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IDBI Bank Personal Loan EMI Calculator, Jun 2021

Last Updated 08th Jun 2021

  • Personal loan EMI in IDBI Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • IDBI Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,224 per lakh on IDBI Bank personal loan as calculated using the lowest interest rate of 12.00% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on IDBI Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,885₹ 3,321₹ 2,224
₹ 5 Lakh₹ 44,424₹ 16,607₹ 11,122
₹ 10 Lakh₹ 88,849₹ 33,214₹ 22,244

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Personal Loan EMI Calculator IDBI

IDBI Bank Personal Loan EMI is a fixed amount of money paid by you to IDBI Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your IDBI Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator IDBI. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use IDBI Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for IDBI Bank personal loan which can range between 12.00% to 13.50%.
  • Compare IDBI Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from IDBI Bank with that of leading banks in India using the same loan amount of upto ₹ 10 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on IDBI Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from IDBI over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at IDBI or balance transfer to another bank.

IDBI Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on IDBI Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of IDBI Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 12.00%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right IDBI Bank personal loan plan for you.Personal Loan EMI is calculated for IDBI for different loan amounts and tenures at the rate of 12.00%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,707 ₹ 3,321 ₹ 2,224
3 Lakh ₹ 14,122 ₹ 9,964 ₹ 6,673
5 Lakh ₹ 23,537 ₹ 16,607 ₹ 11,122
10 Lakh ₹ 47,073 ₹ 33,214 ₹ 22,244

Factors Affecting IDBI Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. IDBI Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 10 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. IDBI Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by IDBI Bank is 12.00%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in IDBI Bank. So, your EMI will be lower if you take a 60months loan from IDBI Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of IDBI Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
IDBI Bank12.00% ₹ 8,885 ₹ 44,424 ₹ 88,849
Canara Bank 12.40% ₹ 8,904 ₹ 44,518 ₹ 89,036
Syndicate Bank 12.40% ₹ 8,904 ₹ 44,518 ₹ 89,036
Bajaj Finserv 12.99% ₹ 8,931 ₹ 44,656 ₹ 89,313
HDB Financial 13.00% ₹ 8,932 ₹ 44,659 ₹ 89,317

IDBI Bank Personal Loan Amortization Calculator

IDBI Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. IDBI Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3 Lakh for 4 years from IDBI Bank at an interest rate of 12.00%. EMI calculated for this loan amount is ₹ 7,900 and the total annual EMIs to be paid annually is ₹ 94,802. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 19,954 ₹ 35,347 ₹ 55,301 ₹ 2,64,653
2022 ₹ 28,173 ₹ 66,629 ₹ 94,802 ₹ 1,98,023
2023 ₹ 19,722 ₹ 75,079 ₹ 94,802 ₹ 1,22,944
2024 ₹ 10,201 ₹ 84,601 ₹ 94,802 ₹ 38,343
2025 ₹ 1,158 ₹ 38,343 ₹ 39,501 ₹ 0

In the above illustration, on a IDBI Bank Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 12.00, EMI paid is ₹ 7,900 and an annual total of EMIs is ₹ 94,802, the interest component is ₹ 32,656 while the principal component is ₹ 62,146 in year 1 of loan disbursement. You repay only 20.72% of the total principal after paying 12 EMIs during the first year.

IDBI Bank Personal Loan Interest Calculator Formula

IDBI Bank calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how IDBI Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.IDBI Bank personal loan amount can range from ₹ 50,000 to ₹ 10 Lakh.

r = Rate of interest per month. The current IDBI Bank Personal Loan rate is 12.00%.
n = Tenure in month. This can range up to 60months in case of IDBI Bank.

How to use IDBI Bank Personal Loan EMI Calculator

  • IDBI Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • IDBI Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

IDBI Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows IDBI Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 12.00%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00012.00% 1₹ 8,885
₹ 1,00,00012.00% 2₹ 4,707
₹ 1,00,00012.00% 3₹ 3,321
₹ 1,00,00012.00% 4₹ 2,633
₹ 1,00,00012.00% 5₹ 2,224

IDBI Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows IDBI Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 12.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00012.00% 1₹ 26,655
₹ 3,00,00012.00% 2₹ 14,122
₹ 3,00,00012.00% 3₹ 9,964
₹ 3,00,00012.00% 4₹ 7,900
₹ 3,00,00012.00% 5₹ 6,673

IDBI Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows IDBI Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 12.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00012.00% 1₹ 44,424
₹ 5,00,00012.00% 2₹ 23,537
₹ 5,00,00012.00% 3₹ 16,607
₹ 5,00,00012.00% 4₹ 13,167
₹ 5,00,00012.00% 5₹ 11,122

IDBI Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows IDBI Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 12.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00012.00% 1₹ 88,849
₹ 10,00,00012.00% 2₹ 47,073
₹ 10,00,00012.00% 3₹ 33,214
₹ 10,00,00012.00% 4₹ 26,334
₹ 10,00,00012.00% 5₹ 22,244

How to Pay IDBI Bank Personal Loan EMI?

There are various online & offline methods to pay your IDBI Bank Personal Loan EMI. To repay your IDBI Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of IDBI Bank. IDBI Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest IDBI Bank branch.

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FAQs

Why should I calculate IDBI loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your IDBI Bank personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by IDBI Bank on a personal loan?

IDBI Bank offers a personal loan at a 12.00% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,224. However, IDBI Bank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close IDBI Bank personal loan?

You can pre-close your IDBI Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on IDBI Bank ?

