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IDFC First Bank Personal Loan

IDFC bank brings the opportunity for the customers to accomplish their personal goals with personal loans. The bank treats customers with the financial solutions by offering the personal loan at attractive interest rates and minimum processing charges. Besides that, you are offered to repay the loan within a flexible tenure. The IDFC First bank personal loan gives you the ease of a paperless procedure and makes sure you have an experience where there’s no fuss.

IDFC Bank Personal Loan Interest Rates & Charges

Loan Amount

Ranges up to Rs 40 lakh 

Interest Charges

Starts at 10.75% 

Processing Fees

Up to 2.5% of loan amount + applicable taxes 


Up to 6-60 months

Prepayment Charges

Up to 5% of the principal loan amount

IDFC Personal Loan: Features and Benefits

From competitive interest rates to balance transfer facility, here are the attractive features and benefits of IDFC bank personal loan that you cannot skip:

1. Financial Solution : There are tons of reasons which can lead you to consider the personal loan as the only financial savior to fund your purposes. Whether it is you children’s education expenses or the long, long vacations you want to take, sometimes you are just one personal loan away from fulfilling your goals. Thus, IDFC bank personal loan is there to ensure your personal purposes are not obstructed by the lack of finances and offers you the loan at affordable rates.

2. Loan Amount : The IDFC First bank personal loan brings you financial comfort with the personal loan that ranges up to Rs 40 lakh. The loan amount you can avail can be affected by many factors such as the purpose you are availing the loan for, your creditworthiness, repayment ability, your income etc. You can reach out to the IDFC First bank to know more about that.

3. Interest Charges : The IDFC First personal loans are offered at attractive rates of interest. The interest charges are affected by multiple factors such as tenure, borrower’s profile etc. IDFC bank personal loan interest rates start at 10.75%. 

4. Loan Repayment Tenure : IDFC First bank gives you the comfort of repaying your personal loan with easy repayment options. You are allowed to make up to 40% part payment and the tenure you get to repay the amount within ranges from 6 months to 60 months. 

5. Prepayment : You are allowed to prepay your IDFC First personal loan and close it already. You can make the prepayment only after paying 12 EMIs. The bank charges up to 5% of the outstanding principal amount as foreclosure/prepayment fee. 

6. Balance Transfer : IDFC bank allows you to transfer your high-interest-rate personal loan from another bank to IDFC bank. 

7. Application : You need not to bear any fuss when applying for an IDFC bank personal loan. You can apply for the personal loan offline or online. The bank gives you an option to enjoy the paperless application procedure. 

Eligibility Criteria for IDFC Bank Personal Loan

Are you eligible for the IDFC personal loan? The bank has certain eligibility standards to help determine whether you qualify to avail the personal loan or not. These standards are based on factors such as your income, age, employment stability etc.

Here is the eligibility criteria for IDFC personal loan:

  • The salaried and self employed individuals can apply for the IDFC bank personal loan.
  • The minimum age of salaried applicants should be 23 years and the self employed individuals should be at least 25 years. 
  • The maximum age of a salaried borrower should not be more than 60 years at the time of loan maturity.
  • The maximum age of a self employed individual should not exceed 65 years at the time of loan maturity.
  • The individuals should have a stable business. 
  • The individuals should have a good credit record.

Documents Required for IDFC Bank Personal Loan

Here are the documents required for IDFC personal loan:


Salaried Individuals

Self Employed Individuals

Identity Proof

Aadhar Card, Passport, Driving Licence, Voter ID Card

Aadhar Card, Passport, Driving Licence, Voter ID Card

Address Proof

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Income Proof

Salary Slips, Bank Statement, Form 16, Salary Certificate

IT returns, Bank Statements, Balance Sheet and Profit & Loss Account, Challans Showing Payment of Advance Income Tax

