Personal Loan Interest Rates 2020611 views
Highlights
- Check personal loan details before applying for the loan.
- Know your payments in advance with interest rate, tenure and loan amount.
When you apply for a loan, you expect that you get the rate as per your desire. Similarly, in the case of personal loans, the borrowers have the same expectation. At IDFC First Bank, the rate is offered on the basis of your overall profile which includes your age, income, employer category, relationship with the bank, savings/investments, and credit history. If you match all these as per the requirements of the bank, you are most likely to get a lower rate of interest. Below is the comparison tool wherein you can see the different rates offered by the banks.
Apply IDFC First Personal Loan @ 10.99%* Rate
Interest Rate Comparison Tool
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Table of Contents
IDFC First Bank Personal Loan Interest Rates September 2020
Below is the table representing the personal loan interest rate, tenure and loan amount at IDFC First Bank. You can go through the details properly before applying for the loan.
| Particulars | Details |
|---|---|
| Interest Rates | 10.99% - 22.00% |
| Loan Amount | INR 1 Lakh - INR 40 Lakh |
| Tenure | 1 to 5 Years |
| Processing Fee | 2.00% - 2.50% of the loan amount |
| Foreclosure Charges | 5% on the principal outstanding amount |
IDFC First Bank Personal Loan Interest Rates According to Different Professions
IDFC First Bank Personal Loan Interest Rates are different for salaried and self-employed. Let’s know their rates in the below tables.
Personal Loan Rates for Salaried
| Company Category | Rack Rate - Simple Personal Loan (In Per Annum) | Rack Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| Top 14 | 14% | 15% |
| Top 200 | 15% | 16% |
Prime Locations
| Company Category | Interest Rate - Simple Personal Loan (In Per Annum) | Interest Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| Rest of SA/A | 16% | 17% |
| B | 17% | 19% |
| C/D | 18% | 20% |
Growth Locations
| Company Category | Interest Rate - Simple Personal Loan (In Per Annum) | Interest Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| Rest of SA/A | 18% | 19% |
| B | 19% | 20% |
| C/D | 20% | 22% |
Personal Loan Rates for Salaried Working in Proprietorship and Partnership Firms
| Proprietorship/Partnership - CATD | Interest Rate - Simple Personal Loan (In Per Annum) | Interest Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| Prime | 32% | 34% |
| Growth | 34% | 36% |
Personal Loan Rates for Self-employed
The rates for self-employed is segregated based on Prime Locations and Growth Locations.
Prime Locations
| Loan Slab | Interest Rate - Simple Personal Loan (In Per Annum) | Interest Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| 1-2.99 Lakh | 26% | 28% |
| 3-9 Lakh | 23% | 25% |
Growth Locations
| Loan Slab | Interest Rate - Simple Personal Loan (In Per Annum) | Interest Rate - Smart Personal Loan (In Per Annum) |
|---|---|---|
| 1-2.99 Lakh | 28% | 29% |
| 3-9 Lakh | 25% | 26% |
