|Loan Amount||Rs. 5000 to Rs. 5,00,000|
|Tenure||3 months to 42 months|
|Processing Fee||2% - 6% + GST* (Additional Upto ₹500 will be charged as Convenience fee|
|Minimum Monthly Income||Rs. 23000 onwards|
|Interest Rate||12.75% - 44% p.a.|
|Loan Processing Charges||2% - 6% + GST (Additional Up to ₹500 as Convenience Fees)|
|Penal Charges, Late Payment Charges, Defaults of Any Monies Payable||2% Compounded Monthly|
|Cheque / ACH Return Charges||₹500 + GST per instance|
Freedom to Use as You Wish
With an IIFL Personal Loan, experience the liberty of using your loan amount for any purpose you desire. Be it renovating your home, planning a dream vacation, or managing unexpected expenses, the choice is entirely yours. There are no restrictions on how you can use your funds.
Say Goodbye to Collateral Worries
One of the biggest perks of choosing an IIFL Personal Loan apply online is the 'No Collateral' feature. This means you don't have to pledge any assets to secure your loan. Whether you're a tenant or an asset owner, you have equal access to financial aid without any additional stress.
Streamlined Documentation - Easy and Efficient
Bid farewell to cumbersome paperwork! IIFL prioritizes your convenience with a hassle-free documentation process. The simple and straightforward procedure ensures your loan journey is smooth and stress-free, leading you quickly to your financial goals.
Flexible Repayment Plans - Tailored for Comfort
Ease your financial burden with IIFL's flexible repayment options. These tailor-made plans are designed to align with your financial situation, ensuring repayments are manageable and not a strain on your budget.
Swift Loan Disbursal - When Time Matters
In urgent need of funds? IIFL's quick personal loan disbursal process ensures that you get the financial support you need, exactly when you need it. Speedy processing and disbursal mean you won't have to wait long to receive your funds.
Attractive Interest Rates - Your Wallet's Best Friend
Experience the advantage of attractive interest rates with IIFL Personal Loans. These competitive rates ensure that repaying your loan doesn't become a financial burden, making it an intelligent choice for your borrowing needs.
Eligibility Requirements for Salaried Individuals Seeking Indian Infoline Finance Personal Loans:
IIFL Personal Loan Eligibility Conditions for Self-Employed Applicants:
To secure an IIFL personal loan, applicants must furnish the undermentioned documents:
Bank Statements: Provide statements from both current and savings accounts, covering a period of 6 to 12 months."
|Processing Fee||Up to 2%-6% of loan amount|
|Penal Charges, late payment, Defaults of any money payable||2% compounded monthly|
|Prepayment Charges||NIL (allowed only after 6 months of repayment)|
When you opt for an IIFL Finance Personal Loan, understanding your monthly repayment amount is crucial for effective financial planning. The EMI (Equated Monthly Installment) is determined by three key factors: the loan amount, the interest rate, and the loan tenure.
Let’s say you secure a personal loan of ₹5,00,000 from IIFL Finance. With an annual interest rate of 10.50% and a loan repayment period of 42 months (3.5 years), your EMI can be calculated as follows:
Given these parameters, the EMI for your loan would be approximately ₹14,963. This amount represents the monthly payment you need to make, which covers both the principal and the interest. The calculation is designed to provide a clear understanding of your monthly outgo, aiding in effective budget management.
Repaying a personal loan from IIFL (India Infoline Finance Limited) is designed to be a straightforward and flexible process. Understanding the repayment structure and options available is crucial for borrowers to manage their finances effectively.
Here’s an overview of what you need to know:
Experience the convenience of handling your loan account right from your smartphone with the innovative IIFL Loans Mobile App, available for both Android and iOS devices. This user-friendly app puts a wealth of features and information at your disposal:
Applying for an IIFL Personal Loan through MyMoneyMantra involves a streamlined and user-friendly process. Here's a step-by-step guide to help you through the application:
Using MyMoneyMantra for your IIFL Personal Loan application can simplify the process, providing a one-stop platform for comparing loan offers, completing paperwork, and receiving guidance throughout the application process.