Other Documents

Passport-size Photographs, Application Form

Passport-size Photographs, Application Form


AXIS Bank Personal Loan 12% to 24%
SBI Personal Loan 11.30% to 16.40%
Indian Bank Personal Loan 9.05% onwards
HDFC Bank Personal loan 10.75% to 21.50%
Kotak Mahindra Bank Personal Loan 10.50% to 16.99%
Yes Bank Personal Loan 20.00% to 22.00%
Citi Bank Personal Loan 10.50% to 17.99%
ICICI Bank Personal Loan 10.99% to 16.25%
Standard Chartered Bank Personal Loan 11.00% to 19.20%
IDBI Bank Personal Loan 12.00% to 14.00%
RBL Bank Personal Loan 14.00% to 23.00%
HSBC Bank Personal Loan 10.75% to 17.84%
IndusInd Bank Personal Loan 11.00% to 16.75%
Bank of Baroda Personal Loan 7.65% to 12.65%
Bank of India Personal Loan 12.15% to 14.15%
Canara Bank Personal Loan 12.05% onwards

IDFC Bank Personal Loan EMI Calculator

You can count on the IDFC Personal Loan EMI Calculator to find out the total payable amount per month you will have to pay. Since, IDFC bank allows you to repay the personal loan in Equated Monthly Installments (EMIs), you can use the calculator to see the total amount you will be paying every month.

Here is how to use IDFC personal loan EMI calculator:

  • Go to the IDFC bank’s official website.
  • Move to the “Loans” dropdown menu. 
  • Click on the “Personal Loan” option.
  • Hit the “Personal Loan EMI Calculator” section on the page.
  • Input the total personal loan amount along with the loan repayment period and the interest rate.

The total EMI which you will pay every month will now be visible below the calculator. 

How to Apply for IDFC First Bank Personal Loan?

To apply for an IDFC First personal loan, you can opt for an offline or online method. In order to apply for the loan offline, you can visit the nearest branch IDFC First bank with the necessary documents that are required to be presented at the time of application. However, the bank allows you to apply for the IDFC personal loan online which is probably the most convenient way out there. 

Here is how to apply for the IDFC bank personal loan online:

  • Visit the official IDFC First bank website.
  • Navigate to the “Loans” dropdown menu.
  • Click on the “Personal Loan’ option from the dropdown.
  • Now that you are on the page for personal loan, you can hit the “Apply Now” button.
  • On the next page, you have to start filling the necessary information for the loan application.
  • Hit the “Continue” button to take the application ahead.

You can contact the IDFC First customer service to get to know more about the personal loan application.

IDFC First Bank Customer Care

If you have any query regarding your personal loan eligibility, process and other requirements or if something is troubling you with the procedure, you can simply reach out the customer helpline of IDFC First bank and find solutions.

1860 500 9900
FAQs On IDFC First Bank Customer Care

Q.1 Do I need to offer any security or collateral for personal loan?

IDFC bank does not require borrowers to provide any security in order to avail personal loan. However, it also depends on the bank’s discretion and the creditworthiness of a borrower. 

Q.3 Are IDFC bank personal loan interest charges reducing?

Yes. The IDFC bank personal loan interest charges are calculated on daily reducing balance which means the interest rate that is applicable reduces with the reducing outstanding principal amount.

Q.4 What if I default the repayment?

If you fail to pay the EMI or make late payment, the bank will charge you 2% of the EMI amount as penalty. 

Last Updated on : 12/Apr/2021

Know More About

Idfc First Bank Personal Loan

You're eligible for a Idfc First Bank Personal Loan if you:

Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck

Your eligibility depends on:

Earn more than minimum income required

Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs

EMIs of other loans loweryour eligibility

Boost your eligibility by:

Pay off your credit card bills

Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Idfc First Bank Personal Loan Interest Rates

Updated on 25 Nov 2017

Idfc First Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 10.75% - 18%
Processing Fees Upto 2.5%
Loan Tenure 1 year to 4 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount


Interest Rate


Loan Tenure


Your Monthly Loan EMI