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 @ 10.99%* Rate

Interest Rate Comparison Tool

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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 Rates10.99% - 22.00%
Loan AmountINR 1 Lakh - INR 40 Lakh
Tenure1 to 5 Years
Processing Fee2.00% - 2.50% of the loan amount
Foreclosure Charges5% 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 CategoryRack Rate - Simple Personal Loan (In Per Annum)Rack Rate - Smart Personal Loan (In Per Annum)
Top 1414%15%
Top 20015%16%

Prime Locations

Company CategoryInterest Rate - Simple Personal Loan (In Per Annum)Interest Rate - Smart Personal Loan (In Per Annum)
Rest of SA/A16%17%
B17%19%
C/D18%20%

Growth Locations

Company CategoryInterest Rate - Simple Personal Loan (In Per Annum)Interest Rate - Smart Personal Loan (In Per Annum)
Rest of SA/A18%19%
B19%20%
C/D20%22%

Personal Loan Rates for Salaried Working in Proprietorship and Partnership Firms

Proprietorship/Partnership - CATDInterest Rate - Simple Personal Loan (In Per Annum)Interest Rate - Smart Personal Loan (In Per Annum)
Prime32%34%
Growth34%36%

Personal Loan Rates for Self-employed

The rates for self-employed is segregated based on Prime Locations and Growth Locations.

Prime Locations

Loan SlabInterest Rate - Simple Personal Loan (In Per Annum)Interest Rate - Smart Personal Loan (In Per Annum)
1-2.99 Lakh26%28%
3-9 Lakh23%25%

Growth Locations

Loan SlabInterest Rate - Simple Personal Loan (In Per Annum)Interest Rate - Smart Personal Loan (In Per Annum)
1-2.99 Lakh28%29%
3-9 Lakh25%26%

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