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.
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.
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.
Starting From Rs. 50,000 up to Rs. 20 lakhs
11.69% - 15%
From 3 months up to 60 months
1.5% of the loan amount
24 years up to 60 years
Allowed after 3 EMIs.
Allowed after 3 EMIs, 3% of outstanding amount
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.
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:
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.
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.
|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|
Minimum age of 24 years and maximum 60 years at the time of loan maturity.
Minimum monthly income is Rs. 25,000.
Complete online loan application
Fill it up online within two minutes
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
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
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
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.
You will get an instant approval on your personal loan after you fill in an easy online application form.
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.
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.
IndiaLends has a dedicated customer support team and helpline which is always ready to help with any grievances or questions from loan applicants.
At IndiaLends, applying for a IDFC Bank Personal Loan is a simple process.
Fill up an online loan application form
We will review your application and
give you a decision within minutes
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.
EMI is the amount that you will have to pay each month as repayment. You can calculate the monthly EMI on IDFC Bank personal loan using IndiaLends’ easy and simple personal loan EMI calculator. It’s easy to calculate and 100% accurate. Once you know what your EMI is, you can plan your budget and spends ahead of time.
EMIs and tenure are inversely proportional to each other. You must keep the following things in mind when you calculate the EMI on a personal loan-
For availing a personal loan from IDFC, you should fulfill the following criteria-
You can choose to transfer your current loans from other banks to IDFC Bank to enjoy better interest rates & pay everything in one place. The benefits of transferring your loan balance to IDFC Bank are as follows:
Foreclosure of a personal loan is allowed at IDFC Bank after the payment of a account holder’s third EMI payment. The charges associated with the Foreclosure will be 3% of the outstanding principal amount and GST would be charges extra.
Any individual can check their personal loan status by logging in to the IndiaLends app and click on Loan Status.
When you take a personal loan from IDFC, you can expect the following charges:
Yes, part prepayment upto 40% of loan amount every year is allowed.
If you have a salary account with IDFC Bank, you can get a better rate of interest and processing fee, faster processing and with the least documentation. The factor is taken into consideration at the time of disbursal of the loan.
Once you login to Internet Banking, click on Loans Tab. Thereafter, click Personal and then Summary. Here you can view all the loans linked to your account.
You can take a loan ranging from Rs. 50,000 to Rs. 20,00,000, depending on your income and capability to repay the loan. You can also club your spouse’s income if you want to get a larger loan.
At IDFC, the application will be processed within 5 days on a best effort basis, on receipt of all the required documents and if everything is proper. Although the approval of the loan lies solely on the discretion of the bank.
Yes, foreclosure is allowed after the third EMI payment for your personal loan. The Bank will charges foreclosure at 3% on your principal outstanding + GST.