IDFC First Bank Personal Loan – Eligibility, Interest rates
IDFC FIRST Bank instant loans app is an innovative and simple tool to get instant loans up to ₹75 lakhs. Our loan app, powered by the latest technology, can help you get an instant personal loan in a few hours. You can use the loan app to check out loan offers, apply for an instant loan, monitor your loan accounts, and pay your EMIs.
Fees & Charges
Personal loan
Our mobile loan app can help you get a flexi loan for home renovation, debt repayment, and medical emergencies. The loan app can also get you an instant loan for business, wedding, vacation, or for any other personal expenses. Here is a step-by-step guide for availing an instant personal loan from our app:
• Download the IDFC FIRST Bank loans app
• Fill out basic information to get an approved loan offer in minutes.
• Choose a flexible loan amount EMI repayment plan
• Apply remotely and upload all your documents online
• Get the approved easy loan from IDFC FIRST Bank
The key benefits of taking an online personal loan through our personal loan app include:
• No security/collateral required
• EMI-based loans
• Freedom to choose tenures from 12 to 84 months
• Easy top ups available
Instant Personal Loan features:
1. Loan amount: ₹20,000 to ₹40 lakhs
2. Loan Tenure: 12 months to 60 months
3. Interest: Starting from 10.49%
4. Processing Fees (appx. 3%)
Eligibility:
1. Indian Citizen
2. Age above 23 years
3. Within serviceable location
Personal Loan details:
• Loan amount: 20,000- 40 lacs
• Tenure: 6 to 60 months
• Annual Percentage Rate: Min APR – 11%. Max APR – 28%. T&C apply
Representative Example:
Loan amount: ₹1,00,000
Tenure: 12 months
Interest Rate (reducing): 20%
EMI Amount: ₹9,264
Total Interest Payable: ₹11,168
Processing Fee (incl GST): ₹3,499
Disbursed Amount: ₹96,501
Total Amount Payable: ₹1,11,168
Total cost of Loan (Interest + Processing Fee): ₹14,667
Our personal loan app can also help you:
• Check your personal loan account status
• Download statements
• Apply for instant loans online
• Track your loan application
• Raise a service request
• View latest loan offers
• Calculate your EMI
• Pay your EMI online
• Option to set your loan for auto payment
With IDFC FIRST Bank’s cash loan app, you can also apply for the following:
Self-Employed Professional Loan
Do not let finance get in the way of your dreams. IDFC First Bank provides self-employed professional loans to ensure you do not settle for anything less than the best. Get scorecard-based instant approval with minimal documentation and fulfill your financial needs.
Easy Buy EMI Card
Apply for EMI cash loans without a credit card and enjoy 0% interest with the IDFC FIRST Bank loan app.
Two-Wheeler Loan
Own your two-wheeler without any hassle through a bike loan from the IDFC FIRST Bank loan app.
Home Loan
Looking to finance your dream home? Your search ends here! The IDFC FIRST Bank loan app provides home loan funds for up to 25 years in a hassle-free manner.
Business Loan
Apply for an MSME cash loan from IDFC FIRST Bank to meet your short-term working capital needs. You can also get a quick loan to fund your business’ long-term vision.
Loan against Property
IDFC FIRST Bank’s loan app can also help you get a loan against property, allowing you to borrow by mortgaging your property as collateral.
Pre-Owned Car Loan
Bring home your dream car with a pre-owned car loan from IDFC FIRST Bank. You can choose your EMI terms and get the loan amount in your account within hours.
• Download the IDFC FIRST Bank loans app
• Fill out basic information to get an approved loan offer in minutes.
