IIFL Finance is an RBI-approved NBFC that is trusted by thousands of borrowers. IIFL Finance personal loans are customized to meet your specific needs including medical expenses, marriage funds, vacation purposes, home renovation, and many more. Enjoy a collateral-free loan at an affordable interest rate of 12.75% p.a. and a tenure extending up to 42 months.
Keep reading to know all about IIFL instant loans and apply online.
You can easily avail a personal loan from IIFL with just a few clicks. Here are some crucial factors to consider when choosing an IIFL personal loan:
|IIFL Personal Loan Interest Rate
|12.75% p.a. onwards
|Up to ₹5 Lakhs
|2% - 6% + GST
|3 to 42 months
The IIFL personal loan interest rate significantly affects how profitable, competitive, and sustainable it is. IIFL offers a range of interest rates, typically from 12.75% to 44% per year, depending on factors such as your income credit history, and loan tenure.
|IIFL Finance Interest Rates
|12.75% - 44% p.a. (reducing balance interest rate)
Before applying for a personal loan, it's crucial to have a clear understanding of all associated fees, which can include processing fees, prepayment charges, and more. To get a comprehensive view of IIFL Personal Loan fees and charges, refer to the table below:
|2% - 6% + GST
|3 to 42 months
|Up ₹5,000 to ₹5 Lakhs
To secure a loan approval on the application with IIFL, you need to meet specific eligibility criteria such as your age and income. Discover the detailed IIFL Finance personal loan eligibility criteria in the table below:
Not sure of your credit score? Check now for free!
In order to obtain approval for your IIFL personal loan, you'll need to furnish a set of essential documents for the purpose of verification. The necessary documents for applying for an IIFL personal loan include:
|Proof of Identity
|PAN card, Aadhaar card, Driver's license, along with a selfie.
|Proof of Income
|3 months bank statement.
|Debit card or Net Banking details, eSignature or eStamp.
Before getting a loan, the first step is to calculate your monthly payment and plan how to pay it comfortably. You can use the EMI calculator here to find out your estimated monthly payment for IIFL personal loan. Just enter the loan amount, interest rate, and the loan term, and it will display you the result.
|Loan Paid to Date (%)
You can determine your EMI with this mathematical formula:
EMI=P * r * (1 + r)n(1 + r)n-1
In this equation:
Compute your EMI by substituting these variables with their respective values.
The market is saturated with a plethora of lenders, offering borrowers an abundance of choices. However, it is crucial to assess and compare these lenders, including both banks and Non-Banking Financial Companies (NBFCs), before applying for a loan. This ensures that you select the most suitable lender that is aligned with your specific financial requirements.
The table below shows how IIFL personal loan interest rates compare to those of other banks & NBFCs.
|INTEREST RATE (p.a.)
|12.75% - 44%
|Flex Salary Personal Loan
|HDB Financial services
|Paysense Personal Loan
|Fibe Personal Loan
|Bajaj Finance Personal Loan
|HDB Financial Services Ltd.
|17.50% - 26%
|Indian Overseas Bank Personal Loan
|Axis Bank Personal Loan
|IDFC First Bank Personal Loan
|Standard Chartered Personal Loan
Read LessNote- The interest rates mentioned are subject to change. Do visit the website for more information.
Personal loans from IIFL can provide you with fast access to cash. Here are some reasons why:
Get loan approved in a matter of hours
The interest rates start at 12.75% p.a.
Tenure that ranges from 3 - 42 months
No need to risk your assets for a loan.
Online application process to save time.
No extra hidden charges.
Buddy Loan is a loan service provider with a pool of RBI approved lenders. Let’s go through the steps to apply for a personal loan on Buddy Loan from below:
Step 2 - Fill out the application form, including the loan amount, the tenure in months, and contact details.
Step 3 - Fill out the following personal details as required:
Step 4 - Submit the details & wait for the loan confirmation.
Ready to take next step ?
IIFL offers a flexible repayment tenure ranging from 3 months to 42 months.
Additionally, you have the convenience of three different repayment channels – the online website, mobile app, or in-person branch visit. Importantly, IIFL’s transparent process assures borrowers of no hidden charges or penalties.
IIFL Personal Loan is a type of unsecured loan that provides individuals with a fixed sum of money for personal use, which is to be repaid with interest over a specified period.
Eligibility criteria for IIFL Personal Loan may include a minimum age of 21 years, Indian citizenship, a stable source of income, and a good credit score.
To apply for an IIFL Personal Loan, you can visit an IIFL branch, apply online through their website, or contact their customer service.
The maximum and minimum loan amounts for IIFL Personal Loans can vary but typically range from Rs. 50,000 to Rs. 50 lakhs or more, depending on eligibility and requirements.
Interest rates and tenures for IIFL Personal Loans can vary based on several factors, but typically, interest rates can range from around 12% to 30%, and tenures may go up to 5 years or more.
No collateral is required for IIFL Personal Loans as they are unsecured loans.
IIFL Personal Loans can generally be used for various purposes, such as debt consolidation, medical expenses, education, travel, home renovation, and more.
Display of trademarks, trade names, 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 own discretion.