IDFC First Bank Personal Loan EMI Calculator, Interest Rate

IDFC first bank personal loan is available with a long period of fair interest rate and repayment. The loan is available from this bank through a minimum document and online basis. You will get IDFC first bank personal loans to meet your monetary requirements annually with a 10.49% interest rate. You can use this money for bill payments, home renewal, personal expenses, etc. Due to low interest, minimum document, repayment period, etc. IDFC first bank personal loan can prove to be profitable for you.

In this article, I will show you how to get a personal loan from IDFC Bank and Know how to calculate your EMI through a Personal loan EMI Calculator?

IDFC First Bank Personal Loan Detail

Interest Rate	Competitive Interest rates starting at 10.49% to 24% p.a.
Personal loan Process	Completely digital, Paperless Online Process
Processing Fee	Processing Fees of Up to 3.5% will be deducted from the loan amount + GST
Loan tenure	1 to 5 years
Minimum Income Required	Rs. 20,000
Maximum Loan Amount	20k to 40L
Age Limit	23 to 60 Years
Foreclosure Fee	5% on Outstanding Loan Amount.

Must Read: – Navi Instant Personal Loan

Features of IDFC First Bank Personal Loan

• The process of loan application is completely online. The signed document is not required and there will be no physical meeting.
• In only 1 hour, you can know about the loan.
• IDFC first bank personal loan is available with a long period of fair interest rate and repayment.
• This loan is available for salaried and self-employed.
• A personal loan taken from any other bank can be transferred here.
• If you pay full within 6 months, then there is no foreclosure fee. But there will be 5% foreclosure fees on the original amount present after 6 months.
• Top-up facility for existing customers.

Eligibility Criteria of IDFC First Bank Personal Loan

IDFC first bank to avail of personal loans, you have to complete the eligibility criteria, only then you can apply for personal loans.

Salaried individuals

• Applicant’s Minimum age of 23 years, and maximum age of 60 years at the time when the loan matures.
• Monthly Salary 20000 / –

Self-employed individuals

• Applicant’s Minimum age of 28 years, and maximum age of 65 years at the time when the loan matures.
• The business should be in existence for at least 3 years.
• The Companies Profit After Tax (PAT) should be Positive.

Documents Required (IDFC First Bank Personal Loan)

Documents require for Salaried Person

• Identity Proof like Pan Card, Aadhar Card, Valid Passport, Driving License, National Population Register containing detail of name and address.
• Address Proof like the Latest bank statement, Aadhar Card issued by UIDAI, Valid Passport Etc.
• Last 3 months Bank Statement.
• Last 3 months Salary Slips.

Documents require for Self-Employed Person

• Identity Proof like Pan Card, Aadhar Card, Valid Passport, Driving License, National Population Register containing detail of name and address.
• Address Proof like the Latest bank statement, Aadhar Card issued by UIDAI, Valid Passport Etc.
• Last 3 months/6months Bank Statement.
• Income Tax Returns for the last 2 years, Balance sheet for the last 2 years.
• Business Proof: GST Certificate, Shop Establishment Certificate, Udyog Aadhar filed minimum 6 months before CPA login date, SSI Certificate issued by Government of India minimum 6 months before CPA login date, Shop Act license.
• Ownership Proof: Sales Deed, Latest water tax bill, Latest Property Tax receipt, Electricity Bill.

Fees and Charges

If you pay full within 6 months, then there is no foreclosure fee. But there will be 5% foreclosure fees on the original amount present after 6 months.

Processing fees

Processing Fees of up to 3.5% will be deducted from the loan amount + GST

Collected at the time of loan disbursal

Loan less than 1 lakh will have a flat processing fee of Rs 2999/-

Particulars	Fees	Remarks
EMI bounce charges	Rs.400	For each presentation dishonored
Repayment instrument swap charges	Rs.500	Per charges request
Statement of Account	Rs.500
Duplicate No Objection Certificate (NOC)	Rs.500	Per request, in addition to Bank’s issued letter
Cancellation/Rebooking Charges		1% of the loan amount + interest from the date of disbursal till receipt of cancellation request to be received within 30 days of loan booking date of 1st EMI presentation date, whichever is earlier. Post which cancellation will be treated as foreclosure
Stamping charges	As per actuals
Physical Repayment Schedule	Rs.500
Document retrieval charges (per retrieval)	Rs.500
EMI Pick up/Collection Charges	Rs.350
Foreclosure charges	5% of the loan amount	Foreclosure/Prepayment of the loan is possible anytime during the loan tenure after payment of 12 or more EMIs. Foreclosure to be made from customer’s funds.
Overdue Interest		2% of the unpaid EMI of Rs 300 whichever is higher

All fees/charges to be paid shall be exclusive of goods and services tax.

How to apply for a Personal Loan from IDFC First Bank?

• Go to the bank’s official website, enter the duly online app form, and apply for personal loans.
• If you meet eligibility norms, the bank will appoint a relationship manager, which will come to your communication address to collect the necessary documents.
• Once your document is deposited, it will be verified by the bank. In this process, the lender may be involved in discussing your interest in taking personal loans.
• If the bank is satisfied with all the documents you provided, the loan amount will be approved and distributed to your bank account.
• You can go to the nearest branch of IDFC First Bank with the necessary documents and apply for personal loans. A representative of the bank will help you in the process of applying for a Personal loan from IDFC bank.

IDFC First Bank Corporate Address

IDFC FIRST Bank Ltd Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex, Bandra East,
Mumbai – 400051, India

Application Name	IDFC First Bank Loans – Instant Loans Online
Download Size	15.51 MB
Offered by	IDFC First Bank Limited
Updated on	7 Sept 2021
Website Address	https://www.idfcfirstbank.com/personal-banking/loans/personal-loan

IDFC First Bank Personal Loan Related FAQ: –

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