IDFC Bank Personal Loan, Interest Rate and EMI Calculator
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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

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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


24 years up to 60 years

Prepayment Charges

Allowed after 3 EMIs.


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


Salaried individuals.


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


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.

How to calculate EMI for IDFC Bank Personal Loans?

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-

  • Personal Loan Amount
  • Personal Loan Interest Rate
  • Tenure of Personal Loan
  • Repayment Terms
  • Fees, Penalties and Other Charges

IDFC Personal Loan Eligibility

For availing a personal loan from IDFC, you should fulfill the following criteria-

  • Salaried individuals.
  • Minimum age of 24 years and maximum 60 years at the time of loan maturity.
  • Minimum monthly income is Rs. 25,000.

IDFC Personal Loan Balance Transfer

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:

  • Consolidate any of your existing loans can be into one IDFC Bank loan account.
  • Pay a consolidated EMI to just one loan account
  • Save on interest by getting a better rate when consolidating all your debts

IDFC Personal Loan Foreclosure

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.

IDFC Personal Loan Status

Any individual can check their personal loan status by logging in to the IndiaLends app and click on Loan Status.

IDFC Bank Personal Loan Fees and Charges

When you take a personal loan from IDFC, you can expect the following charges:

  • Processing Fees which is 1.5% of the loan amount
  • Foreclosure Charges of 3% only after paying 3 EMI’s

Some frequently asked questions(FAQs) regarding IDFC bank personal loan

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.

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