Apply Online for IIFL Personal Loan

Apply online for an IIFL and experience quick, hassle-free approval with minimal documentation. IIFL is designed to meet your financial needs, whether for home renovation, medical expenses, travel, or debt consolidation.

  • Interest Rate 12.75% onwards
  • Maximum Loan ₹ 1 lacs to 25 lacs
  • Processing Fees 2% - 9%
  • Maximum Loan Tenure 1 to 5 years
Customers Rating
❤️ Trusted by 12,00,000+ Happy Customers

1+ Million

Happy Customers

Rs. 250+ crore

Monthly Personal Loans Disbursal

Wide Range of 60+

Partner Banks & NBFCs

Support team 500+

Team Size of Experts

Eligibility Criteria for IIFL Personal Loan

Here are the eligibility criteria for applying for an IIFL Personal Loan:

  • Your Cibil Score must be at least 700 to be considered for the loan.
  • The individual must be at least 19 years old.
  • The maximum age limit is 65 years old by the time of full loan maturity.
  • A minimum salary of INR 15,000 per month is required.
  • If you are self-employed, the Underwriter (UW) will use your Average Bank Balance (ABB) for evaluation.
  • There should be no minimum balance fees charged in the past six months.
Documents Required for IIFL Personal Loan

Documents Required for IIFL Personal Loan

1. Candidate's Selfie

To apply for the IIFL Personal Loan, you must provide a recent selfie as part of the verification process.


2. ID Document - PAN Card

You are required to submit a valid PAN card as a form of identification proof when applying for the IIFL Personal Loan.

3. Address Proof

For address proof, either an Aadhaar card or a valid driver's license will be accepted.

4. Bank Records

Applicants must submit bank account statements for the last six to twelve months from their current or savings account (CA/SA) as proof of financial stability.


Fees and Charges of IIFL Personal Loan

Processing Fee Up to 2% of the loan amount
Transaction/Legal Handling Charges in Balance Transfer ₹ 2,500
CERSAI Fees ₹ 100 (for loans > ₹ 5 lakh)
₹ 50 (for loans <= ₹ 5 lakh)
Cheque / ECS Dishonour Charges ₹ 500 for each ECS/cheque bounce
Nil on Representation of ECS/Cheque
Late Payment Charges 18% p.a. of outstanding EMI
Prepayment Charges For individuals: No foreclosure or part prepayment charges on floating rate home loans
For non-individuals:
Within 1st year of the first disbursement: 5% of amount prepaid
After 1st year till fixed-rate tenor: 3% of amount prepaid

IIFL Personal Loan Overview

An IIFL personal loan helps individuals manage unexpected financial situations by offering quick processing and disbursement, all without requiring any collateral. The loan can be used for a wide range of purposes, including household expenses, consumer durables, emergencies, and more. The loans are hassle-free and come with competitive interest rates, along with door-step services.

Features and Benefits of IIFL Personal Loan

  • Competitive Interest Rates: Starting at 13% per annum.
  • No Collateral Required: There is no need to provide a deposit or guarantee.
  • Flexible Repayment Tenure: Loan repayment terms range from 12 to 60 months.
  • Multi-purpose Loans: The loan can be used for travel, education, weddings, or medical emergencies.
  • Fast Approval and Disbursement: Loans can be approved online, and the funds can be disbursed within 8 hours.
  • Easy Online Platform: The application process is seamless with features like eSign and eKYC.
  • Pre-closure Without Fees: You can close the loan without any pre-closure charges after 12 months.

Frequently Asked Questions (FAQ)

1. How can I pay off my IIFL Personal Loan early?

Ans. After six months from the start of the loan, you can prepay the remaining balance without any prepayment fees.

2. What is the lowest EMI per lakh for an IIFL personal loan?

Ans. The lowest EMI per lakh, depending on your financial situation and selected tenure, is around ₹ 2,705 per month, subject to variations in the interest rate and tenure.

3. How is a personal loan from IIFL Finance closed?

Ans. To close the loan, visit an IIFL branch, fill out the loan closure form, and provide the required documents and the remaining balance to complete the process.

1+ Million

Happy Customers

Rs. 250+ crore

Monthly Personal Loans Disbursal

Wide Range of 60+

Partner Banks & NBFCs

Support team 500+

Team Size of Experts

IIFL Personal Loan EMI Calculator

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