IDBI Bank offers you an option of prepayment after 1 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from IDBI Bank?

Yes, IDBI Bank charges a certain amount of processing fee to process your loan application. Currently, IDBI Bank charges a processing fee of 1.00% on a Personal Loan.

Will I get a personal loan from IDBI Bank if I have a bad credit score?

No, for taking a loan from IDBI Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high IDBI Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in IDBI Bank Bank?

At the current rate of 12.00%, EMI on IDBI Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 1,89,119, ₹ 2,00,924 and ₹ 2,38,554 respectively.

Can I have a co-applicant while applying for a Personal loan with IDBI Bank ?

Yes, you can opt for a co-applicant to take a personal loan from IDBI Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in IDBI Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your IDBI Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my IDBI Bank loan EMI?

You can pay the IDBI Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

IDBI Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-200-1947
Ahmedabad 1800-200-1947
Ambala 1800-200-1947
Anand 1800-200-1947
Aurangabad Bihar 022 2207 8732
Bangalore 080 2238 6757
Bhilai 1800-200-1947
Bhilwara 1800-200-1947
Bhiwadi 1800-200-1947
Bhopal 1800-200-1947
Bhubaneswar Cuttack 1800-200-1947
Bikaner 1800-200-1947
Chandigarh 1800-200-1947
Chennai 044 4303 6648
Cochin 1800-200-1947
Coimbatore 1800-200-1947
Dehradun 1800-200-1947
Delhi 011 2399 4348
Durg 011 2399 4348
Faridabad 011 2399 4348
Gandhinagar 022 2207 8732
Ghaziabad 0120 270 0798
Goa 0832 242 6525
Greater Noida 0120 270 0798
Gurgaon 0120 270 0798
Guwahati 1800-200-1947
Gwalior 1800-200-1947
Hyderabad 040 6690 8171
Indore 1800-200-1947
Jabalpur 1800-200-1947
Jaipur 1800-200-1947
Jalandhar 1800-200-1947
Jodhpur 1800-200-1947
Kanpur 022 2207 8732
Karnal 1800-200-1947
Kolhapur 022 2207 8732
Kolkata 033 2568 6253
Kota 1800-200-1947
Kozhikode 1800-200-1947
Lucknow 1800-200-1947
Ludhiana 1800-200-1947
Madurai 1800-200-1947
Meerut 1800-200-1947
Mehsana 1800-200-1947
Mohali Sas Nagar 1800-200-1947
Mumbai 022 2207 8732
Mussoorie 1800-200-1947
Nagpur 022 2207 8732
Nashik 022 2207 8732
Noida 0120 270 0798
Noida Extn 0120 270 0798
Panipat 1800-200-1947
Patna 1800-200-1947
Pondicherry 1800-200-1947
Pune 020 6603 0300
Raipur 1800-200-1947
Rajkot 1800-200-1947
Ranchi 1800-200-1947
Rohtak 1800-200-1947
Roorkee 1800-200-1947
Salem 044 4303 6648
Shimla 1800-200-1947
Sonipat 1800-200-1947
Surat 1800-200-1947
Trichy 1800-200-1947
Udaipur 1800-200-1947
Vadodara 1800-200-1947
Varanasi 1800-200-1947
Vijaywada 1800-200-1947
Vizag 1800-200-1947

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IDBI Personal Loan News - Jun 2021
  • 2021-05-25 : IDBI Bank introduced a digital loan processing system
    IDBI Bank launched its fully digitised loan processing system. This will offer over 50 products to MSME and the agriculture sector. The Loan Processing System for MSME and Agri products seamlessly integrate with data fintech, bureau validations, document storage, account management and customer notifications.
  • 2021-01-15 : IDBI Bank reported Rs 378-crore profit
    IDBI Bank posted a net profit of Rs 378 crore for the December quarter. The loans which includes home, LAP, personal, car, two-wheeler, gold, education and doctor loan along with business and mudra loans fell 7% to Rs 1.6 lakh crore (y-o-y) in December 2020. The bank’s total deposits which includes fixed and recurring deposits rose 2.85% y-o-y to Rs 2.24 lakh crore at the end of December 2020. In addition to this, CASA improved to 48.97% as on December 31, 2020.
  • 2020-10-20 : IDBI Bank launched banking services on WhatsApp
    IDBI Bank launched the banking service on WhatsApp. WhatsApp Banking service will be offered through a dedicated WhatsApp verified number. The bank customers will be able to avail various essential banking services such as account balance information, last five transactions, request for a cheque book and an email statement through newly launched WhatsApp banking services. Further, the details of the nearest IDBI Bank branches or ATMs will also be available via WhatsApp.
  • 2020-09-29 : IDBI Bank becomes the first bank to enable document embedding feature on SFMS
    IDBI Bank has become the first Bank to enable document embedding feature on a structured financial messaging system managed by IFTAS. The new feature will ease the current process of manual verification, reconciliation, reduce frauds, and enable documentary evidence for all the parties involved in the transaction
  • 2020-07-28 : IDBI Bank reported Q1 net profit of ₹144 crore
    IDBI Bank reported Rs 144 crore net profit for June quarter on account of a reversal of Rs 1335 crore of bad loan provisioning. It is IDBI second successive net profit after 13 consecutive quarters of loss. CASA increased to ₹ 1,04,315 crore and cost of deposit which includes fixed and recurring deposits improved by 64 bps to 4.65%. In addition to this, NII bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans stood at ₹ 1,773 crores.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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