IDFC First Bank Personal Loan Interest Rates

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 @ 10.49%* Rate

Interest Rate Comparison Tool

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IDFC First Bank Personal Loan Interest Rates April 2021

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
SalariedSelf-Employed
Interest Rates10.49% - 32.00%10.49% - 32.00%
Loan AmountINR 1 Lakh - INR 40 LakhINR 1 Lakh - INR 9 Lakh
Tenure12 to 60 Months12 to 48 Months
Processing FeeINR 6999 - 2.50% of the loan amountSame as Salaried
Foreclosure Charges5% on the principal outstanding amount (applicable for both Simple & Smart Loans)Same as Salaried
Part Payment Charges2% part payment charges applicable on partial payment ( Applicable only on Smart Loans)Same as Salaried

Special Offer

Employer CategoryFor Loan Amount of INR 10 Lakh - 20 LakhProcessing Fee (In INR)For Loan Amount of INR 20 Lakh - 40 LakhProcessing Fee (In INR)
CAT SA/A10.99%999910.49%6999
CAT B12.49%999911.49%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/CategoryInterest Rate (Simple Personal Loan)Interest Rate (Smart Personal Loan)
Top 1412%13%
Top 20013%14%
Rest of SA/A17%18%
B18%20%
C/D20%22%

Interest Rates for salaried having a net monthly income of more than INR 50,000 to INR 80,000

Company/CategoryInterest Rate (Simple Personal Loan)Interest Rate (Smart Personal Loan)
Top 1412%13%
Top 20013%14%
Rest of SA/A16%17%
B17%19%
C/D19%21%

Interest Rates for salaried having a net monthly income of more than INR 80,000

Company/CategoryInterest Rate (Simple Personal Loan)Interest Rate (Smart Personal Loan)
Top 1411%12%
Top 20012%13%
Rest of SA/A13%14%
B15%17%
C/D17%19%

Self-employed/Proprietorship/Partnership

Loan SlabInterest Rate (Simple Personal Loan)Interest Rate (Smart Personal Loan)
1-2.99 Lakh26%28%
3-9 Lakh23%25%
Proprietorship/Partnership - CATD30%32%

Note – Rates shown for salaried and self-employed above are for loan amounts of more than INR 1 lakh

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