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.
IDFC First Bank Online Personal Loan Details
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 |
IDFC Personal Loan Interest Rates & Charges
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. |
Note: The current rates may vary marginally and are inclusive of other charges.
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Multi-Purpose IDFC Bank Personal Loan
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:
IDFC Small Loans
- Access funds during financial emergencies quickly with IDFC small loan.
- Interest rates start at 10.49%
- Convenient loan tenure of up to 60 months
IDFC Personal Loan For Travel
- The personal loan for travel can be used to fund your dream vacation.
- The loan tenure ranges from 6 months to 60 months.
- The interest rate is 10.49% p.a.
IDFC Personal Loan For Marriage
- The IDFC Bank personal loan for weddings provides financial support for your special day.
- The loan amount ranges from ₹20,000 to ₹1 crore
- Enjoy a competitive interest rate of 10.49% p.a.
IDFC Personal Loan For Medical Expenses
- Apply for an IDFC medical loan for medical emergencies.
- Get high loan amounts up to ₹1 crore for your medical expenses.
IDFC Personal Loan For Emergency
- The IDFC Bank personal loan for emergencies provides financial assistance for unforeseen costs like medical bills or vehicle repairs.
- Minimum age of 21 years and a maximum age of 60 years.
IDFC Debt Consolidation Loans
- Integrate all your debts into a single loan with IDFC Debt Consolidation Loans.
- No collateral or security required
IDFC First Bank Personal Loan EMI Calculation
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.
Comparison of IDFC First Personal Loan Vs Other Banks
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% |
| IndusInd | 11.00% | 2.5% onwards |
| Yes Bank | 10.99% per annum onwards | 2.50% (one-time fee) |
| Shriram City | 11.49% to 23% | 2.50% |
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IDFC First Bank Personal Loan Eligibility
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.
IDFC Eligibility For Salaried Individuals
| Factors | Eligibility Criteria |
|---|---|
| Age | Between 23 and 60 years old |
| Monthly Income | Minimum ₹20,000 per month |
| Work Experience | Should be employed for minimum 1 years |
IDFC Eligibility For Self-Employed Individuals
| Factors | Eligibility Criteria |
|---|---|
| Age | Between 25 and 60 years old |
| Work Experience | Business must have been in existence for at least 3 years. |
Features of IDFC Personal Loan
Here are some features and benefits that make IDFC personal loan stand out from the competition:
IDFC First Bank Personal Loan Documents Required
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).
4 Easy Steps to Apply for IDFC Personal Loan with Buddy Loan
Steps To Apply For a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
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IDFC Personal Loan Prepayment & Preclosure
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.