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Overview Eligibility Features & Benefits Fees & Charges Documents FAQs Terms & Conditions

Product Overview

IDFC FIRST Bank Personal Loan is designed to provide instant financial support for needs like medical emergencies, travel, wedding, education, or debt consolidation. It offers a fully digital process, quick approval, and flexible repayment options with competitive interest rates.

With fast processing, minimal documentation, and easy eligibility, it is a reliable option for entrepreneurs and individuals looking for quick financial assistance.

Eligibility Criteria

Applicant must be an Indian resident
Age: 21 to 60 years
Salaried or self-employed individual
Minimum monthly income: ₹25,000+
Good CIBIL score (750+ preferred, 710+ minimum)
Stable employment/business continuity

Features & Benefits

Loan Amount: ₹50,000 to ₹15 Lakh (based on eligibility)
Interest rates starting from 9.99% p.a.
Instant approval & disbursal (within minutes)
100% digital & paperless process
No collateral required (unsecured loan)
Flexible tenure from 9 months to 60 months (up to 5 years)
Zero foreclosure charges (prepayment allowed)
Suitable for salaried & self-employed individuals

Fees & Charges

Processing Fee: 0% to 3.5% + GST
Interest Rates: Starts at 9.99% p.a. (profile-based)
Processing Fee: Up to 1.5% – 3.5% of loan amount (+GST)
Foreclosure Charges: Nil (no prepayment charges)
Tenure: 9 to 60 months
Penal Charges: Applicable on overdue EMIs

Documents Required

Identity Proof (PAN Card mandatory)
Address Proof (Aadhaar / Voter ID / Passport)
Income Proof (Salary Slip / ITR / Form 16)
Bank Statements (Last 3–6 months)
Passport-size photographs

FAQs

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You can get up to ₹15 Lakh depending on your eligibility.

Interest rates start from 9.99% per annum and vary based on your profile.

The tenure ranges from 9 months to 60 months.

No, it is an unsecured loan and does not require any security.

No, IDFC FIRST Bank offers zero foreclosure charges on personal loans.

Terms & Conditions

Loan approval is subject to internal credit policies of IDFC FIRST Bank
Interest rates and loan terms vary based on applicant profile
Processing fees are non-refundable
Late payments may attract penalties and impact credit score
Final approval is at the discretion of the lender

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