Formerly referred to as just the Industrial Development Bank of India, IDBI Bank is a public sector financial services bank headquartered in Mumbai, Maharashtra. IDBI is one of the 27 commercial banks that the government of India owns. It currently has 1995 branches and 3817 ATMs.
As with any personal loan product, IDBI personal loan is also meant to fulfil any unexpected or expected immediate financial requirement, for instance payment of outstanding credit card dues, home renovation, holiday, medical expenses etc. IDBI offers different types of personal loans in order to meet the unique requirements of different applicants. Personal loans are available to salaried people, self-employed professionals, self-employed nonprofessional or pensioners. You could also avail the loan in the form of an overdraft facility on your salary account. On the other hand, pensioners of IDBI Ltd can avail it in the form of an inbuilt overdraft facility on their pension account.