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IDFC First Personal Loan Preclosure Charges Loan

When you need money for urgent personal or business requirement, personal loan from IDFC First bank is an option to depend on. With effect from December 2018, IDFC Bank has merged with First Capital to form IDFC First Bank. The combined strength of the business entities has been integrated to provide one-stop solution for unsecured loans with umpteen facilities and advantageous benefits.
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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

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Personal Loan Charges

Attractive interest rates, no upfront money for loan processing fee, 12 to 60 months loan tenure period, opportunity to foreclose (chargeable), option for loan insurance and maximum funding for senior employees of organizations (featured bank’s list and based on financial strength and net credit worth of the applicant) are the highlights of loan schemes offered by IDFC First bank.

Interest charged by IDFC First bank on personal loans (lending limit Rs 1 lakh to Rs. 40 lakh) starts from 10.49%. The interest amount is a monthly reducing balance (the outstanding loan amount gets diminished with each EMI payment). The rate charged remains fixed for the entire tenure of the loan.

Personal Loan Foreclosure Charges

Foreclosure or preclosure refers to full payment of the loan amount much before the tenure ends. The tenure for personal loans is from 12 to 60 months.

Preclosure of the existing personal loan account is allowed by IDFC First Bank after the payment of 24 EMIs. The customer is charged a certain percentage of money in addition to the current principal loan balance. Foreclosure is chargeable and there is no facility for part payment.  All taxes levied are in accordance with government rules and regulations.

Personal Foreclosure charges Of IDFC First

Foreclosure has a charge rate of 5% (plus taxes) on the principal outstanding amount. The facility of foreclosure allows borrowers to save interest money on EMIs. It also gives an edge to CIBIL score of the customer, earning him easier approval for personal loans in future.

Different options to foreclose Personal Loan from IDFC First Bank

The two best options to foreclose an existing personal loan with IDFC First bank is to opt for Balance Transfer to some other bank or opt for Top Up loan from current bank.

With Balance Transfer the borrowers can shift to a new bank with lower rate for EMI. Most banks offer minimal interest rates for balance transfer account.

In case of top up loan, the current bank forecloses the existing account. In the new top up account (availed at the same interest rate) the borrower is disbursed with the existing loan amount along with the extra amount borrowed. A new consolidated, discounted EMI structure is generated after tallying the foreclosed and the new account.

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Conclusion

IDFC First Bank gives you multiple choices – General (multipurpose) loan and Consumer Durable Loan. The first addresses urgent financial needs and the second is for paying for purchases of consumer durable products like television, air-conditioner, refrigerator etc.

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

Avail Personal Loan for
All Your Needs

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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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