Experience a smooth, and hassle-free solution to fulfill your financial needs and seize opportunities with IDFC Personal Loan. Avail loans of up to Rs. 1 crore at appealing interest rates starting at 10.49% per annum. Benefit from flexible repayment plans spanning up to 5 years. Discover competitive rates and seize opportunities with an IDFC First personal loan.
Get hassle-free and quick approval for an IDFC first Personal Loan from the convenience of your home. Below is a comprehensive breakdown of IDFC first personal loan interest rates.
|Interest rate||Starting at 10.49% p.a.|
|Loan Amount||Rs. 20,000 to Rs. 1 Crore|
|Tenure||Up to 60 Months|
|Minimum Salary||₹15,000 per month|
|Processing Fee||Up to 3.5% of the loan amount|
Enjoy competitive interest rates starting from 10.49% p.a. A processing fee of 3.5% of the loan amount and foreclosure charges ranging from 3.5% may apply. It's important to note that the personal loan interest rates of IDFC First Bank personal loan may vary depending on the loan amount and tenure.
Below is detailed information about IDFC Personal Loan:
|Particulars||Fees & Charges|
|Interest rate||10.49% onwards|
|Processing Fee||3.5% of the loan amount|
|Loan Amount||Up to Rs. 1 crore|
|Income||Minimum salary of ₹15,000 per month|
|Lowest EMI||₹2,149 per month for a loan amount of ₹1 lakh|
|Stamp Duty Charges||As per actuals.|
IDFC Bank offers multi-purpose personal loan options to cater to different financial needs like travel, marriage, and emergencies. Here are some purposes an IDFC Bank personal loan can serve:
Calculate your EMI with the IDFC First Bank personal loan EMI calculator. Use this convenient tool for precise personal loan EMI calculation. Just input your loan amount, interest rate, and tenure to obtain accurate monthly installment figures.
Take control of your financial commitments and confidently manage your budget with the help of the IDFC First Bank personal loan EMI calculator. Gain financial control and make well-informed financial decisions with IDFC personal loan.
|Year||Month||Principal (A)||Interest (B)||EMI (A+B)||Balance||Loan Paid to Date (%)|
The following table highlights the difference in interest rates between IDFC First Personal Loan and loans from other banks.
|Lender||Interest Rates (p.a)||Processing Fees|
|IDFC First Bank||10.49% onwards||3.5% of the loan amount|
|Canara Bank||Starts from 10.65%||1% of the loan amount|
|SBI||10.30%-15.10%||Up to 1.50%|
|HDFC||11.00% onwards||Up to 2.50%|
|ICICI||10.75% onwards||Up to 2.50%|
|Citibank||9.99% to 16.49%||0.25% to 3.00%|
|Axis||10.25% onwards||1.5% to 2%|
|Yes Bank||10.99% per annum onwards||2.50% (one-time fee)|
|Shriram City||11.49% to 23%||2.50%|
To qualify for an IDFC Personal Loan, certain criteria such as age, income, employment, credit history, and residential status are considered. The IDFC First Bank personal loan eligibility calculator helps individuals assess their chances of loan approval and estimate the potential loan amount they may receive.
|Age||Between 23 and 60 years old|
|Monthly Income||Minimum ₹20,000 per month|
|Work Experience||Should be employed for minimum 1 years|
|Age||Between 25 and 60 years old|
|Work Experience||Business must have been in existence for at least 3 years.|
Here are some features and benefits that make IDFC personal loan stand out from the competition:
you can borrow up to ₹1 crore.
The interest rates start at 10.49%.
Loan tenure that ranges from 6 to 60 months.
prepay your loan without any penalty.
Simple documentation process for quick loan approval.
Save time and apply for your loan online
The table below provides an overview of the essential documentation needed when applying for an IDFC Personal Loan:
Identity Proof: PAN Card, Aadhaar card, Voter ID, Driving License, Passport.
Income Proof: Last 3 months' salary slips, Form 16, Income Tax Returns.
Address Proof: Aadhaar Card, Passport, Voter ID Card, Electricity bill, Telephone bill, Credit card statement.
Other Documents: Employment certificate from the current employer, salary mandate from employer, co-applicants documents (if applicable).
Here’s the step-by-step process that you can follow to apply for IDFC personal loan on Buddy Loan:
Step 2 - Fill out the application form including the loan amount, the tenure months, and contact details.
Step 3 - Fill out the eligibility form and provide:
Step 4 - Cross verify the given information and submit the application.
IDFC personal loans offer you the flexibility you need with competitive charges. After 6 EMIs, foreclosure charges are up to 5% of the outstanding balance. Part prepayment is just up to 2% of the part payment amount plus GST.
When opting for full prepayment, charges are up to 5% of the loan amount, including interest from disbursal, and applicable GST.
Ready to take next step ?
To be eligible for an IDFC Personal Loan, you must be a salaried individual between the ages of 23 and 60 with a minimum monthly income of ₹20,000. Also, you must have a good credit score and be an Indian citizen.
Log in to your IDFC First Bank NetBanking or Mobile Banking account and check the status under the Loans section. Or call the IDFC First Bank customer care number and provide your loan application number to check the status.
Interest rates offered by IDFC First Bank for Personal Loans start at 10.49% to 25%, depending on the loan amount, repayment tenure, and the borrower's credit score. The interest rate is also subject to change at any time.
Yes, self-employed individuals can apply for an IDFC Personal Loan.
IDFC First Bank generally disburses personal loans within 24-48 hours of approval.
Display of trademarks, tradenames, logos, and other subject matters of Intellectual Property displayed on this website belongs to their respective intellectual property owners & is not owned by Bvalue Services Pvt. Ltd. Display of such Intellectual Property and related product information does not imply, Bvalue Services Pvt. Ltd company’s partnership with the owner of the Intellectual Property or proprietor of such products.
Please read the Terms & Conditions carefully as deemed & proceed at your discretion.