IDFC Bank Personal Loan

• Loan amount: IDFC Bank offers Personal Loan with the loan Amount starting from Rs 1 lakh to Rs 25 lakh. The bank looks into the loan Applicant’s financial profile and considers the credit history, CIBIL Score, repayment capability etc.
• Loan tenure: The tenure for repaying IDFC Bank personal loan varies from 1 to 5 years and offers flexibility.
• Minimum documentation: With IDFC Bank, the entire process of a personal loan is super quick and hassle free and requires minimal documentation.
• Easy application: You can know about IDFC Bank personal loan eligibility instantly within 2 minutes and can apply for the loan online.
• Top- up loan: If you are an existing customer of IDFC Bank, you can borrow more money using the top- up facility.
• Personal loan balance transfer: Now one can transfer your current loan from other banks to IDFC Bank and can avail better interest rate.

For Self Employed Individuals:

• You should be atleast 28 years old.
• Your age at the time of loan maturity should be 68 years.
• The company’s profit after tax (PAT) for the last two years should be positive.
• The business must have been in existence for a minimum period of 3 years.

For Salaried Individuals:

• You should be atleast 23 years.
• Your age at the time of loan maturity should be 58 years.

• Photo Identity Proof (Self-attested copy of any one document): Passport, Voter ID Card, Pan Card, Driving License, Aadhaar Card.
• Address Proof (Self-attested copy of any one document): Ration Card, Bank Account Statement, Passport, Aadhaar Card, Telephone Bill, Driving License, Sale Deed/Property purchase agreement (for owned properties).
• Income Proof (Self-attested copy of relevant documents): 

1. For salaried individuals: Last 3 months/6 months’ bank statement (dependent on scheme) showing salary credits, Latest Salary Slip.
2. For Self-Employed Individuals: 2 years’ ITR, P&L and Balance Sheet for the last 2 years, Last 6 Months’ Bank Statement

• Business proof (Self-attested copy of relevant documents): Qualification Certificate/Certificate of Practice (COP), Shop Act License/ MOA & AOA/ Sales Tax/ Vat registration/ Partnership Deed

One can also check their monthly EMIs through Paisabazaar.com , where one can explore and compare the Personal Loan EMI at varied interest rates to assess his monthly instalment pay out. Calculating EMI beforehand helps in managing finances in a better way and also gives borrower a picture of his repayment power, which in turn helps them understand the quantum of their loan.

Applying for IDFC Bank personal loan online is very convenient and involves only a few simple steps if you apply through Paisabazaar.com.

Step 1 Fill up an online application form	Step 2 Your application would be sent to IDFC Bank for review	Step 3 IDFC Bank will process your loan application and will contact you for further formalities.

• You can call on 1860 500 9900 between 9 AM to 8 PM Monday – Saturday. It is advisable to keep your loan reference number handy for verification.
• If you wish to know your personal loan status, you can call on 1800 103 2791.
• You can send an email to customer.care@capitalfirst.com.
• You can also visit the nearest branch of IDFC Bank from Monday to Saturday 9:30 AM to 4:30 PM, (Branch will remain closed on 2nd and 4th Saturday of every month and on respective State Holidays). You can locate the nearest branch here. 

Ques: How long does it take for a personal loan to be processed?

Ans: If all the documents are in order and complete, IDFC Bank makes full effort of processing it in 5 working days. All loan approvals are at the sole discretion of the bank.

Ques: How much loan amount can be borrowed from IDFC Bank?

Ans: IDFC Bank Personal Loan amount ranges from Rs. 1 lakh to Rs. 25 lakh.

Ques: Is foreclosure of personal loan allowed?

Ans: Foreclosure is only allowed after third payment of the EMI. IDFC Bank charges 3% of the Principal Outstanding + GST

Ques: Is it beneficial to have a salary account with IDFC Bank to get a personal loan?

Ans: The bank does give a preferential rate of interest, processing fee, minimal documentation if one has a salary account with IDFC Bank. This is taken into account at the time of loan amount disbursal so one can pay through standing Instruction to debit the IDFC account with the EMI amount.

Ques: How can IDFC be contacted for any personal loan related queries?

Ans: IDFC Bank is available 24/7 for all its customers. To report any unauthorized transaction, one can contact the Bank Executives at 1800 419 4332.

For Personal Banking – 1800 419 4332

For Bharat Banking – 1800 419 8332

For Wholesale Banking – 1800 419 7332

For customers in Abroad, they can contact the Bank at +91-22-6001-4332

Ques: What are the methods of repaying personal loan?

Ans: Personal Loan can be repaid through EFT (Electronic Fund Transfer), from the other Bank, or a standing Instruction to debit the IDFC Bank account.

Ques: Is the interest rate on IDFC Bank personal loan flat or reducing?

Ans: The interest rate on IDFC personal loan is reducing that is as the outstanding principal amount reduces, the interest payable on your loan also reduces.

Ques: Can I foreclose the personal loan? What are the charges?

Ans: Yes, you can foreclose the personal loan after a lock-in period of 6 months by paying a foreclosure charge of 5% on the principal outstanding amount.

Ques: Is it possible to cancel my personal loan application after my loan is approved? What are the charges?

Ans: Yes, it is possible to cancel your loan application after you apply for a personal loan. There are no charges on cancellation of an approved loan application. You can call on 1860-500-9900 or write to us at customer.care@capitalfirst.com to get your cancellation request processed.

Ques: Is it possible to change my EMI due date?

Ans: No, it is not possible to change the EMI due date.