IDFC FIRST Personal Loan Interest Rates vary depending upon the type of loan you are applying for. IDFC FIRST Bank offers four types of personal loans, viz., Personal Loan, Cross Sell – Personal Loan, Cross Sell Personal Loan (Personal Loan to existing customers), and Consumer Durable Loans & Consumption Loans.
Apart from IDFC FIRST Personal Loan Interest Rate, you will have to bear the following expenses on the loan:
|Processing fee||Up to 3.5% of the loan amount|
|Foreclosure charges||5% of principal outstanding|
|Part prepayment fee|
|Charges for overdue interest||2% of the EMI unpaid or Rs. 300, whichever is higher|
|Charges for repayment instrument swap||Rs. 500 per change request|
|EMI bounce||Rs. 400 for each bounce|
|Duplicate NOC/ NDC||Rs. 500 per request|
|Statement of Account (Adhoc/ Duplicate)||Rs. 500|
|Charges for cancellation or rebooking of loan||1% of loan amount + interest from the disbursal date till receiving the cancellation request|
|Charges for document retrieval||Rs. 500 per retrieval|
|Physical repayment schedule||Rs. 500|
|Charges for EMI pick-up/ collection||Rs. 350|
|Stamping charges||As per actual|
The assessment of the loan amount, the company you work with, obligation, loan tenure, salary, and other factors can help you get the best Personal Loan interest rates from IDFC FIRST. Below mentioned factors help to determine the Personal Loan rate of interest from IDFC FIRST:
|Personal Loan Interest Rates by Banks|
Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years.
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The decision on a loan is conveyed to the borrower within 15 days of the loan application. Some banks may offer instant loan offers and schemes, which can be approved within a few hours to 2-3 days.
IDFC FIRST offers loan at interest rate starting from as low as 9.20% with the lowest EMI of Rs. 2,086 Per Lakh. In case one is paying EMI more than this then one can think for balance transfer and relocate the loan to IDFC FIRST.
IDFC First Personal Loans rates are between 9.20% and 40%. The Personal Loan interest rates for salary account holders are comparatively lower than that for other customers at IDFC FIRST.
If you apply for a loan from IDFC FIRST, your lowest EMI per lakh will be Rs. 2,086.
The repayment of the Personal Loan can be done in a flexible period of minimum 12 months to maximum 84 months.
IDFC FIRST offers a minimum amount of Rs. 1 Lakh to a maximum amount of Rs. 40 Lakhs.
IDFC FIRST charges a processing fee of up to 3.5% of the sanctioned loan amount with applicable service tax.
Yes, age is an important eligibility factor to get a Personal Loan the minimum age of 23/28 (salaried/self-employed) years is required to get the loan approved and maximum 58/68 (salaried/self-employed) years at the time of loan maturity.
The prepayment charges for prepaying the IDFC FIRST Personal Loan are up to 5%.
You can apply with your spouse as a co-applicant and can combine your income with the income of your spouse in order to get a higher loan amount and increase your loan eligibility.