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IDFC Personal Loan

A personal loan from IDFC bank can be easily obtained by a customer looking for an instant personal loan to cover their unexpected expenses. IDFC Bank offers three types of personal loan products especially crafted for their customers namely, Simple Personal Loan (that can be borrowed easily by a salaried individual), Smart personal Loan (that has a part-payment facility which is offered free of cost) and Personal Loan Balance transfer facility (that allows customers to consolidate their existing loans into a single IDFC bank loan account). An IDFC Personal Loan can be availed for various purposes such as paying off medical bills, covering wedding expenses, travelling, purchasing personal durable goods etc. and is also known as a multi-purpose loan.

Apply IDFC Personal Loan

Please enter your Name
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Please enter a valid Residence Pincode
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
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Why Choose IDFC Bank Personal Loan?

A personal loan from IDFC Bank has several benefits and it comes with unique offers. Here are a few reasons why you should apply for a Personal Loan.

  • Competitive interest rates
  • Instant approval
  • Easy documentation process & 100% transparency
  • Zero part-payment charges
  • Flexible loan tenure, ranging from 3 to 60 months
  • Zero hidden charges and low processing fee
  • Fast disbursal with money in your account within 2 days

IDFC Bank Personal Loan Interest Rate

The rate of interest will range from 11.69 % to 15% p.a. It will depend on the customer’s credit score, credit history, the relationship with the bank, and the bank’s internal policies.

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 and Benifits

Multi-purpose Loan

A personal loan from IDFC bank can come handy when you are in urgent need of cash. Be it expanding your business or taking your dream vacation, an online personal loan can be used for numerous purposes.

Loan Amount

IDFC Bank gives you a loan amount ranging from Rs. 50,000 to Rs. 20 lacs.

Fixed Rate of Interest

The rate of interest is fixed, and is charged on a monthly reducing basis. It is calculated on the overdue amount i.e., the amount to be repaid after the EMI and interest is paid.

Flexible loan tenure, EMI and Payment Options

IDFC bank offers personal loans at an attractive interest rate with a loan tenure ranging from 3 months to 60 months. The loan amount can be paid based on monthly installments.

Personal Loans Repayment Options:

  • Standing instructions for an auto-debit from your existing IDFC account
  • Via ECS (Electronic Clearing System)
  • PDC (Post-dated cheques)

Personal Loan as an Unsecured Loan

You can avail a personal loan from IDFC bank without pledging any security. Hence, these loans are known as unsecured loans.

Minimal Documentation

Taking a personal loan from IDFC bank involves simple and minimal paperwork.

Affordable Interest Rates

The rate of interest for a personal loan starts from 11.69% onwards and can fluctuate with the changes in bank’s internal policies. A good credit score will help you to get a loan at a decent interest rate and at good terms and conditions.

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

IDFC Bank Personal Loan Eligibility Criteria

1.

Salaried individuals.

2.

Minimum age of 24 years and maximum 60 years at the time of loan maturity.

3.

Minimum monthly income is Rs. 25,000.

IDFC Bank Personal Loans Documents Required

Complete online loan application

Fill it up online within two minutes

Identity Proof

Aadhar Card/ Passport/ Driving License/ Voter ID/ PAN

Residential Address Proof

Aadhar Card/ Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

Income Documents

Salary slip for the past 3 months, Form 16 for two years, Bank statement showing salary credit and any EMI debit for the past 3 months

Documents Required

Why Apply for IDFC Personal Loans at IndiaLends?

IDFC Bank has collaborated exclusively with IndiaLends, an online marketplace which offers low-interest personal loans best suited for your needs. If you are seeking a Personal Loan with IDFC Bank, you can simply fill up an online loan application form after checking your Personal Loan Eligibility. Moreover, you can use an online Personal Loan EMI calculator available at our website to calculate your affordability.

Personalised Loan Offers

At IndiaLends, you can receive personalised loan offers and best deals at the best rate of interest. This is due to a tie-up with IDFC Bank, which helps you get the best deal on your personal loan as per your profile.

Instant Approval

You will get an instant approval on your personal loan after you fill in an easy online application form.

Cash within 2 days

Soon after the loan is approved, the funds are transferred right into the borrower’s bank account within two working days. Thus, we need no room for delay.

Real Time Tracking Facility

After submission of your loan application at IndiaLends, you can track your application online and moreover, will receive updates of your submitted application form using both email and SMS.

Dedicated Customer Support

IndiaLends has a dedicated customer support team and helpline which is always ready to help with any grievances or questions from loan applicants.

How to Apply for IDFC Personal Loans at IndiaLends?

At IndiaLends, applying for a IDFC Bank Personal Loan is a simple process.

Step 1

Fill up an online loan application form

Step 2

We will review your application and
give you a decision within minutes

Step 3

You will be receiving your Cash within few days

We will forward your loan application to your nearest IDFC Bank branch. You can also check the status of your loan application through SMS alerts as well as emails.

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