Home » IDFC Bank Personal Loan
IDFC Bank logo

IDFC Bank Personal Loan

Interest Rate: 11.69% Credit Score: not an issue, Approval time: 2 min, Cash disbursal: in 24 hrs.
People who are seeking to fulfill their goal or dreams and are looking for funds can easily obtain IDFC Personal Loan. It gifts their customers with three different Personal Loan stated as Smart Personal Loan, Simple Personal Loan, and Personal Loans Balance Transfer namely. These Loans can be obtained for different schemes such as funding off medical bills, satisfying wedding expenses, traveling, obtaining durable personal goods, etc. and is also recognized as a multi-purpose loan. They provide with unique plans and proposals for employees of large companies on the personal loans.

Apply Personal Loan

Please enter your NamePlease enter valid Name
Please enter a valid email addressPlease enter your email address
Please enter a valid mobile numberPlease enter your mobile number
Please select your Employment Type
Please enter a valid Company Name
Please answer the above question
Minimum salary of Rs 10,000 is requiredMinimum annual income of Rs. 1.2 Lakh is requiredMinimum turnover of Rs. 1.2 Lakh is required
loading2

Why choose IDFC bank For Personal Loan?

  • The personal loans which are provided by IDFC Bank are a multipurpose loan which can be taken for any events such as marriages, house renovations, higher education, emergency health issues, etc
  • IDFC Bank Personal Loans are simple loans which can be obtained by the user without any collateral or peculiar asset property
  • The Loan grants their users with lower interest rates, less EMIs, and more available rates to repay the personal loan amount.
  • IDFC Bank presents personal loans with manageable repayment options and also allows part prepayment at zero cost
  • The Personal Loans can be obtained from a minimum of Rs.50, 000 to a maximum of Rs.20 Lakh with a simple loan repayment benefits ranging from 3 months up to 60 months.
  • It also offers personal loans with natural documentation process with 100% clarity.
  • There are no hidden charges, inexpensive and lowest processing fee is offered and convenient repayment options.

IDFC Bank Interest Rate For Personal Loan

Salaried Individual

Loan Amount

Starting From Rs. 50,000 up to Rs. 20 lakhs

Interest Rate

11.69% - 15%

Loan Tenure

From 3 months up to 60 months

Processing Fee

1.5% of the loan amount

Age

24 years up to 60 years

Prepayment Charges

Allowed after 3 EMIs.

Foreclosure

Allowed after 3 EMIs, 3% of outstanding amount

IDFC Bank Personal Loan: Features & Benefits

Lower interest rate

IDFC bank interest rates are comparatively very low, and if affordable for all types of the borrowers. The bank offers 11.69% rate for salaried employees and 16% for a self-employed person, provided the applicant has a good credit score. A good credit score would grant the applicants with decent interest rates. Terms and conditions are added for the same.

Low EMI

IDFC personal loan calculator calculates EMI analyzing a combination of a loan amount, interest rate, and loan tenure. The calculator recognizes “reducing balance basis” and finds that the payment of EMI is made in arrears (meaning the interest is charged for the month leading the EMI payment date) and not in advance. It also reduces the tenure and keeps the loan updated.

Loan Amount

IDFC bank provides a wholesome of Rs 50,000 to Rs 20 lakh to the applicant who wishes to seek a loan for various purpose and demands. The loan tenure which is provided by IDFC bank is from 3 months to 60 months for salaried individual and six months to 36 months for a self-employed individual.

Age limit

The age limit which is provided by IDFC bank to the applicants is a minimum of 25 years going up to 60 years for a salaried individual. Whereas the age limit for a self-employed candidate is between 28 years to 60 years.

Multi-purpose loan

A personal loan from IDFC bank can come handy when you are in urgent need of cash. They provided with three types of personal loan to their applicants. Be it growing the business or taking the dream vacation. For a different purpose, a different kind of personal loan is originated.

Online documentation

The bank wants to easy out the tasks for their customers, that's the reason they have granted them with filling up of the online form. These forms are available online, and the applicant can fill it anywhere and at any hour. The banks have the criteria of minimal documentation. This not only saves time but also it saves money.

Unsecured loan as a Personal Loan

The applicant can obtain a personal loan from IDFC bank without pawning or pledging on any of the security. Hence, these loans are observed as unsecured loans. They are provided to the applicants for all type of benefits and advantages.

Affordable payment options

IDFC bank applicants do not have to bear any penalty or fine when it comes to early closure of Fixed Deposits account. The complimentary savings account is offered to the applicants on an opening of a Fixed Deposit account. Also, the depositors get a high return on the amount which is deposited by the user.

Repayment options for the applicants

The repayment options for applicant have standing instructions which state that the applicant should be an auto-debit from the existing IDFC account. The applicant can also pay via ECS (Electronic Clearing System) or PDC (Post-dated cheques)

IDFC Bank Personal Loan Fees & Charges

Processing Fees 1.5% of the loan amount
Foreclosure Charges IDFC Bank allows prepayment of personal loan after paying 3 EMI’s with 3% prepayment charges applicable
Eligibility Criteria

Eligibility Criteria for IDFC Personal Loan

1.

The age of the applicant should be at least 21 and less than 58.

2.

The candidate should be residing in India.

3.

The applicant should have a steady income and should be a salaried employee which includes government service or a regular corporate job also.

4.

The applicant needs to have a savings account with the bank. Bank requires some criteria such as age and citizenship for opening a savings account.

5.

The minimum monthly deposit should be Rs. 2000 and the maximum monthly deposit cannot exceed more than Rs.75, 000.

Documents Required for IDFC Bank Personal Loan

• The applicant needs filling the form which has at least two years of stable job or Income Tax Returns

• A salary slips with last three months transaction.

• Last six months bank statement reflecting salary credits.

• ID/ Age proof which has PAN card/ passport/ signature proof/ adhaar card and residence proof or documents containing passport/ utility bills/ bank statements.

• The applicants should have a cheque of the processing fee.

• Passport size photograph

• Address proof which can include utility bill-landline/electricity registered the rental deed

Documents Required

Why choose Rupee Station for IDFC Personal Loan?

Rupee Station has a special collaboration with IDFC Bank to provide the personalized loan benefits to the borrowers. If you apply for IDFC Bank loan with us, we will assure you with several significant advantages. Some of the major plus points that we offer to the borrowers are enlisted below:

Personalized offers on loan

At Rupee Station, the applicant can obtain a personalized loan. This offers an outstanding deal with IDFC bank. It provides with the best rate of interest, and due to a tie-up with IDFC Bank, the applicant gets an excellent deal on the personal loan as per there profile.

Quick Approval

The applicant will get quick approval on the personal loan after they fill in a simple online application form. This results in time and money saving aspect.

Disbursal within two workdays

Shortly after the loan is accepted, the money is transported right into the bank of the borrower. The bank transfers the money within two working days. Therefore, there is no room for delay.

Facility with real-time tracking

Following the submission of the loan application at Rupee Station, the applicant can follow the application online and furthermore they would obtain updates of the submitted application form using both email and messages.

Customer help

Rupee Station has an excellent customer support team service and helpline which is forever ready to help and assist with any grievances or questions from loan applicants.

Ways to apply for Personal Loan at Rupee Station

Step 1

The applicant first needs to fill a form. This can be done manually by marching down to the bank, or they can fill the online application form.

Step 2

The application form which is submitted is first viewed and after an application form is considered it is then approved. The bank announces the decision within few minutes

Step 3

The applicant form after getting accepted is then processed, and the money is transferred to the applicant within two working days