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Disclaimer: IIFL Finance Limited is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to IIFL Finance Limited for personal loans. No offers/services from IIFL Finance Limited are being provided by Paisabazaar for personal loans. For further information about IIFL Finance Limited for personal loans, users are required to reach out directly to IIFL Finance Limited.
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IIFL Finance Personal Loan Highlights |
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| Interest Rate | 12.75%-44% p.a. |
| Loan Amount | Rs 5,000- Rs 5 lakh |
| Loan Tenure | 3 months- 42 months |
| Processing Fee | 2%- 9% |
| Prepayment charges | NIL |
| Minimum Monthly Income | Rs 25,000 |
Note: Rates as of 9th June 2025
IIFL Finance Personal Loan Interest Rate
The personal loan interest rates offered by IIFL Finance are mentioned below:
| Minimum Interest Rate | 12.75% p.a. |
| Maximum Interest Rate | 44% p.a. |
Personal Loan Interest Rates Offered by Top Banks/NBFCs
| Banks/NBFCs | Interest Rates(p.a.) |
| Axis Bank | 10.49% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.99% onwards |
| HDFC Bank | 10.85% onwards |
| ICICI Bank | 10.85% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| Tata Capital | 11.99% onwards |
| Federal Bank | 11.49% onwards |
| DMI Finance | Up to 24% |
| L&T Finance | 11.00% onwards |
| Kreditbee | 16.00% - 29.95% |
| MoneyTap | 13.00% onwards |
| Piramal Finance | 12.90% onwards |
| Aditya Birla | 10.99% onwards |
| Moneyview | 14%-36% |
| Cashe | 33.50% onwards |
IIFL Finance Personal Loan Fees and Charges
| Particulars | Charges |
| Processing Fees | 2%-9% |
| Penal Charges | 24% p.a. |
| NACH/E-mandate bounce charges | Rs 500 |
| Bank swapping charges | Rs 500 |
Foreclosure Charges
| Loan Tenure (in months) | >=6 | >=12 | <=24 | >24 |
| 0-6 | 7% | 7% | 6% | 6% |
| 7-12 | NA | 6% | 6% | 6% |
| 13-18 | NA | NA | 5% | 5% |
| 19-24 | NA | NA | 3% | 3% |
| >24 | NA | NA | NA | 2% |
Types of IIFL Finance Personal Loan
Personal Loan for Women
Purpose: IIFL Finance Limited offers Personal Loan for Women to cater to the personal financial requirements of women.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Emergency Loan
Purpose: Individuals can avail Emergency Loan through IIFL Finance Limited to meet their financial requirements in case of an emergency.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Marriage Loan
Purpose: Consumers can avail Marriage Loan through IIFL Finance to meet their financial requirements for marriage related expenses.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Medical Loan
Purpose: The NBFC offers Medical Loan for meeting the financial requirements of the applicants in case of any medical emergency.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Agriculture Personal Loan
Purpose: IIFL Finance offers Agriculture Personal Loan to cater to the financial requirements of the applicant related to agriculture activities.
Personal Loan for Doctors
Purpose: Medical professionals can avail Personal Loan for Doctors through IIFL Finance to meet their financial requirements for various purposes such as wedding, travel, opening and expanding clinic, purchasing medical equipment, education, etc.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Personal Loan for Salaried Employees
Purpose: Salaried individuals can avail instant Personal Loan for Salaried through IIFL Finance to fulfil their financial needs.
Loan amount: Rs 5,000- Rs 5 lakh
Loan Tenure: 3 months- 42 months
Eligibility Criteria of IIFL Finance Personal Loan Applicants
The personal loan eligibility criteria set by IIFL Finance Limited for its personal loan applicants is mentioned below:
For Salaried Individuals:
- Minimum age of the applicant at the time of loan application should be 23 years and the maximum age of the applicant at the time of loan maturity should be 58 years.
- Individuals having minimum monthly income of Rs 25,000 are eligible for IIFL Finance Personal Loan.
- Applicant should have a minimum work experience of 2 years with an experience of 1 year in the current organisation.
- Applicants having a minimum CIBIL Score of 700 have higher chances of availing personal loan through IIFL Finance at lower interest rates.
For Self-employed Individuals:
- Minimum age of the applicant should be 25 years at the time of loan application whereas maximum age at the time of loan maturity should be 65 years.
- Applicant should display business vintage of atleast 3 years.
- Applicant should have a minimum annual income of Rs 5 lakh.
For Medical Loan:
- The age of the eligible applicant should be between 23 to 65 years.
- Applicant should have a minimum CIBIL score of 750 or above.
- Eligible applicant should be salaried or self-employed individual.
- The minimum monthly income of the applicant should be Rs 22,000.
For Agriculture Personal Loan:
- The minimum age of the applicant at the time of loan application should be 18 years and the maximum age at the time of loan maturity should be 65 years.
- The applicant should be deriving a consistent income through agricultural activities.
Documents Required for Availing IIFL Personal Loan
ID and Address Proof:
- PAN card
- Aadhar card
- Passport
- Voter ID
- Salary slip for last 3 months
- Bank statement for last 6 months
Business and Income Proof
- ITR for last 2 years with income computation
- Bank statement for last 1 year
- Proof of business registration
FAQs
At what minimum CIBIL score does IIFL Finance offer personal loan to its applicants?
IIFL Finance offers personal loan to applicants having a minimum CIBIL score of 700.
Who is eligible for IIFL Finance Personal Loan?
Salaried and self-employed individuals having a minimum CIBIL score of 700 and a minimum income of Rs 25,000 per month and Rs 5 lakh per annum respectively are eligible for IIFL Finance Personal Loan.
At what interest rate does IIFL Finance offer personal loan to its applicants?
IIFL Finance personal loan interest rates range from 12.75% to 44% p.a. depending on the credit profile of the applicant.
What is the minimum income requirement to be eligible for IIFL Finance Personal Loan?
Salaried employees should have a minimum monthly income of Rs 25,000 and self-employed individuals should have a minimum income of Rs 5 lakh per annum to be eligible for availing IIFL Finance Personal Loan.
What minimum personal loan amount can an individual avail through IIFL Finance?
An individual can avail a minimum personal loan amount of Rs 5,000 through IIFL Finance.