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IDFC First Bank 5 Lakh Personal Loan

IFDC First Bank personal loans are offered up to Rs. 10 lakh. These loans are available at an competitive interest rate starting from 9.99% p.a. IDFC First Bank personal loans can be repaid over a tenure ranging between 9 to 60 months, require minimal documentation and no collateral or security.
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Interest Rates for 5 Lakh IDFC First Bank Personal Loan

IDFC First Bank personal loan interest rate starts at 9.99% p.a. for applicants availing a loan amount of Rs. 5 lakh. However, the interest rate offered may vary based on the credit profile of the applicant, loan amount and tenure desired,  income and employment stability, existing relationship with the bank, etc.

Features of Lakh IDFC First Bank Personal Loan

Here are some of the key features of a personal loan of Rs. 5 lakh from IDFC First Bank:

  • Interest rate starts at 9.99% p.a.
  • Repayment tenure can range between 9 to 60 months
  • No foreclosure penalty/charges
  • Completely digital application process - no in-person branch visits or paperwork needed
  • Loan disbursal within 30 minutes of approval
  • No collateral/security needed and no restriction on end usage

Eligibility Criteria for 5 Lakh IDFC First Bank Personal Loan

Given below is the key eligibility criteria for applicants to avail a personal loan of Rs. 5 lakh from IDFC First Bank:

  • Needs to be aged between 21 to 60 years
  • Should be either self-employed or salaried
  • The EMI/NMI ratio of the applicant should be 50-55% including the existing EMIs and EMI of the proposed personal loan.

Documents Required for IDFC First Bank Personal Loan of 5 Lakh

No physical documents are required to avail a personal loan of Rs. 5 lakh from IDFC First Bank since the bank has a completely digital application process. You are simply required to present your physical PAN card during the video KYC process.

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Fees and Charges for 5 Lakh IDFC First Bank Personal Loan

Here are the key fees and charges associated with a personal loan of Rs. 5 lakh from IDFC First Bank:

Type of Charge Charge/Fee
Processing Fee 2% of the total loan amount (incl. GST)
Stamping Charges As per the State’s Stamp Act
Penalty on EMIs Overdue 2% of unpaid EMI
EMI Bounce Charges 7.5% of the EMI/ outstanding amount (minimum Rs. 400 and maximum Rs. 1,000)
Payment Swap Charges Nil
Foreclosure Charges Nil (Foreclosure requires a sanction letter)
Part Pre-Payment Charges Not allowed
Duplicate No Objection Certificate Rs. 500
EMI Pickup/Collection Charges Rs. 500
Document Retrieval Charges Rs. 500
Physical Statement of Account Rs. 500
Cooling-off Period Penalty Nil for 3 days (Loan can be cancelled without penalty within 3 days)
Technical Bounce Charges (Mandate Rejection Technical Bounce Charges) 7.5% of the EMI/ outstanding amount (minimum Rs. 400 and maximum Rs. 1,000)

EMI Calculation for Personal Loan of Rs. 5 Lakh for Different Tenures

Given below is the EMI calculation of personal loan of Rs. 5 lakh from IDFC First Bank offered at an interest rate of 9.99% p.a. for different tenures. Applicants planning to get a personal loan can calculate the EMI and total interest cost that they will have to pay throughout the loan tenure using the online personal loan EMI calculator.

Loan Amount Loan Tenure Interest Rate (p.a.) EMI (Rs.)
Rs. 5,00,000 1 year 9.99% 43,956
Rs. 5,00,000 2 years 9.99% 23,070
Rs. 5,00,000 3 years 9.99% 16,131
Rs. 5,00,000 4 years 9.99% 12,679
Rs. 5,00,000 5 years 9.99% 10,621

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

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All Your Needs

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FAQs

How can I utilise my IDFC First Bank 5 Lakh personal loan?

You can use your IDFC First Bank 5 lakh personal loan to meet any personal financial need such as medical expenses, wedding expenses, home renovation, travel expenses, etc.

What is the total interest cost of Rs. 5 Lakh personal loan at 9.99% p.a. and tenure of 3 years from IDFC First Bank?

The total interest cost of Rs.5 lakh personal loan at 9.99% p.a. for a tenure of 3 years is Rs. 80,725.

How do I apply for an IDFC First Bank 5 Lakh personal loan?

To apply for an IDFC First Bank personal loan of Rs. 5 lakh you can visit the official IDFC First Bank website or mobile app. You can also visit the Paisabazaar app or website to compare interest rates and other loan offers by several lenders and apply for the one that best suits you..

Do I have to submit any collateral/security to avail a personal loan of Rs. 5 Lakh from IDFC First Bank?

No, personal loans are unsecured loans and therefore, you are not required to submit any collateral or security to avail a personal loan of Rs. 5 lakh from IDFC First Bank. 

What are the tenure options available on an IDFC First Bank 5 Lakh personal loan?

An IDFC First Bank 5 lakh personal loan can be repaid within a flexible tenure ranging between 9 to 60 months.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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