With competitive interest rates, minimal documentation, and a streamlined approval process, IDBI Bank ensures that government employees can access funds quickly and with ease. The bank's focus on this demographic underscores its commitment to providing customised banking solutions, highlighting the understanding of government employees' unique financial stability and needs.

Get in Touch for Personal Loan Expert Advice

Connect with our Personal Loan Advisor Now!

Personalized Personal Loan solutions
Expert guidance
Application assistance
Credit score discussion
Personal Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. IDBI Bank Personal Loan for Government Employees Highlights

2. Compare IDBI Bank Government Employees Personal Loan from Other Banks

3. Fees and Charges for IDBI Bank State Employees Personal Loan

4. IDBI Bank Personal Loan for Government Employees Documents Required

5. IDBI Bank Personal Loan Eligibility for Government Employees

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

IDBI Bank Personal Loan for Government Employees – Highlights

Take a look at the highlights for IDBI Bank Personal Loan for government employees:-

Interest Rate	12.9% (Average)
Processing Fees	1% of the loan amount plus applicable taxes
Loan Tenure	12-60 Months
Minimum Salary	₹1,80,000
Loan Amount	₹25,000-₹5,00,000
Guarantor Requirement	No Guarantor Required

Compare IDBI Bank Government Employees Personal Loan from Other Banks

Here is a snapshot of the comparison of IDBI Bank state employees’ loans with those of other banks and financial lenders. Take a look!

Banks/NBFCs	Interest Rates(p.a.)
Axis Bank	10.49% onwards
IndusInd Bank	10.49% onwards
IDBI Bank	12.9% onwards
IDFC First Bank	10.75% onwards
HDFC Bank	10.50% onwards
ICICI Bank	10.80% onwards
Kotak Mahindra Bank	10.99% onwards
Tata Capital	10.99% onwards
Bajaj Finserv	11.00% onwards
Federal Bank	11.49% onwards
DMI Finance	12.00% – 40.00%
L&T Finance	12.00% onwards

Fees and Charges for IDBI Bank State Employees Personal Loan

Here’s a snapshot of IDBI Bank Personal Loan for government employees’ fees and charges.

Charge Type	Period from Disbursement	Charges
Foreclosure Charges	Within 12 months	2% of the remaining balance on the loan
	Between 12 to 24 months	1% of the remaining loan amount
	After 24 months	Nil
Part Payment Charges	Within 6 months	2% of the outstanding loan amount
Part Payment Charges	After 6 months	1) Nil 2) Maximum part payment allowed is 10% of the outstanding loan amount, subject to a minimum of ₹10,000 3) Part payment allowed up to 3 times in a year, with a minimum interval of 90 days between payments.

IDBI Bank Personal Loan for Government Employees – Documents Required

The following documents are required for government employees to obtain an IDBI Bank Personal Loan.

Recent salary slips
Identity proof – Passport, Driver’s licence, Aadhar Card, Voter ID Card
A salary certificate dated currently, along with the latest Form 16
Latest Income Tax Return (ITR) or Form 16

IDBI Bank Personal Loan Eligibility for Government Employees

The following are the IDBI Bank personal loan eligibility criteria for state employees.

Employment Criteria: Must be a permanent employee with at least one year of uninterrupted service in Public Sector Units (PSUs), Government/Semi-Government/Quasi-Government bodies, Public Limited Companies, Private Limited Companies, Multinational Companies, Reputed Institutions, Eligible for salaried customers with a salary account at IDBI Bank.
Salary Requirements: Minimum annual income of Rs. 1,80,000.