Apply online for IDFC FIRST Bank personal loan up to 1 Crore at interest rate starting from 10.75% p.a. Processing fee Upto 3.5% of Loan Amount and Flexible tenure up to 7 Years.
Updated: 13-05-2024 01:57:32 PM
| Rate of interest | 10.75% |
| Tenure | 7 years |
| Processing fee | Upto 3.5% of Loan Amount |
| Part prepayment fee |
|
| Foreclosure charges | 5% of principal outstanding for Simple Personal Loans as well as Smart Personal Loans. |
| Overdue interest | 2% of the unpaid EMI or Rs. 300, whichever is higher |
| Repayment instrument swap charges | Rs. 500 per change request |
| EMI bounce charges | Rs. 400 for each bounce |
| Duplicate NOC/ NDC | Rs. 500 per request |
| Statement of Account (Adhoc/ Duplicate) | Rs. 500 |
| Cancellation or rebooking charges | 1% of the loan quantum + interest from the date of disbursal till receiving the cancellation request |
| Document retrieval charges | Rs. 500 per retrieval |
| Physical repayment schedule | Rs. 500 |
| EMI pick-up/ collection charges | Rs. 350 |
| Stamping charges | As per actual |
The attractive features of IDFC Personal Loan are mentioned below:
Keeping IDFC Loan processing transparent for the customers, the bank has outlined straightforward an IDFC personal loan eligibility criteria for the borrowers.
Personal Loan Eligibility for Self-Employed Professionals and Businesses
Personal Loan Eligibility for Salaried Employees
Minimum:
for loan amount <15 lakhs : 23 years.
for loan amount >15 lakhs: 28 years (25 – 28 years allowed with NCM deviation)
Maximum:
60 years or Retirement whichever comes first at loan maturity.
IDFC FIRST Bank Personal Loan Documents requirement is mentioned below in details:
| Verification of | Documents (Self-attested copy of any one required) |
| Photo Identity Proof | Self-attested copy of any one of the below:
Aadhaar Card/ Passport/ Pan Card/ Voter’s ID/ Driving License |
| Address Proof | Self-attested copy of any one of the below:
Aadhaar Card/ Passport/ Bank Account Statement/ Driving License/ Latest Utility Bills (Electricity Bill, Telephone Bill etc.)/ Sale Deed/ Property purchase agreement. |
| Proof of Income (Self-attested copy of relevant documents) | For Salaried employees:
For Self-Employed:
|
| Additional Documents | Business Proof (Self-attested copy of relevant documents):
Municipal tax bill/ Gram Panchayat/ GST Certificate/ Certificate Shop & Establishment Certificate/ ITR with Computation of income of last 2 years/ Udyog Aadhaar/ SSI Certificate/ FSSAI license/ Utility Bill. For Balance Transfer Cases: Repayment Schedule, Loan Foreclosure Letter, and Statement of Accounts PAN/Form 60 |
You can conveniently calculate the exact IDFC FIRST Personal Loan EMI load on your shoulders using an online Personal Loan EMI Calculator. It is a hassle-free and easy-to-use financial tool designed to extend convenience to the borrowers.
All you need to do to know your Personal Loan EMI is enter the loan parameters, including loan amount, interest rate, and tenure.
The tool will instantly provide the break-up of how much you are required to repay as a monthly instalment. A visual representation will help you understand the total repayments as the loan interest and total repayments.
You can calculate different combinations of Loan tenure and rate of interest to find the best loan deal. The tool is absolutely free to use.
Personal Loan Balance Transfer Tool, Prepayment Amount Calculator, and Foreclosure Amount Calculator.
It is very easy to apply for a Personal Loan and get an IDFC Bank Loan Statement online. Just follow the steps mentioned below:
You can access your personal loan statement through IDFC First Bank in the following ways:
By making a request at your nearby IDFC First Bank branch in-person
If your Personal Loan is not approved yet, you can track your application status by calling IDFC FIRST bank Toll Free Helpline.
Customer Support mobile number for IDFC First Bank Loans: 1860 500 9900
Email – [email protected]
Registered Office:
IDFC FIRST Bank Ltd
KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai – 600031, Tamil Nadu, India
Corporate Office:
IDFC FIRST Bank Ltd, Naman Chambers, C-32, G-Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400051, India
Fill the form by clicking on Apply Now Button and compare latest Interest Rate of all Banks/NFBCs for Instant and Quick Personal Loan Disbursal.
You do not need any security or collateral for IDFC FIRST Bank Personal Loan. The loan is approved based on your credit profile. There is no requirement for any guarantor or co-signer to avail a Personal Loan.
You do not need to visit the IDFC FIRST Bank branch at any step for approval of a Personal Loan. After you fill the online application, the loan is processed online. After you apply for the loan, the amount is directly disbursed after the verification of documents and sanction of the loan.
No, IDFC FIRST Bank doesn’t allow you to change the EMI due date for Personal Loan.
You can repay your Personal Loan online from the mobile application. Choose electronic clearing service (ECS) or post dated cheques (PDC).
The Personal Loan EMI is due on the 2nd or 5th of every month. You must ensure enough balance to ensure the success of the ECS mandate.
Log in to the customer portal to check the loan status. You can download Loan Account Statement, applicable charges and repayment schedule there itself.
When your ECS mandate fails, you are charged with Bounce Charge (on the unpaid instalment) and Late Payment Fee.
To update your personal data, all you need to do is contact the helpline at 1860-500-9900 (Capital First Customers) or 1800 419 4332 (IDFC Bank Customers).
Write an email at [email protected] or [email protected]. The demographics will be formally updated in the system.
A Personal Loan customer can make an advance payment for 1 month online or by visiting the branch. However, please make sure you also call customer care and share payment transaction ID, so that ECS is not processed next month and no bounce charges are credited from your account.
To foreclose the Personal Loan, visit the nearest IDFC FIRST Bank Branch and pay via cash, cheque, or Debit Card. The e-receipt of the payment will be mailed to the registered email id. Please note that the maximum limit on cash repayment is 50,000.
Yes, you can certainly cancel your Personal Loan application if you do not want to borrow it any longer. The Personal Loan cancellation is free of cost for approved loan applications. You can request a cancellation by contacting customer care online or by a call.
