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IDFC First Bank Personal Loan

IDFC First Bank provides Personal Loan to borrowers who require funds to meet their urgent requirements like Medical Emergencies, Home Renovation, Child's marriage, for higher education, a Capital requirement for business, dream Vacation trip, etc. IDFC First Bank provides Quick Personal Loan is available for salaried individuals and self-employed professionals. You can borrow a loan from Rs 1 Lakh to Rs 20 Lakhs on the basis of your personal loan eligibility. You can repay your Personal Loan in tenures ranging from 1 to 5 years at the attractive Rate of Interest. You can also make use of LoanMoney Personal Loan EMI Calculator and check eligibility criteria for Salaried Employee and find out if you qualify for a Personal Loan. 

Use Personal Loan EMI Calculator to calculate monthly EMIs on the basis of Loan Amount, Interest Rate & Tenure. Apply for Personal Loans in Delhi-NCR online with LoanMoney to avail the lowest interest rates and quick approval. IDFC First Banks allow their existing customers to avail of a top-up loan. LoanMoney provides you to avail of an instant personal loan without the requirement of any collateral.

General Information

Loan Amount: Rs. 1 Lac to 40 Lacs
Rate of Interest (APR)*: 10.75% to 22.50%
Repayment Tenor: 12 Months to 60 Months
Processing Fees: 0.75% to 2.50% + GST as applicable
Prepayment/ Foreclosure: Nil (After 12 months) or 1% - 4% (Before 12 months)

Illustration: Rs. 1 Lac loan on @10.75% with processing Fees for 60 Months comes to Rs. 1,29,708/- Equated Monthly Instalment shall be: Rs. 2,162/- only.

APR* - Annual Percentage Rate

  Salaried Self Employed Professional
Age 23 To 60 Years 25 25
Loan Amount 1 Lacs To 20 Lacs Upto 25 Lacs Upto 25 Lacs
Tenure  12 To 60 Months 12 To 36 Months 12 To 48 Months
Rate of Interest / APR [Annual Percentage Rate] 11.10% To 17.20% 17% To 22% NA
Features Top-up Facility for Existing Customer Top-up Facility for Existing Customer Top-up Facility for Existing Customer
Processing Fees 1.5% To 2% 2% of Loan Amount Plus Service Tax 2%
Special Easy Documentation Quick Loan Disbursal Normal or Overdraft
Documentation Income Proof, Address and Identity Proof Balance Sheet & ITR 3 yrs BS, P&L , ITR and Banking

Repayment of Total amount [Illustrative] on Rs. 1 Lac loan on @14% with processing Fees for 60 Months comes to Rs. Rs. 1.41 Lacs

< 50k salary = FOIR of 50%

>50k salary  =FOIR of 70%

The following people are eligible to Apply for IDFC First Bank Personal Loan:

  • Salaried Doctors, CAs, salaried employees of MNC, Private Ltd., Public sector undertakings, including central, state and local bodies
  • Salaried Individuals between 23 and 60 years of age
  • Salaried Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer.
  • Those who earn a minimum of Rs. 25,000 net income per month.
Particulars Salaried Self Employed Professional
Age(Min-Max) 23 To 60 Years 25 25
Minimum Income Rs. 25,000/- Rs. 3,00,000/ Per Annum NA
Co-applicant NA NA NA
Loan Tenure 12 To 60 Months 12 To 36 Months 12 To 48 Months
Maximum Loan Amount 1 Lacs To 20 Lacs Upto 25 Lacs Upto 25 Lacs
Employment/Business Continuity 1 Years 3 Years NA
CIBIL Score 650+ 600+ NA

Proof of identity: Passport, Driving License, Voter ID, PAN Card, Aadhaar Card

Proof of Residence: Any utility bill (should not be >3 months old)/ Any govt provided address proof like-voter id, Passport/DL/

Proof of Income: Latest 3 months salary slip/salary certificate.

Bank Statements: Latest 3 months bank statement of salary account.

Fee Amount to be Paid
Rate of Interest Interest Rate very from 12.99% To 17%
Loan Processing Charges 1.5% To 2%
Cheque Bounce Charges NA
Cheque/ Instrument Swap charges NA
Prepayment/ Foreclosure Charges NA
Default Interest Rate NA
Duplicate Statement Issuance Charges NA
Duplicate Amortization Schedule Charges NA
Duplicate Interest Certificate NA
S(Provisional/ Actual) issuance Charges NA

Benefits of IDFC First Bank Personal Loan

  • Competitive interest rate with maximum loan approval.
  • Easy, simple and hassle-free documentation.
  • Doorstep service
  • No Collateral or security required.
  • Repayment options are available from 1 to 5 years.
  • Balance Transfer Facility
  • Top-up Facility for Existing Customer

Eligibility Criteria for IDFC First Bank Personal Loan

IDFC First Bank Personal Loan can finance your requirements without having to wait for capital to accumulate. LoanMoney sets eligibility criteria for a Salaried Personal Loan based on a few simple parameters. Applicant credit score and existing borrowings are also estimated to determine your repayment capacity.

  • Net Monthly Income
  • Applicant's Age
  • Credit History
  • Company Category
  • Existing Loan or other obligation ( Credit Card Outstanding bills)

Features of IDFC First Bank Personal Loan

  • Minimum age at the time of application should be 23 years.
  • Maximum age at personal loan maturity should be 60 years or retirement age whichever is earlier.
  • Minimum NTH Salary should be Rs. 25000.
  • Should have completed minimum 2 years in employment and minimum of 1 year in the current company.
  • Should have completed minimum 1 year of stay at the current residence, if rented.

Special Features & Benefits of IDFC First Bank

  • Instant Loan Approval
  • Maximum Loan Amount
  • Attractive Rate of Interest
  • Flexible Loan Tenure up to 5 Years
  • Simple & Easy Documentation
  • Lowest EMI
  • Doorstep Services
  • Balance Transfer Facility

Advantage with Loanmoney

Loanmoney is one of the leading Loan Agency inDelhi/NCR. We offers all types of Loans & Credit Cards like
Personal Loan,Credit cards, Home Loan, Business Loan and Loan Against Property .

Loan Money's main objective is to provide Best deal with Multiple option with Transparency & safety. We deal with over 35 Banks & NBFC`S. ,Our main focus is customer satisfaction that's why our customer rate us over 4.8 out of 5 on Google review rating, Its shows our level of commitment & services towards our customers.

  • Expert & Experience Loan Advisor
    We are a team of young and energetic professionals from diverse backgrounds like Ex Bankers, CAs to guide hassle free Loan process and to deliver on commitment.

  • Multi Bank Option
    Loanmoney deals with Over 35 Banks & NBFCs,As per customer profile & financial we will give you minimum 3 best deal for your Personal Loan which is available in the market.

  • Free Door step Service
    Loanmoney doesn't charge anything against the customer for the Service of your Loan and help you to get desire Loan amount with lowest Rate.

  • End to End services
    We are very vibrant and dynamic Loan agency who manage all the processes ourselves from lead sourcing to Loan Disbursal. We work for customer utmost satisfaction.

  • Transparency & Safety
    We will share every terms and conditions related with your Loan process like interest rates, payment tenure, EMI and any other charge applied during Loan process & at before loan disbursement on recorded lines.

  • Referral Program
    Loanmoney offer an attractive scheme for earn extra bucks after getting loan. Any Disburse customer can become our associates &can start earning on referring New customers to Loan Money.

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