IDFC Bank Personal Loan Interest Rate And EMI Calculator 2022

IDFC First Bank Personal Loan IDFC First Bank offers personal loan @ 10.49% p.a. For loan amount up to Rs 40 lakh and tenure of up to 5 years. It facilitates IDFC First Bank balance transfer of existing personal loans availed from other lenders at low interest rates. IDFC First Bank also offers online instant personal loan with paperless digital loan processing. IDFC First Bank personal loans are available at reasonable interest rates and flexible repayment tenure. Loans can be obtained with minimal documentation and zero paperwork!

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With interest rates starting from 12.5%, IDFC First Bank Personal Loans are the perfect option for all your immediate monetary needs. You can avail a maximum loan amount of up to Rs 5 lakh with a repayment tenure of up to 5 years.

Features of IDFC First Bank Personal Loan

IDFC Bank Personal Loan Interest Rate And EMI Calculator 2022

When you inquire about this loan on IDFC, you will get the e-approval within just 30 minutes from the comfort of your home. You will also get door-step service. You can enjoy paperless approval. You do not need to take any guarantor to apply for the loan. If you foreclose your account within 6 months of the loan being sanctioned So there is no foreclosure fee. If you foreclose your account after 6 months of taking the loan, you will have to pay a foreclosure charge of 5% of the outstanding principal

Eligibility Criteria for IDFC First Bank Personal Loan

You need to fulfill the eligibility criteria to avail personal loan from IDFC First Bank

  • The minimum age at the time of loan maturity is 28 years and the maximum age is 68 years.
  • The business should be in existence for at least 3 years.
  • The Profit after Tax (PAT) of the company should be positive.

Documents required for IDFC First Bank Personal Loan

Below is the list of documents you need to take personal loan from IDFC First Bank

  • Proof of Identity like Aadhar Card, Passport, Pan Card etc.
  • Address proof like Aadhar card, utility bill, passport, bank account details etc.
  • proof of income
  • For Salaried Individuals: Last 3 Months/6 Months Bank Statement, Latest Salary Slip
  • For Self Employed Individuals: Income Tax Return for last 2 years, Balance sheet for last 2 years, Bank statement for last 6 months
  • Proof of business as applicable for Self Employed Persons like Certificate of Competency / Certificate of Practice (COP), Shop Act License / MOA and AOA / Sales Tax / VAT Registration / Partnership Deed

How to apply for a personal loan from IDFC First Bank

Visit the official website of the bank and apply for personal loan by filling the online application form.

If you fulfill the eligibility criteria, the bank will appoint a Relationship Manager who will come to your communication address to collect the required documents.

Once your documents are submitted, it will be verified by the bank. This process may also involve the lender discussing your interest in getting a personal loan from them.

If all the documents provided by you and the bank are satisfied with the report provided, then the loan amount will be accepted and disbursed to your bank account.

You can also apply for a personal loan by visiting the website of BankBazaar and apply for a personal loan from IDFC First Bank.

You can also visit the nearest IDFC First Bank branch along with the required documents. A representative of the bank will assist you in the process of applying for a personal loan from IDFC First Bank.

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