IIFL offers dedicated customer support to address any queries or concerns you might have regarding their services. You can easily get in touch with their customer care team through multiple channels. For immediate assistance, you can call their toll-free number at 1860-267-3000, where their representatives are available to provide support and answer your questions. Alternatively, for less urgent queries or if you prefer written communication, you can email them at email@example.com. Whether it's a question about your loan, investment, or any other service offered by IIFL, their customer care team is equipped to provide you with the necessary assistance and guidance.
Now get IDFC First Bank personal loan of Rs. 20000 to Rs. 1 Crore at lowest interest rate starting from just 10.49% per annum and the processing fee is 3.5% of the sanctioned limit + GST.
IIFL offers quick service to all customers when it comes to personal loans. You can expect the entire loan process to take place within a few hours, making it one of India's most feasible personal loan schemes.
Processing fees remain on the lower side for the IIFL personal loan. You can expect a prompt response from the customer service in case you have any queries and concerns regarding the loan.
Another reason to consider applying for the loan is the fact that they require minimal documents for personal loans compared to other banks.
On average, for the lowest interest rate and the lowest tenure, the lowest EMI per lakh remains around 2705/- per month based on your financial and personal details. It may vary depending on the interest rate, your preferred tenure, and the principal amount you borrow from IIFL.
In order to check your IIFL personal loan application, the steps that you need to follow are listed here:
If you wish to pay the rest of your loan amount in the middle of your tenure, you can do so after six months from the beginning of the loan tenure. IIFL Finance does not charge any prepayment fees for those who prepay the whole amount in the middle of the tenure.
Yes, IIFL (India Infoline Finance Limited) is considered safe for personal loans. It is a reputable financial services company with a strong presence in India, known for its range of financial products including personal loans. The company operates under the regulations set by financial authorities, ensuring a secure and reliable borrowing experience.
To foreclose an IIFL personal loan, you should contact IIFL customer service or visit an IIFL branch. You will need to inform them of your intention to foreclose the loan. They will provide you with the outstanding amount and any applicable foreclosure charges. After paying the required amount, ensure you get a closure letter or certificate from IIFL, confirming the foreclosure of your loan.
The minimum salary requirement for an IIFL personal loan is primarily around Rs. 23000; but it may vary based on various factors like location, employment type, and credit history.
The full form of IIFL is "India Infoline Finance Limited." It is a diversified financial services company headquartered in India, offering a wide range of financial products and services.
The duration or tenure of an IIFL personal loan can vary from 3 months to 42 months. Generally, IIFL offers personal loans with flexible repayment options, and the tenure can range from a few months up to several years, depending on the borrower's preference and eligibility. The exact tenure options can be confirmed by contacting IIFL or visiting their official website.
The interest rates on IIFL Personal Loans vary based on several factors like the loan amount, tenure, and the borrower's credit profile. It's advisable to check the latest rates directly on the IIFL website or by contacting their customer service. Currently the IIFL personal loan interest rates start from 12.75% p.a.
Typically, IIFL requires proof of identity (like Aadhar card, PAN card), proof of address (like utility bills, Aadhar card), income proof (like salary slips, bank statements), and employment proof for personal loan applications. The exact requirements may vary, so it's best to consult IIFL's official guidelines.
Yes, you can apply for an IIFL Loan online through the IIFL website or mobile app. The online IIFL personal loan apply process is streamlined and user-friendly, allowing you to upload documents and track your application status.
The disbursal time for an IIFL Personal Loan can vary depending on the verification process and documentation. However, IIFL is known for quick processing, and in many cases, loans are disbursed within a few days of application approval.
IIFL may levy prepayment charges for personal loans, which are typically a percentage of the outstanding loan amount. Currently the IIFL personal loan prepayment charges stand at 0 that means there is no charge that is being asked bu the bank.
Generally, IIFL Personal Loans are unsecured loans, which means they don't require a guarantor or collateral. However, the final terms depend on the loan amount and the borrower's creditworthiness.
Yes, IIFL offers the facility to top up your existing personal loan based on your repayment history and eligibility. You can contact IIFL customer service for details on how to apply for a top-up loan.
You can track your IIFL Personal Loan application status through the IIFL website or mobile app using your application reference number. Additionally, you may receive updates through SMS or email.