IDFC FIRST Bank Personal Loan Interest Rates

• You can benefit from paperless approval.
• To apply for this loan, you do not need a guarantor.
• There are no foreclosure fees if you close your account within six months of the loan's approval. If you shut your account within six months of receiving a loan, you must pay a foreclosure fee of 5% of the outstanding principal amount.

Here is the table to show the IDFC Personal Loan Interest Rate-

There are varied types of personal loans that are offered by the IDFC First Bank-

• The purpose of a wedding loan is to cover the financial needs of a wedding.
• Maximum loan amount: Rs 40 lakh
• Up to 3.5% of the loan amount is charged as a processing fee.

• The purpose of this online paperless personal loan is to cover financial needs during unexpected circumstances.
• Duration: up to 5 years.

The purpose of this online rapid personal loan is to cover the financial needs of a vacation.

A personal Loan Balance is a goal. Transfer facility for existing personal loans transferred from other banks/NBFCs to IDFC First Bank at cheaper interest rates. Six months to 5 years tenure.

To be qualified for a Personal Loan from IDFC Bank,

• A salaried or self-employed applicant must meet the requisite minimum 3-year company continuity criteria. If the applicant is self-employed, his or her profit after tax (PAT) should have been positive for the past two years.
  
  
• Between the ages of twenty-three and fifty-eight if employed, or 28 and 68 if self-employed.

The following documents are required to be provided in order to obtain a personal loan from IDFC First Bank-

• Aadhaar Card, Passport, PAN Card, and other forms of identification
• Aadhaar card, utility bills, passport, bank account statement, etc. as proof of address
• Income documentation
• For salaried employees, provide a bank statement from the last three months/6 months, as well as the most recent salary slip.
• ITR for the last 2 years - a balance sheet for the last two years, and the bank statement for the last six months are required for self-employed individuals.
• Self-employed individuals must provide proof of business, such as a Qualification Certificate/Certificate of Practice (COP), Shop Act License/MOA & AOA/Sales Tax/Vat registration/Partnership Deed.