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IDFC Personal Loan Balance Transfer

IDFC Personal Loan Balance Transfer

Personal loan borrowers looking for options to lower their EMI burden can opt for a balance transfer with IDFC FIRST Bank at a lower interest rate. IDFC FIRST Bank offers a balance transfer facility to personal loan borrowers with interest rates starting from 9.99%.
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Valid till 31st August '26 *T&C Apply
Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.99%

Provider Highlights
Interest Rate

Interest Rate

9.99% Onwards

Processing Time

Processing Time

1 - 2 Days

Processing Fee

Processing Fee

2

Max Loan Amount

Max Loan Amount

₹1 Cr

4.5/5

15.6L Reviews

6cr+Satisfied Customers
30+Lending Partners
₹65k Cr+Loans Disbursed

Features of IDFC FIRST Bank Personal Loan Balance Transfer

Personal loan interest rate Starting 9.99% p.a.
Credit score 710+ (salaried) or 760+ (self-employed)
Processing fees Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts)
Foreclosure Charges No penalty on foreclosure
Late payment fees 2% of the unpaid EMI or Rs. 300, whichever is higher. Late payment fees may apply from the date of default to the date of payment.
Stamping Charges As per actuals

Note: The above rate is applicable to loan amounts above Rs. 1 lakh

Get Cashback of 500* on Loan Disbursal (Valid till 31 August '26)
5K1Cr
1Yrs7Yrs
IDFC FIRST BankIDFC FIRST Bank
Processing Time1 - 2 Days
Interest Rate9.99%
Processing FeeUpto 2%
Max Loan Amount₹1 Cr
EMI0

Eligibility of IDFC FIRST Bank Personal Loan Balance Transfer

To be eligible for an IDFC FIRSTmoney personal loan, borrowers must:

  • Be salaried or self-employed
  • Have a minimum salary of Rs. 10,000 p.m.
  • Have a credit score of 710 and above

Why Choose FIRSTmoney for Your Personal Loan Transfer?

IDFC FIRST Bank balance transfer offers multiple benefits to personal loan borrowers, including:

  • Interest rates starting from as low as 9.99% can help borrowers reduce their EMI.
  • No penalty is charged on foreclosure, helping borrowers close the loan without worry.
  • The loan application process requires minimal documentation.
  • Borrowers can borrow additional credit whenever required.

Who Should Opt for an IDFC FIRST Bank Personal Loan Balance Transfer?

Borrowers can opt for IDFC FIRST Bank can opt for a balance transfer in the following scenarios:

  • Borrowers paying a high interest rate can opt for a balance transfer at a lower interest rate to reduce the EMI burden.
  • For consolidating multiple debts into a single debt.
  • Those whose credit score has improved can look for better rates.
  • A significant loan tenure is remaining.

Things to Consider Before Opting for an IDFC FIRST Bank Personal Loan Balance Transfer

  • Processing charges
  • Total savings after charges
  • Remaining loan tenure
  • Eligibility
  • Credit score impact
  • Top-up loan requirement

IDFC FIRST Bank Personal Loan Balance Transfer EMI Example

Take a look at the table to understand how balance transfer lowers your EMI.

Particulars Existing Loan After Transfer
Outstanding Loan Rs. 6,00,000 Rs. 6,00,000
Interest Rate 15% 10.50%
Remaining Tenure 36 months 36 months
EMI Rs. 20,800 Rs. 19,500
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FAQs

What is the interest rate for an IDFC FIRST Bank Personal Loan Balance Transfer?

IDFC FIRST Bank balance transfer interest rate starts from 9.99% p.a.

Is there any foreclosure charge after transferring my loan?

No, IDFC FIRST Bank does not charge any penalty on foreclosure of a personal loan.

What documents are required for a personal loan balance transfer?

IDFC FIRST Bank offers personal loans with minimal documentation. Borrowers just need to complete their KYC with their PAN card and Aadhaar card.

How long does an IDFC FIRST Bank Personal Loan Balance Transfer take?

Borrowers can get personal loan approval in as little as 10 minutes from IDFC FIRST Bank

Does a balance transfer affect my credit score?

Yes, a personal loan balance transfer can have a minor impact on your credit score.

Can self-employed individuals apply for an IDFC FIRST Bank Personal Loan Balance Transfer?

Yes,  self-employed borrowers can apply for the IDFC FIRST Bank balance transfer.

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What our customers say

Get My Personal loan disbursed

I would like to give a huge shoutout to Munni Nayak from Paisabazaar for her incredible support in helping me get my personal loan disbursed within just a few days. She was extremely cooperative throughout the entire process and demonstrated great knowledge by explaining every step in detail with patience and clarity. I truly appreciate her dedication, professionalism, and the smooth experience she provided. Thank you so much, Munni, for all your help and support!

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Preeti BhattMay 16, 2026

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
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Vandana Punj
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Shamik Ghosh

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%.

Address: Paisabazaar Marketing & Consulting Pvt. Ltd. 135 P, Sector 44, Gurugram (HR) 122001

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