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 @ 10.50%* Rate
Interest Rate Comparison Tool
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IDFC First Bank Personal Loan Interest Rates October 2022
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 | Salaried | Self-Employed |
|---|---|---|
| Interest Rates | 10.50% - 25% | 10.50% - 25% |
| Loan Amount | INR 1 Lakh - INR 1 Crore | INR 1 Lakh - INR 1 Crore |
| Tenure | 12 to 60 Months | 12 to 48 Months |
| Processing Fee | 1% of the loan amount + GST | Same as Salaried |
| Foreclosure Charges | 5% on the principal outstanding amount (applicable for both Simple & Smart Loans) | Same as Salaried |
| Part Payment Charges | 2% part payment charges applicable on partial payment ( Applicable only on Smart Loans) | Same as Salaried |
Special Offer
| Employer Category | For Loan Amount of INR 10 Lakh - 20 Lakh | Processing Fee (In INR) | For Loan Amount of INR 20 Lakh - 40 Lakh | Processing Fee (In INR) |
|---|---|---|---|---|
| CAT SA/A | 10.99% | 9999 | 10.49% | 6999 |
| CAT B | 12.49% | 9999 | 11.49% | 6999 |
Note – The special offer is applicable to loan application login date of April 1-25, 2021.
IDFC First Bank Personal Loan Interest Rates According to Different Customer Profiles
IDFC First Bank sets personal loan interest rates based on the overall profile of customers. The lender checks the profession and income of customers to set an interest rate for them. Let’s check out the table below to know the rates of salaried and self-employed.
Salaried
Check below the interest rates for salaried having a net monthly income of less than INR 50,000
| Company/Category | Interest Rate (Simple Personal Loan) | Interest Rate (Smart Personal Loan) |
|---|---|---|
| Top 14 | 12% | 13% |
| Top 200 | 13% | 14% |
| Rest of SA/A | 17% | 18% |
| B | 18% | 20% |
| C/D | 20% | 22% |
Interest Rates for salaried having a net monthly income of more than INR 50,000 to INR 80,000
| Company/Category | Interest Rate (Simple Personal Loan) | Interest Rate (Smart Personal Loan) |
|---|---|---|
| Top 14 | 12% | 13% |
| Top 200 | 13% | 14% |
| Rest of SA/A | 16% | 17% |
| B | 17% | 19% |
| C/D | 19% | 21% |
Interest Rates for salaried having a net monthly income of more than INR 80,000
| Company/Category | Interest Rate (Simple Personal Loan) | Interest Rate (Smart Personal Loan) |
|---|---|---|
| Top 14 | 11% | 12% |
| Top 200 | 12% | 13% |
| Rest of SA/A | 13% | 14% |
| B | 15% | 17% |
| C/D | 17% | 19% |
Self-employed/Proprietorship/Partnership
| Loan Slab | Interest Rate (Simple Personal Loan) | Interest Rate (Smart Personal Loan) |
|---|---|---|
| 1-2.99 Lakh | 26% | 28% |
| 3-9 Lakh | 23% | 25% |
| Proprietorship/Partnership - CATD | 30% | 32% |
Note – Rates shown for salaried and self-employed above are for loan amounts of more than INR 1 lakh
IDFC First Personal Loan Interest Rates FAQs
1. What is the current IDFC first personal loan interest rate?
IDFC First Bank offers Personal Loans at affordable Interest Rates starting from 10.50% p.a.
2. What is the interest rate of IDFC first personal loan 2022?
The interest rates on IDFC personal loan 2022 start from 10.50% p.a. And can range upto a maximum of 25% p.a.
3. What is the rate of interest of 3 lakh in IDFC first bank?
Interest rate on a personal loan of INR 3 lac. Can range anywhere from 10.50% p.a. To 25% p.a. However, the interest rates on a small loan amount can depend on your personal relations with the bank branch in which you are applying for a loan.
4. What is the interest of 7 lakh in IDFC first bank?
The interest of INR 7 lakh IDFC First Bank personal loan would depend on the loan tenure. Generally the interest rate can start from 10.50% p.a.
5. What is the interest of 5 lakh in IDFC first bank?
IDFC First Bank generally charges interest rates starting from 10.50% p.a. and can reach a maximum of 25% p.a. However, the interest rates are highly influenced by your CIBIL score.
6. What is the rate of interest of 10 lakh in IDFC first bank?
IDFC First Bank is more likely to charge an affordable rate of interest on a loan amount of INR 10 lac. The interest rate is influenced by a lot of factors like the loan amount, applicant’s CIBIL score, personal relations with the bank branch, etc.
7. What will be the interest rate of IDFC first personal loan for senior citizens?
Senior citizens are generally not given approvals on their loan applications. However, if any application is given approval it is more likely to be charged a higher rate of interest.
8. What will be the interest rate of IDFC first personal loan for women?
Any loan above INR 1 lakh is most likely to be charged an interest rate starting from 10.50% p.a. To 25% p.a.
9. What is IDFC first Personal Loan Customer Care number?
You can reach out to the IDFC First Bank’s customer care service by dialing 1860 500 9900.
10. How can I negotiate with IDFC first on the personal loan interest rate?
It depends on how your relation is with the IDFC First Bank branch in which you are applying for a personal loan. You can negotiate for the interest rate that the bank is charging on your personal loan application.