Saturday, October 1, 2022

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 RateCompetitive Interest rates starting at 10.49% to 24% p.a.
Personal loan ProcessCompletely digital, Paperless Online Process
Processing FeeProcessing Fees of Up to 3.5% will be deducted from the loan amount + GST
Loan tenure1 to 5 years
Minimum Income RequiredRs. 20,000
Maximum Loan Amount20k to 40L
Age Limit23 to 60 Years
Foreclosure Fee5% 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 feesProcessing Fees of up to 3.5% will be deducted from the loan amount + GSTCollected at the time of loan disbursal

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

ParticularsFeesRemarks
EMI bounce chargesRs.400For each presentation dishonored
Repayment instrument swap chargesRs.500Per charges request
Statement of AccountRs.500 
Duplicate No Objection Certificate (NOC)Rs.500Per 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 chargesAs per actuals 
Physical Repayment ScheduleRs.500 
Document retrieval charges (per retrieval)Rs.500 
EMI Pick up/Collection ChargesRs.350 
Foreclosure charges5% of the loan amountForeclosure/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 NameIDFC First Bank Loans – Instant Loans Online
Download Size15.51 MB
Offered by IDFC First Bank Limited
Updated on7 Sept 2021
Website Addresshttps://www.idfcfirstbank.com/personal-banking/loans/personal-loan

IDFC First Bank Personal Loan Related FAQ: –

What is a Personal Loan?

Personal loans help you borrow money for the price of personal nature – whether for any other requirement like emergency, education, family marriage, or home renewal. With IDFC First Bank, with different loans from 20K to 40lakh, you can enjoy low-interest rates with flexible functions between 1 to 5 years.

How much annual interest rate on IDFC First Bank Personal Loan?

If a person gets personal loans from IDFC First Bank, then it has to pay 10.49% to 24% annual interest, which may be in 12 to 60 months, the interest rate depends on the fact that the person’s credit score and bank relationship How is it

How many days get personal loans from the IDFC first bank?

When a person has online applied to take a Personal Loan from IDFC Bank and the bank is satisfied with the documents given by him, then it is transferred to the person’s account in 7 days.

How to Check IDFC Bank personal loan status?

To know the status of your loan you will go to https://www.idfcfirstbank.com/loantracking.html.  After that enter your application number and enter the captcha after your registered mobile number. Click Continue.

How to contact IDFC Bank personal loan customer care?

For any query related to Personal Loan, you can also call on the number 1860-500-9900. If your query is not resolved and want to move forward with this issue, you can call the number 1800-419-2332. You can also get an answer to your questions by sending mail to [email protected]

How can I calculate the EMI payable before availing of a personal loan from IDFC Bank?

You can check EMI payable by using the EMI calculator available on the official website of the lender. You can put the necessary details to check the EMI payable and check the emission payable. This feature is free for you.

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