IDBI Bank offers best personal loan at minimum interest rate. IDBI Bank personal loan eligibility criteria are as follows:-
1.Age – The minimum age requirement for availing a personal loan is 22 years and maximum age is 60 years.
2.Net Income – Your net income required to avail a personal loan is ₹ 20,000 per month.
3.FOIR – FOIR (Fixed Obligation to Income Ratio) is an important parameter that IDBI Bank uses to find out your IDBI Bank personal loan eligibility. IDBI Bank takes all your fixed obligations (like rent or current EMIs) into account while estimating your eligibility. Minimum FOIR required to be eligible for personal loan from IDBI Bank is 0.45.
4.Co-applicant – Adding a co-applicant increases your eligibility for a personal loan as it increases your repayment capacity. Ensure that you add a co-borrower who has good income flow, limited fixed obligations and a strong credit score.