• Choose a flexible loan amount EMI repayment plan
• Apply remotely and upload all your documents online
• Get the approved easy loan from IDFC FIRST Bank
The key benefits of taking an online personal loan through our personal loan app include:
• No security/collateral required
• EMI-based loans
• Freedom to choose tenures from 12 to 84 months
• Easy top ups available
Instant Personal Loan features:
1. Loan amount: ₹20,000 to ₹40 lakhs
2. Loan Tenure: 12 months to 60 months
3. Interest: Starting from 10.49%
4. Processing Fees (appx. 3%)
Eligibility:
1. Indian Citizen
2. Age above 23 years
3. Within serviceable location
Personal Loan details:
• Loan amount: 20,000- 40 lacs
• Tenure: 6 to 60 months
• Annual Percentage Rate: Min APR – 11%. Max APR – 28%. T&C apply
Representative Example:
Loan amount: ₹1,00,000
Tenure: 12 months
Interest Rate (reducing): 20%
EMI Amount: ₹9,264
Total Interest Payable: ₹11,168
Processing Fee (incl GST): ₹3,499
Disbursed Amount: ₹96,501
Total Amount Payable: ₹1,11,168
Total cost of Loan (Interest + Processing Fee): ₹14,667
Our personal loan app can also help you:
• Check your personal loan account status
• Download statements
• Apply for instant loans online
• Track your loan application
• Raise a service request
• View latest loan offers
• Calculate your EMI
• Pay your EMI online
• Option to set your loan for auto payment
With IDFC FIRST Bank’s cash loan app, you can also apply for the following:
Self-Employed Professional Loan
Do not let finance get in the way of your dreams. IDFC First Bank provides self-employed professional loans to ensure you do not settle for anything less than the best. Get scorecard-based instant approval with minimal documentation and fulfill your financial needs.
Easy Buy EMI Card
Apply for EMI cash loans without a credit card and enjoy 0% interest with the IDFC FIRST Bank loan app.
Two-Wheeler Loan
Own your two-wheeler without any hassle through a bike loan from the IDFC FIRST Bank loan app.
Home Loan
Looking to finance your dream home? Your search ends here! The IDFC FIRST Bank loan app provides home loan funds for up to 25 years in a hassle-free manner.
Business Loan
Apply for an MSME cash loan from IDFC FIRST Bank to meet your short-term working capital needs. You can also get a quick loan to fund your business’ long-term vision.
Loan against Property
IDFC FIRST Bank’s loan app can also help you get a loan against property, allowing you to borrow by mortgaging your property as collateral.
Pre-Owned Car Loan
Bring home your dream car with a pre-owned car loan from IDFC FIRST Bank. You can choose your EMI terms and get the loan amount in your account within hours.
Also Read : Axis Bank Credit Card Apply Online 2022
Loan Details
| Interest rate | 12.5% p.a.- 18% p.a. |
| Processing Fee | Up to 3.50% of the loan amount + GST |
| Loan tenure | Up to 5 years |
| Loan amount | Up to Rs.5 lakh |
Documents required
Given below is the list of documents you will have to submit in order to avail a personal loan from IDFC First Bank:
- Proof of identity such as Aadhaar Card, Passport, PAN Card, etc.
- Proof of address such as Aadhaar Card, utility bills, Passport, bank account statement, etc.
- Proof of income
- For salaried individuals: Bank statement for the last 3 months/6 months, latest salary slip
- For self-employed individuals: Income Tax Returns for the last 2 years, balance sheet for the last 2 years, bank statement for the last 6 months
- Proof of business applicable for self-employed individuals such as Qualification Certificate/Certificate of Practice (COP), Shop Act License/ MOA & 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 a personal loan by duly filing the application form online.
- If you meet the eligibility criteria, the bank will appoint a relationship manager who will come to your communication address to collect the necessary documents.
- Once your documents have been submitted, it will be verified by the bank. The process may also involve the lender having a discussion regarding your interest in availing a personal loan from them.
- If all the documents provided by you and the bank is satisfied with the reports provided, the loan amount will be approved and disbursed to your bank account.
You can also apply for a personal loan by visiting the BankBazaar website and apply for a personal loan from IDFC First Bank.
You can also visit the nearest branch of IDFC First Bank along with the necessary documents. A representative from the bank will help you with the process of applying for a personal loan from IDFC First Bank.
Also Read : Axis Bank Credit Card Apply Online 2022
Eligibility Criteria
