Apply for a IDFC Bank Personal Loan
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Happy Customers
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Happy Customers
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Banks and 7 NBFC
| IDFC First Bank Personal Loan | |
| Interest rate | 10.49% p.a. onwards |
| Loan Amount | Up to Rs 1 crore |
| Tenure | Up to 5 years |
| Processing Fees | Up to 3.5% of the loan amount |
- Interest Rates: IDFC First Bank offers personal loans with competitive interest rates starting from 10.49% per annum onwards. The actual interest rate may vary based on factors such as the borrower's creditworthiness and the loan amount.
- Amount: Borrowers can avail of personal loans with a loan amount of up to Rs 1 crore. This provides flexibility to meet various financial needs, whether it's for a small expense or a substantial financial requirement.
- Tenure: IDFC First Bank offers flexible repayment tenures for personal loans, extending up to 5 years (60 months). Borrowers can choose a tenure that suits their financial situation and repayment capacity.
| Identity Proof | Passport/ driving license/PAN card |
| Age Proof | PAN Card/ Passport/ Driving Licence/ School leaving certificate/ Voter's card/ Birth Certificate/ LIC policy (only for age Proof). |
| Address Proof | Passport/ Telephone bill/ Electricity bill/ Title deed of property/Rental agreement/ Driving license/ Election ID card |
| Income Proof | Latest salary slip/current dated salary Certificate with latest form 16 |
| Job Continuity Proof | Form 16/relieving letter/appointment Letter (for last two months) |
| Banking History | Bank statements of latest 2 months/ 3 months bank passbook |
Example:
Personal loan of 5 lakhs at an interest rate of 10.5% for tenure of 5 years, the EMI will be 10,747. The total pay out here would be:
- Principal Amount: 5,00,000
- Interest Charges (@10.5%): 1,44,817
- Loan Processing Fees (@2.5%): 12,500
- Documentation charges: 500
- Amortization Schedule charges: 200
- Total Amount paid after 5 Years: 6,58,017
- *Interest rate and processing fees varies as per your product depending on the lender's policy.