IDFC First Bank Personal Loan
With affordable interest rates and adjustable repayment terms, IDFC First Bank offers personal loans. There is little to no paperwork required in order to obtain a loan. IDFC First Bank with interest rates starting at 10.49%*. A maximum loan of ₹ 100000 to 1 cr with a maximum 6 month to 5 year repayment period is available to you.
The personal loans offered by IDFC First Bankhave low interest rates and flexible payback schedules. A loan can be obtained with little to no paperwork. Interest rates on personal loans from IDFC First Bank start at 10.49%, making them a great option for any of your urgent financial requirements. You may be eligible for a loan with a maximum amount of Rs 20,000 to Rs 1 crore and a maximum payback term of 6 months to 5 years.
| Interest Rate | 10.49%* | |
|---|---|---|
| Maximum Loan | ₹ 100000 to 1 cr | |
| Processing Fees | 1-2% off loan Amount | |
| Maximum Loan Tenure | 6 month to 5 year | |
Loan Disbursal in 3 hrs*
100% Online ProcessA Four-Step Guide to Efficient Financing
IDFC First Bank Personal Loan EMI Calculator
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Documents Required for IDFC Personal Loan
The list of paperwork you must provide to IDFC First Bank in order to apply for a personal loan is provided below:
Identity documentation such as an Aadhaar card, passport, PAN card, etc.
Address verification documents include an Aadhaar card, utility bills, a passport, a bank statement, etc.
Income verification
The most recent pay stub and a bank statement from the previous three or six months for those who are salaried
Individuals who are self-employed should provide their most recent six-month bank statement, two years' worth of balance sheets, and two years' worth of income tax returns.
Self-employed people must show proof of their business, such as a qualification certificate, a certificate of practise (COP), a shop act license, a memorandum of agreement and an operating agreement, a sales tax certificate, a VAT registration or a partnership deed.
With affordable interest rates and adjustable repayment terms, IDFC First bank offers personal loans. There is little to no paperwork required in order to obtain a loan. IDFC First Bank personal loans are excellent choices for all of your urgent financial needs, with interest rates starting at 12.5%. A maximum loan of Rs. 5 lakh with a maximum 5-year repayment period is available to you.
Feature of IDFC Personal Loan
Here are the feature of IDFC personal loan :
Loan with several uses
A personal loan is sometimes known as a multi-purpose loan, indicating that there are numerous uses for it. You can apply for a personal loan to cover your medical costs, wedding costs, travel costs, or other expenses.
Sum borrowed
From 50,000 to 15 lac rupees, IDFC FIRST offers loans.
Adjustable interest rate
Throughout the term of the loan obligation, IDFC first bank personal loan interest rate is nonnegotiable and subject to change.
EMIs, payment options, and flexible terms
A loan tenure of 1 to 5 years is available for personal loans from IDFC FIRST at competitive interest rates. Easy payments can be used to repay the debt.
As an unsecured loan, personal loans
Without putting up any security for the loan, you can also apply for a personal loan from IDFC FIRST. Consequently, it is sometimes referred to as an unsecured personal loan.
Documentation
When compared to a secured loan, an IDFC FIRST personal loan can be obtained quickly and with little paperwork or documents.
Finance charges
A personal loan's interest rate starts at 12% and can reach as high as
Process for applying IDFC personal loan
Here are the following steps that you to follow for IDFC personal loan apply :
Visit the bank's official website and submit the required online application for a personal loan.
In the event that you are qualified, the bank will assign a relationship manager to visit your communication address and get the required paperwork.
The bank will verify your documents after you have submitted them. Your interest in receiving a personal loan from the lender may also be discussed during this procedure.
The loan amount will be approved and paid to your bank account if all of your supporting documentation is received in compliance with bank reporting requirements.
Along with the required documentation, you can also go to the IDFC First Bank location that is closest to you. You will receive assistance from a bank representative as you complete the IDFC First Bank personal loan application procedure.
FinCrif Frequently Asked Questions ( FAQ )
Can I get a personal loan from IDFC First Bank without putting up any security or collateral?
ANS. Loans for personal use are unsecured. Based on variables like your salary, age, credit score, etc., the bank will make you an offer for a personal loan. A personal loan from IDFC First Bank can be obtained without you having to put up any security.
How long will it take the lender to approve my loan and release the money?
ANS. It will take the lender about 7 days to review the paperwork you've provided and transfer the loan funds to your bank account.
How will my loan be repaid?
ANS. IDFC Personal Loans must be repaid in equal monthly installments (EMIs) using an EFT (Electronic Fund Transfer) from a different bank account of your choosing. You can also choose to repay the loan by setting up a standing order to have your IDFC Bank account deducted the EMI.
Eligibility Criteria for IDFC Personal Loan
The following requirements must be met in order for IDFC personal loan eligibility :
People who are self-employed
At the time the loan matures, the borrower must be at least 28 years old and no older than 68.
At least three years must have passed since the company was founded.
Profit after Tax (PAT) must be positive for the business.
Persons with salaries
At the time the loan matures, the borrower must be at least 23 years old and no older than 58.
